Best Thread CMC Markets owner answers your questions

[PC at CMC Markets]

Hi Jason,

Very kind of you to post on here and fully appreciated by me and the other posters. Thanks for that. Not sure you have cleared up the question because there is no mention of you guaranteeing up to any amount any deficiency. But that is not for debate here. You are right to debate on your own forum.

Thanks for taking the time and good luck with the business.

regards Peter

Hello Peter, tar, Black Swan,

I hate jumping into other brokers threads (as I think it is bad form to intrude), but looks like I'm being dragged in nonetheless . So just one post, and if anyone has additional questions for me, I would be happy to answer on FXCM's own thread found in the spread bet section.

When a margin call is reached, FXCM will automatically and immediately close all trades in the account. While the margin call feature is designed to close positions when account equity falls below the margin requirement, it is possible that the account could end up with a debit balance if the market is particularly volatile or gaps. In this situation, our policy is to credit the account back to 0. In the 6+ years I've been with FXCM, I've never known an account to be liable for a debit balance as a result of trading, and I've written plenty of adjustments for client accounts bringing them back to 0.

What Black Swan mentioned regarding products offered and liquidity in those products is also applicable. For exotic currencies such as the MXN and HUF, the margin requirement would naturally be higher than a currency such as the EUR, reflecting lower liquidity and thereby helping to avoid the chances of an account going into debit balance.

Cheers,

Jason
FXCM

 

[Black Swan]

Just got an email from CMC re. typical spreads, under 1 pip for the Euro and dollar yen..under 3 for gbp/jpy..


Minimum spread Typical spread (15th - 17th June)
USD/JPY 0.9 pts 0.915 pts
EUR/USD 0.9 pts 0.971 pts
GBP/USD 1.0 pts 1.322 pts
EUR/GBP 1.0 pts 1.161 pts
EUR/JPY 1.5 pts 1.581 pts
USD/CHF 1.9 pts 1.937 pts
GBP/JPY 2.9 pts 2.987 pts

CMC MARKETS - INDICES

Frequency From To Fixed spread
UK 100 Daily 08:30 16:30 0.9 pts
UK 100 Daily 16:30 21:00 1.5 pts
UK 100 Daily overnight 21:00 08:00 6.0 pts
GERMANY 30 Daily 07:00 21:00 0.9 pts
US NDAQ 100 Daily 24 hours 24 Hours 0.9 pts
US 30 Daily 07:00 21:15 0.9 pts
US 30 Daily overnight 21:30 07:00 3.0 pts

 

[tar]

Hi Jason,

Very kind of you to post on here and fully appreciated by me and the other posters. Thanks for that. Not sure you have cleared up the question because there is no mention of you guaranteeing up to any amount any deficiency. But that is not for debate here. You are right to debate on your own forum.

Thanks for taking the time and good luck with the business.

regards Peter

lol try again

 

[Black Swan]

lol try again

I reckon this tiny micro non issue is now exhausted...until the next one eh?

 

[Truth Seeker]

Just got an email from CMC re. typical spreads, under 1 pip for the Euro and dollar yen..under 3 for gbp/jpy..


Minimum spread Typical spread (15th - 17th June)
USD/JPY 0.9 pts 0.915 pts
EUR/USD 0.9 pts 0.971 pts
GBP/USD 1.0 pts 1.322 pts
EUR/GBP 1.0 pts 1.161 pts
EUR/JPY 1.5 pts 1.581 pts
USD/CHF 1.9 pts 1.937 pts
GBP/JPY 2.9 pts 2.987 pts

CMC MARKETS - INDICES

Frequency From To Fixed spread
UK 100 Daily 08:30 16:30 0.9 pts
UK 100 Daily 16:30 21:00 1.5 pts
UK 100 Daily overnight 21:00 08:00 6.0 pts
GERMANY 30 Daily 07:00 21:00 0.9 pts
US NDAQ 100 Daily 24 hours 24 Hours 0.9 pts
US 30 Daily 07:00 21:15 0.9 pts
US 30 Daily overnight 21:30 07:00 3.0 pts

Good spreads - just takes you half an hour to put a trade on, shame really that CMC will not include 1 click trading, but it's their loss.

 

[lancenicolase]

FXCM also has an SB offshoot.

Yeah... they bought ODL Markets a few years ago.

 

[ncfc]

Yeah... they bought ODL Markets a few years ago.

FXCM had a Spread betting platform a long time before they purchased ODL, the purchase of ODL just added to their Spread Betting client bank as they simply transferred ODL clients over to the existing FXCM Spread betting platform.

 

[Gaugerer]

I look forward to not being disconnected several times a day on the new platform, which has been promised to happen soon. However, there is another serious issue with plotting where several spurious dashes appear instead of normal candles which ruins all of the technical indicators. CMC have suggested trying signing off and re-starting the browser but that doesn't work. I've also tried different browsers including Internet Explorer to no avail.

The problem sometimes solves itself when a new candle is plotted, but if you are using 4-hour candles then that means you cannot trade for half of the trading day. Also, sometimes after being disconnected, the spurious dashes appear when they were not there before.

So I hope this serious problem is fixed at the same time as the disconnections for at the moment it is very difficult to trade Indices such as the Italy40 or the Euro50 using 4-hour candles. It would help if CMC could also give some time-scale for when this problem will be solved.

 

[Black Swan]

I look forward to not being disconnected several times a day on the new platform, which has been promised to happen soon. However, there is another serious issue with plotting where several spurious dashes appear instead of normal candles which ruins all of the technical indicators. CMC have suggested trying signing off and re-starting the browser but that doesn't work. I've also tried different browsers including Internet Explorer to no avail.

The problem sometimes solves itself when a new candle is plotted, but if you are using 4-hour candles then that means you cannot trade for half of the trading day. Also, sometimes after being disconnected, the spurious dashes appear when they were not there before.

So I hope this serious problem is fixed at the same time as the disconnections for at the moment it is very difficult to trade Indices such as the Italy40 or the Euro50 using 4-hour candles. It would help if CMC could also give some time-scale for when this problem will be solved.

I always use 2 charting packages, PRT and the broker's for 2 reasons; firstly as a stand by, (I'm looking for reasons to trade not excuses not to), secondly what the P and S&R levels are on the 2 different packages, which obviously have distinctly different readings.

 

[Truth Seeker]

Right, I've had another look and tested a new method which I have managed to work around the current clumsy execution set up, but it's a real pain, so here's some tips for CMC if they do want to improve their current set up;

1: When you open an order, have the ability to show the Take Profit and Stoploss in pips away from current market price.
2: Have the ability to have this OCO order saved so when you open an order the Take Profit and Stoploss levels in pips are already there (like Oanda)
3: When the order is executed, to see the trades in line form on the actual chart that you are trading off and ideally have the ability to move the order lines on the actual chart to adjust if needed (like Oanda and GFT, FXCM etc).
4: When the order is in the market you show it in a ticket, I would like to see a 1 click (or 2 if really feel the need) to CLOSE the current trade on that order line.

To add, if you did include 1 click trading and or the above tips, you must know you would vastly increase your customer base, makes good business sense to me.

 

[PC at CMC Markets]

Good morning truth seeker,
thought you might be on strike today ha ha. only joking.

so to answer your points.
1. you can enter stops and profit takes already on next gen by amount, by price and by points. we already have this facility.
2. when you enter order and you place stop and profit take they are tagged as oco and you can amend the orders from back office by amount, points or price so we already have this.
3. once you have executed order, you can amend stops and profits from charts in line form. so we already have this.

4. you can close out part of order or all order from back office, you can break the positions down by amounts. so we already have this.

Surprised you have not seen this are you getting our platform mixed up with sombody else's.

On another point do Oanda and FXcm offer 0.9 pips on major instruments? ?

thanks Peter

Right, I've had another look and tested a new method which I have managed to work around the current clumsy execution set up, but it's a real pain, so here's some tips for CMC if they do want to improve their current set up;

1: When you open an order, have the ability to show the Take Profit and Stoploss in pips away from current market price.
2: Have the ability to have this OCO order saved so when you open an order the Take Profit and Stoploss levels in pips are already there (like Oanda)
3: When the order is executed, to see the trades in line form on the actual chart that you are trading off and ideally have the ability to move the order lines on the actual chart to adjust if needed (like Oanda and GFT, FXCM etc).
4: When the order is in the market you show it in a ticket, I would like to see a 1 click (or 2 if really feel the need) to CLOSE the current trade on that order line.

To add, if you did include 1 click trading and or the above tips, you must know you would vastly increase your customer base, makes good business sense to me.

 

[tar]

On another point do Oanda and FXcm offer 0.9 pips on major instruments? ?

thanks Peter

on some instruments yes they do have 1 point spread , on a side note do you have zero spreads like Worldspreads ? and do you have fixed spreads on currencies like Cityindex ( no 20 pips spread on cable around economic figures ) ? what about your order max size ( per click ) for currencies is it 10 million like Oanda or 50 million like Fxcm ? It is not only about the spread it is the overall service , if you need more than 5 seconds to open a ticket and take a trade then your "effective spread" is not 0.9 pips it will be much more depending on how the market is moving at the moment .

Regards

 

[Black Swan]

Don't Worldspreads 'wharehouse' their orders for the supposed zero spread 'deals'..? It'll be pretty far from zero and as synthetic as the bunnies' tits in Hugh Heffner's Playboy mansion if that's what they do..

 

[Black Swan]

It is not only about the spread it is the overall service , if you need more than 5 seconds to open a ticket and take a trade then your "effective spread" is not 0.9 pips it will be much more depending on how the market is moving at the moment .

What you've written here makes no sense..

 

[Truth Seeker]

Good morning truth seeker,
thought you might be on strike today ha ha. only joking.

so to answer your points.
1. you can enter stops and profit takes already on next gen by amount, by price and by points. we already have this facility.
2. when you enter order and you place stop and profit take they are tagged as oco and you can amend the orders from back office by amount, points or price so we already have this.
3. once you have executed order, you can amend stops and profits from charts in line form. so we already have this.

4. you can close out part of order or all order from back office, you can break the positions down by amounts. so we already have this.

Surprised you have not seen this are you getting our platform mixed up with sombody else's.

On another point do Oanda and FXcm offer 0.9 pips on major instruments? ?

thanks Peter

Hi Peter
I felt sorry for your thread because there were no posts recently (joking). If you look at your order ticket, yes you have the stoploss you set in pips, but the take profit has to set by the actual pair number at that time, I don't see the logic in this, surely do it so you can set the take profit in pips too?
Yes I noticed today that you can close a trade position from the 'positions' tab, if you press the 'X' at the end (it wasn't labelled for ease, you have to discover it) so that's handy.
Oanda have had 0.9 on euro for years, don't you check out your competitors, I thought that was rule number 1 of business? Anyway, to add, you are making improvements and it will be a major step up for CMC if they introduce 1 click trading tickets as the multiclick kills your competative spreads.

 

[tar]

Oanda have had 0.9 on euro for years, don't you check out your competitors, I thought that was rule number 1 of business? .

No he didnt ! because of this he named his platform "next gen" lol , regards Peter

 

[tar]

Don't Worldspreads 'wharehouse' their orders for the supposed zero spread 'deals'..? It'll be pretty far from zero and as synthetic as the bunnies' tits in Hugh Heffner's Playboy mansion if that's what they do..

the multiclick kills your competative spreads.

exactly

 

[PC at CMC Markets]

Hi Tar,
Thought Oanda only did forex do they now quote indices from 0.9
For the records our indices in UK, German, US, NDaq are 0.9 FIXED.
Please refer to our web site for complete list of ours spreads.
Also you can find daily typical spreads.

If you are a believer in zero spreads then nothing I can add to that.
Just good luck with your trading.

regards Peter

on some instruments yes they do have 1 point spread , on a side note do you have zero spreads like Worldspreads ? and do you have fixed spreads on currencies like Cityindex ( no 20 pips spread on cable around economic figures ) ? what about your order max size ( per click ) for currencies is it 10 million like Oanda or 50 million like Fxcm ? It is not only about the spread it is the overall service , if you need more than 5 seconds to open a ticket and take a trade then your "effective spread" is not 0.9 pips it will be much more depending on how the market is moving at the moment .

Regards

 

[PC at CMC Markets]

Hi Truth Seeker,
I am happy if this thread is quiet because it means clients are happy
and trading on next gen. ha ha.
Yes you are right on profit take but surely it is easy to set target price as easily to select pips but point taken will look into that. of course you can set trailing stops by points. Sorry about Oanda on forex, I was referring to indices and I do not think they offer this but no doubt Tar will enlighten us.

We are going to introduce a one click functionality, trying to get the techies to allow you to open two tickets at once for quick solution. Once we do that on 0.9 spreads can I put you down as new account holder.. Or will you be joining tar on zero spreads with WS.

Peter

Hi Peter
I felt sorry for your thread because there were no posts recently (joking). If you look at your order ticket, yes you have the stoploss you set in pips, but the take profit has to set by the actual pair number at that time, I don't see the logic in this, surely do it so you can set the take profit in pips too?
Yes I noticed today that you can close a trade position from the 'positions' tab, if you press the 'X' at the end (it wasn't labelled for ease, you have to discover it) so that's handy.
Oanda have had 0.9 on euro for years, don't you check out your competitors, I thought that was rule number 1 of business? Anyway, to add, you are making improvements and it will be a major step up for CMC if they introduce 1 click trading tickets as the multiclick kills your competative spreads.

 

[tar]

Hi Tar,
Thought Oanda only did forex do they now quote indices from 0.9
For the records our indices in UK, German, US, NDaq are 0.9 FIXED.
Please refer to our web site for complete list of ours spreads.
Also you can find daily typical spreads.

If you are a believer in zero spreads then nothing I can add to that.
Just good luck with your trading.

regards Peter

Or will you be joining tar on zero spreads with WS.

Peter

No i am not a believer in zero spreads Peter , thats my point they advertise zero spreads and nobody cares , so it is not always about the spread . And i didnt say Oanda do indices .

Regards .