Best Thread CMC Markets owner answers your questions

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Hi Tar,

You never struck me as a zero spreads sort of guy that was why I was a bit confused you were comparing our spreads to zero spreads.
anyway got the point now. thanks for taking the time to post.
regards Peter
tar said:
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 .
Click to expand...
 
PC at CMC Markets said:
On another point do Oanda and FXcm offer 0.9 pips on major instruments? ?
Click to expand...
PC at CMC Markets said:
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.
Click to expand...

I missed your point you said major instruments so yes Fxcm has 1 point spread on Ftse , Dax and Cac . Cityindex as well .

BTW Oanda Europe is now open in the UK , they may consider CFDs in the future thats what they said .

Kindest Regards .
 
From my experience, zero spreads have been fine. There was a time when they only went to 4 decimal places on the FX pairs and prices could freeze and so you would get trade rejections. Now they have 5 decimal places and execution has been good. Cannot say for larger than 5 pounds per point though. The other downside is it is only from 8 to 4. Also I have not tried to trade around news. I have not tried to scalp. However, I have gone in and out in less than a minute without any problems. I would think that if someone carries on doing that all day, they would put a stop to it.

Peter, I am looking forward to 1 click. Also, please can you tell me whether fixed spreads apply during news? Fixed spreads are for indices only right? FX is variable?
 
PC at CMC Markets said:
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
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Hi Peter
Good news about the two ticket option for quick solution. I would prefer to have the take profit in pips too please as it is easier if you have your techies on the job.
I have looked at zero spread and have yet to test it so can't comment.
How long will you let me keep my account open for, until I'm £50k, £100k, £150K in profits? Legit question.
 
What's the betting that if/when CMC introduce the precious 'one click' a bunch of herdsmen descend on this thread bemoaning the loss of the previous mechanism and demanding its re-instatement by way of a 3 page rant..? :D
 
Black Swan said:
What's the betting that if/when CMC introduce the precious 'one click' a bunch of herdsmen descend on this thread bemoaning the loss of the previous mechanism and demanding its re-instatement by way of a 3 page rant..? :D
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Well I would have thought CMC would have the intelligence to offer more than one type of order entry like all other brokers, so that quashes your view Black Swan.

But let's look at this scenario: What's the betting CMC new trader sign up increases when they introduce one click trading?
 
well you answer the question,
if the underlying market is say 0.7 pips on uk 100 how can a provider quote
zero spreads. do they lose on every deal. how do you think they make money

tks pc

scose-no-doubt said:
PC, for the sake of the thread can you elaborate on your apparent scepticism of the zero spread model?
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Hi Twinj,
Indices are fixed spreads, forex are variable spreads.
one click on its way
tks pc

twinj said:
From my experience, zero spreads have been fine. There was a time when they only went to 4 decimal places on the FX pairs and prices could freeze and so you would get trade rejections. Now they have 5 decimal places and execution has been good. Cannot say for larger than 5 pounds per point though. The other downside is it is only from 8 to 4. Also I have not tried to trade around news. I have not tried to scalp. However, I have gone in and out in less than a minute without any problems. I would think that if someone carries on doing that all day, they would put a stop to it.

Peter, I am looking forward to 1 click. Also, please can you tell me whether fixed spreads apply during news? Fixed spreads are for indices only right? FX is variable?
Click to expand...
 
Hi Truth seeker,
There is no policy in this company to close winning accounts, never have done never will do. there you go you have it in writing now.

tks pc

Truth Seeker said:
Hi Peter
Good news about the two ticket option for quick solution. I would prefer to have the take profit in pips too please as it is easier if you have your techies on the job.
I have looked at zero spread and have yet to test it so can't comment.
How long will you let me keep my account open for, until I'm £50k, £100k, £150K in profits? Legit question.
Click to expand...
 
PC at CMC Markets said:
Hi Truth seeker,
There is no policy in this company to close winning accounts, never have done never will do. there you go you have it in writing now.

tks pc
Click to expand...

Peter (Head of CMC no less)

Thanks for your honest reply and clafifying that in writing for me, I'm going to frame it on my wall next to trading desk. And thanks for again for listening and for the 1 click trading to be on it's way and I hope you can handle the increased new client sign ups as a result of these improvements.
I will be keeping an eye on this thread for the announcements.
 
scose-no-doubt said:
That's what I'm asking you.
Click to expand...

IMHO what being questioned here (and what has made me sceptical too) is that the only way they will make money is by slipping/requotes, but as I haven't opened a zero spread account as yet and fully tested the brokers who offer this deal, I'm only guessing. Maybe there is another thread on T2W you can see if there's been any problems with slippage/requotes?

I have no problem with paying a small spread, I just want no slippage or very limited, no dealer sticking his beak in and reliabilty and no account closure over everything else.
 
Hi Scose no doubt.
Well why dont you ask them, I dont work for them so I cannot tell you.
But the maths are simple. The underlying market is 0.7 pips and they offer 0.00 pips so in effect on every deal they will be making a loss. Maybe this is financial promotion and they are prepared to take a loss but maybe there is another way they make money.
How do you think they make their money. I sure other posters will have a view on this.

To be honest I do not like zero spreads. I think it drags this industry down because no major bank or broker in the underlying market would offer zero spreads when the core market offers a spread. Also as a client you should be prepared to pay a spread because that is a reflection of the market. You want a true price of the underlying market every time you trade, if there is a spread being paid by the client then the price quoted will be based on the underlying market not on the providers position or their view on your position. simples yes....

pc

scose-no-doubt said:
That's what I'm asking you.
Click to expand...
 
Hi Truth seeker,

why don't we get WS to comment on this site about how they make their money then it would clear up the question.

tks pc

Truth Seeker said:
IMHO what being questioned here (and what has made me sceptical too) is that the only way they will make money is by slipping/requotes, but as I haven't opened a zero spread account as yet and fully tested the brokers who offer this deal, I'm only guessing. Maybe there is another thread on T2W you can see if there's been any problems with slippage/requotes?

I have no problem with paying a small spread, I just want no slippage or very limited, no dealer sticking his beak in and reliabilty and no account closure over everything else.
Click to expand...
 
thought id just have a moan.
Used to have an account with you guys a few years ago. Got an email recently telling me about 0.9 spreads and thought it would be good to comeback. Anyway your website doesnt seem to fit right on my laptop. So as im filling out the questions I get to the 4th bit and I cant press the continue button because its off the screen lol. Dont seem to have any problems with other websites.
 
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