Best Thread CMC Markets owner answers your questions

[x4x]

I've traded with IG for about 10 years, but have this week opened an account with CMC.

My first impression of the CMC trading platform is excellent.

Very tight spreads and lightening fast times on both entries and exits - superb.

Very tight stops and an excellent trailing stop option - love it.

Not mad on the fact that the tickets are either Buy or Sell tickets - much prefer a ticket that I can prepare and keep for either direction. I would also prefer the Confirm button be renamed to Buy or Sell accordingly - I know they're colour coded but somehow the trigger button labelled Buy/Sell would be far more logical - at least to me!

As previously mentioned by Timm, it would be fantastic if a default stake size could be pre-set to choice and even better if this option could also be extended to the stop loss size and type - if these features were added it would be an unbeatable platform.

Thus far, I'm well pleased I finally made the change.

 

[Black Swan]

X4X

Were you trading pairs and or indices? Good to hear the feedback on the exits/entries...IMHO a few of the sb firms may begin to really encroach onto the fx broker territory if we're getting less than one pip spreads, happy days..

 

[Black Swan]

Definately

I see we are losing Gold, Peter. Why?

(I didn't see this in earlier posts so apologies if it's explained somehere in here!)

I see what you did there with your spelling of definitely.. and somewhere...

 

[Benny Dorm]

I can't beleive I mist that!

I also can't believe I've just seen an advert at the bottom of the page from CMC showing only the price of gold, which they are removing as an instrument!

 

[peakoil]

First oil futures, now gold. My theory is this - after all those years of success, Mr. Cruddas started feeling sorry for his competitors, so he hatched a plan to give them some of his customers.
;-)

 

[Ross Spur]

First oil futures, now gold. My theory is this - after all those years of success, Mr. Cruddas started feeling sorry for his competitors, so he hatched a plan to give them some of his customers.
;-)

Maybe they're just ditching unprofitable markets? Clients probably tend to buy gold and leave positions running longer, so depriving the SB of a steady stream of revenue from stops being triggered.

 

[Black Swan]

...dyor into restrictions possibly on the way for certain metals trading...Dodd Frank etc, certain USA brokers, forex.com (gain) already informing clients on the restrictions..

 

[tar]

what ?!! no gold ? are you sure guys , i saw Gold on my demo yesterday , we are talking about the UK here what Dodd frank has to do with this ! Oanda will stop giving leverage on metals on the US division after 15th July but it will be available on Oanda Europe like usual ...

 

[tar]

First oil futures, now gold. My theory is this - after all those years of success, Mr. Cruddas started feeling sorry for his competitors, so he hatched a plan to give them some of his customers.
;-)

BTW CMC is losing money last few years dont know about 2011 yet ...


http://www.cmcmarketsplc.com/group-results/consolidated-income-statement

 

[peakoil]

re the "dyor" comment on restrictions on gold --> "we are talking about the UK here what Dodd frank has to do with this" Tar's absolutely correct: the dodd frank shenanigans has indeed nothing to do with non US residents.

Except, *IF* they've been losing money, surely that's more to do with investment in marketing and expansion than on clients' wins! Mr. C. will no doubt let us know.

 

[x4x]

BTW CMC is losing money last few years dont know about 2011 yet ...

I think CMC haven't got the best reputation (that was certainly true in my case and that of several people I know) - but that could soon change due to their tight spreads and excellent platform. I'm sure they will soon grow their customer base and likewise, their profits.

 

[tar]

re the "dyor" comment on restrictions on gold --> "we are talking about the UK here what Dodd frank has to do with this" Tar's absolutely correct: the dodd frank shenanigans has indeed nothing to do with non US residents.

Except, *IF* they've been losing money, surely that's more to do with investment in marketing and expansion than on clients' wins! Mr. C. will no doubt let us know.

Yeah ofcourse CMC is spending alot here , marketing and expansion is part of your expenses and if your income is not covering your expenses then u are losing money , should be interesting to see 2011 results though ...

 

[x4x]

X4X

Were you trading pairs and or indices? Good to hear the feedback on the exits/entries...IMHO a few of the sb firms may begin to really encroach onto the fx broker territory if we're getting less than one pip spreads, happy days..

I was trading EUR/USD.

I was seriously considering Prospreads or DMA, but was unhappy about having to pay income tax on profits. I thought I would give CMC a shot as a last resort and have been very pleasantly surprised. Their platform is a little clunky in terms of filling out the trade tickets, and perhaps lacks a bit of functionality, but it must match DMA on speed, or near enough to make no difference - happy days indeed.

 

[x4x]

Yeah ofcourse CMC is spending alot here , marketing and expansion is part of your expenses and if your income is not covering your expenses then u are losing money , should be interesting to see 2011 results though ...

Yeah, they must have spent an absolute fortune, but their advertising needs to explain that their spreads are fixed....I didn't realize they were fixed until I opened an account - they're really missing a trick by not stating fixed spreads as this has to be a massive attraction to people.

IG advertise EUR/USD & GBP/USD from 1 point spread - but they are only 1 spread for about 10 seconds at a time, then they revert to 2 & 3 respectively, so advantage lost. I assumed CMC's 'from 0.9' meant the same thing. If they advertise fixed spread examples and make a couple of platform developments I'm sure they will have the hordes beating their door down, I hope so as I will always support a company that is trying to offer what people want.

 

[tar]

Yeah, they must have spent an absolute fortune, but their advertising needs to explain that their spreads are fixed....I didn't realize they were fixed until I opened an account - they're really missing a trick by not stating fixed spreads as this has to be a massive attraction to people.

IG advertise EUR/USD & GBP/USD from 1 point spread - but they are only 1 spread for about 10 seconds at a time, then they revert to 2 & 3 respectively, so advantage lost. I assumed CMC's 'from 0.9' meant the same thing. If they advertise fixed spread examples and make a couple of platform developments I'm sure they will have the hordes beating their door down, I hope so as I will always support a company that is trying to offer what people want.

CMC's spreads are fixed on indices only but not forex , i've seen 25 pips spread on cable after economic figures ...

Hi Twinj,
Indices are fixed spreads, forex are variable spreads.
one click on its way
tks pc

 

[x4x]

CMC's spreads are fixed on indices only but not forex , i've seen 25 pips spread on cable after economic figures ...

ah! I hadn't noticed any widening, but hard to see in quick markets - IG do show their spread on the ticket which is something CMC should also consider.

 

[bedsit]

ah! I hadn't noticed any widening, but hard to see in quick markets - IG do show their spread on the ticket which is something CMC should also consider.

Maybe you need a better concentration - may help you to notice the widening

Think of concentration improvement as a three-step process:

1. Learn the causes of poor concentration and decide which apply to you.

2. Understand what you can do to control these factors.

3. Make your control habitual. Even if you lapse into old habits of distraction and daydreaming, keep insisting of yourself that you concentrate using these controls until you can routinely concentrate well for fifty minutes of every hour.

 

[Black Swan]

re the "dyor" comment on restrictions on gold --> "we are talking about the UK here what Dodd frank has to do with this" Tar's absolutely correct: the dodd frank shenanigans has indeed nothing to do with non US residents.

Except, *IF* they've been losing money, surely that's more to do with investment in marketing and expansion than on clients' wins! Mr. C. will no doubt let us know.

<inserts bangs head against desk emoticon>...Er OK dude..whatever you say..

 

[Black Swan]

I think CMC haven't got the best reputation (that was certainly true in my case and that of several people I know) - but that could soon change due to their tight spreads and excellent platform. I'm sure they will soon grow their customer base and likewise, their profits.

I think the SB industry suffered a bad rep. tbh not just individual companies, however, I think a huge part of that poor rep. was unfairly attributed by the legions of failures spamming forums most of whom should just give it up as a bad job they'll never succeed at..

 

[x4x]

Maybe you need a better concentration - may help you to notice the widening

Think of concentration improvement as a three-step process:

1. Learn the causes of poor concentration and decide which apply to you.

2. Understand what you can do to control these factors.

3. Make your control habitual. Even if you lapse into old habits of distraction and daydreaming, keep insisting of yourself that you concentrate using these controls until you can routinely concentrate well for fifty minutes of every hour.

I was obviously too busy watching the profits to worry about the costs:cheesy:

Spread is important to me, but at the end of the day it is a business expense that has to be paid in order to enter a trade - I mostly concentrate on the 11 charts that I watch and getting good entries and exits, but thanks for the advice.