Best Thread CMC Markets owner answers your questions

[Black Swan]

Have you got a link and more information to this site/company? I want to contact them directly with my findings. I'm bang out of order to be filled a few seconds after my trade has been executed and price has covered 30+ pips am I? Considering CMC delivers lightning execution? Hmmmmm.

The last fookin person this side of the universe they'd want contributing is a neg head like you..and you are bang out of order. You're doing all this digging, slinging mud at the SB firms from the position of demo accounts..

 

[PC at CMC Markets]

hi black swan,

dont knock it mate, I nearly got a full house last night. ha ha.
must admit I fancy KFC again but dont want to get into the junk food thing as already put on 7 lbs over summer and will need to widen the door if I carry on eating like this.

I went to the gym yesterday, passed it on the way to the sandwich bar. looks very nice but you wont see me in there ha ha

cheers pc

Late night Gala bingo sessions again PC? Trying to win those vouchers for KFC bargain buckets just ain't worth it...

 

[pboyles]

Ahem...yes there is, I've seen it, albeit in test mode ATM. Currently CMC are top of the league table for 'typical spreads' and timed execution in the spread bet industry. This independent source should be live in late October.
.

Wasnt someone who is a member here talking about that recently, that they were setting it up? I cant remember who it was now.

How do they propose to verify all this, they would have to open live positions with every SB provider to determine what spreads are actually being charged and to see that a low advertised spread wasnt being offset by extra slippage.

Maybe they are they just going to take their word for it or base it on advertised spreads? That'll work.

 

[Truth Seeker]

You asked

"I'm wondering is there an independant body that tests executions to see if clients actually get the spreads that are advertised? I think that would be a good idea."


Ahem...yes there is, I've seen it, albeit in test mode ATM. Currently CMC are top of the league table for 'typical spreads' and timed execution in the spread bet industry. This independent source should be live in late October.

You never answered Peter's question, if your account is live then pm him the details of your problems and the real trades that you have issues on. IMHO you owe him an apology for your latest insult regarding manipulation, bang out of order..

black swan

Considering you're normally over me like a rash I'm surprised you haven't supplied details of this company that independently monitor sb companies spreads and CMC are apparently on top of their list. I wouldn't like to think you are either lying or worried that my observations might indeed be of interest to this company? Either way, your silence is deafening.

 

[Truth Seeker]

Wasnt someone who is a member here talking about that recently, that they were setting it up? I cant remember who it was now.

How do they propose to verify all this, they would have to open live positions with every SB provider to determine what spreads are actually being charged and to see that a low advertised spread wasnt being offset by extra slippage.

Maybe they are they just going to take their word for it or base it on advertised spreads? That'll work.

What? So it's someone who posts on this website? Hmmm.

 

[scose-no-doubt]

Truth, I was under the impression that volatility (whether or not you are aware of the cause!) forcing spreads to widen was a fundamental reality of markets dynamics. Can you please explain to me why it this is not the case?

 

[the hare]

I'm bang out of order to be filled a few seconds after my trade has been executed and price has covered 30+ pips.

I dont think you can really expect anything else if you insist on placing market orders during economic announcements. You are just asking to get ass raped with a rotating cactus.

Also I think you need to give it a few hundred trades before you can reach any sort of reasonable conclusions.

This is kind of the problem with the type of sampling black swan is talking about. If 99.99% of the samples are determined under regular market conditions, then one or two outliers that just so happened to coincide with a news event dont really make much difference to the average. However if you are only trading those news announcements, and not trading at other times, then your figures are going to be significantly different, and you are going to reach very different conclusions.

 

[Truth Seeker]

Truth, I was under the impression that volatility (whether or not you are aware of the cause!) forcing spreads to widen was a fundamental reality of markets dynamics. Can you please explain to me why it this is not the case?

Sure. Some brokers choose to widen spreads, some more than others, some don't, but the ones that do it, are protecting themselves from losing profits incase of gaps etc, but I'm talking about real market brokers, not spread bet companies. The difference being spreadbet brokers create their own artificial market based around real market prices when they choose it. Artificial markets are 100% controlled by the spread bet broker.
CMC used to create spikes years ago and if you traded them, they wouldn't give you the profits, they would claim it was a rogue data spike, but the funny thing is, if you had a stop set on the wrong side, they would take it out and keep the profits. If you kicked off enough at the barrow boys on the other end of the phone and threaten the FSA they would compensate you from your stopped out trade, but they never gave you the profit that you would have won from the spike.
So to re-cap. Spread bet markets are 100% artificial, you are trading their market, not the real market so don't be fooled, and the way they can close/suspend (or whatever words they want to choose, it means the same) at will, and slip your fill at leasure proves to me they are independant because as proven on this thread with screenshots the real markets were not suspended, when they suspended theirs, and or just refused to take trades for a timed delay.....

 

[Truth Seeker]

The last fookin person this side of the universe they'd want contributing is a neg head like you..and you are bang out of order. You're doing all this digging, slinging mud at the SB firms from the position of demo accounts..

There you do again, assuming. Wrong again. Now answer my question, who's this company who apparently monitor the spread bet companies spreads?

I'm still waiting.........

 

[scose-no-doubt]

Truth, until you get some info on how the underlying market behaved to compare why do you expect anyone to listen? You need a bit more substance than spout. You just sound like the other thousands of losers who blame the SB. Hard evidence is what gets results.

 

[Truth Seeker]

Truth, until you get some info on how the underlying market behaved to compare why do you expect anyone to listen? You need a bit more substance than spout. You just sound like the other thousands of losers who blame the SB. Hard evidence is what gets results.

I don't follow you. CMC suspended their markets, and on another occasion just flat out decided it wasn't going to execute trades, both times have been backed up by screen prints when the real markets kept on trading (as they do), what more proof do you need? To add, slippage gets worse as the markets speed up (no news around, just more volume). If it didn't happen I wouldn't waste my time posting here trying to get to the bottom of it would I? People who trade here for real will also notice this sooner of later, I'm not sure if it's bet size dependant, but it's happening, and happening now. Trade slippage was minimal not that long ago, I just want to find out why, where's the crime in that?

 

[scose-no-doubt]

I give up.

 

[Truth Seeker]

I give up.

I never give up, that's why I'm successful.

 

[Truth Seeker]

PC

All you have to do is go back to the way you were executing trades a month of so ago, stop the slipping and market suspension or whatever way you want to word it then all is good, you put these new practices into effect, not me. Do not keep banging on how fast your execution is, because you're not including the facts that you slip and choose what speed to fill at when you feel like it, and I would go bet that traders here are not even checking what spread they are infact paying.

So I do hasten all to do this, look at what spread you are paying compared to what is being advertised.

Still no reply from the black swan to this so called independant company that tests the advertised spreads to the actual spreads customers receive......, I'm beginning to see a pattern

 

[the hare]

FFS, your conclusions are based on a sample size of 2. I despair.

I used to trade with Oanda, and even they do what they need to do in times of high volatility (who could ever forget the 200 pip spread they fat fingered in during one NFP !)

Brokers occasionally need to protect their assess, and although they are acting in their own best interests when they do this, it's also in the interests of their customers as it would all be pretty pointless if CMC goes tits up cos they took on a mountain of risk that they didnt manage cos it might mean pissing a few people off disconnecting a platform for a few seconds.

You might want to take this guys advice:

Ronnie Johns - Chopper - Harden the Fuck Up - YouTube

 

[Jimmy Lulz]

PC

All you have to do is go back to the way you were executing trades a month of so ago, stop the slipping and market suspension or whatever way you want to word it then all is good, you put these new practices into effect, not me. Do not keep banging on how fast your execution is, because you're not including the facts that you slip and choose what speed to fill at when you feel like it, and I would go bet that traders here are not even checking what spread they are infact paying.

So I do hasten all to do this, look at what spread you are paying compared to what is being advertised.

Still no reply from the black swan to this so called independant company that tests the advertised spreads to the actual spreads customers receive......, I'm beginning to see a pattern

TS, I think it was you that said that small delays can cost you thousands, is that right? If so, why are you trading through CMC. Why not trade the actual market through an actual broker, or if you need an SB wrapper do it through ibetfinancials. That way you will know your orders are executed properly and the bucket shop isn't on the other side of your trade, so there's no incentive for monkey business (whether it goes on or not, I need the confidence that comes from knowing that your broker cannot profit from your loss).

 

[Truth Seeker]

TS, I think it was you that said that small delays can cost you thousands, is that right? If so, why are you trading through CMC. Why not trade the actual market through an actual broker, or if you need an SB wrapper do it through ibetfinancials. That way you will know your orders are executed properly and the bucket shop isn't on the other side of your trade, so there's no incentive for monkey business (whether it goes on or not, I need the confidence that comes from knowing that your broker cannot profit from your loss).

Good points and I do Jimmy. I also use Pro-spreads which offer a spread bet wrapper with tax free profits as well as normal brokers. But I got pulled into all the hype and to be honest CMC were executing trades a lot fairer not so long ago, something has changed and now the executions are a lot worse, even to the point they will stick a few second delay on it or flat out close the market.

I am obviously wasting my time here, I just can't be bothered to deal with cretins like black swan or listen to PC dodge my direct questions with indirect answers, he knows exactly what I'm talking about, maybe he should have been a MP, and black swan his fluffer

 

[Black Swan]

PC

Still no reply from the black swan to this so called independant company that tests the advertised spreads to the actual spreads customers receive......, I'm beginning to see a pattern

See patterns? In your fantasy world you probably hear voices too..let me repeat it 'cos you're bit hard of thinking like, you're the last person in your Rampton media study group I'd give a contact too, or ask to get involved in anything I know of..you offer nothing.

PC is too polite to you, I don't have to be. You're moaning your tits off over two trades that didn't happen.." oh oh, but they could have if I'd taken them!!" gtf you weirdo..

You trip yourself up more than Forrest Gump trying the 110 meter hurdles..which reminds me..

This is you this is..

 

[Jimmy Lulz]

Good points and I do Jimmy. I also use Pro-spreads which offer a spread bet wrapper with tax free profits as well as normal brokers. But I got pulled into all the hype and to be honest CMC were executing trades a lot fairer not so long ago, something has changed and now the executions are a lot worse, even to the point they will stick a few second delay on it or flat out close the market.

I am obviously wasting my time here, I just can't be bothered to deal with cretins like black swan or listen to PC dodge my direct questions with indirect answers, he knows exactly what I'm talking about, maybe he should have been a MP, and black swan his fluffer

Fair enough buddy. The only issues I have with Prospreads (other than not being wild about the platform, which isn't really a big deal for me) are twofold:

1. Although you have to trade in cars, your orders are not necessarily just sent straight through - they admit they do some internal matching. Now, I'm not saying anything against them, but with this being the case there is at least the potential for monkey business.

2. Costs are fairly high (I'm talking about their reduced costs, the standard ones are ridiculous). If you're doing reasonable volume (as it sounds like you are) you should be able to negotiate better rates with ibf. You do have your seperate platform costs, although again if you're putting the volume through this should easily be offset.

That said, Prospreads would be my second choice.

Probably shouldn't carry this on in the CMC thread though . But it is relevant to the points you've been making. At the end of the day, when you use a bucket shop (no matter how honest) you're trading their market, not the real one. This might be fine, or it might not, but it's something one just has to accept.

 

[Black Swan]

FFS, your conclusions are based on a sample size of 2. I despair.

I used to trade with Oanda, and even they do what they need to do in times of high volatility (who could ever forget the 200 pip spread they fat fingered in during one NFP !)

Brokers occasionally need to protect their assess, and although they are acting in their own best interests when they do this, it's also in the interests of their customers as it would all be pretty pointless if CMC goes tits up cos they took on a mountain of risk that they didnt manage cos it might mean pissing a few people off disconnecting a platform for a few seconds.

You might want to take this guys advice:

Ronnie Johns - Chopper - Harden the **** Up - YouTube