Best Thread CMC Markets owner answers your questions

[Ross Spur]

I'd rather have keptthe 100m personally but fair play. And yes I was yanking your chain a bit. You're a good egg PC but can you tell your sales staff to stop calling me asking if everything is fine and stuff like that. I got less attention from babysitters as a child. They're very keen to get me going.

They never call me. Was it something I said?

 

[scose-no-doubt]

They never call me. Was it something I said?

I think the woman fancies me.

 

[PC at CMC Markets]

hi Ross,
Thats entirely the point. this industry is changing and I want to lead that change.
will get very exciting in the future.

cheers pc

Excellent post, PC. If only SB cos had operated that way when I first started almost ten years back. Not mentioning any names, those that still use the old dealer controlled tactics will have to buck up their ideas.

 

[Jimmy Lulz]

Wow what a turnaround from calling pc's enterprice a 3rd rate bucket shop!!! :0

Wasn't it 28th rate? That's worse than 19th rate, by the way. Not a lot of people know that.

And in what way is it a turnaround? I asked, he answered (at some length) as he saw fit, I said thank you.

Did you not garner anything from that reply?

Look back - carefully - over my questions. Now look at the reply. Is it possible that a person could not learn - or confirm - a great deal from the exchange?

Mr Cruddas has been exceptionally helpful, I believe. So why not say thank you?

 

[Mr Soros]

Hello PC,

Thank you for getting back to me. Opening with a separate email account is ok.

Glad to know I don't have to go somewhere else.

Thank you

MS

Hi Mr Soros ,

I spoke to the support team. Apparently, technically we have built the software (so far) for you not to be able to have sub accounts. It is on the list but it wont be this calendar year.
However, there is a way around the situation. You can open another account but you will need another email address. The account name can be the same but when you log on it is your email address plus your password.

If you speak to Jamie Cole in our support area he can help you but that is the short term way around the problem.

hope that helps tks pc

 

[uk dave]

Wasn't it 28th rate? That's worse than 19th rate, by the way. Not a lot of people know that.

And in what way is it a turnaround? I asked, he answered (at some length) as he saw fit, I said thank you.

Did you not garner anything from that reply?

Look back - carefully - over my questions. Now look at the reply. Is it possible that a person could not learn - or confirm - a great deal from the exchange?

Mr Cruddas has been exceptionally helpful, I believe. TSo why not say thank you?

Ok ok ok Jim, don't get your knickers in twist!!! Now less of the typing, now its time to put your money where your mouth is and open a live account and trade with CMC!!!!!!

 

[Jimmy Lulz]

hi Jimmy,


I think it is also important to mention that as a client, you should pay a spread when you trade, because if you are paying a spread, we will always quote you off the market price. if you give us a trade that does not offset our position we can hedge it instantly in the markets. If you are not paying a spread then the price quoted may be based off the sb firm position. This might suit you but at the end of the day as a trading client you should be trading the markets not the sb firm's position.


remember trade the markets not the spreads

pc

With regard to this, are your index bets your own cash index, or are they your version of the relevant futures?

For example, is your "US 30" a cash index or is it just your version of YM - in which case the price should be near identical to that of the actual futures contract? If so, and you need to hedge, how can you do so when your spread is (0.7) is lower than the smallest tick size (1)?

Just in case this isn't clear, for example IG has (or did have, I presume it hasn't changed) a cash version of most of the main indices, plus a version of most of the futures. So they had an SP 500 or whatever it was called, Cash, September, December, March 2012 etc.

 

[Ross Spur]

With regard to this, are your index bets your own cash index, or are they your version of the relevant futures?

For example, is your "US 30" a cash index or is it just your version of YM - in which case the price should be near identical to that of the actual futures contract? If so, and you need to hedge, how can you do so when your spread is (0.7) is lower than the smallest tick size (1)?

Just in case this isn't clear, for example IG has (or did have, I presume it hasn't changed) a cash version of most of the main indices, plus a version of most of the futures. So they had an SP 500 or whatever it was called, Cash, September, December, March 2012 etc.

You can't trade an index, so I think all the SBs offer something that moves in step with the future, but adjusted for fair value, giving a price that more or less follows the underlying index (with more spikes). The actual level will theoretically only be the same when there is no future, so to speak!

 

[gle101]

With regard to this, are your index bets your own cash index, or are they your version of the relevant futures?

For example, is your "US 30" a cash index or is it just your version of YM - in which case the price should be near identical to that of the actual futures contract? If so, and you need to hedge, how can you do so when your spread is (0.7) is lower than the smallest tick size (1)?

Just in case this isn't clear, for example IG has (or did have, I presume it hasn't changed) a cash version of most of the main indices, plus a version of most of the futures. So they had an SP 500 or whatever it was called, Cash, September, December, March 2012 etc.

Yes, CMC should offer the Dow future (based on YM). I trade this with City, at a narrow spread of 1 point, how they manage hedging and giving this kind of price I honestly don't now. I guess CMC hedge only what is not balanced up by the book, and they might not hedge all part of that as well, this depending on their internal risk management strategy.

 

[tommac]

PC--been asked before no doubt but when are you going to introduce pop out charts for multi screen setups--all a bit cramped if I want more than one graph open --thanks

 

[gle101]

Ok ok ok Jim, don't get your knickers in twist!!! Now less of the typing, now its time to put your money where your mouth is and open a live account and trade with CMC!!!!!!

I kind of agree, not many reports on how it is to trade live with the CMC next-gen platform. Seriously, with 0.7 point spread on the Dow, there should be a lot more reports on how they are performing. There is just too much talk on this thread and to little of reports on live trading. I for one would have given a fair review, if I only had been able to sign up for a live account. Shape up you guys who are trading live with them, report back your findings trading with CMC next-gen platform.

 

[price777999]

I kind of agree, not many reports on how it is to trade live with the CMC next-gen platform. Seriously, with 0.7 point spread on the Dow, there should be a lot more reports on how they are performing. There is just too much talk on this thread and to little of reports on live trading. I for one would have given a fair review, if I only had been able to sign up for a live account. Shape up you guys who are trading live with them, report back your findings trading with CMC next-gen platform.

yea ,i would like to know if they have fast execution like pro spreads ?

 

[peto]

yea ,i would like to know if they have fast execution like pro spreads ?

Execution is around a quarter to 1 second, trade reporting at busy times is sometimes another couple of seconds. Slippage occurs in the direction the market is moving, on average about 0.3 point (negative) on stops, and the same (but positive) on limit closes. Slippage is often one or two points (positive) if the market is running your way when closing manually; and the same but negative if the market is running fast against you on a manual close.

Markets are not closed at busy times, (contrary to opinions expressed elsewhere on this forum), in fact the system performs remarkably well around the release of NFP etc. No trades are ever rejected or re-quoted.

 

[price777999]

Execution is around a quarter to 1 second, trade reporting at busy times is sometimes another couple of seconds. Slippage occurs in the direction the market is moving, on average about 0.3 point (negative) on stops, and the same (but positive) on limit closes. Slippage is often one or two points (positive) if the market is running your way when closing manually; and the same but negative if the market is running fast against you on a manual close.

Markets are not closed at busy times, (contrary to opinions expressed elsewhere on this forum), in fact the system performs remarkably well around the release of NFP etc. No trades are ever rejected or re-quoted.

cheers.

 

[Truth Seeker]

http://www.trade2win.com/boards/spr...owner-answers-your-questions.html#post1350658

Dec 10, 2010, 10:50am #8
PC at CMC Markets
Legendary Member


Member Since Oct 2010
1,261 Posts Re: CMC Markets owner answers your questions

--------------------------------------------------------------------------------

Hi Black Swan

So lets answers your questions as best I can. Why I think you should use CMC rather than our competition. Not in any particular order.
1. Unique graphical interface, our trading platform does not look like a spreadsheet.

2. Consistently competitive spreads on major products, we do not double the size of our headline spreads when the markets get volatile.

3. 100% automation of trades, no dealer intervention and millisecond execution of orders
No cancelled orders when the markets get tough, all trades filled

4. Next Gen charts, 66 technical indicators, presented in a fresh graphical format with the ability to amend risk management directly from the chart. Created in-house with constant new development.

5. Precision pricing up to 1000th of a pip

6. The best iphone trading platform on the planet, we are not boasting, its just a fact

7. Unique risk management stops. Automatic margin stop loss (can be dis enabled if required)

Sometimes clients get used to their spread bet firm and find it hard to change. I am the same with my bank account. But ultimately we believe that by having the best consistent pricing, automated execution, no dealer intervention over a period of time we will win the argument. Time will tell.

Regarding your forex question.

I worked as a forex trader in banking and broking for around 15 years. I was interbank trader quoting prices to clients and other banks. I have some experience. I have always taken the view that whatever market you trade you are looking to make money from direction. By spread betting with us you get institutional pricing and your profits are tax free. You click and trade, you get instant execution and because spreads are tight and consistent you can get in and out quickly and ride a trend.

You can scalp the market but that is very intensive and depends on your circumstances. If you can afford to sit in front of a screen all day trying to clip the market then that is an option but it is labour intensive very hairy and eventually it will wear you down.

sb on institutional real time prices, on line, via the iphone opens the worlds markets to you and it is tax free. Hope that answers your question. If not let me know and will try again.
thanks Peter
ps thanks for taking the time to blog.



====================================================================


Look at the statements made by PC himself in bold. On this thread I and others have proved that orders DO infact get cancelled and they even suspend/close the market when the market moves fast!
They may not 'double the size of our headline spreads when the markets get volatile' they just slip you to high heaven so you end up paying a spread of up fifty times more than advertised.

Get real, PC is making statements and clearly going against them which has been proved here with screen shots!

See the screen shots below, you can try and word a market suspension/close how ever you want but it all means the same, it's CANCELLED ORDERS, what you stated would not happen. Now answer my question: Why are you not delivering what you promised in your OWN thread?

 

[PC at CMC Markets]

hi tonmac,

we will introduce a wider trading screen so you can save charts to watch lists so you can flip from one chart to another that will occupy the whole screen. This release is imminent.

tks pc

PC--been asked before no doubt but when are you going to introduce pop out charts for multi screen setups--all a bit cramped if I want more than one graph open --thanks

 

[PC at CMC Markets]

hi peto,

Many thanks for taking the time to post your experience here. Please feel free to post your views here good or bad on the system.


regards Peter

Execution is around a quarter to 1 second, trade reporting at busy times is sometimes another couple of seconds. Slippage occurs in the direction the market is moving, on average about 0.3 point (negative) on stops, and the same (but positive) on limit closes. Slippage is often one or two points (positive) if the market is running your way when closing manually; and the same but negative if the market is running fast against you on a manual close.

Markets are not closed at busy times, (contrary to opinions expressed elsewhere on this forum), in fact the system performs remarkably well around the release of NFP etc. No trades are ever rejected or re-quoted.

 

[Truth Seeker]

Execution is around a quarter to 1 second, trade reporting at busy times is sometimes another couple of seconds. Slippage occurs in the direction the market is moving, on average about 0.3 point (negative) on stops, and the same (but positive) on limit closes. Slippage is often one or two points (positive) if the market is running your way when closing manually; and the same but negative if the market is running fast against you on a manual close.

Markets are not closed at busy times, (contrary to opinions expressed elsewhere on this forum), in fact the system performs remarkably well around the release of NFP etc. No trades are ever rejected or re-quoted.

Absolute rubbish. CMC close/suspended the markets at the last NFP and other red based news or they hold your trade for a few seconds then enter it into the market which results in a terrible trade.

 

[gle101]

http://www.trade2win.com/boards/spr...owner-answers-your-questions.html#post1350658

Dec 10, 2010, 10:50am #8
PC at CMC Markets
Legendary Member


Member Since Oct 2010
1,261 Posts Re: CMC Markets owner answers your questions

--------------------------------------------------------------------------------

Hi Black Swan

So lets answers your questions as best I can. Why I think you should use CMC rather than our competition. Not in any particular order.
1. Unique graphical interface, our trading platform does not look like a spreadsheet.

2. Consistently competitive spreads on major products, we do not double the size of our headline spreads when the markets get volatile.

3. 100% automation of trades, no dealer intervention and millisecond execution of orders
No cancelled orders when the markets get tough, all trades filled

4. Next Gen charts, 66 technical indicators, presented in a fresh graphical format with the ability to amend risk management directly from the chart. Created in-house with constant new development.

5. Precision pricing up to 1000th of a pip

6. The best iphone trading platform on the planet, we are not boasting, its just a fact

7. Unique risk management stops. Automatic margin stop loss (can be dis enabled if required)

Sometimes clients get used to their spread bet firm and find it hard to change. I am the same with my bank account. But ultimately we believe that by having the best consistent pricing, automated execution, no dealer intervention over a period of time we will win the argument. Time will tell.

Regarding your forex question.

I worked as a forex trader in banking and broking for around 15 years. I was interbank trader quoting prices to clients and other banks. I have some experience. I have always taken the view that whatever market you trade you are looking to make money from direction. By spread betting with us you get institutional pricing and your profits are tax free. You click and trade, you get instant execution and because spreads are tight and consistent you can get in and out quickly and ride a trend.

You can scalp the market but that is very intensive and depends on your circumstances. If you can afford to sit in front of a screen all day trying to clip the market then that is an option but it is labour intensive very hairy and eventually it will wear you down.

sb on institutional real time prices, on line, via the iphone opens the worlds markets to you and it is tax free. Hope that answers your question. If not let me know and will try again.
thanks Peter
ps thanks for taking the time to blog.



====================================================================


Look at the statements made by PC himself in bold. On this thread I and others have proved that orders DO infact get cancelled and they even suspend/close the market when the market moves fast!
They may not 'double the size of our headline spreads when the markets get volatile' they just slip you to high heaven so you end up paying a spread of up fifty times more than advertised.

Get real, PC is making statements and clearly going against them which has been proved here with screen shots!

See the screen shots below, you can try and word a market suspension/close how ever you want but it all means the same, it's CANCELLED ORDERS, what you stated would not happen. Now answer my question: Why are you not delivering what you promised in your OWN thread?

There are a few others that come in and contradict your statement, so at the moment I must say that the traders on this thread (not many though) apparently does not support your viewpoint. This could change very quickly as more traders report their experience trading live with CMC next-gen. I do not expect CMC at this stage to live up to all the bold claims made by PC, it is just to early with such a complex platform and price feed engine. However, we are demanding more of CMC as the month go by. It is really crazy for me writing this as, I cannot trade live with them at the moment, but as soon as I get the possibility to sign up for the SB live account, I will report back my findings.

 

[gle101]

Execution is around a quarter to 1 second, trade reporting at busy times is sometimes another couple of seconds. Slippage occurs in the direction the market is moving, on average about 0.3 point (negative) on stops, and the same (but positive) on limit closes. Slippage is often one or two points (positive) if the market is running your way when closing manually; and the same but negative if the market is running fast against you on a manual close.

Markets are not closed at busy times, (contrary to opinions expressed elsewhere on this forum), in fact the system performs remarkably well around the release of NFP etc. No trades are ever rejected or re-quoted.

"Slippage is often one or two points (positive) if the market is running your way when closing manually; and the same but negative if the market is running fast against you on a manual close." This sounds quite a lot, are you talking about whole points? Does this apply even to a a nonvolatile market as well? If I get slipped 2 points on the Dow I would not be happy.