Best Thread CMC Markets owner answers your questions

[gle101]

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.

Yes if this happened to me 2-3 times I would be gone and out from that company. But you are the only one reporting this kind of manipulative delay. Others have to come on board supporting your viewpoint, otherwise we will stick to it being a one timer event, and if so not to be taken too seriously. Trading the news has it risks with SB, not to be recommended.

 

[Truth Seeker]

Yes if this happened to me 2-3 times I would be gone and out from that company. But you are the only one reporting this kind of manipulative delay. Others have to come on board supporting your viewpoint, otherwise we will stick to it being a one timer event, and if so not to be taken too seriously. Trading the news has it risks with SB, not to be recommended.

I wasn't trading the news on spread bet, that's suicide, you use real brokers for that, not these type of places, and the golden years for news trading has been and gone for a few years now, there's much easier ways to make money than scampering around for a profit on a news spike.
It was not a one time event anyway and I wouldn't bother trading around the news times again here and if I get one of my set ups right around these times I will ignore it as it's just too dangerous. I only took my trade set ups a few times because I believed the drivel being spouted here about how fast the fills are at any market condition, it's absolute rubbish, and you can be sure I wouldn't take one of my trade set ups 10 mins either side of any red news in the future. Now I'm just waiting to see how good the upgrade is going to be in reality, considering I sold the 1 click trading idea and others after 12 rounds with PC.
Quarterly bets on UK stocks would be a good idea, sooner rather than later.

 

[Ross Spur]

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.

We need to establish whether CMC's (live) platform always stops working every time there's important news. Even if it does, that wouldn't necessarily mean it's deliberate manipulation. As for trades being delayed 'a few seconds' at such times, I'd say that would still put Next Gen way ahead of other SB platforms.

 

[Truth Seeker]

We need to establish whether CMC's (live) platform always stops working every time there's important news. Even if it does, that wouldn't necessarily mean it's deliberate manipulation. As for trades being delayed 'a few seconds' at such times, I'd say that would still put Next Gen way ahead of other SB platforms.[/QUOTE]


I can't believe you have just written this comment. Do you realise how much you have just discredited yourself now?

 

[gle101]

I wasn't trading the news on spread bet, that's suicide, you use real brokers for that, not these type of places, and the golden years for news trading has been and gone for a few years now, there's much easier ways to make money than scampering around for a profit on a news spike.
It was not a one time event anyway and I wouldn't bother trading around the news times again here and if I get one of my set ups right around these times I will ignore it as it's just too dangerous. I only took my trade set ups a few times because I believed the drivel being spouted here about how fast the fills are at any market condition, it's absolute rubbish, and you can be sure I wouldn't take one of my trade set ups 10 mins either side of any red news in the future. Now I'm just waiting to see how good the upgrade is going to be in reality, considering I sold the 1 click trading idea and others after 12 rounds with PC.
Quarterly bets on UK stocks would be a good idea, sooner rather than later.

Still you are the only one reporting bad experience. You are trying too much discrediting CMC, not a good tactic if you want traders to go along with what you are saying. There are issues with every SB company, you have to pick the best in reference to instrument, stake, volatility, spread and execution. For myself, this means I am trading with several SB's depending on market conditions.

 

[Truth Seeker]

Still you are the only one reporting bad experience. You are trying too much discrediting CMC, not a good tactic if you want traders to go along with what you are saying. There are issues with every SB company, you have to pick the best in reference to instrument, stake, volatility, spread and execution. For myself, this means I am trading with several SB's depending on market conditions.

If you bothered to read this thread you see it's not just me who reported with these screen shots, it's from three different sources.
I don't care if traders don't want to go along with what I'm saying, they will find out for themselves when they start betting live and over single figures per point.
I think some here really don't understand the whole picture (you are being lied to) go for it then..

 

[Jimmy Lulz]

If you bothered to read this thread you see it's not just me who reported with these screen shots, it's from three different sources.
I don't care if traders don't want to go along with what I'm saying, they will find out for themselves when they start betting live and over single figures per point.
I think some here really don't understand the whole picture (you are being lied to) go for it then..

If CMC disappoint you, stop using them. They provide whatever service they provide, and that is all there is to it.

You need to move to a broker who does provide the service you're looking for.

 

[gle101]

If you bothered to read this thread you see it's not just me who reported with these screen shots, it's from three different sources.
I don't care if traders don't want to go along with what I'm saying, they will find out for themselves when they start betting live and over single figures per point.
I think some here really don't understand the whole picture (you are being lied to) go for it then..

I haven't seen any lately, please enlighten me. Anyway it will eventually come forth if this is the case when I go live. If CMC can't deliver, so what, I move on if that proves to be true. Plenty of others to trade with in case that happens. You making a big noise over nothing, probably due to some crazy trades, you probably want to shift the responsibility over to somebody else, it doesn't work in trading. One can complain over issues, but you are ranting like anything, doesn't do your trading career any good.

 

[peto]

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.

I can only report my own experience from hundreds of round trips on the live platform, and over a hundred hours watching the next gen screen.

All providers / platforms have the occasional down-time or glitches from incoming data feeds, some more than others. CMC will no doubt have problems looking ahead, but so far they have been very reliable. I understand the screen-print you have endlessly been re-posting round these forums (isn't there a rule about that?) only showed for a few seconds.

 

[peto]

"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.

I'm usually trading the dow or dax. Comment does not to non-volatile times. At other times the dow can and does move a lot of points in one second. The slippage I assume is because cmc do not work on the same model as most other spreadco's....
When I click on a price with cmc's platform I am simply sending a market order to them. By the time the internet has delivered it, their servers have security-checked it, and have checked my available margin/account balance, it will often be executed at the new current (possibly different) price to the one I clicked on. That might be an advantage (positive slippage) or a problem, depending on how you trade.
If you must have the screen price use City or Laddi's or several others, but remember they won't actualy fill you if the price is disadvantageous to them, they will re-quote (eventually), or decline the trade.

 

[gle101]

I'm usually trading the dow or dax. Comment does not to non-volatile times. At other times the dow can and does move a lot of points in one second. The slippage I assume is because cmc do not work on the same model as most other spreadco's....
When I click on a price with cmc's platform I am simply sending a market order to them. By the time the internet has delivered it, their servers have security-checked it, and have checked my available margin/account balance, it will often be executed at the new current (possibly different) price to the one I clicked on. That might be an advantage (positive slippage) or a problem, depending on how you trade.
If you must have the screen price use City or Laddi's or several others, but remember they won't actualy fill you if the price is disadvantageous to them, they will re-quote (eventually), or decline the trade.

Thanks for your reports, yes I have understood that CMC next-gen have quite a different execution model. I just have to check it out with real live trades in order to form an opinion. In trading SB, I am quite used to getting the price that I have clicked on. I am also accustomed getting my set price on stop loss. However, I can change my mind, if the model delivers a good average execution. Although, I find it at the moment to be a security risk, with this kind of execution model for a market maker. Remember, we are not talking about the real market, but market making. The SB in general have an inbuilt internal deviation to play with, accepting an order or not, when the market order hits the server. I can take a few re-quotes or rejections, knowing I get what I buy, as long as this is within acceptable limits. It can be an advantage though, always getting into a trade, especially in an volatile market. No re-quotes or rejections sounds great, and could be a good deal if CMC deliver narrow spread (the average slippage included).

Have you calculated from your live trades (hundreds of round trips), what the actual spread is on the DAX and the Dow, taken the +-slippage in consideration?

 

[tar]

I can only report my own experience from hundreds of round trips on the live platform, and over a hundred hours watching the next gen screen.

But your's wasn't bloomy either , you have reported an early close on the Dax twice , BTW what was their response on that ?

 

[catracho]

Anybody have issues with withdrawing funds from CMC? Seems strange that they don't have a form on their platform to transfer funds back to your registered bank account?

 

[Truth Seeker]

I can only report my own experience from hundreds of round trips on the live platform, and over a hundred hours watching the next gen screen.

All providers / platforms have the occasional down-time or glitches from incoming data feeds, some more than others. CMC will no doubt have problems looking ahead, but so far they have been very reliable. I understand the screen-print you have endlessly been re-posting round these forums (isn't there a rule about that?) only showed for a few seconds.

Your opinion is worthless unless you provide proof as I have with screen prints, whether they tire you or not is not the issue, I'm sure there's many more to come so get used to them until/unless CMC stop their games and start delivering what they started in the beginning of this thread as what I quoted.

 

[Truth Seeker]

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.

Care to comment PC on your slippage at volatile times up to x40 easily, and why after you have stated you won't reject trades and all trades will be filled that you haven't done this (as proved with screen shots?)

So far I have slipped 2 pips on one live trade this morning so far which messes up my R/R.....

 

[gle101]

Care to comment PC on your slippage at volatile times up to x40 easily, and why after you have stated you won't reject trades and all trades will be filled that you haven't done this (as proved with screen shots?)

So far I have slipped 2 pips on one live trade this morning so far which messes up my R/R.....

But all these screen shots are from demo trading?

 

[tar]

But all these screen shots are from demo trading?

I dont think the snake oil bottle from his demo account ....

 

[uk dave]

Isn't the demo and live treated the exact same way as it was set up that way, to give live experience from no risk demo?

 

[gle101]

I dont think the snake oil bottle from his demo account ....

ha ha.

 

[Ross Spur]

We need to establish whether CMC's (live) platform always stops working every time there's important news. Even if it does, that wouldn't necessarily mean it's deliberate manipulation. As for trades being delayed 'a few seconds' at such times, I'd say that would still put Next Gen way ahead of other SB platforms.[/QUOTE]


I can't believe you have just written this comment. Do you realise how much you have just discredited yourself now?

No I don't. Please explain.