Best Thread CMC Markets owner answers your questions

[Mrtan09]

Hi Mrtan, I got your private message, I am out of office this week but will look at it next week if that is okay
Tks petet

Thanks Peter, I appreciate your time.

 

[Ross Spur]

Hi Ross
I just fired up my next gen demo account
I disabled confirmation, margin stop losses and then clicked one time on silver to get ticket up. I then typed in 5 pounds hit return, ticket expanded and i hit confirm trade went through immediately without request for confirmation and stop losses

Tks pc

But after that you still have a box to close, making it three or four clicks to open a trade?

 

[Mrtan09]

Not necessarily one for PC but how do people feel about the margin hikes on commodities?!

Margin on WTI crude now 5% (approx£500 per £), IG index are 150 per £ and Spreadco 80.

But I do prefer the CMC platform!

 

[Ross Spur]

Not necessarily one for PC but how do people feel about the margin hikes on commodities?!

Margin on WTI crude now 5% (approx£500 per £), IG index are 150 per £ and Spreadco 80.

But I do prefer the CMC platform!

I think CMC have shot themself in the foot again. Whether you like the platform or not, it just means that most people will trade commodities with another SB.

 

[Ross Spur]

Confusing, or what? E-mail arrived from CMC saying that they've changed their mind and the margins will stay the same. Customer power?!

 

[Mrtan09]

Russ , so did I.. lol! Buggers... I've held off opening positions and opened more before last week to beat the rise..

I even called them this morning as the app was showing 3% but I opened a position yesterday and got hit with 5%! They told me, yes its 5%..

but its true.. opened a WTI position just now and I never realised its back to 3%... IG and Spreadco are still cheaper.. just not by as much now..

Oh well.. shouldn't complain really...

PC.. better communication with the staff please!

 

[Gaugerer]

I have been disconnected from the new platform so many times today that I have lost count and it's making it very tedious and frustrating to use. This happens on Internet Explorer and Google Chrome and CMC need to get this sorted ASAP.

 

[Truth Seeker]

Hi Ross
I just fired up my next gen demo account
I disabled confirmation, margin stop losses and then clicked one time on silver to get ticket up. I then typed in 5 pounds hit return, ticket expanded and i hit confirm trade went through immediately without request for confirmation and stop losses

Tks pc

Peter
Obviously you don't understand the mechanics of 1 click dealing. Let me explain what other platforms have and what you have decided to do away with, with this new effort.
You have 1 ticket which holds the following information: you can input amount required for the bet (before you place it) and you have a 'BUY' and a 'SELL' next to each other. Now, once you have put in your required amount (let's say £10pp) all you then have to do is press 'BUY' or 'SELL' ONCE
To exit the trade, all you have to do is press the opposing trade button ONCE
That's 1 click dealing. Are you going to move your platform up in line with other basic platforms or stay in the dark ages with multiclick trading?

 

[Black Swan]

Peter
Obviously you don't understand the mechanics of 1 click dealing. Let me explain what other platforms have and what you have decided to do away with, with this new effort.
You have 1 ticket which holds the following information: you can input amount required for the bet (before you place it) and you have a 'BUY' and a 'SELL' next to each other. Now, once you have put in your required amount (let's say £10pp) all you then have to do is press 'BUY' or 'SELL' ONCE
To exit the trade, all you have to do is press the opposing trade button ONCE
That's 1 click dealing. Are you going to move your platform up in line with other basic platforms or stay in the dark ages with multiclick trading?

Are you a CMC customer who is frustrated by the lack of this feature, or if it was available would you trade with them..?

 

[Truth Seeker]

To date I have an account but have refrained from trading because of the new multiclick platform. If 1 click trading was available, hundreds more traders would trade with CMC I'm sure.
I have been a customer for over 8 years. Maybe CMC don't want successful traders anymore?

 

[hoodoo man]

Are you a CMC customer who is frustrated by the lack of this feature, or if it was available would you trade with them..?

I have opened a demo account and had a quick go yesterday.
Without a doubt it is a very visually appealing, very polished, very simple interface, and also a complete trading platform with all the information the average home / semi pro speculator would need. The look and feel seems to be borrowed heavily from Apple UI, which is probably no bad thing.

However, I am interested in Nextgen as an order entry platform only, so the most important feature for me is how I can get in and out of positions. I'll never use the other bells and whistles - I ignore news, and have my own charts and tables.

There is no such thing as one click dealing on this platform. I'll attach my screenshot showing preferences for Peter. Even when turning off auto confirm and auto stop, I still require to do the following steps:

1. click on buy or sell (ideally, deal should be done as soon as I do this)
2. specify size (ideally, this should be preset by individual, asset class, or globally)
3. click confirm (to confirm size, deal is still not done)
4. the box shown on my screenshot appears, to give opportunity to set stop and limit - I must click confirm once more to get filled.

I would like the following features.
- preset position size
- preset stop and limit order distance (so I can make every order have an emergency stop of 20p and no limit for example)
- true one click dealing

Is my platform set up correctly? Is there another setting I need to change? 1 click should mean 1 click - either the feature exists or it does not. I count three clicks, not including work done entering size. I have just spoken to a trading associate who used to use the old Market Maker platform - apparently it remembered your trade size if you told it to and also had true one click dealing.

A final comment: since the max size is £200pp, it would be nice to get an option to have multiple deal tickets. It would be a nuisance to have to click three times, and it would be difficult to automate the process of bringing up manual tickets over and over.

 

[Ross Spur]

And you also have to click to close another box that confirms you placed the trade.

 

[hoodoo man]

To date I have an account but have refrained from trading because of the new multiclick platform. If 1 click trading was available, hundreds more traders would trade with CMC I'm sure.
I have been a customer for over 8 years. Maybe CMC don't want successful traders anymore?

Since PC is likely supervising the Jaffa Cake Boys and not here to comment, I suggest you leave the generalities alone for the time being. If you have any issues to raise regarding CMC on this thread, best to do it when PC is available to comment, not trash his firm when he isn't here to respond, on his own thread. That is just bad manners.

You and others have made a valid point about the one click trading. Lets give PC a chance to share his views. You can't infer that CMC has deliberately done this to deter successful traders. I have doubled my demo account with CMC twice in three days, using the multi click platform and the same price / size which would be available in a real account. I think that could be termed "successful" - note I was not hampered by pressing my mouse button three times instead of once.

Position sizing update. I had to trade the account up from £10k to the point where there was sufficient margin to trade at more than £200pp.

The good news is that when closing positions, if a stake has been built up which is greater than the valid size, it appears to be able to be closed with one click (albeit the fill prices for each increment of "their size" may be different. I sold the high after the payrolls on £200pp, then added two smaller positions at a lower price. When I clicked, all were able to close at once.

When trying to open an order for £250pp, I get the following message and the deal size is changed to 200. So it appears that one can exit a stacked position immediately and at a single price, but cannot enter this way.

I've only had a few days on the platform, but no disconnects or other funny behaviour. it seems stable enough, and I have no reason to think that the live account would be any different. All in all, a good product I think.

Whether >£200pp on the Euro will be possible in the future and whether there are plans to introduce true 1 click trading - I'm sure PC will give us all an update.

 

[twinj]

Hello hoodoo man, forgive me for not understanding fully your interest in CMC but as a 1 pound to 5 pound a pip guy, I am puzzled a big fish like you would be interested in using spread betting companies let alone CMC. Perhaps due to tax advantages but I don't think you mentioned that as one of your reasons. With your large trades, surely you could get the interbank rate?

Correct me if I am wrong but are you trying to hide your moves through CMC? If this is so, I am not sure if CMC would have such a large disparity in its order books for your order to be assumed without hedging? I would have thought that as soon as your order comes in, they will immediately hedge it and that would reveal your move?

Thanks in advance.

 

[gle101]

Since PC is likely supervising the Jaffa Cake Boys and not here to comment, I suggest you leave the generalities alone for the time being. If you have any issues to raise regarding CMC on this thread, best to do it when PC is available to comment, not trash his firm when he isn't here to respond, on his own thread. That is just bad manners.

You and others have made a valid point about the one click trading. Lets give PC a chance to share his views. You can't infer that CMC has deliberately done this to deter successful traders. I have doubled my demo account with CMC twice in three days, using the multi click platform and the same price / size which would be available in a real account. I think that could be termed "successful" - note I was not hampered by pressing my mouse button three times instead of once.

Position sizing update. I had to trade the account up from £10k to the point where there was sufficient margin to trade at more than £200pp.

The good news is that when closing positions, if a stake has been built up which is greater than the valid size, it appears to be able to be closed with one click (albeit the fill prices for each increment of "their size" may be different. I sold the high after the payrolls on £200pp, then added two smaller positions at a lower price. When I clicked, all were able to close at once.

When trying to open an order for £250pp, I get the following message and the deal size is changed to 200. So it appears that one can exit a stacked position immediately and at a single price, but cannot enter this way.

I've only had a few days on the platform, but no disconnects or other funny behaviour. it seems stable enough, and I have no reason to think that the live account would be any different. All in all, a good product I think.

Whether >£200pp on the Euro will be possible in the future and whether there are plans to introduce true 1 click trading - I'm sure PC will give us all an update.

I don't agree, I am quite sure PC can stand the heat. Keep posting and express your views, whether PC is around or not doesn't matter. This is an open forum you know, CMC is not in ownership of this thread.

 

[Ross Spur]

Since PC is likely supervising the Jaffa Cake Boys and not here to comment, I suggest you leave the generalities alone for the time being. If you have any issues to raise regarding CMC on this thread, best to do it when PC is available to comment, not trash his firm when he isn't here to respond, on his own thread. That is just bad manners.

You and others have made a valid point about the one click trading. Lets give PC a chance to share his views. You can't infer that CMC has deliberately done this to deter successful traders. I have doubled my demo account with CMC twice in three days, using the multi click platform and the same price / size which would be available in a real account. I think that could be termed "successful" - note I was not hampered by pressing my mouse button three times instead of once.

Position sizing update. I had to trade the account up from £10k to the point where there was sufficient margin to trade at more than £200pp.

The good news is that when closing positions, if a stake has been built up which is greater than the valid size, it appears to be able to be closed with one click (albeit the fill prices for each increment of "their size" may be different. I sold the high after the payrolls on £200pp, then added two smaller positions at a lower price. When I clicked, all were able to close at once.

When trying to open an order for £250pp, I get the following message and the deal size is changed to 200. So it appears that one can exit a stacked position immediately and at a single price, but cannot enter this way.

I've only had a few days on the platform, but no disconnects or other funny behaviour. it seems stable enough, and I have no reason to think that the live account would be any different. All in all, a good product I think.

Whether >£200pp on the Euro will be possible in the future and whether there are plans to introduce true 1 click trading - I'm sure PC will give us all an update.

Apart from the fact that all the posts will still be here when PC gets back, do you really think he needs defending? I'm sure one of the UK's most successful businessman wouldn't be where he is today if he couldn't handle a few criticisms on a website

<< I have no reason to think that the live account would be any different>>

Really??

 

[Black Swan]

I have no reason to think that the live account would be any different. All in all, a good product I think.

Ah, but will you be at 200 quid a pip?..

 

[Truth Seeker]

Since PC is likely supervising the Jaffa Cake Boys and not here to comment, I suggest you leave the generalities alone for the time being. If you have any issues to raise regarding CMC on this thread, best to do it when PC is available to comment, not trash his firm when he isn't here to respond, on his own thread. That is just bad manners.

You and others have made a valid point about the one click trading. Lets give PC a chance to share his views. You can't infer that CMC has deliberately done this to deter successful traders. I have doubled my demo account with CMC twice in three days, using the multi click platform and the same price / size which would be available in a real account. I think that could be termed "successful" - note I was not hampered by pressing my mouse button three times instead of once.

Position sizing update. I had to trade the account up from £10k to the point where there was sufficient margin to trade at more than £200pp.

The good news is that when closing positions, if a stake has been built up which is greater than the valid size, it appears to be able to be closed with one click (albeit the fill prices for each increment of "their size" may be different. I sold the high after the payrolls on £200pp, then added two smaller positions at a lower price. When I clicked, all were able to close at once.

When trying to open an order for £250pp, I get the following message and the deal size is changed to 200. So it appears that one can exit a stacked position immediately and at a single price, but cannot enter this way.

I've only had a few days on the platform, but no disconnects or other funny behaviour. it seems stable enough, and I have no reason to think that the live account would be any different. All in all, a good product I think.

Whether >£200pp on the Euro will be possible in the future and whether there are plans to introduce true 1 click trading - I'm sure PC will give us all an update.

Bad manners? Why else would CMC get rid of 1 click dealing than to hamper the average short term trader? If you're happy with multi-click trading then go for it, we (short term traders) will stick with the professional platforms until they pull their socks up and prove they are looking out for short term traders by installing 1 click trading. After all, they did have it on Market Maker.
Plus, you won't last long at CMC if you're making those returns, you will be asked to leave, so click away..

 

[hoodoo man]

Plus, you won't last long at CMC if you're making those returns, you will be asked to leave, so click away..

I'm not a client yet. If I open an account, get good returns, and am asked to leave for no other reason than that I am making good profits, then I'll be back here to tell you all about it. I like to work with brokers / liquidity providers and that means both sides being accommodating so far as is possible that we can both do business.

If the MD of CMC Markets comes on here and states publicly that he would be happy to take my business at £600pp and hedge it back to back then I am happy to believe that. If my trading somehow interferes with their hedging I would expect them to contact me in the first instance to try and work around it. (sometimes opening and closing trades too quickly - within 30 seconds for example - can make it difficult to hedge - I don't trade like this)

£600pp in the Euro is not a big position by any means. CMC will get it hedged somewhere around 0.5-1.5p and charge me 1.6p for the privilege. The fact that I am also doing business in other venues does not appear to be an issue either.

Again, until we have a consistently profitable trader banned from CMC, it is rather disingenuous to speculate that this would be the outcome. I'd rather speculate that CMC have a few clients in the 7 figures per year bracket and hedge everything they do.

I am going to sign off now as this thread is not called "Hoodoo Man answers your questions". While we are on the subject, it might be interesting to read about what a hoodoo is...Dr Niederhoffer's site is a good place to start.

 

[Ross Spur]

I'm not a client yet. If I open an account, get good returns, and am asked to leave for no other reason than that I am making good profits, then I'll be back here to tell you all about it. I like to work with brokers / liquidity providers and that means both sides being accommodating so far as is possible that we can both do business.

If the MD of CMC Markets comes on here and states publicly that he would be happy to take my business at £600pp and hedge it back to back then I am happy to believe that. If my trading somehow interferes with their hedging I would expect them to contact me in the first instance to try and work around it. (sometimes opening and closing trades too quickly - within 30 seconds for example - can make it difficult to hedge - I don't trade like this)

£600pp in the Euro is not a big position by any means. CMC will get it hedged somewhere around 0.5-1.5p and charge me 1.6p for the privilege. The fact that I am also doing business in other venues does not appear to be an issue either.

Again, until we have a consistently profitable trader banned from CMC, it is rather disingenuous to speculate that this would be the outcome. I'd rather speculate that CMC have a few clients in the 7 figures per year bracket and hedge everything they do.

I am going to sign off now as this thread is not called "Hoodoo Man answers your questions". While we are on the subject, it might be interesting to read about what a hoodoo is...Dr Niederhoffer's site is a good place to start.

We all wish you luck with it, but one of the problems you might have is that CMC don't know how long your trade will last when they take it. Beyond that, I still find it hard to accept that any SB wants consistently winning clients unless they shadow you, and they claim they don't do that, I believe. Possibly, that's because they don't have any consistently winning clients.