Best Thread CMC Markets owner answers your questions

[tar]

Dear Truth seeker,

Here is my last posting on our trading process. It is what it is take it or leave it. I have looked at a major competitor’s platform and it is the same process as ours.

Please check the screen shots , only one click to take a position , no need to open a ticket could open a position from the watchlist directly , just press on the price .

 

[paulbennett1084]

by the way why would you switch to us from capital spreads what do you like about us to switch
pc

i really like your GUI, charts and your Apps, It makes it easier for me to trade. Im quite new to all this. I have used capital spreads with demo n live accounts. But i always came back to my CMC demo account because of the GUI and charts.

i think a good interface helps a lot.

 

[PC at CMC Markets]

many thanks

i really like your GUI, charts and your Apps, It makes it easier for me to trade. Im quite new to all this. I have used capital spreads with demo n live accounts. But i always came back to my CMC demo account because of the GUI and charts.

i think a good interface helps a lot.

 

[PC at CMC Markets]

Hi Tar,
thanks very much for the screens shots.
Just one question how can I change the amounts to buy/sell and how can I select limit order or market order.
pc

Please check the screen shots , only one click to take a position , no need to open a ticket could open a position from the watchlist directly , just press on the price .

 

[hoodoo man]

Dear Truth seeker,

Here is my last posting on our trading process. It is what it is take it or leave it. I have looked at a major competitor’s platform and it is the same process as ours.

I am disappointed with this response from you as when I asked you a similar question last week you promised to look into it with your team and get back to me.

One click trading needs interpretation.

I would suggest that it doesn't, it is a standard term in the industry with a specific meaning. Trying to "interpret" or "redefine" a term is more reminiscent of politics or marketing rather than straight talking.

CMC Markets already provides a definition: "One-Click dealing allows you to trade within a single click of seeing a price". This is taken directly from your One-Click Dealing Marketmaker ® User Guide at http://www2.cmcmarkets.co.uk/legal_...ts/spreadbet/CMCM_SB_One-Click_User_Guide.pdf

One click in my books is the execution of a trade after you have set what you want to do.

If we define one click to mean only the final mouse click action before a deal is done, then every platform is one click. If we define it to mean deals are done without asking for a confirmation, then every platform which can disable the "are you sure you want to trade" box becomes one click also.

So let’s explain.

Click one with us and every other platforms I have tried is as follows. You have to click on price (or order ticket) to generate order ticket.
You select whether it is market order, stop loss, limit, amount you want to buy or sell.
You have to decide this before you do any trade. Once you have selected what you want to do then you can place trade. With us you can leave the order ticket open as long as you like with the market price updating in the price window of the ticket.

Click two. Once the ticket has been set to what you want to do, e.g. amount, limit or market order. You click confirm and the deal is executed in milliseconds. This is one click trading (reminder turned off on Next Gen through preferences)

Click three is you get a confirmation and to continue trading you need to click confirm you received the confirmation.

So all I am saying is that before you do your one click trading you have to set the ticket to what you want to do.

That is what we do. If you don’t like it then you don’t have to trade with us.
Once the ticket is populated you trade on one click. All this is explained and filmed in our videos on the web site. You can even open up a demo account to test the way we execute trades before you open a live account. Every other system I have seen makes you select the order type, e.g market or limit or stop, the stake and you have always had to click on our price to populate a ticket.

Maybe it is not for your type of trading and that is fair enough but I cannot add any more to the above other than to say that is how we operate and every other spread bet firm in this industry.

Can we move on now please.
thanks Peter

In addition to my posting, two other members here have posted screenshots of other platforms which provide what we consider true one click trading. I can tell you that the following providers do one click trading:
- CMC Markets Market Maker spreadbet platform
- IG Index spreadbet platform
- Oanda FX platform
- FXCM FX platform
- FXCM spreadbet platform
- Interactive Brokers "FX Trader" platform
- CFH Markets Web Trader / Pro Trader
- Hotspot
- Currenex
- EBS
- Thomson Reuters
- Dukascopy
- London Capital Group


I find your position in misunderstanding what this feature is particularly difficult to understand given that your prior spreadbet platform included it. Of course it is your business and if for whatever reason you do not wish to provide one click dealing on your platform then that is your right. Traders who require one click dealing will simply go elsewhere. However I do not see the reason to confuse existing and potential clients by using a term which has an established meaning in a completely different way to suggest that your platform has an ability to deal within a single click of seeing a price, at the best bid or offer.

I now suspect that you have a business reason in not installing one click dealing, and for some reason you do not desire to tell us what this is. I can only speculate as to the reasons from choosing to remove a feature that was present in your prior offering. The possible reasons that come to mind are:
- reducing order entry errors by novice clients
- oversight in the software development process, and not financially viable to implement now
- discouraging very active trading / short term trading on your platform
- thwarting snipers / scalpers / toxic flow clients (as you now have no dealer referral)

 

[tar]

Hi Tar,
thanks very much for the screens shots.
Just one question how can I change the amounts to buy/sell and how can I select limit order or market order.
pc

If u want to change the size u just type the amount on the small box between the buy and the sell , and the amount will stay there u dont have to type it every time , as for the one click it is for market orders only , for limit orders u have to open a ticket and specify your order type , your target price and other options . How to open a ticket ? well it depends on the platform so for IG you choose ( order to open ) from the drop down menu . Anyway to use a one-click dealing you have to enable it once from the settings or preferences or by ticking a box like with old CMC platform , otherwise if it is disabled then the process will be like yours yes but there will still be a difference which is unlike CMC other platforms on every ticket there will be a buy price and a sell price . Hope that helps .

Best Regards .

 

[Ross Spur]

I am disappointed with this response from you as when I asked you a similar question last week you promised to look into it with your team and get back to me.


I would suggest that it doesn't, it is a standard term in the industry with a specific meaning. Trying to "interpret" or "redefine" a term is more reminiscent of politics or marketing rather than straight talking.

CMC Markets already provides a definition: "One-Click dealing allows you to trade within a single click of seeing a price". This is taken directly from your One-Click Dealing Marketmaker ® User Guide at http://www2.cmcmarkets.co.uk/legal_...ts/spreadbet/CMCM_SB_One-Click_User_Guide.pdf



If we define one click to mean only the final mouse click action before a deal is done, then every platform is one click. If we define it to mean deals are done without asking for a confirmation, then every platform which can disable the "are you sure you want to trade" box becomes one click also.



In addition to my posting, two other members here have posted screenshots of other platforms which provide what we consider true one click trading. I can tell you that the following providers do one click trading:
- CMC Markets Market Maker spreadbet platform
- IG Index spreadbet platform
- Oanda FX platform
- FXCM FX platform
- FXCM spreadbet platform
- Interactive Brokers "FX Trader" platform
- CFH Markets Web Trader / Pro Trader
- Hotspot
- Currenex
- EBS
- Thomson Reuters
- Dukascopy
- London Capital Group


I find your position in misunderstanding what this feature is particularly difficult to understand given that your prior spreadbet platform included it. Of course it is your business and if for whatever reason you do not wish to provide one click dealing on your platform then that is your right. Traders who require one click dealing will simply go elsewhere. However I do not see the reason to confuse existing and potential clients by using a term which has an established meaning in a completely different way to suggest that your platform has an ability to deal within a single click of seeing a price, at the best bid or offer.

I now suspect that you have a business reason in not installing one click dealing, and for some reason you do not desire to tell us what this is. I can only speculate as to the reasons from choosing to remove a feature that was present in your prior offering. The possible reasons that come to mind are:
- reducing order entry errors by novice clients
- oversight in the software development process, and not financially viable to implement now
- discouraging very active trading / short term trading on your platform
- thwarting snipers / scalpers / toxic flow clients (as you now have no dealer referral)

Thanks for taking the time and trouble to set it all out so clearly, hoodoo man. Hopefully, we'll get a straight answer and can move on.

 

[Truth Seeker]

We are not getting a straight answer because Peter himself does not fly straight. We have proved this before and again now with his latest response. I want this CMC selling platform thread closed down as it is not fit for purpose.

BUYER BEWARE

 

[6am]

I am disappointed with this response from you as when I asked you a similar question last week you promised to look into it with your team and get back to me.

Forgive me for asking this question but why are you disappointed? You trade via robot therefore the lack of this feature does not affect you at all.

 

[Truth Seeker]

Warning! Warning! Dodgy Spreadbet dealer approaching!

 

[forker]

Why are you giving gravity to this matter when there are plenty other brokers around who would gladly tickle your f@ny the way you like it.

If a pig farmer sells his pig sh!t to tree hugging hippies who tell him their trees are g@y, do you really think that he is going to feed his pigs corn instead of processed pig food that contains 10% meat just because 5% of his clients tell him their trees have indigestion and their leaves aren't very lush due to the meat content.

Grow up and stop nagging. This is business.

 

[Truth Seeker]

Why are you giving gravity to this matter when there are plenty other brokers around who would gladly tickle your f@ny the way you like it.

If a pig farmer sells his pig sh!t to tree hugging hippies who tell him their trees are g@y, do you really think that he is going to feed his pigs corn instead of processed pig food that contains 10% meat just because 5% of his clients tell him their trees have indigestion and their leaves aren't very lush due to the meat content.

Grow up and stop nagging. This is business.

Yes, so it seems. Nothing friendly here. Good avoidance tactics too.

 

[PC at CMC Markets]

Hi Tar,
Just one question for you.
to change amount to trade how do I highlight the box to change the amount.
pc

If u want to change the size u just type the amount on the small box between the buy and the sell , and the amount will stay there u dont have to type it every time , as for the one click it is for market orders only , for limit orders u have to open a ticket and specify your order type , your target price and other options . How to open a ticket ? well it depends on the platform so for IG you choose ( order to open ) from the drop down menu . Anyway to use a one-click dealing you have to enable it once from the settings or preferences or by ticking a box like with old CMC platform , otherwise if it is disabled then the process will be like yours yes but there will still be a difference which is unlike CMC other platforms on every ticket there will be a buy price and a sell price . Hope that helps .

Best Regards .

 

[paulbennett1084]

Also? Any chance of releasing all the companies so demo traders can trade with the bigger companies?
why are they blocked?

 

[PC at CMC Markets]

Hi Paul
Demo account is for you to get a feel on how to use the platform. With stocks we have to pay for the price feed from exchange so have to restrict them otherwise cost would be enormous. You can learn to use the platform using the products that are there.
hope that helps
tks pc

Also? Any chance of releasing all the companies so demo traders can trade with the bigger companies?
why are they blocked?

 

[paulbennett1084]

as thats understandable...yeah i have been using the demo platform for awhile now its nice!

 

[PC at CMC Markets]

Thanks Paul. some more improvements coming on the live platform including charting upgrades and things.
if you use demo on your iphone you can keep up with markets any time.

cheers pc

as thats understandable...yeah i have been using the demo platform for awhile now its nice!

 

[PC at CMC Markets]

Good morning Truth seeker,
How are you today.
can you do me a favour and answer post 1924
tks Peter

Yes, so it seems. Nothing friendly here. Good avoidance tactics too.

 

[paulbennett1084]

Im looking forward to the updates, when can we see the new companies / forex coming online too?
Im a mac user so the live platform with via the web is nice for my 27" imac, and yea iphone app is super nice too. All in All great user interfaces.

 

[PC at CMC Markets]

Hi Paul
Unfortunately software development is not an exact science and so there is not definite date but I estimate within four to five weeks.
I run my next gen platform across mac desk top and it looks stunning
tks pc

Im looking forward to the updates, when can we see the new companies / forex coming online too?
Im a mac user so the live platform with via the web is nice for my 27" imac, and yea iphone app is super nice too. All in All great user interfaces.