Yes he has probably already consulted lawyers about the prospect of winning such case. It is a gamble, the court and lawyers cost a lot. If he loses the case, the expenditure will be considerable. It is very hard for me to see that he has got a good change of winning such a battle. On the other hand I am not a lawyer, and there are not enough facts known about the case. There might be some aspects that go in his favor.
nkruger
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Stop hunting
Well CMC have got rid of a few stops there. Couple of minutes ago the FTSE cash spiked up 60 !! Then straight down. I watched it happen. Frightened the life out of me, I was in a trade with CapSpreads at the time.
WHAT WAS THAT ALL ABOUT ?
Well CMC have got rid of a few stops there. Couple of minutes ago the FTSE cash spiked up 60 !! Then straight down. I watched it happen. Frightened the life out of me, I was in a trade with CapSpreads at the time.
WHAT WAS THAT ALL ABOUT ?
lurkerlurker
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If that wasn't real price movement, then why didn't you hit the bid?
nkruger
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Morning LL - At the time I was managing a FTSE trade on the CapSpread screen and I was in my first forex trade of the day as well (I dont multi-task well !!), and as far as I can remember, I was just watching for the spike on the CS screen.
Hoggums
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If he doesn't already have £150k in his account that CMC can withhold then he must have blown out his account with his disputed £200k trade. (Jaw drops open)
Anyway I think it will be up to CMC to provide the evidence that they actually lost the £150k by hedging the trade. If that was the case I'm not sure how your friend would stand. If CMC did not lose any money then they would have a hard time recovering it considering they closed the trade.
However I think CMC were perfectly in their right to close the trade - he was gambling with money that wasn't his. And I don't think your friend has a chance of recovering lost profit - he won't be able to prove he would have closed at 130K profit. The best he'll get away with in my opinion is walking away not having to pay a penny. (apart from his lawyers).
New Charting Software in 2nd half of 2008 by CMC...
is a step back into stone age!
Forget about CMC!
They changed the provider of the charting tool, the new tool is lacking almost all essential basic features of a chart, such as
free scaling time and value axis, shifting lines, symbols, if you set the chart to 1 day, 5-minues bars, you won't get more data beyond one day, no furhter history.
And many others.
Funny thing:
All this was available before.
Also Profit/Loss-indication/calculation is simply wrong.
You always get lesss than indicated, and close to zero, they make your profit a loss,
after trade execution.
Forget CMC
Your profit is at risk, CMC always wins
http://www.trade2win.com/boards/images/smilies/icon_twisted.gif
is a step back into stone age!
Forget about CMC!
They changed the provider of the charting tool, the new tool is lacking almost all essential basic features of a chart, such as
free scaling time and value axis, shifting lines, symbols, if you set the chart to 1 day, 5-minues bars, you won't get more data beyond one day, no furhter history.
And many others.
Funny thing:
All this was available before.
Also Profit/Loss-indication/calculation is simply wrong.
You always get lesss than indicated, and close to zero, they make your profit a loss,
after trade execution.
Forget CMC
Your profit is at risk, CMC always wins
http://www.trade2win.com/boards/images/smilies/icon_twisted.gif
2be
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CMC has managed to widen the forex spread over 10 times today, GBP/USD has been over 35pips, their answer was the lack of market liquidity. I smell the rat, and in my opinion CMC has lost it. Small trades ok with them, anything over £5 per ponit forget it. I am keeping a small acc with them, but that about all. I could not believe how unreliable (at the best) they have become. Its pity as I have been with them for many years. I certainly would NOT RECCOMEND THEM to anybody and fill sorry and embarrased as I have reccomended them to some of my friends in the past.
Wishing all many good trades,
2be
Wishing all many good trades,
2be
2Be What The F8CK !
This is Forex , lack of liquidity my Ass !
These are jokers, and taking you and other custermers for a ride.
If your lucky enough to get a wining trade they can widen stops, requote.
However they advertise as them selfs as a order taking business, and they clearly do not take clear instructions , in my opinion.
This is Forex , lack of liquidity my Ass !
These are jokers, and taking you and other custermers for a ride.
If your lucky enough to get a wining trade they can widen stops, requote.
However they advertise as them selfs as a order taking business, and they clearly do not take clear instructions , in my opinion.
ibex666
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here we go again
Here we go again!! Lets pick an sb out the hat and run them into the ground.
Usually its finns, and most recently ig, so it must be cmc this week. Sure theyve got serious charting issues at the moment, but that aside they are no better or no worse than most uk sb,s. As is usual someone gets a problem with a particular sb and alarm bells go off here there and everywhere. Come on guys its sb, and we all know what that stands for, with whatever sb firm!!!!! Remember you sign on the dotted line and take the small print home to meet your mother!
Here we go again!! Lets pick an sb out the hat and run them into the ground.
Usually its finns, and most recently ig, so it must be cmc this week. Sure theyve got serious charting issues at the moment, but that aside they are no better or no worse than most uk sb,s. As is usual someone gets a problem with a particular sb and alarm bells go off here there and everywhere. Come on guys its sb, and we all know what that stands for, with whatever sb firm!!!!! Remember you sign on the dotted line and take the small print home to meet your mother!
2be
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CMC spreads became normal during the european session today, and their execution is not too bad. I think that all platforms have issues from time to time, but this experience diminished a lot of my trust in their system. Actually I think that their execution on small lots is good, on a larger lots it might be a different matter, but in this respect that applies to any platform.
