Just recommending that everyone checks their statements from CMC, they have been making mistakes with their financing charges/credits. The mistake is that they have been crediting/debiting at LIBOR +/- 4% instead of 3%. I have got them to admit this and promise to correct it but they have not done so. I assume that they must be making the same mistake with other people too.
Yes i think they are debiting more than crediting. I think they are hoarding cash as much as anyone. I opened a short position with them early this month, only to find that I was debited instead of credited for carrying the position overnight. So i've just switched to daytrading since then, and certianly wouldn't carry a long position overnight. I didn't get any interest payment on my cash balance this month either. Under these conditions they've now set, i'm thinking of switching to futuresbetting.com. At least these problems are avoided there, and there's no price skewing!!
CMC credited a fraction of the money that they had scammed off me back- then made the same mistake again! If LIBOR is 4.5% overnight, they will charge you 8.5% for longs and credit you with 0.5% for shorts. In their dealing guide it clearly says LIBOR +/-3%, and even that is an uncompetitive, punishing rate. I don't think I'll be dealing with them again- the only good thing they have to offer otherwise is low margin requirements.
Margin requirements for CMC can be beaten on www.daytrade4less.co.uk.
No slipage low commisions and no spreads example 1 point on Dow and 1 piont on forex.
From what I read others see CMC as uncompetitive, the low commison and marketed tight spreads are used to lour custermers in ( like the nationwide advert ) then high overnight holding costs with requotes and stop hunting Firms similar to CMC should be shut down.
No slipage low commisions and no spreads example 1 point on Dow and 1 piont on forex.
From what I read others see CMC as uncompetitive, the low commison and marketed tight spreads are used to lour custermers in ( like the nationwide advert ) then high overnight holding costs with requotes and stop hunting Firms similar to CMC should be shut down.
Indeed SB platforms do slow down / have problems when custermers can benifit from how the market is behaving. The odds are against you , that why they are called Betting Firms 
You will not have this trouble with Direct Accsess.
Some are worse than others, but most have the control to disable/make platforms react in this mannor.
You will not have this trouble with Direct Accsess.
Some are worse than others, but most have the control to disable/make platforms react in this mannor.
