CMC Markets

We've just added CMC Markets to T2W Reviews in Brokers.

Quick Summary: CMC offers three different types of trading services: Contracts for Difference, Financial Spread Betting, and Foreign Exchange.

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For UK stocks I think D4F are excellent. I wouldn't personally use any SB company for index trading now I have a real futures account.

Rating: 8/10

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Uses the almost the same quotes as D4F CFD, with spreads just 1 point wider in some instances. No bias although all index prices are based on futures prices so it might seem like there is if you are watching the actual index prices. Both have reasonable real-time charts but CFD charts are better.

Foreign Exchange prices are competitive with the open market (better at times) so a good choice for tax free FX dealing.

Index spreads are easily the best in the S B market (but still about twice what you'd find for true Futures). Fills can be very fast if you get automated service (about 1 second). In my experience auto-fills were usualy available during market hours on the major indexes on reasonably small bets, but sometimes very slow (30 secs?) outside of these times and on lesser indexes like the Spanish IBEX leading to re-quotes.

Trading Platform loads in 30 secs or so after initial downloading, is stable, allows limit/stops/oco. Account status is always 10 odd minutes out of date, irritatingly.

Customer Service is good

Due to the taxfree benefits I would reccommend them for FX trading; and Index trading if your time horizon is over 1 or 2 hours on open positions. For shorter term trades get a futures account as the spread will kill you!

Individual shares - can't comment, no experience

Rating: 8/10

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All peto has said plus:

Good for smaller bets (<£10/point) on UK FTSE100 shares because most of the time, there is no extra spread added on.

US share bets not so good: minimum spread is 5 and they frequently increase to 10 or 15 in volatile conditions. I have seen the spread jump to 100 e.g. EBAY and remain there for a minute or so.

And to repeat peto: scalping indices for < say 20 points will kill you.


Rating: 8/10

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Ok for the smaller trader, but on large trades it is better to go with a broker rather than a bookie, feel uneasy knowing that when I win they lose...it is not in their interest for client sto do well.

Prefer being GNI Touch as I can use the order book for the auctions.

Rating: 6/10

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As a relative newcomer to D4F I initially found it quite cumbersome. However their back-up is good, although it does take some time to trade, then further time to enter a stop.

One big drawback I find is that if you close a trade you have to remember to cancel the stop, otherwise you finish up with a trade you didn't want.

Would not want to trade the Dow dailies on it, blink and you've missed several moves, I am too much of a novice as of yet.

Overall, service not bad. Their statements were confusing to someone not used to rolling bets, but once sorted out are very clear.

Rating: 8/10

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10th Feb - Deal4Free release a new version of their software called MarketMaker 5.

Key differences and upgrades

1. The whole thing has Windows XP look and feel.

2. The product is much more flexible in the way it lets you organise data. e.g. you can now have individual prices, groups of prices, charts, and your realtime position all up and scattered around the screen in various different windows.

3. They have got their layouts working. So I can save an array of charts and prices in the exact place on the screen and get everything back exactly as I want it every time. e.g. I have a morning layout for European markets, an afternoon layout layout for the US, and a laptop layout for my laptops little screen. I can switch between the three layouts at the click of a button.

4. They've included stochastics in their charting. I've asked them to include CCI so hopefully that will come later. They've told me that they have a full time developer working on charts now so hopefully more improvements to come in the future.



Rating: 9/10

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you have to be cerefull when they re-quote you .

you might see the spreads up-to 100 points for a stock of £8

Rating: 10/10

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