CMC markets -legal action

This is a discussion on CMC markets -legal action within the The Foyer forums, part of the Off the Grid category; Originally Posted by onemillion But you have to be carafull bcos they are in Gibraltar which means your money will ...

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Old May 30, 2008, 1:03pm   #111
 
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Originally Posted by onemillion View Post
But you have to be carafull bcos they are in Gibraltar which means your money will be totaly outside the safe guarding client money rules. So, if they make a huge bet and lose, your money will go as well.
er no . . . everyone got monies repatriated in full within 5 days after their recent troubles + monies were held in Lloyds Bank london-based segregated client accounts
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Old May 30, 2008, 1:04pm   #112
 
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Why don't you go straight to market?
Way too sensible isn't it? All these S/Betters complaining but still avoid taking the professional route...betting pennies because it is tax free...
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Old May 30, 2008, 1:05pm   #113
 
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i am looking at few options at the moment. but i need marjin trades so i can take bigger risks and return (or loss)
yet another hilarious quote on so many levels!
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Old May 30, 2008, 1:06pm   #114
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i am looking at few options at the moment. but i need marjin trades so i can take bigger risks and return (or loss)
This is the crux of it....you simply don't know what your doing.

As pointed out previously.

onemillion = had your pants down
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Old May 30, 2008, 1:12pm   #115
 
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Originally Posted by onemillion View Post
What these companies do, is that intentionaly they execute or offer you the worst price while they execute your orders at best price in the market. Differance goes to them. Way they do this is to direct your order to a dealer who can delay and take advantage in anyway he/she likes. If you hundreds of trades in a day like i do, that can moke a lot of money for the company. That is illigal. this is manipulating the market price.
A couple years ago I was informed by someone who worked in the industry that some s/b were trading against their clients, especially those who were doing well. So what you said could well be true.

I took a look at their trading system a few years ago, and did not like what I see, there was clearly a price delay and distortion then. So I went to trade the Fx spot and index futures instead.

Sorry that I can't help you. I'm not sure how easy it is to find other people to come out to support you with simliar experiences, for one thing, some people maybe just too embarrassed to admit it.

If you have concrete evidence, then why not consult a lawyer. Getting a class action can take a long time. One thing to bear in mind is that even you have solid proof that they delayed the trade, you'll have to prove CMC did it intentionaly. This can only be verified by using CMC's internal timestamps at the order receiving time and order dealt time. The tricky part is that if you use internet to connect to CMC server, then they can blame all the delay on internet.

take care,
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Old May 30, 2008, 1:14pm   #116
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er no . . . everyone got monies repatriated in full within 5 days after their recent troubles + monies were held in Lloyds Bank london-based segregated client accounts
read some newspapers will you. In good times you are correct, money is in the bank. But If it wasnt Bank of England, many people had no chance getting their money from Northern Rock.

Are you saying they are safer then Northern Rock?
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Old May 30, 2008, 1:18pm   #117
 
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read some newspapers will you. In good times you are correct, money is in the bank. But If it wasnt Bank of England, many people had no chance getting their money from Northern Rock.

Are you saying they are safer then Northern Rock?
when you've dug a hole, stop digging
by posting here you're depriving a village of their idiot

etc etc etc

for someone claiming to be aware of rules and regs, you have absolutely no idea of such fundamental concepts as CLIENT SEGREGATED ACCOUNTS . . . muppet
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Old May 30, 2008, 1:22pm   #118
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Originally Posted by lagalere View Post
A couple years ago I was informed by someone who worked in the industry that some s/b were trading against their clients, especially those who were doing well. So what you said could well be true.

I took a look at their trading system a few years ago, and did not like what I see, there was clearly a price delay and distortion then. So I went to trade the Fx spot and index futures instead.

Sorry that I can't help you. I'm not sure how easy it is to find other people to come out to support you with simliar experiences, for one thing, some people maybe just too embarrassed to admit it.

If you have concrete evidence, then why not consult a lawyer. Getting a class action can take a long time. One thing to bear in mind is that even you have solid proof that they delayed the trade, you'll have to prove CMC did it intentionaly. This can only be verified by using CMC's internal timestamps at the order receiving time and order dealt time. The tricky part is that if you use internet to connect to CMC server, then they can blame all the delay on internet.

take care,


thanks for your comment. i will make my move in good time. At the moment i am getting more evidence, especialy from orher traders and i have good replies to my private message box.

I told them few times that they are trading agaist clients and manipulating prices. Of course they deny it. They have got away so long bcos no one taking them on in proper way.
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Old May 30, 2008, 1:31pm   #119
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Originally Posted by A Dashing Blade View Post
when you've dug a hole, stop digging
by posting here you're depriving a village of their idiot

etc etc etc

for someone claiming to be aware of rules and regs, you have absolutely no idea of such fundamental concepts as CLIENT SEGREGATED ACCOUNTS . . . muppet
just pis o** ill you. read the small prints in their contract when you open an account. i have managed to get rid off other comedians in here. you are one of the few left.
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Old May 30, 2008, 1:35pm   #120
 
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i have managed to get rid off other comedians in here. you are one of the few left.
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