CMC Markets - Next Generation Platform

This is a discussion on CMC Markets - Next Generation Platform within the Spread Betting & CFDs forums, part of the Commercial category; Originally Posted by JDTRADER I sent a link to CMC for this thread so lets see if they reply.......... Hi ...

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Old Sep 6, 2010, 11:35am   #16
Joined Jan 2008
Re: CMC Markets - Next Generation Platform

Quote:
Originally Posted by JDTRADER View Post
I sent a link to CMC for this thread so lets see if they reply..........
Hi guys, I work at CMC Markets and just wanted to address some issues from this thread.

As of today we have cut many of our spreads on our most popular instruments including the UK100, German 30 and major FX pairs. We are addressing the fact many SB companies quote spreads from X points but then if you check the average spreads it can be much higher. We aim to offer the most consistent, competitive spreads in the market with exceptional execution, even during Non Farms or major market events such as the Flash Crash during the summer.

As regards to the charts, there will be constant updates every couple of weeks to add in the core functionality and technical indicators required. It is not our plan to stop work on this system, expect constant, regular updates and a world class charting package very shortly. Seriously.

I'm a big fan of the old Marketmaker system but many of its features will be replicated on the next gen system including multiple saved layouts and additional trading tools.

CMC is changing and we do listen to clients, its been a long time coming guys, expect great things to come.

With our new pricing, improving charting and fast execution with no re-quotes, we hope that many of you will consider looking a little deeper into our new technology.

We do monitor many of these trading forums and are looking to address your comments more regularly.

Good luck with your trading

Regards

Craig
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Old Sep 6, 2010, 12:31pm   #17
Joined Jul 2010
Re: CMC Markets - Next Generation Platform

Quote:
Originally Posted by craigci05 View Post
Hi guys, I work at CMC Markets and just wanted to address some issues from this thread.

As of today we have cut many of our spreads on our most popular instruments including the UK100, German 30 and major FX pairs. We are addressing the fact many SB companies quote spreads from X points but then if you check the average spreads it can be much higher. We aim to offer the most consistent, competitive spreads in the market with exceptional execution, even during Non Farms or major market events such as the Flash Crash during the summer.

As regards to the charts, there will be constant updates every couple of weeks to add in the core functionality and technical indicators required. It is not our plan to stop work on this system, expect constant, regular updates and a world class charting package very shortly. Seriously.

I'm a big fan of the old Marketmaker system but many of its features will be replicated on the next gen system including multiple saved layouts and additional trading tools.

CMC is changing and we do listen to clients, its been a long time coming guys, expect great things to come.

With our new pricing, improving charting and fast execution with no re-quotes, we hope that many of you will consider looking a little deeper into our new technology.

We do monitor many of these trading forums and are looking to address your comments more regularly.

Good luck with your trading

Regards

Craig
Welcome!

What are your spreads on the main indices and FX pairs? Can't seem to find a list on the site.

Also, what will happen to the old platforms now, and why is it necessary to open a new account? I suppose that would be OK if there was some tempting credit offer.
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Old Sep 6, 2010, 2:12pm   #18
Joined Jan 2008
Re: CMC Markets - Next Generation Platform

The spreads are dynamic, meaning that they are constantly on the move but we are looking to offer the most consistent pricing even during volatile markets. Right now we are 1.3 pips on the UK100 and German30, 2.5 for GBPUSD and 1.6 for EURUSD. Big difference is sometimes we will be even much tighter but we will be rarely above these figures.

Other firms advertise spreads from 1 point yet their average spreads over the day will be slightly higher than ours. For those of you who trade with other providers please look at our demo account and compare the prices, sometimes their prices will be better, other times ours, the main winners are you guys, you get choice

The old platform is still going to run for a while, though the improved spreads and new tools are only available on the next gen system.

You have to open a new account because we now have new terms of business, the way CMC Markets now does business is very different from many within the industry

Hope this helps

Regards

Craig
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Old Sep 6, 2010, 4:03pm   #19
Joined Dec 2002
Re: CMC Markets - Next Generation Platform

Whose decsion was it to scrap one of the best platforms around and introduce some clunky neon coloured 90's shell suit inspired piece of ****e?

Also, when you turn off Market Maker are you essentially just closing my account? Why not migrate the accounts? You're going to lose so much business through client apathy. Are your executive board on crack?
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Old Sep 6, 2010, 4:08pm   #20
Joined Apr 2010
Re: CMC Markets - Next Generation Platform

Quote:
Originally Posted by PualoP View Post
Whose decsion was it to scrap one of the best platforms around and introduce some clunky neon coloured 90's shell suit inspired piece of ****e?

Also, when you turn off Market Maker are you essentially just closing my account? Why not migrate the accounts? You're going to lose so much business through client apathy. Are your executive board on crack?
cos they probably want to stuff new rigged T's & C's down new clients throats.
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Old Sep 6, 2010, 4:19pm   #21
Joined Jul 2010
Re: CMC Markets - Next Generation Platform

Quote:
Originally Posted by PualoP View Post
Whose decsion was it to scrap one of the best platforms around and introduce some clunky neon coloured 90's shell suit inspired piece of ****e?

Also, when you turn off Market Maker are you essentially just closing my account? Why not migrate the accounts? You're going to lose so much business through client apathy. Are your executive board on crack?
Yes, why not just flash up a new T&C box to click? CMC seem determined to lose half their clients.

Another question: if the old platform is phased out, what happens to the Level 2 part of MM investor Edition?
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Old Sep 6, 2010, 4:49pm   #22
Joined Jan 2008
Re: CMC Markets - Next Generation Platform

Hi Guys

I would very much like to be able to migrate all Marketmaker accounts straight across to next gen but it is the fact we now have new terms of business for the new platform. There have been a few clients who really love the old Marketmaker platform, who are not keen to make the switch to next gen, but believe me this system is vast improvement, especially in the backend, the trade execution and pricing is far superior. You just have to give it a chance, even using a demo to check it out in more detail.

I understand peoples scepticisms, you've heard it all before, we will let the platform do the talking and continue to listen to your feedback. We would never expect to convince clients right away that things really are different, it will take time.We are really expecting to change the market with this system, I hope you guys will come back and take another look soon.

Hope the trading is going well

Regards

Craig
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Old Sep 6, 2010, 6:03pm   #23
Joined Jul 2010
Re: CMC Markets - Next Generation Platform

Quote:
Originally Posted by craigci05 View Post
Hi Guys

I would very much like to be able to migrate all Marketmaker accounts straight across to next gen but it is the fact we now have new terms of business for the new platform. There have been a few clients who really love the old Marketmaker platform, who are not keen to make the switch to next gen, but believe me this system is vast improvement, especially in the backend, the trade execution and pricing is far superior. You just have to give it a chance, even using a demo to check it out in more detail.

I understand peoples scepticisms, you've heard it all before, we will let the platform do the talking and continue to listen to your feedback. We would never expect to convince clients right away that things really are different, it will take time.We are really expecting to change the market with this system, I hope you guys will come back and take another look soon.

Hope the trading is going well

Regards

Craig
Long story short - in the past CMC have conned me. But I am willing to give people the benefit of doubt. Your new offering SOUNDS good.

Can you, honestly, promise us all that we will NEVER EVER suffer a requote/price freeze or any such thing when entering a trade OR exiting one with your new platform?

Will we be able to literally have the price we see each and every time?

If so, if we honestly can, then yes perhaps your new offering can set the standard of SB companies.

Can you promise this? Or is there smallprint??

TOC
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Old Sep 6, 2010, 7:57pm   #24
Joined Apr 2010
Re: CMC Markets - Next Generation Platform

Quote:
Originally Posted by craigci05 View Post
Hi Guys

I would very much like to be able to migrate all Marketmaker accounts straight across to next gen but it is the fact we now have new terms of business for the new platform. There have been a few clients who really love the old Marketmaker platform, who are not keen to make the switch to next gen, but believe me this system is vast improvement, especially in the backend, the trade execution and pricing is far superior. You just have to give it a chance, even using a demo to check it out in more detail.

I understand peoples scepticisms, you've heard it all before, we will let the platform do the talking and continue to listen to your feedback. We would never expect to convince clients right away that things really are different, it will take time.We are really expecting to change the market with this system, I hope you guys will come back and take another look soon.

Hope the trading is going well

Regards

Craig
Hi Craig

Firstly thankyou for comming on here to answer some of our questions.

I fully understand that from a company point of view you of course have to believe in your product however I have always thought that cmc was aimed more at people who trade for the longer term rather than those that come lose their money and never come back?

If you are looking to keep/attract more serious traders then I would ask you this:

Why are you 4 times as expensive as city index ( and twice as expensive as ig)on the daily dow?
I trade with cityindex and have only had one occasion when the price on screen was not the price I got when I traded.

Why have you introduced a software package which is no where near as good as the current marketmaker?
I mean it does not even have basic things like multi chart ability and pop outs this was basic stuff that marketmaker had years ago!I can't even see basic indicators like pivots unless I am missing something.

Are you really saying that the new charting software will shortly be better than marketmaker because if thats not the case you are expecting us to use a platform which is inferior to what we have now is that progress?

I think what you are doing is playing into the hands of other sb's particularly IG who you must admit now have a far far better charting package.

Once again thanks for taking time to answer the questions and I agree that you are very good at trading during volatile markets but I have had an account with you for many years and just can not believe you expect serious traders to use that chart software I suspect someone upstairs has made a big mistake unless like I say you are just looking for the non serious spread betting punters.

Regards

Tim
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Old Sep 6, 2010, 8:46pm   #25
Joined Jul 2010
Re: CMC Markets - Next Generation Platform

It's all a bit of a mystery. They're going to struggle to get clients unless they have some 'free money' offers, which tend to attract punters who soon blow accounts and disappear.
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Old Sep 6, 2010, 8:55pm   #26
Joined Apr 2010
Re: CMC Markets - Next Generation Platform

Quote:
Originally Posted by Ross Spur View Post
It's all a bit of a mystery. They're going to struggle to get clients unless they have some 'free money' offers, which tend to attract punters who soon blow accounts and disappear.
Its a shame really because it now means that in terms of serious chart packages there is now really only ig out there (of the ones I have seen) and I suspect they will now gain even more market share.
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Old Sep 6, 2010, 8:58pm   #27
Joined Jul 2010
Re: CMC Markets - Next Generation Platform

When they work, GFT has the best charts, IMO. IG's are the same as ETX's, I think.
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Old Sep 6, 2010, 11:33pm   #28
Joined Jan 2009
Re: CMC Markets - Next Generation Platform

JDTRADER started this thread
Quote:
Originally Posted by craigci05 View Post
Hi guys, I work at CMC Markets and just wanted to address some issues from this thread.

As of today we have cut many of our spreads on our most popular instruments including the UK100, German 30 and major FX pairs. We are addressing the fact many SB companies quote spreads from X points but then if you check the average spreads it can be much higher. We aim to offer the most consistent, competitive spreads in the market with exceptional execution, even during Non Farms or major market events such as the Flash Crash during the summer.

As regards to the charts, there will be constant updates every couple of weeks to add in the core functionality and technical indicators required. It is not our plan to stop work on this system, expect constant, regular updates and a world class charting package very shortly. Seriously.

I'm a big fan of the old Marketmaker system but many of its features will be replicated on the next gen system including multiple saved layouts and additional trading tools.

CMC is changing and we do listen to clients, its been a long time coming guys, expect great things to come.

With our new pricing, improving charting and fast execution with no re-quotes, we hope that many of you will consider looking a little deeper into our new technology.

We do monitor many of these trading forums and are looking to address your comments more regularly.

Good luck with your trading

Regards

Craig
Hi Craig

Thanks for coming and answering questions on behalf of CMC.

I do feel that CMC should of waited till the new next gen was fully ready before pushing a sub standard platform (as it stands today) to the market.

I think traders will pop in on the demo and think its rubbish, now they prob won't pop in again.

With regards to Market Maker I think this should be kept for the more serious retail trader.

Plus there should be some incitement for clients to switch over.

Spreads from what I see are as tight but with a 0.6 added for CMC.

The new platform is web based and every platform I used that is web based has always got problems with freezing or delays. There should be a download version.

I hope that the new platform has all the functionality of Market Maker in time (How long is that ? 1 month, 6 months or more ?) and if so I'll prob deposit if you give some incitement to do so.

Regards
JD

And Thanks
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Old Sep 7, 2010, 8:50am   #29
Joined Jan 2008
Re: CMC Markets - Next Generation Platform

Quote:
Originally Posted by tim3 View Post
Hi Craig

Firstly thankyou for comming on here to answer some of our questions.

I fully understand that from a company point of view you of course have to believe in your product however I have always thought that cmc was aimed more at people who trade for the longer term rather than those that come lose their money and never come back?

If you are looking to keep/attract more serious traders then I would ask you this:

Why are you 4 times as expensive as city index ( and twice as expensive as ig)on the daily dow?
I trade with cityindex and have only had one occasion when the price on screen was not the price I got when I traded.

Why have you introduced a software package which is no where near as good as the current marketmaker?
I mean it does not even have basic things like multi chart ability and pop outs this was basic stuff that marketmaker had years ago!I can't even see basic indicators like pivots unless I am missing something.

Are you really saying that the new charting software will shortly be better than marketmaker because if thats not the case you are expecting us to use a platform which is inferior to what we have now is that progress?

I think what you are doing is playing into the hands of other sb's particularly IG who you must admit now have a far far better charting package.

Once again thanks for taking time to answer the questions and I agree that you are very good at trading during volatile markets but I have had an account with you for many years and just can not believe you expect serious traders to use that chart software I suspect someone upstairs has made a big mistake unless like I say you are just looking for the non serious spread betting punters.

Regards

Tim
It is not in CMC Markets interests for clients to lose money, we now actively hedge our client positions, unlike many SB firms. We work in partnership with our clients not against them. The new platform even has safety features such as automatic stop losses set to every trade (this can be turned off) and there are more risk management functions to come very soon.

The charting function is a continuing journey here at CMC Markets, expect many many more technicals, full drawing tools, the ability to save your layouts and a lot more im not able to talk about on an open forum. I am a fully qualified technical analyst myself, we will not be satisfied until we have above and beyond the best free charting package in the market, expect constant improvements.

For serious traders, what more can you ask for than 100% automation of all trades, no dealer intervention, no requotes and execution speeds of milliseconds, CMC has changed dramatically from what it was able to offer previously. This is the true power of the next gen system, feel free to check it out, there is a free, life time demo and even an Iphone app

Thanks for taking the time to voice your concerns

Regards

Craig
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Old Sep 7, 2010, 10:26am   #30
Joined Jan 2008
Re: CMC Markets - Next Generation Platform

Quote:
Originally Posted by JDTRADER View Post
Hi Craig

Thanks for coming and answering questions on behalf of CMC.

I do feel that CMC should of waited till the new next gen was fully ready before pushing a sub standard platform (as it stands today) to the market.

I think traders will pop in on the demo and think its rubbish, now they prob won't pop in again.

With regards to Market Maker I think this should be kept for the more serious retail trader.

Plus there should be some incitement for clients to switch over.

Spreads from what I see are as tight but with a 0.6 added for CMC.

The new platform is web based and every platform I used that is web based has always got problems with freezing or delays. There should be a download version.

I hope that the new platform has all the functionality of Market Maker in time (How long is that ? 1 month, 6 months or more ?) and if so I'll prob deposit if you give some incitement to do so.

Regards
JD

And Thanks
I'll be the first to admit that the charts are currently a little basic but you guys know now what our plans are going forward. It is a worry of mine that some clients will look at the platform for 5 mins, see only a few technicals and make a snap judgement about its capabilities as a trading platform, that's exactly why I feel compelled to ask you guys to simply try it out, compare the pricing and compare the execution to your other providers. I think you will be pleasantly surprised. We never walk away from an order ticket, you will always get filled. We have no requotes and don't operate with a fill or kill policy, as other firms do.

Ultimately, the provider that offers the best execution with constantly competitive pricing will be the one that gets all the business, the charting and other more exciting tools and features will come shortly.

The idea is to offer a core system for everyone with more advanced tools and functions added to cater for more sophisticated traders.

Thanks for the feedback so far

Regards

Craig
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