Thanks for the info folks...and i thought it was just me, some Arb opportunies of late have all but diminished now,,time to move on :-(
at Market !!!
Ok..
I try once more!
USE LIMITS AND YOU WONT HAVE A PROBLEM!!!
:cheesy:
hey, I hear ya, I do scalp Arbitrage so limit orders aren't really the solution :-o
davidnmfarrell
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I got requoted a few times this week by CMC, one re quote actually saved me BIGTIME (tried to short RIO at 5400)..
darktone
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yep.. we both log on through same network in our office... nailing pips yes.
I called them - asking "can you confirm my account fills are being executed like any other customer" - there reply - " how we execute your trades and conduct our business is quite frankly up to us"
- so set up through friend ..started creaming it again ..and now that has been set on delay too ... gr8 !
In answer to all the above posts: If you look back over the last 7 years you will find similar posts about CMC (Deal4Free). Many users nicknamed them STEAL4Free.
When they opened for trading in Australia a few years ago, Forums were inundated with complaints from traders who were amazed by the antics of CMC. Their posts may still be on Incrediblecharts.com.
They say they hedge your bets, so it doesn't matter to them whether you win or lose. This is rubbish, borne out by their requoting, delaying trades etc. A trick they use is to allow you to open a trade at the screen price and confirm it at a different price - which is always against you! When you phone them to query it, they will tell you you are mistaken or that the price changed at the very second you opened the trade. DO NOT ACCEPT THIS. Tell them you record the screen in real time and have proof of the trade price. They will back down!
PS. download (from the web) a screen capture program that has video capture, and turn it on a few seconds before you click to trade. Then you WILL have the proof if they persist.
IMPORTANT - If you trade with them, buy a cheap telephone recorder from Maplins and use it whenever you phone them. They can't deny a trade, or it's price later, which they have done to me on numbers of occassions. I closed my account with them because I felt I was dealing with a bunch of East End wide boys - well, thats how they talk, trade and treat you with contempt.
Pete
When they opened for trading in Australia a few years ago, Forums were inundated with complaints from traders who were amazed by the antics of CMC. Their posts may still be on Incrediblecharts.com.
They say they hedge your bets, so it doesn't matter to them whether you win or lose. This is rubbish, borne out by their requoting, delaying trades etc. A trick they use is to allow you to open a trade at the screen price and confirm it at a different price - which is always against you! When you phone them to query it, they will tell you you are mistaken or that the price changed at the very second you opened the trade. DO NOT ACCEPT THIS. Tell them you record the screen in real time and have proof of the trade price. They will back down!
PS. download (from the web) a screen capture program that has video capture, and turn it on a few seconds before you click to trade. Then you WILL have the proof if they persist.
IMPORTANT - If you trade with them, buy a cheap telephone recorder from Maplins and use it whenever you phone them. They can't deny a trade, or it's price later, which they have done to me on numbers of occassions. I closed my account with them because I felt I was dealing with a bunch of East End wide boys - well, thats how they talk, trade and treat you with contempt.
Pete
davidnmfarrell
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If CMC are that bad, who is considered better? Are IG any use?
Been requoted all the time with CMC this last fortnight, it's okay saying "use limit orders", not in a fast moving market like this. 1 click and you are in, ( or not as the case is with CMC)
Another thing I have noticed, they are 10 points off the other SB's, I have 3 tickets open for the US30 ( Dow Jones with different SB companies) and they are on the low side of the mid price by a long way. I guess if you I didn't have the others to compare with, I would just trade what I saw.
The converse side of that is, when the other two have started to move North in tandem, it means you usually can get in at a lower price with CMC, for now.
They also told me that it was a problem with my Direct X, but that has been off at least a week and still the same problems!
Another thing I have noticed, they are 10 points off the other SB's, I have 3 tickets open for the US30 ( Dow Jones with different SB companies) and they are on the low side of the mid price by a long way. I guess if you I didn't have the others to compare with, I would just trade what I saw.
The converse side of that is, when the other two have started to move North in tandem, it means you usually can get in at a lower price with CMC, for now.
They also told me that it was a problem with my Direct X, but that has been off at least a week and still the same problems!
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CMC MarketMaker is a real pile of ****. I've been trading online for ages now and this is the least reliable platform i have ever come across. I wouldn't have a problem with being re-quoted...if the re-quote was after i tried to submit the market order. In the event, the first time i know that an order hasn't been filled is when i get messages saying 'not enough equity'...so i try to figure out what the order was and in what direction, juggle the position about until i square off the margin, lose a bundle...5 mins later i get a re-quote, thanks CMC.
I'll admit, on 2occasions i earnt an extra couple fo quid from the re-quote, but trading in these conditions is risky enough, i don't need everything made conditional on CMC being able to fill the order as well.
I'll admit, on 2occasions i earnt an extra couple fo quid from the re-quote, but trading in these conditions is risky enough, i don't need everything made conditional on CMC being able to fill the order as well.
