CMC - are they for real?

[Atilla]

They're fine. Compared to a year ago I rarely seem to get requotes and are quick at filling orders. Much better that cantor, spreadex, cap spreads. Can't comment on IG. Good luck.

Sometimes one has to be weary of all these rookies slagging off CMC.

I can't help feeling some of these beginners are plants by competitors.

Either way any real traders out there starting off try them all and get on what ever floats your boat.

I'm happy with Capital Spreads for web based trading from work and CMC in the evenings when I'm on my PC.

I did try IG Index and I certainly didn't like their system of entry and exit prices that were way different to ticket prices.

Before somebody starts barking about volatility of 1000 point price moves in all of 1 minute... Yes yes I know... Been trading for 5 years and I'm no tea boy to spread betting. I still hold the view CS and CMC are far better and speed of response faster when quoting & requoting prices.

I think if these rookies further continue with their CMC blatant obvious put downs, I'm going to be sick... Strange how they don't comment on any other trading related threads. :cheesy:

 

[rudeoilbarron]

Hi Atilla,

Are you referring to my message? I am a real trader who trades with various platforms. I have only joined T2W recentely and like to read threads relevent to me, and if I have an experience to share then I'm happy to contirbute.

If you disagree with any of the points I have made then please feel free to respond to them directly.

I respect your opinion

R.O.B

 

[Atilla]

Hi Atilla,

Are you referring to my message? I am a real trader who trades with various platforms. I have only joined T2W recentely and like to read threads relevent to me, and if I have an experience to share then I'm happy to contirbute.

If you disagree with any of the points I have made then please fell free to respond to them directly.

I respect your opinion

R.O.B

Nope I can see yours is an honest give and take account. Some of the rookie comments in previous pages essentially.

I'm always sceptical of people wielding an axe with such heavy bias.

Welcome and best regards,

 

[rudeoilbarron]

Yes I agree. I think the problem stems from the relatively inexperienced retail trader trading an already complex platform while not being helped in the slightest by various technical problems. There are bound to be lots of people who didn't understand how and why they lost money.

Well thanks for the welcome

R.O.B

 

[peterfriend1]

well i havnt heard that excuse from cmc before (there is a bug in the system and it automatically cancels your if done order, what a load of utter crap.
Believe me HW07 you would not have been refunded if you had more than 1 pound per tick. I had 500 per tick and lost 7 grand, they didnt refund me.
Also twice this week i have closed out at the end of the night and left no positions open and reopened in the morning WITH positions open.
I bought 5 contracts last night on DOW and at the end of the night i closed out all positions.
I have reopened this morning to find there is a position still open.
CMC are a complete WASTE OF TIME, Mickey Mouse company.
I have opened acc with GFT.

 

[newt24]

well i havnt heard that excuse from cmc before (there is a bug in the system and it automatically cancels your if done order, what a load of utter crap.
Believe me HW07 you would not have been refunded if you had more than 1 pound per tick. I had 500 per tick and lost 7 grand, they didnt refund me.
Also twice this week i have closed out at the end of the night and left no positions open and reopened in the morning WITH positions open.
I bought 5 contracts last night on DOW and at the end of the night i closed out all positions.
I have reopened this morning to find there is a position still open.
CMC are a complete WASTE OF TIME, Mickey Mouse company.
I have opened acc with GFT.

Make a complane Peter, phone the helpdesk and say you want to talk to the compliance dept about this. I would if I was you, I've stopped using them.



"CMC are a complete WASTE OF TIME, Mickey Mouse company."

 

[rudeoilbarron]

Hi,

I have found that there does seem to be a couple of bugs with the system. I have been caught out on occassion thinking that a position has been closed because the order position window has told me that I'm in the market at £0/p (closed out) when in fact after I have restarted the software I am actually still in the market. All I can suggest is to restart the software as often as you can, certainly after exiting orders and once or twice a session. Also make use of the 'executed orders' blotter as this generally doesn't lie.

I have also been refunded once in the past after a long email to compliance, but only once. I have not been refunded for a couple of other errors on their part. Why do I still use them? Mainly because I am used to the problems and know how to get around them, and also because I'd like to make as much money from them as possible before I find a better spread betting company. I am currentely trialling GFT and like them very much so far, but I have only experienced demo. The trailing stop facility and tight stop order placement is brilliant.

R.O.B

 

[ibex666]

losing money

Have to agree. when people lose they start wielding the axe against the sb firm. As ive said before emotions cannot be allowed to enter stage. Its not just cmc, all the firms come under a hammering from people when the "game" goes against them. especially newbies. come on guys weve all been there, we all know what the score is !!!
OK cmc have their faults at the moment regarding their charting issues, but their trading practices are no different from any other sb firm. On other postings finnspreads come under HEAVY fire, but they still have their advocates. It tends to be the inexperienced money losers that have the gripes. Im not defending the sb firms, but at the end of the day we ALL sign that dotted line, and we ALL know what were up against>

 

[coolTrader]

Hi,

I have found that there does seem to be a couple of bugs with the system. I have been caught out on occassion thinking that a position has been closed because the order position window has told me that I'm in the market at £0/p (closed out) when in fact after I have restarted the software I am actually still in the market. All I can suggest is to restart the software as often as you can, certainly after exiting orders and once or twice a session. Also make use of the 'executed orders' blotter as this generally doesn't lie.

I have also been refunded once in the past after a long email to compliance, but only once. I have not been refunded for a couple of other errors on their part. Why do I still use them? Mainly because I am used to the problems and know how to get around them, and also because I'd like to make as much money from them as possible before I find a better spread betting company. I am currentely trialling GFT and like them very much so far, but I have only experienced demo. The trailing stop facility and tight stop order placement is brilliant.

R.O.B

Em...... this bug has been there since 2004. I had a wonderful time trading their system. Close the screen and come back and find trades still there, spikes at night on the dow... oh Pllleeeeease.... Left them ages ago...

 

[grimweasel]

Market Maker has given me loads of 'phantom' trades, as described above where the order window shows the trade being closed etc only to still be open on next re-boot.
I made a complaint yesterday as I was long £2 pp gold and closed out half the position using MarketMaker. When I came back an hour later I'd been closed out of the trade totally. The order for £1 close had gone thru twice at their end!
I had to send them some log files, but sure enough, it was a phantom order that I didn't place, so they refunded me £130.
Why do I keep getting requotes from them too? Can't say I trust the MMaker platform so I'm looking for another broker. Any rec's? I need one with all the orders available.

 

[Phil Mibbutz]

Market Maker has given me loads of 'phantom' trades, as described above where the order window shows the trade being closed etc only to still be open on next re-boot.
I made a complaint yesterday as I was long £2 pp gold and closed out half the position using MarketMaker. When I came back an hour later I'd been closed out of the trade totally. The order for £1 close had gone thru twice at their end!
I had to send them some log files, but sure enough, it was a phantom order that I didn't place, so they refunded me £130.
Why do I keep getting requotes from them too? Can't say I trust the MMaker platform so I'm looking for another broker. Any rec's? I need one with all the orders available.

Yes, MM platform does some odd things... Have you had positions/orders that appear and disappear, so you don't know if they exist, or parts of windows vanishing?

 

[Emini-mouse]

Hi,

I have found that there does seem to be a couple of bugs with the system. I have been caught out on occassion thinking that a position has been closed because the order position window has told me that I'm in the market at £0/p (closed out) when in fact after I have restarted the software I am actually still in the market. All I can suggest is to restart the software as often as you can, certainly after exiting orders and once or twice a session. Also make use of the 'executed orders' blotter as this generally doesn't lie.

I have also been refunded once in the past after a long email to compliance, but only once. I have not been refunded for a couple of other errors on their part. Why do I still use them? Mainly because I am used to the problems and know how to get around them, and also because I'd like to make as much money from them as possible before I find a better spread betting company. I am currentely trialling GFT and like them very much so far, but I have only experienced demo. The trailing stop facility and tight stop order placement is brilliant.

R.O.B

yes this happens espesialy when getting lots of requotes but you do not have to reboot,
just close and reopen the client position keeping window and it will display your current position

 

[Countvonaltibar]

I've been refunded twice over the last year when using MM platform. You must watch it like a hawk as they say. Personally, I always check my 'current positions' statement before logging off to check that all is as should be.

 

[TomTom]

CMC are a law on to themself, they can tell you what they like over the phone as not all lines are recorded. And yes there staff know this.
Is this an underhanded way of doing business or just incompetence failing of FSA guidance ?
Your decide.
By now you all know my story and what happed with CMC....

 

[newt24]

with this cowboy of a company, whats the slippage for ES or YM? have you guys had problems with the slippage (I guess ALOT of people have!!)

 

[Countvonaltibar]

Re-quotes are a way of life at CMC and as posted previously, if the trade is in your favour it gets filled so as to leave them 'quids-in' overall. I've seen this too many times with CMC markets over the last couple of years, they're not a good player in the spreadbetting world.

 

[chrisis]

To the Goose - they wont give you a quote without your account number because they give different quotes to different clients... imagine if you got ripped off and then called back anon and find out?!