CMC Markets - Next Generation Platform

gle101 said:
If you look at the history records you should be able to see if they closed your position and the price you paid. I guess you are trading CFDs? I do not trade live with CMC, some market makers do close overnight position and open them in the morning again. In your case it might be Sunday evening Swedish local time (you have to look up when the start trading your currency pair). Sorry, but 10k in a position and an unexpected small move against you with a gap in the market, could wipe out your entire account, and even put you in a position where you own the company you trade with a lot of money.

____________
"Take control with Risk & Money Management"
Planning, Risk & Money Management
Click to expand...

Hi,
Thanks so much for your reply. Yes, I am trading CFDs. Well, I have checked my history records, and it is not closed. Last position was this EURCHF position I took yesterday and it clearly shows so in the history. CMC does do the rolling on weekdays, but it's for the first time I had a open position on weekend, so I have no clue how they handle it.
Well, If the market falls to 1.2 from curently level of 1.2163, very unlikely though, I lose 173 $, which I can absorb. But, yes, what you are saying does make sense. As someone mentioned on the other page that 100 pips stop is something they might do in anticipation of gap in the market. May be they don't want a situation where I owe them money, so they just temporarily "closed" position at 1.2063 as a precautionary measure only to open it on Sunday night, and this 100 pip loss roughly translates to 102$ loss, which they subtracted from equity to ensure that this money is "not free". I can clearly see that I am still in position because "Total Margin: 32.33$", which is 0.25% of 10k.
Let's see tomorrow. Happy new year to you.
 
swedendenmark said:
Hi,
Thanks so much for your reply. Yes, I am trading CFDs. Well, I have checked my history records, and it is not closed. Last position was this EURCHF position I took yesterday and it clearly shows so in the history. CMC does do the rolling on weekdays, but it's for the first time I had a open position on weekend, so I have no clue how they handle it.
Well, If the market falls to 1.2 from curently level of 1.2163, very unlikely though, I lose 173 $, which I can absorb. But, yes, what you are saying does make sense. As someone mentioned on the other page that 100 pips stop is something they might do in anticipation of gap in the market. May be they don't want a situation where I owe them money, so they just temporarily "closed" position at 1.2063 as a precautionary measure only to open it on Sunday night, and this 100 pip loss roughly translates to 102$ loss, which they subtracted from equity to ensure that this money is "not free". I can clearly see that I am still in position because "Total Margin: 32.33$", which is 0.25% of 10k.
Let's see tomorrow. Happy new year to you.
Click to expand...
Well I guess I misunderstood how much money you put into the market on this single position. Now knowing your trade being a CFDs I guess it is a lot less per point than what I first anticipated. Nevertheless my argument still holds true as money management is what it is all about. Be sure to check the exact opening time for your currency pair at CMC website.

Same to you, Gott Nytt År!

____________
"Take control with Risk & Money Management"
Planning, Risk & Money Management
 
gle101 said:
Well I guess I misunderstood how much money you put into the market on this single position. Now knowing your trade being a CFDs I guess it is a lot less per point than what I first anticipated. Nevertheless my argument still holds true as money management is what it is all about. Be sure to check the exact opening time for your currency pair at CMC website.

Same to you, Gott Nytt År!

____________
"Take control with Risk & Money Management"
Planning, Risk & Money Management
Click to expand...

Hi,
Thanks for your message. Yes, I agree with you. Money management is important, I did take a risk, as floor defined by SNB for EURCHF. Market open for this pair at 22:00 Copenhagen time. Let's see. I will update you on how CMC handled it :)
take care
Godt nytår
 
Pipsaholic said:
Hey I am considering switching to CMC seen some of the prices are cheaper than my current broker, however was is the actual spread you guys are getting like in the past few days on the major spot fx pairs?

Cheapest price I get is on the EUR/GBP/ EUR/USD is 2.0 points rest are 3.0 - 10 point spreads!
Click to expand...
On the eur/usd the spread at its closest is 0.7 and from there go out to 3.0 pts or more. I don't really know because whether getting in or out I always wait till it narrows to .07 before I hit the button.
I also wait for a down tick and a 0.7 spread before going long and when getting out with a profit I'm not nearly so fussy, although I still wait for a favourable tick and spread.
This technique helps a lot to minimise losses. Then again I'm only trading small,
I might find it harder as I increase my size.
 
monochrome said:
I'm interested in forex and commodities. I am in a dilemma, I'm considering between CMC and Options Xpress. I know that both very quite different, but both allows me flexibility with my capital.

CMC allows flexible positions as they offer cash commodities without having to transact in actual futures contract size.

OX offers mini futures for some commodities, however OX platform seems to be more primitive (just in my opinion, no flames please).

So I'm inclined towards CMC.

I tried TOS' platform, it was very nice, it has all the tools needed, the charts look good and it's not that expensive. However, they only offer standard contract size which can cause risk management to be quite a problem considering the fact that my capital is below 10k.

My trading time-frame is between days to months, no intra-days at all. So I want to be sure if CMC's slippage and other cons will not affect my trading.

Anyway, happy 2012 from the other side of the world. :)
Click to expand...

Personally I don't like what CMC offer as a platform and I don't like the way they run their business, but as a long term trader they might work better for you, best to give them a go and see how it works out.

I've never had any problem in getting payments from them so no worries there.

Happy new year to you and all in Singapore (y)
 
x4x said:
Personally I don't like what CMC offer as a platform and I don't like the way they run their business, but as a long term trader they might work better for you, best to give them a go and see how it works out.

I've never had any problem in getting payments from them so no worries there.

Happy new year to you and all in Singapore (y)
Click to expand...

Hah! I'm a Singaporean too. Please to meet you.
 
swedendenmark said:
Hej,
CMC Markets rolled my EURCHF position further, with some 3 pip loss, which is ok. So, yes, as you said they did it in anticipation of gap in. Thanks so much for your kind help day before yesterday :) I hope you had a good new year eve celebrations :)
Hej då
Click to expand...
Thanks, yes the family had a good time with quite a few beers for myself.:)

Fine that it didn't cost you more, good learning experience though. Hejdå and hope to see you around this forum.

____________
"Take control with Risk & Money Management"
Planning, Risk & Money Management
 
I have done some "serious" demo trading (as this is the only thing I can do at the present time) with CMC next-gen and if the real live account is the same as the demo account, I have to say that the execution time is way too slow, 2-3 seconds will not do resulting in way too many trade rejection with Boundary set to 0.3. I did however get many trades at 0.70 and prior to US open 0.7 point spread is a really good deal despite of the trade rejections. I guess that one has to increase the Boundary in order to get executed. However in order for me to start trading live with them the execution on the live account has to be better compared to that of the demo account, usually it is the other way around, but maybe in CMC case it is the same?

____________
"Take control with Risk & Money Management"
Planning, Risk & Money Management
 
gle101 said:
I have done some "serious" demo trading (as this is the only thing I can do at the present time) with CMC next-gen and if the real live account is the same as the demo account, I have to say that the execution time is way too slow, 2-3 seconds will not do resulting in way too many trade rejection with Boundary set to 0.3. I did however get many trades at 0.70 and prior to US open 0.7 point spread is a really good deal despite of the trade rejections. I guess that one has to increase the Boundary in order to get executed. However in order for me to start trading live with them the execution on the live account has to be better compared to that of the demo account, usually it is the other way around, but maybe in CMC case it is the same?
Click to expand...

Glad to see you're enjoying CMC, I did tell you to look forward to the pretty spinning circle, but I seem to remember you had a go at me for ranting. Will be interesting to see if your 'ranting' gets worse when you go live - good luck.
 
gle101 said:
I have done some "serious" demo trading (as this is the only thing I can do at the present time) with CMC next-gen and if the real live account is the same as the demo account, I have to say that the execution time is way too slow, 2-3 seconds will not do resulting in way too many trade rejection with Boundary set to 0.3. I did however get many trades at 0.70 and prior to US open 0.7 point spread is a really good deal despite of the trade rejections. I guess that one has to increase the Boundary in order to get executed. However in order for me to start trading live with them the execution on the live account has to be better compared to that of the demo account, usually it is the other way around, but maybe in CMC case it is the same?

____________
"Take control with Risk & Money Management"
Planning, Risk & Money Management
Click to expand...


What I don't get is where the delay occurs. Is it in the actual platform, which does everything slowly, or is it some sort of built in feature to protect CMC, in which case the 0.7pt spreads are very little use?
 
gle101 said:
I have done some "serious" demo trading (as this is the only thing I can do at the present time) with CMC next-gen and if the real live account is the same as the demo account, I have to say that the execution time is way too slow, 2-3 seconds will not do resulting in way too many trade rejection with Boundary set to 0.3. I did however get many trades at 0.70 and prior to US open 0.7 point spread is a really good deal despite of the trade rejections. I guess that one has to increase the Boundary in order to get executed. However in order for me to start trading live with them the execution on the live account has to be better compared to that of the demo account, usually it is the other way around, but maybe in CMC case it is the same?
Click to expand...

How did you measure "execution time"? The time you see the confirmation dialogbox is not the time the order was executed, because you can already see a profit/lost on confirmation.
 
wzero said:
How did you measure "execution time"? The time you see the confirmation dialogbox is not the time the order was executed, because you can already see a profit/lost on confirmation.
Click to expand...
By observing how they handle the Boundary I set, way too often I have been rejected due to the execution time. When I click and during the time 2-3 seconds, the markets moves in my favor I get rejected. So from the time I click to the time I get filled (if I get filled) is too long. Otherwise things are working fine with CMC.

____________
"Take control with Risk & Money Management"
Planning, Risk & Money Management
 
Ross Spur said:
What I don't get is where the delay occurs. Is it in the actual platform, which does everything slowly, or is it some sort of built in feature to protect CMC, in which case the 0.7pt spreads are very little use?
Click to expand...
I can handle the way to set up the orders, it takes time but that it is not a problem for me. Yes, when I click on market order some sort of execution delay is in palace, meaning that there is a bigger chance of the Boundary you set being violated. This might not be deliberately, as there is some calculations that must take place (takes too long though) with the Boundary settings. I will test market orders without a Boundary to see if I get executed quicker.
____________
"Take control with Risk & Money Management"
Planning, Risk & Money Management
 
Last edited:
New to posting. I'm currently testing quite a few platforms and suprised by the amount of smoke and mirrors used to attract new clients. The details really are in the small print. I've got a couple of favourites at the moment which I am testing with both demo and live accounts. Naturally, the live accounts seem to have more functionality which you'd expect. What has disappointed me is the companies I assumed would be the best have been far from and rely more on clever marketing and wording.
 
newdirection said:
New to posting. I'm currently testing quite a few platforms and suprised by the amount of smoke and mirrors used to attract new clients. The details really are in the small print. I've got a couple of favourites at the moment which I am testing with both demo and live accounts. Naturally, the live accounts seem to have more functionality which you'd expect. What has disappointed me is the companies I assumed would be the best have been far from and rely more on clever marketing and wording.
Click to expand...

As this is the CMC thread, we assume that's one of the disappointments?
 
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