Best Thread CMC Markets owner answers your questions

[x4x]

Great post Peto - you have confirmed all the good and bad points of CMC, all of which are consistent with previous live feedback from myself and others. We know ticket and chart improvements are on the way - and if stops could be hit (most times) on the price, CMC would be trader's heaven - I don't know what more one could ask for.

 

[PC at CMC Markets]

hi 4x4

Fair point and the things that need fixing are a lot easier to fix than getting spreads and execution to the highest level. We will fix these things and getting close now.
I want to work on another one click solution but lets get the first fix in first and then we can discuss. I wouldnt mind having a brain storming session with some live traders so we can really nail what you need to make sure that we deliver this. it could be a session with our I.T head and some of the team here, me included to really nail it big time.
Lets get the next lot of releases out over the coming weeks.

thanks for feed back
pc

Great post Peto - you have confirmed all the good and bad points of CMC, all of which are consistent with previous live feedback from myself and others. We know ticket and chart improvements are on the way - and if stops could be hit (most times) on the price, CMC would be trader's heaven - I don't know what more one could ask for.

 

[PC at CMC Markets]

hi everybody.

I just noticed I have done over 1000 postings on this site. That goes to show you how much I value your input and feed back. I normally log on three or four times daily some times more. I even log on when I am on holiday to see what is happening.

I think barjon should send me bottle of champagne for my birthday on 30th September. ha ha.

anyway I enjoy the site, I enjoy the feed back good or bad and I enjoy the banter.

Thanks for your postings and looking forward to the next 1000 postings.

Peter Cruddas
Executive Chairman and Founder
CMC Markets

 

[x4x]

Hi PC,

It's great that you are really taking the bull by the horns and I for one will be happy to contribute in any way I can.

Cheers.

 

[x4x]

hi everybody.

I just noticed I have done over 1000 postings on this site. That goes to show you how much I value your input and feed back. I normally log on three or four times daily some times more. I even log on when I am on holiday to see what is happening.

I think barjon should send me bottle of champagne for my birthday on 30th September. ha ha.

anyway I enjoy the site, I enjoy the feed back good or bad and I enjoy the banter.

Thanks for your postings and looking forward to the next 1000 postings.

Peter Cruddas
Executive Chairman and Founder
CMC Markets

Yes, you are now officially LEGENDARY :clap:

 

[tar]

Great post Peto - you have confirmed all the good and bad points of CMC, all of which are consistent with previous live feedback from myself and others. We know ticket and chart improvements are on the way - and if stops could be hit (most times) on the price, CMC would be trader's heaven - I don't know what more one could ask for.

1- faster execution .
2- faster and better platform .
3- additional markets .
4- extra order types .
5-
6-

 

[PC at CMC Markets]

Thanks 4x4.
Lets get next phase out of the way and see where we are and comments and feed back from you guys. will be easy to have summit before Christmas to plan the next phase and I would like to get clients more involved. Will definitely put you on the list.

tks pc

Hi PC,

It's great that you are really taking the bull by the horns and I for one will be happy to contribute in any way I can.

Cheers.

 

[peto]

Dear Peto,

Many many thanks for an excellent posting. It is honest and balanced and very constructive from my point of view. I got a real boost and you made my day when reading your comments. Not because they said good things about CMC, but also because we can learn from your comments and implement change. This is the biggest benefit of this forum. I listen to your comments and I pass them onto the team.

I accept that there are things we could have done better on next gen. Certainly the ticket is not conducive to one tick trading. It was really built as a investment tool so you could set all the features you wanted. However, we are changing that and change will be with you in weeks not months. By 30th September.

We have two solutions. 1. to let you open buy and sell tickets at the same time (with default functionality)
2. Create a window in the watch list with default amount so you can click buy or sell from your watch list.This will not allow you to set stops and limits but you will be able to do that from your positions report.

By the way the U.k tax man is now called HMRC. I know him well, he sends me a Christmas card saying ''looking forward to another good year'' ha ha.

Regarding slowness at times, this will improve shortly and get quicker.

We are looking at stop execution. The way we work stops is that once the level is reached, the stop becomes a market order and is executed at our prevailing price. There is no intention to execute at a worse price than the stop, nothing is set up to do this, we are not skimming the stop on purpose. It is just that if markets are say dropping and you have a stop sell the price will tend to trend lower when the level is reached. but looking at that. the endeavour is to execute all stops at the entry level, when possible.

charting improvements coming. The in house team love their charts and we want the best charts on the market fully integrated into the platform. we can do this and first tranche of chart improvements on their way. we develop all of our own charts as we want them fully integrated to the platform. it is a challenge but it is achievable.

System time outs are a browser issue which we are fixing. That should be done in next two weeks. Chrome seems to be the worst.

Many thanks for your comments. They have been passed onto the team and we will continue to listen to our customers and try to keep improving. I will continue with this forum to get the feed back and to be honest I enjoy it. I think it is right that I should engage with our clients or potential clients and stick my neck out there.


Please remember that spread betting is a leveraged product and you should understand the risk before trading.

best regards Peter

Hi PC
Thank you for your comments and congratulations on reaching legendary status, I fear you are becoming addicted though

I understand the platform is a work in progress, and that the next upgrade will be followed by further improvements. I'm pleased to hear I will soon be able to open Buy and Sell tickets together (big improvement), but I confess to being disappointed that your proposal to have a customisable default quantity will only be available from the 'watch list'.

I've been generating my tickets from the chart because I get to see exactly where my stop will be graphically, and monitor it as the trade progresses. This is one of the best features of your charts, and it seems from your description that I'll have to choose to lose that, or to keep it but not benefit from the new 'reduced clicks' changes. One for the future then?

cheers, P

 

[gle101]

Hi PC
Thank you for your comments and congratulations on reaching legendary status, I fear you are becoming addicted though

I understand the platform is a work in progress, and that the next upgrade will be followed by further improvements. I'm pleased to hear I will soon be able to open Buy and Sell tickets together (big improvement), but I confess to being disappointed that your proposal to have a customisable default quantity will only be available from the 'watch list'.

I've been generating my tickets from the chart because I get to see exactly where my stop will be graphically, and monitor it as the trade progresses. This is one of the best features of your charts, and it seems from your description that I'll have to choose to lose that, or to keep it but not benefit from the new 'reduced clicks' changes. One for the future then?

cheers, P

I have to ask you Peto, you trade a lot of round trips as do I, my question is, do you always get your market orders executed or do you get trade rejections at times, in case how many per 100 trades? I take it for granted in order to get into the market fast you trade with market orders. In reference to your early post, I fully agree, it would be better for CMC to skip the 0.9 offer and have 1 point spread on the Dow. The uncertainty about the slippage is not good. Also I can confirm, City's stops are always on the point and I don't see why CMC can't deliver the same service. It is not as Peter earlier wrote, "first in first served" that applies only to DMA, not a market maker.

 

[gle101]

Dear Peto,

Many many thanks for an excellent posting. It is honest and balanced and very constructive from my point of view. I got a real boost and you made my day when reading your comments. Not because they said good things about CMC, but also because we can learn from your comments and implement change. This is the biggest benefit of this forum. I listen to your comments and I pass them onto the team.

I accept that there are things we could have done better on next gen. Certainly the ticket is not conducive to one tick trading. It was really built as a investment tool so you could set all the features you wanted. However, we are changing that and change will be with you in weeks not months. By 30th September.

We have two solutions. 1. to let you open buy and sell tickets at the same time (with default functionality)
2. Create a window in the watch list with default amount so you can click buy or sell from your watch list.This will not allow you to set stops and limits but you will be able to do that from your positions report.

By the way the U.k tax man is now called HMRC. I know him well, he sends me a Christmas card saying ''looking forward to another good year'' ha ha.

Regarding slowness at times, this will improve shortly and get quicker.

We are looking at stop execution. The way we work stops is that once the level is reached, the stop becomes a market order and is executed at our prevailing price. There is no intention to execute at a worse price than the stop, nothing is set up to do this, we are not skimming the stop on purpose. It is just that if markets are say dropping and you have a stop sell the price will tend to trend lower when the level is reached. but looking at that. the endeavour is to execute all stops at the entry level, when possible.

charting improvements coming. The in house team love their charts and we want the best charts on the market fully integrated into the platform. we can do this and first tranche of chart improvements on their way. we develop all of our own charts as we want them fully integrated to the platform. it is a challenge but it is achievable.

System time outs are a browser issue which we are fixing. That should be done in next two weeks. Chrome seems to be the worst.

Many thanks for your comments. They have been passed onto the team and we will continue to listen to our customers and try to keep improving. I will continue with this forum to get the feed back and to be honest I enjoy it. I think it is right that I should engage with our clients or potential clients and stick my neck out there.


Please remember that spread betting is a leveraged product and you should understand the risk before trading.

best regards Peter

I must admit, very healthy and creative discussion from your side Peter. If you also can deliver, you are in a very good position to gain market share in this highly competitive industry. On the other hand, it will certainly strike back if you can't deliver the excellent service you are preaching about. Although, I would like to suggest, you start with getting rid of that foolish slippage, it is must as I see it.

What am I doing, writing this post, there must must be healthier things to do a Saturday evening.

 

[PC at CMC Markets]

hi peto

Think I gave the wrong impression here.
You will have default settings from tickets and watch lists and charts will stay the same. sorry for confusion. we are adding stuff not taking it away.

Probably a bit addictive but great source of ideas and what we should be doing.

many thanks Peter

Hi PC
Thank you for your comments and congratulations on reaching legendary status, I fear you are becoming addicted though

I understand the platform is a work in progress, and that the next upgrade will be followed by further improvements. I'm pleased to hear I will soon be able to open Buy and Sell tickets together (big improvement), but I confess to being disappointed that your proposal to have a customisable default quantity will only be available from the 'watch list'.

I've been generating my tickets from the chart because I get to see exactly where my stop will be graphically, and monitor it as the trade progresses. This is one of the best features of your charts, and it seems from your description that I'll have to choose to lose that, or to keep it but not benefit from the new 'reduced clicks' changes. One for the future then?

cheers, P

 

[PC at CMC Markets]

hi gle101,

the stop slippage is not intentional and not always against the client. The system is configured to execute at the prevailing price every time good or bad. With stops they become market orders once the level is reached and so the system quotes the next price and executes the trade. The system does not know it is executing a stop.
We are looking at this and I am sure we can improve. will let you know.

You seem to have an opinion on our stops policy. Can I assume you have active live trading account and you have experienced this for yourself or are you just feeding off peto's posting?

tks pc

I must admit, very healthy and creative discussion from your side Peter. If you also can deliver, you are in a very good position to gain market share in this highly competitive industry. On the other hand, it will certainly strike back if you can't deliver the excellent service you are preaching about. Although, I would like to suggest, you start with getting rid of that foolish slippage, it is must as I see it.

What am I doing, writing this post, there must must be healthier things to do a Saturday evening.

 

[PC at CMC Markets]

hi gle101,
sorry I know you do not have live account. You are living in Sweden, ignore previous comment.
tkspc

 

[PC at CMC Markets]

hi gle101,

You make a good point and that is the point that I have been trying to make. I believe this industry needs to improve all round especially on pricing, execution and silly head line spreads that try to draw clients in when in fact typical spreads give a clearer picture of the pricing policy of the spread bet company.

I think with next gen we are well on our way to getting it right.
tks pc

I must admit, very healthy and creative discussion from your side Peter. If you also can deliver, you are in a very good position to gain market share in this highly competitive industry. On the other hand, it will certainly strike back if you can't deliver the excellent service you are preaching about. Although, I would like to suggest, you start with getting rid of that foolish slippage, it is must as I see it.

What am I doing, writing this post, there must must be healthier things to do a Saturday evening.

 

[gle101]

hi gle101,

You make a good point and that is the point that I have been trying to make. I believe this industry needs to improve all round especially on pricing, execution and silly head line spreads that try to draw clients in when in fact typical spreads give a clearer picture of the pricing policy of the spread bet company.

I think with next gen we are well on our way to getting it right.
tks pc

I think you are definitely on the the right track, and I do appreciate the two way communication with traders on this thread. This will strengthen the Goodwill of the company. It will be very interesting to follow CMC next-gen in the month to come (and also trading with you live). Live traders reports is starting to come in, love it, and so far it is doing you a lot of good.

 

[gle101]

hi gle101,

the stop slippage is not intentional and not always against the client. The system is configured to execute at the prevailing price every time good or bad. With stops they become market orders once the level is reached and so the system quotes the next price and executes the trade. The system does not know it is executing a stop.
We are looking at this and I am sure we can improve. will let you know.

You seem to have an opinion on our stops policy. Can I assume you have active live trading account and you have experienced this for yourself or are you just feeding off peto's posting?

tks pc

I understand the technical aspects of the stop and have an idea how your system execute them. No intentional slippage, I understand, but still, the uncertainty about the stop is not good. Yes orders are the same, you probably have the same slippage with limit orders? I know we are not talking about slippage as such. Still, as I said at earlier, I want to get executed at the exact price of the stop order, nothing more nothing less.

 

[peto]

I have to ask you Peto, you trade a lot of round trips as do I, my question is, do you always get your market orders executed or do you get trade rejections at times, in case how many per 100 trades? .

Zero. It is exactly as PC has said, they don't reject any trades. And no orders are 'lost', nor markets closed or 'telephone only'. PC seems to me to be an honest and open character, why don't you accept his repeated assurances on this?

Just watch the last minute of a session, they seem to close markets between 20 and 60 seconds before 9pm, (or 9.15pm, as applicable). Although it is not apparent until one opens a fresh deal ticket or attempts to close a trade.

As for slippage/price improvement, I would expect it on market orders where the market moves in the fraction of a second between my press of the button and cmc receiving my order. It seems to work in my favour as often as against me. I would very rarely expect it on stops. As you say, if the stop is held with the market maker on their system, then it's rarely that slippage is justifiable, other than around major news event type spikes.

You seem to have a City account, are there regulatory issues regarding trading from Sweden, that City have overcome and cmc have yet to?

 

[PC at CMC Markets]

hi gle. thanks, good to get feed back good or bad then we can work on things this end.
tks pc

I think you are definitely on the the right track, and I do appreciate the two way communication with traders on this thread. This will strengthen the Goodwill of the company. It will be very interesting to follow CMC next-gen in the month to come (and also trading with you live). Live traders reports is starting to come in, love it, and so far it is doing you a lot of good.

 

[PC at CMC Markets]

hi peto

This is what I call fill or fill as opposed to fill or kill.
With fill or kill tickets normally get timed out when the market moves against you. you miss the price. you can argue that is good thing because you do not get executed at price away from your entry level. However, time outs normally happen during fast markets when there is high volatility, that is precisely the time you do not want to get timed out of your ticket. with us if you want a certain level place limit order. if you want to enter the market then place market order especially during volatile times.
you will get executed and not timed out of your order.
In my opinion, being an ex-trader (havent traded my personal account or company's account since 1989 when I started the company) market orders are market orders and I would not want to get timed out during volatile periods.
that is the service we offer. if you want fill or kill then you have to seek out a different provider.
good luck with your trading.
tks pc

Zero. It is exactly as PC has said, they don't reject any trades. And no orders are 'lost', nor markets closed or 'telephone only'. PC seems to me to be an honest and open character, why don't you accept his repeated assurances on this?

Just watch the last minute of a session, they seem to close markets between 20 and 60 seconds before 9pm, (or 9.15pm, as applicable). Although it is not apparent until one opens a fresh deal ticket or attempts to close a trade.

As for slippage/price improvement, I would expect it on market orders where the market moves in the fraction of a second between my press of the button and cmc receiving my order. It seems to work in my favour as often as against me. I would very rarely expect it on stops. As you say, if the stop is held with the market maker on their system, then it's rarely that slippage is justifiable, other than around major news event type spikes.

You seem to have a City account, are there regulatory issues regarding trading from Sweden, that City have overcome and cmc have yet to?

 

[gle101]

Zero. It is exactly as PC has said, they don't reject any trades. And no orders are 'lost', nor markets closed or 'telephone only'. PC seems to me to be an honest and open character, why don't you accept his repeated assurances on this?

Just watch the last minute of a session, they seem to close markets between 20 and 60 seconds before 9pm, (or 9.15pm, as applicable). Although it is not apparent until one opens a fresh deal ticket or attempts to close a trade.

As for slippage/price improvement, I would expect it on market orders where the market moves in the fraction of a second between my press of the button and cmc receiving my order. It seems to work in my favour as often as against me. I would very rarely expect it on stops. As you say, if the stop is held with the market maker on their system, then it's rarely that slippage is justifiable, other than around major news event type spikes.

You seem to have a City account, are there regulatory issues regarding trading from Sweden, that City have overcome and cmc have yet to?

First of all I accept what I see when I trade live myself, if I don't have that opportunity I have to ask live traders. I have no reason to doubt Peter, but it is the nature of things that I ask live traders for their experiences. No trade rejections, that is very good indeed. I take your note on the closing time, thanks.
No, there are there regulatory issues regarding trading from Sweden. I guess CMC in its initially stage like roll out the service slowly, this is probably a wise decision.