This is my last reply to you:
"Real trading floor in the City of London with one of the Worlds top Forex Strategist Ashraf Laidi"
Don't misquote me please !
Ashraf Laidi is the Chief Forex Strategist for CMC.
Best Thread CMC Markets owner answers your questions
- Thread starter PC at CMC Markets
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This is my last reply to you:
"Real trading floor in the City of London with one of the Worlds top Forex Strategist Ashraf Laidi"
Don't misquote me please !
Ashraf Laidi is the Chief Forex Strategist for CMC.
B
Black Swan
There's one or two of you currently 'astroturfing' for smartlivemarkets and folk can make their own minds up as to how obvious it is. Personally I wouldn't do business with an organisation that is barely solvent/adequately capitalised in such a competitive market. I'm of the opinion that a new start Co in this market should have massive ring fenced reserves, but that's your look out, at the levels you're playing at it's hardly relevant.
However, for clarity and moving onto to the subject at hand you stated the following and there is no confusion in your implication;
JDTRADER:
"I believe in frank reviews
ITS A CRAP PLATFORM
All the traders on Market Maker Desktop will not trade on this Next Gen platform.
Next Gen ! your joking right
This is aimed at the novice retail trader who will blow up accounts, KERCHING TO CMC
Serious home retail traders will not touch it will a barge poll
Best thing about CMC Ashraf Laidi - FX GOD
Why not let the retail trader trade the system your Pro Traders use in London ? This is the system you should of developed and gave the retail client with STP/ECN access.
Your Pro in house traders are not using the Next Gen !
Real trading floor in the City of London with one of the Worlds top Forex Strategist Ashraf Laidi
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
But !
Could there be a Forex site with ECN/STP and No Commissions ?
http://www.trade2win.com/boards/brokerages/119668-hotforex-com.html#post1453382
Well could be to good to be true...........
B
Black Swan
CRYSTAL CLEAR
Moving aside your rant you actually need correcting on the more bizarre elements of your ill conceived and badly educated claims.
Ok fire away >>>>>>>>>>
B
Black Swan
I'm not going to enter into discussions re. your pre-conceptions and deep seated prejudices versus one or other SB firms. By far the vast majority of money lost in the spread betting market to the firms is always due to 'our' poor trading decisions.
As for the machinations of how the CMC business model 'works' and how employees of CMC operate, and more importantly what they're allowed to do in order to comply with certain directives, I think there's someone far better qualified than me on this thread to explain how their company is structured.
I do agree that Ashraf Laidi's musings and commentary are excellent, they form part of my daily/weekly intelligence gathering.
Behind you !
Why not let the retail trader trade the system your Pro Traders use in London ? This is the system you should of developed and gave the retail client with STP/ECN access.
Watch this: http://londonftp2.rtv.thomsonreuters.com/outputplayer/?filename=020311CMCLaidi&aspect=169
Is the traders behind using the Next Gen ? er no
They are still using the Market Maker Desktop which could still today be the best retail platform if it was updated.
Why not let the retail trader trade the system your Pro Traders use in London ? This is the system you should of developed and gave the retail client with STP/ECN access.
Watch this: http://londonftp2.rtv.thomsonreuters.com/outputplayer/?filename=020311CMCLaidi&aspect=169
Is the traders behind using the Next Gen ? er no
They are still using the Market Maker Desktop which could still today be the best retail platform if it was updated.
Hi Peter,
Have had an hour or so on your new platform and really don't like it, at all. Sorry buddy but it seems to me that it is all window dressing in its presentation but does has a really strange feel to it and dont like it, first platform I have used that I actually really really dont like, sorry? I used to have an account with CMC a few years ago, in fact I had 2 accounts(far too many requotes), and the best part of your platform was the market maker charting and pop out windows, for obvious reasons. You have now lost you pop out window facility which is a massive shame but your charting is shockingly bad now, sorry. For multiple instruments, times frames etc just dont like it at all.
Feel CMC have gone backwards, the platform is too fancy in its tabs etc, all that anyone wants from a spread betting company is a fully visible, spreadsheet type platform. You mentioned on an earlier post that traders with their spread betting accounts is similar to their bank accounts as dont change much, I hope you have taken that back now as that was an old post by you and for me is so wrong for these reasons.
I can change spread betting accounts at a drop of a hat for the best service in terms of spreads, prices, execution, speed, good platform etc and have done, when I used CMC so many requotes was a joke but understand you have that sorted now. So easy compared with my bank account, my bank gives me nothing in terms of banking and are all the same, spread betting companies are not the same.
That being said, and this I think is where spread betting companies are going, people want simple straight forward platforms like spread sheets, everything there for you and visible and concise. Any trader can open a demo account in any fx company to obtain whatever they want from the company in terms of their news, charting(yours is shocking, MT4 is the best and free to all??????), but they only put money in the companies where they get the best spreads, execution and service, and so good for the customer that the market is now so competitive.
What I am trying to say is this, there are companies out there that offer the best charting facilities(not yours by a long shot) and I have a demo account with them for their charting with MT4, there are companies out their that their news and audio news is awesome, have a demo with them, all good. I have 3 spread betting accounts solely for trading and nothing else, and also like the fact that my charting is not related to my account as see that as a huge conflict of interest.
Fancy charts and periferal items are irrelevant to most traders as that is all free through demo accounts with any company, only price, spread, execution etc where the money is concerned is where the seasoned trader will put his money? Sorry but no account with you guys and after seeing your platform do not intend to, convince me otherwise?
Kwickwool
Have had an hour or so on your new platform and really don't like it, at all. Sorry buddy but it seems to me that it is all window dressing in its presentation but does has a really strange feel to it and dont like it, first platform I have used that I actually really really dont like, sorry? I used to have an account with CMC a few years ago, in fact I had 2 accounts(far too many requotes), and the best part of your platform was the market maker charting and pop out windows, for obvious reasons. You have now lost you pop out window facility which is a massive shame but your charting is shockingly bad now, sorry. For multiple instruments, times frames etc just dont like it at all.
Feel CMC have gone backwards, the platform is too fancy in its tabs etc, all that anyone wants from a spread betting company is a fully visible, spreadsheet type platform. You mentioned on an earlier post that traders with their spread betting accounts is similar to their bank accounts as dont change much, I hope you have taken that back now as that was an old post by you and for me is so wrong for these reasons.
I can change spread betting accounts at a drop of a hat for the best service in terms of spreads, prices, execution, speed, good platform etc and have done, when I used CMC so many requotes was a joke but understand you have that sorted now. So easy compared with my bank account, my bank gives me nothing in terms of banking and are all the same, spread betting companies are not the same.
That being said, and this I think is where spread betting companies are going, people want simple straight forward platforms like spread sheets, everything there for you and visible and concise. Any trader can open a demo account in any fx company to obtain whatever they want from the company in terms of their news, charting(yours is shocking, MT4 is the best and free to all??????), but they only put money in the companies where they get the best spreads, execution and service, and so good for the customer that the market is now so competitive.
What I am trying to say is this, there are companies out there that offer the best charting facilities(not yours by a long shot) and I have a demo account with them for their charting with MT4, there are companies out their that their news and audio news is awesome, have a demo with them, all good. I have 3 spread betting accounts solely for trading and nothing else, and also like the fact that my charting is not related to my account as see that as a huge conflict of interest.
Fancy charts and periferal items are irrelevant to most traders as that is all free through demo accounts with any company, only price, spread, execution etc where the money is concerned is where the seasoned trader will put his money? Sorry but no account with you guys and after seeing your platform do not intend to, convince me otherwise?
Kwickwool
PC at CMC Markets
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Hi Kwickwool
Many thanks for your posting. It is fair enough. We cannot please every body all of the time. Based on stats we are opening three times more spread bet accounts on next gen than one year ago (old gen). The conversion rate from market maker spread bet is very high cannot give you the exact number as it is commercially sensitive but somewhere between 30 and 60 percent. it is strong.
I accept that there are some parts of our charts that need up grading and we need to add more products. That will be with you in days.
I can only ask you to monitor the situation with our next gen platform, commercially it is proving very successful and I hope you like the new up grades coming soon. Also ipad coming soon which I think looks fantastic.
stayed tuned.
best regards Peter.
Many thanks for your posting. It is fair enough. We cannot please every body all of the time. Based on stats we are opening three times more spread bet accounts on next gen than one year ago (old gen). The conversion rate from market maker spread bet is very high cannot give you the exact number as it is commercially sensitive but somewhere between 30 and 60 percent. it is strong.
I accept that there are some parts of our charts that need up grading and we need to add more products. That will be with you in days.
I can only ask you to monitor the situation with our next gen platform, commercially it is proving very successful and I hope you like the new up grades coming soon. Also ipad coming soon which I think looks fantastic.
stayed tuned.
best regards Peter.
PC at CMC Markets
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Hi Kwickwool
Many thanks that is all we can ask. But your constructive comments always welcome.
thanks Peter
Many thanks that is all we can ask. But your constructive comments always welcome.
thanks Peter
PC at CMC Markets
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Hi Guys.
This is my reply to thread posted on other site. you can see the link below.
So thanks to fxstorm we have established that CMC is not trying to make excessive profits from finance by introducing a cash commodities product. Thanks fxstorm it is good coming from independent source.
We have done this to bring commodities trading in line with the other rolling cash products on our next gen platform. Gold and silver are rolling cash, forex is rolling cash and when we launched spread betting on line in 2001 we introduced the rolling cash spread bet across multiple asset classes. This is a continuation of that process. Now over 90 percent of our bets and I think the industry's bets are rolling cash. I thought you would like to know that rolling cash commodities are the heaviest traded product on next gen platform. I know of at least one investment bank trying to launch rolling cash commodities. I see no reason why you cannot use the cash charts we provide to do your technical analysis. I know they are not perfect and not every body's cup of tea but in time they will improve starting in next couple of weeks with new releases. Still do not understand why it is important to trade commodities as quarterly bets when in effect quarterlys are cash products plus/minus the cost of carry. We have no plans to launch quarterly bets on commodities. Next gen cash commodities are doing very well and the bulk of our next gen spread bet clients are very happy to trade commodities as rolling cash. thanks Peter
http://www.trade2win.com/boards/spr...rm-bet-financing-cost-over-30-a-new-post.html
This is my reply to thread posted on other site. you can see the link below.
So thanks to fxstorm we have established that CMC is not trying to make excessive profits from finance by introducing a cash commodities product. Thanks fxstorm it is good coming from independent source.
We have done this to bring commodities trading in line with the other rolling cash products on our next gen platform. Gold and silver are rolling cash, forex is rolling cash and when we launched spread betting on line in 2001 we introduced the rolling cash spread bet across multiple asset classes. This is a continuation of that process. Now over 90 percent of our bets and I think the industry's bets are rolling cash. I thought you would like to know that rolling cash commodities are the heaviest traded product on next gen platform. I know of at least one investment bank trying to launch rolling cash commodities. I see no reason why you cannot use the cash charts we provide to do your technical analysis. I know they are not perfect and not every body's cup of tea but in time they will improve starting in next couple of weeks with new releases. Still do not understand why it is important to trade commodities as quarterly bets when in effect quarterlys are cash products plus/minus the cost of carry. We have no plans to launch quarterly bets on commodities. Next gen cash commodities are doing very well and the bulk of our next gen spread bet clients are very happy to trade commodities as rolling cash. thanks Peter
http://www.trade2win.com/boards/spr...rm-bet-financing-cost-over-30-a-new-post.html
PC at CMC Markets
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This was posted by fxstorm on link below.
Hi everyone,
This is a classic problem when you apply a cash product and calculate a PV based on an underlying, rolling future. It's (understandably) tough for someone to understand this when all they want to do is trade the spread on WTI vs. Brent, but unfortunately it really isn't as simple as taking your marked-to-market entry/exits and calculating a net P&L minus an overnight financing rate.
So what PC has said is correct (although it's a bit of a scary explanation for a retail client), and, in fact, what you're seeing is transparency that is unappealing to the retail eyeball.
If, for instance, you were rolling a futures (as opposed to cash) position from month to month, you would be paying the same annualised carry, but you would be conveniently blind to it. It might make you feel better and sleep better at night, but you would be effectively charged the same cost of carry, but nobody would spell it out for you.
All CFD providers should be showing the true annual carry cost of trade when creating a cash product over anything, but unfortunately it doesn't make for great marketing!
Sorry to be a stick in the mud, but CMC
This thread is located at:
http://www.trade2win.com/boards/spr...rm-bet-financing-cost-over-30-a-new-post.html
Hi everyone,
This is a classic problem when you apply a cash product and calculate a PV based on an underlying, rolling future. It's (understandably) tough for someone to understand this when all they want to do is trade the spread on WTI vs. Brent, but unfortunately it really isn't as simple as taking your marked-to-market entry/exits and calculating a net P&L minus an overnight financing rate.
So what PC has said is correct (although it's a bit of a scary explanation for a retail client), and, in fact, what you're seeing is transparency that is unappealing to the retail eyeball.
If, for instance, you were rolling a futures (as opposed to cash) position from month to month, you would be paying the same annualised carry, but you would be conveniently blind to it. It might make you feel better and sleep better at night, but you would be effectively charged the same cost of carry, but nobody would spell it out for you.
All CFD providers should be showing the true annual carry cost of trade when creating a cash product over anything, but unfortunately it doesn't make for great marketing!
Sorry to be a stick in the mud, but CMC
This thread is located at:
http://www.trade2win.com/boards/spr...rm-bet-financing-cost-over-30-a-new-post.html
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