Best Thread CMC Markets owner answers your questions

[PC at CMC Markets]

Hi pman

Yes can type at 80 words per minute all fingers and not looking at key board. my first job at 15 was telex operator so I had to learn to type and have used it practically every day since (except for holidays before computers)
Yes I think I covered your points. One thing do not close out chart windows and then log out. leave them within your quote panel and they will be back then when you log on a again.

definitely you will have tabs. you will be able to keep as many charts open as you want and you can skip between the tabs when you want them. it is coming i promise.

had a seminar here last night and everybody seemed to be raving about the speed of execution. one bloke complained it was too fast I think it might have been Ross or gle101 in disguise but they would never admit to it. I think they are closet next gen fans but it is against their dna to like CMC Markets but once I get them plied with that dodgy Scandinavian lager they will be putty in my hands. ha ha

pc

Hi PC,

Your answer sounds like it also answers my second query. That was, to bring back one functionality that you had on MarketMaker. I can't remeber what you called it (Themes I think?), but it was esentially saved layouts accessible from a drop down menu.

For example, I have say 5 stocks in the "bitek" sector opened and then this theme/layout was saved. I could then access from the drop down menu, a previouslay saved theme "consumer discretionary" and the charts and tickets for all monitored stocks in this industry group opened, and the bitek windows all closed.

Right now, it is a big pain to open and close charts/tickets for stocks in each of the industry groups I monitor.

Sounds like you have it covered with the tabs to monitor multiple watch lists? Is that correct?

Appreciate you taking the time to answer the questions!

<Edited to add: I see you answered before I finished typing my followup reply. Damn it is useful being able to type at 80 words a minute wasn't it you said PC? I wish I could do that! Too lazy to practice and learn how! >

 

[PC at CMC Markets]

hi gle101

told you no need for live clients to come here. they are happy. they just love the speed of execution and fast accurate precision pricing.
I totally agree that this forum is excellent. the moderators are doing excellent job.

tks pc

Great thread I must say, and Peter is keeping us all entertained. Now we are only waiting for the live account traders to find the forum. I cannot understand why, this thread must have a high ranking on the Google search engine, when typing in CMC. Very important for the SB companies to have a representative giving support and answering questions on this excellent forum. Simon have understood this for years, while others only have had short visit. It is a two edge sword though, if you deliver it will create a lot of good will, otherwise the company will be burned by live traders having their say on this forum.

 

[gle101]

hi gle101

told you no need for live clients to come here. they are happy. they just love the speed of execution and fast accurate precision pricing.
I totally agree that this forum is excellent. the moderators are doing excellent job.

tks pc

They will find you Peter, don't worry, and give their judgment on your service and new next-gen platform. "precision pricing", these fractions are driving me crazy, I don't even have to buy the booze.

 

[gle101]

Been having a fun time at a funeral, actually, so no time to open account yet. Anyway, I hear beer's expensive down south. A pint probably costs more that a 5-bedroom semi up here in whippet and ferret land.

PS. Am I the only one who hates next gen windows with rounded corners, and can it be changed?

Don't worry Ross, Peter will have to pay up for our service. An expensive beer will be fine. No really, I don't care much for looks, the platform have to be functional and offers great execution (not to forget the spread). Otherwise I can live with almost anything (like rounded corners), but if I had a choice I like it to be streamlined, no flashing lights, fades and such effects.

 

[Ross Spur]

Don't worry Ross, Peter will have to pay up for our service. An expensive beer will be fine. No really, I don't care much for looks, the platform have to be functional and offers great execution (not to forget the spread). Otherwise I can live with almost anything (like rounded corners), but if I had a choice I like it to be streamlined, no flashing lights, fades and such effects.

I think he should award a prize to the first person who comes on here who's using next gen live. A can of Tesco lager might just swing it.

To get back to the complaints again, I definitely find that next gen slows right down on Firefox, although the order dragging function did work this time.

 

[gle101]

I think he should award a prize to the first person who comes on here who's using next gen live. A can of Tesco lager might just swing it.

To get back to the complaints again, I definitely find that next gen slows right down on Firefox, although the order dragging function did work this time.

One have to give it to Peter, it would be easy for him to fake reports, but apparently he is also waiting patiently and eagerly for his clients to come on board. I have only been testing the platform with Chrome, works fine with that browser.

 

[PC at CMC Markets]

Hi gle101

You and Ross are a good double act and write some good scripts. I guess you compare notes. ha ha

no need for me to wait patiently as the numbers are stacking up and really good business coming on next gen. You will see the success as the next year unfolds, especially when we launch next gen cfds and upgrade of next gen spread bet.

I guess you just cannot accept that there are people out there that love what we are doing. Never mind I go on numbers and the numbers are stacking up favourably. Honestly guys I wish I could quote you numbers but I think you both know how well CMC is doing otherwise you wouldnt spend so much time in having a go at next gen. Could it be that you have vested interests in not seeing next gen work. I dont know just do not know why you have so much to say and yet you do not have live accounts (i presume)

When it comes to next gen you are definitely in the minority.
cheers pc



QUOTE=gle101;1393334]One have to give it to Peter, it would be easy for him to fake reports, but apparently he is also waiting patiently and eagerly for his clients to come on board. I have only been testing the platform with Chrome, works fine with that browser.[/QUOTE]

 

[uchiki]

Having tested overnight charges using demos, here's what I found.
(demo) indicates I have used the demo a/c and the financing info came from there. Other info came from the company or it's website.
RefRate is approximately same as LIBOR

prospreads has NO overnight charges for futures based products (commodities, indices, currency futures etc), but a 2% loading for spot currencies. Doesn't offer stocks.

(demo) CMC has the best overnight charging costs for FX (no loading - tied with GFT), and very low charges for gold/silver (based on USD LIBOR), and the best overnight rates I've found for long stocks (RefRate+2%, tied with capitalspreads and spreadco). Capitalspreads is cheaper for short stocks, and spreadco say they have no overnight charges for short positions.
CMC charge on the non-margin amount per position (eg 90% of full position cost if margin is 10%). This seems to be unique as others charge on the full position amount. Also that amount is the original position amount. Others charge based on the reset amount after rollover.

(demo) capitalspreads - same as CMC for long stock/index positions (RefRate+2%), cheaper for short stock/index positions (RefRate-2%), more expensive for commodities and currencies.

cityindex and igindex seem to have higher overnight charges (LIBOR+2.5%) for stocks based on their website info.

(demo) GFT has no loading for currencies, but have high overnight charges (LIBOR+3%) for stocks (gold/silver charged at the same rate)

So, CMC stacks up quite well in this area.
I'd like to see no overnight charges for short stock/index positions. Netting off cash balances against open positions would be a nice to have.

You're on the ball Peter...
OK, I was waiting for an email before I blogged a reply.

The basics are that you can check what rate you're being charged on the demo platform.
Enter a position, hold it overnight, then click on Bet Financing Cost for the overnight period in question. You will then see a list of the overnight positions with an interest rate and cost value against each.
As an example, holding a UK stock had an interest rate of 2.55% last night.
From talking to Michelle, this is derived from a reference rate which approximates to overnight LIBOR (it's an average of overnight rates and other rates polled during the day) PLUS 2%.

In your previous blog to kalott, "Nice thing also is that all balances are netted off so you only pay finance on net borrowings. I believe we are only spread company that does this." As someone who has not been familiar with sb practices, this suggests a single notional 10k position with a 10k cash balance = no net borrowings (regardless of margin %). Seems like that would be market leading, but is not what CMC does.
The actual position is that finance charges are only levied on the notional minus margin. ie 10k position, 1k margin, finance charged on 9k.
If there is any distinction between yourselves and competitors on this, it could be that a competitor is charging finance on the whole 10k, which to me sounds fraudulent.

I will open demo positions for other products - a commodity, a US stock, plus shorts of these and a couple of FX pairs today and check the rates that they attract overnight.

There is an explanation of the principles of how the Bet Borrowing Cost is constructed on your website (http://www.cmcmarkets.co.uk/spread-betting/information), but I could find no indication of the haircut/loading rates, except on external websites which suggest that the rate is LIBOR + 3%. Would make sense to put this on your website rather than be pictured as charging higher rates by eg comparison sites.

So, in summary, the amount on which you charge financing is higher than I was hoping for, but probably in line with competitors (even if some charge on the full notional position, your 90-95% of notional net of margin won't make that much difference).
The loading rate at 2% for stocks is tied lowest with 2 other providers of the ones I've reviewed.
The fact that the finance charge is separately itemised for each position is a plus, as is the fact that you don't adjust entry prices (except for dividends/corporate actions).

 

[gle101]

Hi gle101

You and Ross are a good double act and write some good scripts. I guess you compare notes. ha ha

no need for me to wait patiently as the numbers are stacking up and really good business coming on next gen. You will see the success as the next year unfolds, especially when we launch next gen cfds and upgrade of next gen spread bet.

I guess you just cannot accept that there are people out there that love what we are doing. Never mind I go on numbers and the numbers are stacking up favourably. Honestly guys I wish I could quote you numbers but I think you both know how well CMC is doing otherwise you wouldnt spend so much time in having a go at next gen. Could it be that you have vested interests in not seeing next gen work. I dont know just do not know why you have so much to say and yet you do not have live accounts (i presume)

When it comes to next gen you are definitely in the minority.
cheers pc



QUOTE=gle101;1393334]One have to give it to Peter, it would be easy for him to fake reports, but apparently he is also waiting patiently and eagerly for his clients to come on board. I have only been testing the platform with Chrome, works fine with that browser.

We have both been in the game for quite a while. We know that demo trading is useless (other than for to get to know the platform). Real live trading is what counts, nothing else, up to prof, that is what we are waiting for. So far we have only heard your "sweet" voice, ha ha. I already feel kind of discriminated by CMC, a EU citizen and can't open a simple standard SB account, shape up CMC and join the European community, the CMC next-gen SB revolution it is not only about the UK.

 

[PC at CMC Markets]

hi gle101
you are going have to think of new ways to try and wind me up because I am getting used to your techniques. I am sure you are resourceful enough to think of something new. Look forward to see what you come up with next.

I have to admit you are good. You are definitely ahead of Ross in your techniques. Ross is more meat and two veg man, bit like myself but you are definitely a smoked salmon man or is it smoked herring up there in hurdy gurdy land.

well done and keep up the good work

pc

We have both been in the game for quite a while. We know that demo trading is useless (other than for to get to know the platform). Real live trading is what counts, nothing else, up to prof, that is what we are waiting for. So far we have only heard your "sweet" voice, ha ha. I already feel kind of discriminated by CMC, a EU citizen and can't open a simple standard SB account, shape up CMC and join the European community, the CMC next-gen SB revolution it is not only about the UK.

 

[Ross Spur]

hi gle101
you are going have to think of new ways to try and wind me up because I am getting used to your techniques. I am sure you are resourceful enough to think of something new. Look forward to see what you come up with next.

I have to admit you are good. You are definitely ahead of Ross in your techniques. Ross is more meat and two veg man, bit like myself but you are definitely a smoked salmon man or is it smoked herring up there in hurdy gurdy land.

well done and keep up the good work

pc

Apart from being someone who spreadbets, I certainly don't have a vested interest in anything, and I'm really not trying to wind you up, Peter (gle already does a good job at that). Just trying to put across a view from the punter side of the fence. I don't doubt for a second that you believe in next gen and have put a lot of hard work (and money) into getting it right.

There are things I like about next gen, but also plenty I dislike. It may seem odd, but now you're reduced the spread on US30 (why 2.1pt, though?) probably the main reason I haven't tried it live is the dark background charts, which are enough to give anyone a case of SAD. I know some people like black charts, but I bet there are more who prefer a less gloomy outlook.

 

[gle101]

hi gle101
you are going have to think of new ways to try and wind me up because I am getting used to your techniques. I am sure you are resourceful enough to think of something new. Look forward to see what you come up with next.

I have to admit you are good. You are definitely ahead of Ross in your techniques. Ross is more meat and two veg man, bit like myself but you are definitely a smoked salmon man or is it smoked herring up there in hurdy gurdy land.

well done and keep up the good work

pc

I have a little bit more experience on this forum than you. I have come across some nice people with good writing skills, and you seem to be such a person. One cannot make any mistake about your honest commitment to your company. The way you display the merits and distinguished features of the new next-gen platform, promises something really good to come in the near future, that will have a lasting positive affect for the industry.

Keep up the good work and have a nice weekend.

 

[x4x]

Anyone using SB (any firm) to trade off small TFs is either very inexperienced or delusional.

You mean because you can't do it, nobody else can...!

 

[.:twonk:.]

Hi PC

Good to see a man of your position on the front line taking the questions. That says a lot about you and your business in my book. It seems there are a few idiots around with the sole aim of winding you up unfortunately

People may moan to you in this blog but that has to be expected when money is lost, as i am sure you have figured out. People come online to moan instead of praise generally these days

Interested to hear your thoughts on how important social and trade following features will be in CFD platforms of the future. Do you have any plans to make CMC the facebook of online trading?

I recon facebook may have over 40% of a lot of peoples internet time as it is and that kind of user activity has to be good for an online trading business

 

[Ross Spur]

Hi PC

Good to see a man of your position on the front line taking the questions. That says a lot about you and your business in my book. Would not blame you for packing it in as it seems there are a few idiots around with the sole aim of winding you up

People may moan to you in this blog but that has to be expected when money is lost, as i am sure you have figured out. People come online to moan instead of praise generally these days

Interested to hear your thoughts on how important social and trade following features will be in CFD platforms of the future. Do you have any plans to make CMC the facebook of online trading?

I recon facebook may have over 40% of a lot of peoples internet time as it is and that kind of user activity has to be good for an online trading business

What are Facebook's spreads like these days?

















PS. Sorry if that was an idiotic remark.

 

[montmorencyt2w]

Hi Ross,

Thanks for the advice - that is what I am doing at the moment. It's just that I find it non-ideal, to have my browser start from the left and then stretch across the middle and the right ones.

Much more preferable would be to keep the browser window maximised in the middle and have, for example charts open as maybe separate windows. Than I can chuck them to the left/right screens or the row of screens above.

Charts definitely in separate windows (at least as an option), not just in tabs (if we are talking about browser tabs, like in Firefox). On the likes of Tradefair, CS, etc, you can open a chart or charts in a separate window and even keep them going (if you want), after logging out of the SB sessions. The main thing though is to be able to use as much physical screen for the chart as you want or need (maybe not all the time, but there are times when you need it.

And I'm afraid I really don't think I'm ever going to learn to love charts with dark backgrounds.

 

[montmorencyt2w]

OMG "Technical Boffins"!? Good to see you back buddy. You still SB -ing FX?

Thanks.
Yes, SB, FX (mainly EUR/USD and cable), but always (usually) with an eye on Gold, Oil, and the stock market indices. More looking than trading for the moment, as I was a long time out of it.

 

[montmorencyt2w]

Hi Montmorency

thanks for the blog and very good info here. I have passed it all onto the boffins in i.t. Most of the issues will be sorted once the new chart upgrade comes out in next month or so. but in future once we launch new stuff we will definitely be getting client feed back like yours.

Belated thanks for this post, Peter. I will look forward to the upgrade.

when it comes to stops, when you enter a stop you get the money value and the pips come up. so you have the pip value you just have to click on the pip window and you can adjust your stop by pips. this will change the money value next to it.

I tried fiddling with the target price and the money amount, but it didn't make the pip size appear. Hope it's clear what I'm on about.

in back office positions, you have the stop price and the money value. you can adjust either the same way as above.

I probably didn't quite get my point across properly. I will (try to) load a screen shot to illustrate what I was on about. Below the stop-loss on the order ticket, there is a pip size, 135 pips shown. However, below the Take Profit, there isn't. I'd like the order ticket to calculate for me and show me the default pip size that it's given me (as well as showing me the price and the money value). Consistency as much as anything.

Cheers,

 

[montmorencyt2w]

Peter,

While I have the demo platform up, I will try to show what I mean about bits of the chart disappearing behind bits of the trading platform.

I've pulled the top of the chart to the top of the screen and you can see the top left gets lost begind the "CMC", and the top right gets lost behind the "logoff" etc buttons.

At the bottom, I have dragged the right-hand corner down as far as it will go, and it's gone behind my account value. At first I thought I wouldn't be able to drag it again, but if you fiddle around, you can get it back. Well, usually.

In fact, despite appearances, I can still access the "BUY" button in that position, but it's obviously not quite ideal.

Cheers,

 

[PC at CMC Markets]

Hi Mike
This is a good request as something we will consider. I just put up my demo platform and obviously you can place stops and limits based on target price and the cash profit/loss for the limit and stop but not in pip value. It is good requests. I already told the team as they sit near by and they have made a note and it will get put in. To be honest it probably will not be a quick release because they are up to their eyes in next gen cfd launch and charting up grades but it will get done. it is not a big job. lets see what we can do.

thanks for screen shot. I think software looks amazing love it so much and it appears by the take up so do clients, which is the important thing.

have a good day and thanks for constructive post.

regards peter

Belated thanks for this post, Peter. I will look forward to the upgrade.



I probably didn't quite get my point across properly. I will (try to) load a screen shot to illustrate what I was on about. Below the stop-loss on the order ticket, there is a pip size, 135 pips shown. However, below the Take Profit, there isn't. I'd like the order ticket to calculate for me and show me the default pip size that it's given me (as well as showing me the price and the money value). Consistency as much as anything.

Cheers,