Best Thread CMC Markets owner answers your questions

[tar]

game over tar you already conceded. lets move on. just waiting for Mr Truthseeker to comment...

pc

ditto

 

[Mrtan09]

Thanks again..

hi Mrtan,
I passed your private email onto the team. they came back to me and said looking into it. should have reply soon.
regards Peter

 

[hoodoo man]

as I have been accused of being evasive would be nice to hear response from Mr Truth seeker on posting 1924 or is Mr Truth seeker being evasive.

Peter, if you have time I'd appreciate your comments on my #1925, directly below the post you refer to.

 

[PC at CMC Markets]

Hi Hoodoo man
I am not sure really what you want me to say about one click.
I have already posted my views and that one click is only one click if you
can trade at market price on pre-set amount. Like I said in my previous post it should be titled.
one click trading providing you can preset amount and you deal at market. One click does not apply to stop losses, limits, ocos orders, stop entries and trailing stops because you have to set the price in the ticket before you trade. also trading from charts.

We explain very clearly through videos and demo account how you can trade with us the process is fully automated when you confirm the trade and you can play with demo platform to see this.

It is what it is. we explain very clearly how you execute with us. we are in line with most other platforms so you can practice before you trade which is not available from most of our competitors.

can we move on please now. If you do not like our platform then fair enough. WE are looking at maybe speeding up the process by being able to pre set amounts but there are other things ahead of this. we might be able to fast track it but the general response from our clients is they like the functionality of the ticket and placing orders.

thanks for your post.
regards Peter

I am disappointed with this response from you as when I asked you a similar question last week you promised to look into it with your team and get back to me.


I would suggest that it doesn't, it is a standard term in the industry with a specific meaning. Trying to "interpret" or "redefine" a term is more reminiscent of politics or marketing rather than straight talking.

CMC Markets already provides a definition: "One-Click dealing allows you to trade within a single click of seeing a price". This is taken directly from your One-Click Dealing Marketmaker ® User Guide at http://www2.cmcmarkets.co.uk/legal_...ts/spreadbet/CMCM_SB_One-Click_User_Guide.pdf



If we define one click to mean only the final mouse click action before a deal is done, then every platform is one click. If we define it to mean deals are done without asking for a confirmation, then every platform which can disable the "are you sure you want to trade" box becomes one click also.



In addition to my posting, two other members here have posted screenshots of other platforms which provide what we consider true one click trading. I can tell you that the following providers do one click trading:
- CMC Markets Market Maker spreadbet platform
- IG Index spreadbet platform
- Oanda FX platform
- FXCM FX platform
- FXCM spreadbet platform
- Interactive Brokers "FX Trader" platform
- CFH Markets Web Trader / Pro Trader
- Hotspot
- Currenex
- EBS
- Thomson Reuters
- Dukascopy
- London Capital Group


I find your position in misunderstanding what this feature is particularly difficult to understand given that your prior spreadbet platform included it. Of course it is your business and if for whatever reason you do not wish to provide one click dealing on your platform then that is your right. Traders who require one click dealing will simply go elsewhere. However I do not see the reason to confuse existing and potential clients by using a term which has an established meaning in a completely different way to suggest that your platform has an ability to deal within a single click of seeing a price, at the best bid or offer.

I now suspect that you have a business reason in not installing one click dealing, and for some reason you do not desire to tell us what this is. I can only speculate as to the reasons from choosing to remove a feature that was present in your prior offering. The possible reasons that come to mind are:
- reducing order entry errors by novice clients
- oversight in the software development process, and not financially viable to implement now
- discouraging very active trading / short term trading on your platform
- thwarting snipers / scalpers / toxic flow clients (as you now have no dealer referral)

 

[Truth Seeker]

Good morning Truth seeker,
How are you today.
can you do me a favour and answer post 1924
tks Peter

Peter
I did say I was bored, you wasn't answering my questions and was acting dumb, backed up by a couple of clingons. I have more important things on, like making money? Right, so you want me to answer a question raised by someone else and to me is unclear, when you haven't even had the decency to answer my question?

You point to post 1924, here it is:
PC at CMC Markets
Veteran Member




--------------------------------------------------------------------------------

Hi Tar,
thanks very much for the screens shots.
Just one question how can I change the amounts to buy/sell and how can I select limit order or market order.
pc


Quote:
Originally Posted by tar
Please check the screen shots , only one click to take a position , no need to open a ticket could open a position from the watchlist directly , just press on the price .

=====================================================

I don't even know what is being discussed here? What platform are you discussing with Tar?
I tell you what though. Answer my question first, not with your avoidance tactics, just answer it, straight up like a man, and I will do my best to answer your discussion with another member, but will need more information. Deal?

 

[PC at CMC Markets]

Hi Truth Seeker#

You are being very evasive with your answer. I answered all your questions how about you giving me an answer to my question, not too difficult to understand.

tks pc

Peter
I did say I was bored, you wasn't answering my questions and was acting dumb, backed up by a couple of clingons. I have more important things on, like making money? Right, so you want me to answer a question raised by someone else and to me is unclear, when you haven't even had the decency to answer my question?

You point to post 1924, here it is:
PC at CMC Markets
Veteran Member




--------------------------------------------------------------------------------

Hi Tar,
thanks very much for the screens shots.
Just one question how can I change the amounts to buy/sell and how can I select limit order or market order.
pc


Quote:
Originally Posted by tar
Please check the screen shots , only one click to take a position , no need to open a ticket could open a position from the watchlist directly , just press on the price .

=====================================================

I don't even know what is being discussed here? What platform are you discussing with Tar?
I tell you what though. Answer my question first, not with your avoidance tactics, just answer it, straight up like a man, and I will do my best to answer your discussion with another member, but will need more information. Deal?

 

[Truth Seeker]

Hi Truth Seeker#

You are being very evasive with your answer. I answered all your questions how about you giving me an answer to my question, not too difficult to understand.

tks pc

Remind me of your answer to my questions, it must have got lost in translation. Post it for me to see.
Then, lay out what you want me to answer in a decent format, and stop acting childish by using amateur reverse psychology, I see what you're trying to do here.

 

[Truth Seeker]

Dear Truth seeker,

Here is my last posting on our trading process. It is what it is take it or leave it. I have looked at a major competitor’s platform and it is the same process as ours.

One click trading needs interpretation.

One click in my books is the execution of a trade after you have set what you want to do. Yes you can select buy or sell but you have to select whether it is market order or limit or stop order. You cannot preset amounts with us. We will look at adding this feature in the future.

So let’s explain.

Click one with us and every other platforms I have tried is as follows. You have to click on price (or order ticket) to generate order ticket.
You select whether it is market order, stop loss, limit, amount you want to buy or sell.
You have to decide this before you do any trade. Once you have selected what you want to do then you can place trade. With us you can leave the order ticket open as long as you like with the market price updating in the price window of the ticket.

Click two. Once the ticket has been set to what you want to do, e.g. amount, limit or market order. You click confirm and the deal is executed in milliseconds. This is one click trading (reminder turned off on Next Gen through preferences)

Click three is you get a confirmation and to continue trading you need to click confirm you received the confirmation.

So all I am saying is that before you do your one click trading you have to set the ticket to what you want to do.

That is what we do. If you don’t like it then you don’t have to trade with us.
Once the ticket is populated you trade on one click. All this is explained and filmed in our videos on the web site. You can even open up a demo account to test the way we execute trades before you open a live account. Every other system I have seen makes you select the order type, e.g market or limit or stop, the stake and you have always had to click on our price to populate a ticket.

Maybe it is not for your type of trading and that is fair enough but I cannot add any more to the above other than to say that is how we operate and every other spread bet firm in this industry.

Can we move on now please.
thanks Peter

Was this your answer? You didn't answer my questions at all. You tried to explain once you have made a few clicks, the last click you make to place the trade is your version of a 1 click trade!

You couldn't make it up, I'm still looking for the Candid Cameras and a presenter to jump out and say "Fooled you!" because your replies are weak at best, and inaccurate, especially when you say your ticket layout is the same as your competitors..

Let me refresh your memory.
Why don't CMC offer 1 click trading on their new platform, is it to keep the experienced traders away?
AND
Are you going to put it into your new platform?
Afterall, you did have in your last Market Maker platform.

 

[hoodoo man]

Hi Hoodoo man
I am not sure really what you want me to say about one click.
I have already posted my views and that one click is only one click if you
can trade at market price on pre-set amount. Like I said in my previous post it should be titled.
one click trading providing you can preset amount and you deal at market. One click does not apply to stop losses, limits, ocos orders, stop entries and trailing stops because you have to set the price in the ticket before you trade. also trading from charts.

We explain very clearly through videos and demo account how you can trade with us the process is fully automated when you confirm the trade and you can play with demo platform to see this.

It is what it is. we explain very clearly how you execute with us. we are in line with most other platforms so you can practice before you trade which is not available from most of our competitors.

Hi Peter - thank you for your post. Yes, it is very true that you explain very clearly how execution is done on your platform, the videos are informative, and indeed there is a demo.

can we move on please now. If you do not like our platform then fair enough. WE are looking at maybe speeding up the process by being able to pre set amounts but there are other things ahead of this. we might be able to fast track it but the general response from our clients is they like the functionality of the ticket and placing orders.

thanks for your post.
regards Peter

I think pre-set amounts like you used to have on Market Maker and as other platforms have would be a good idea. I didn't say I didn't like the platform - it is actually quite good - just enquiring as to whether you could add a feature that was present in your old platform and elsewhere.

Kudos for wading through the invective here to answer questions. Your critics might say that you've dodged the "why" of not having one click dealing, but what really matters in trading is the "what" and the "how".

I'm happy to move on - I now understand that you don't have the feature, aren't adding it, and clients are doing fine without it. To be honest true one click would be useful for someone like me, but I would guess that 99% of spreadbetters wouldn't need it. As for your platform, instrument selection, cash commodities, funding changes, and other extras - for a long term position trading / investing account you would be an excellent choice.

Regards,

 

[Ross Spur]

Hi Peter - thank you for your post. Yes, it is very true that you explain very clearly how execution is done on your platform, the videos are informative, and indeed there is a demo.



I think pre-set amounts like you used to have on Market Maker and as other platforms have would be a good idea. I didn't say I didn't like the platform - it is actually quite good - just enquiring as to whether you could add a feature that was present in your old platform and elsewhere.

Kudos for wading through the invective here to answer questions. Your critics might say that you've dodged the "why" of not having one click dealing, but what really matters in trading is the "what" and the "how".

I'm happy to move on - I now understand that you don't have the feature, aren't adding it, and clients are doing fine without it. To be honest true one click would be useful for someone like me, but I would guess that 99% of spreadbetters wouldn't need it. As for your platform, instrument selection, cash commodities, funding changes, and other extras - for a long term position trading / investing account you would be an excellent choice.

Regards,

'Need' is a tricky one. Most spreadbetters probably don't need to spreadbet, but anything that helps make the process quicker/easier should be welcomed.

Reducing the number of clicks would therefore be a step in the right direction. So would making the windows pop up more quickly (I've tried Next Gen on various computers, and it's always slow in that respect, regardless of system and internet connection speed).

There would be a few accidental trades as a result of one-click, but anyone using the platform regularly would soon learn not to do that, and surely it could be disabled.

 

[Truth Seeker]

'Need' is a tricky one. Most spreadbetters probably don't need to spreadbet, but anything that helps make the process quicker/easier should be welcomed.

Reducing the number of clicks would therefore be a step in the right direction. So would making the windows pop up more quickly (I've tried Next Gen on various computers, and it's always slow in that respect, regardless of system and internet connection speed).

There would be a few accidental trades as a result of one-click, but anyone using the platform regularly would soon learn not to do that, and surely it could be disabled.

Next Generation is a total noob based platform. Built on a flash engine (that's the delay you're experiencing) lack of proper functions, terrible charts, cheap feel, the list goes on. All in all, a step backwards or a clever step away from a real trading platform and more towards a platform designed to entice noobs (no experience traders with all the flashing useless graphics like a Fruit Machine) because they are an easy steady flow of income based on the widely held opinion that 95% of traders lose, especially in their first year of trading. To introduce 1 click trading as we have explained in great detail would make the platform more bearable as it would be a step in the right direction, but for some reason (easy to work out) it looks as if this will never happen. Now, all those who are reading this should now be at the point of thinking 'trading is hard enough, why trade with a spreadbet bookie who is clearly making sure all the possible odds are on his side'?

 

[Ross Spur]

Next Generation is a total noob based platform. Built on a flash engine (that's the delay you're experiencing) lack of proper functions, terrible charts, cheap feel, the list goes on. All in all, a step backwards or a clever step away from a real trading platform and more towards a platform designed to entice noobs (no experience traders with all the flashing useless graphics like a Fruit Machine) because they are an easy steady flow of income based on the widely held opinion that 95% of traders lose, especially in their first year of trading. To introduce 1 click trading as we have explained in great detail would make the platform more bearable as it would be a step in the right direction, but for some reason (easy to work out) it looks as if this will never happen. Now, all those who are reading this should now be at the point of thinking 'trading is hard enough, why trade with a spreadbet bookie who is clearly making sure all the possible odds are on his side'?

Some Flash things work at a decent speed, so I don't think that's the problem. Java is more troublesome, in my experience.

 

[forker]

Can the mods please rename this thread to "repetitive naggers". Its like that movie "dude where my car" where they ask each other what their tattoos read only this is the extended version.

 

[Truth Seeker]

How about change it to 'CMC owner answers selected questions and plays dumb, as long as he gets free advertising and interest at Trade2Win'

 

[PC at CMC Markets]

Hi Hoodoo Man

I think we can add default amounts reasonably quickly and we want to add it. I have a session with the team next week and will see if there are any quick wins.
will let you know
tks pc

Hi Peter - thank you for your post. Yes, it is very true that you explain very clearly how execution is done on your platform, the videos are informative, and indeed there is a demo.



I think pre-set amounts like you used to have on Market Maker and as other platforms have would be a good idea. I didn't say I didn't like the platform - it is actually quite good - just enquiring as to whether you could add a feature that was present in your old platform and elsewhere.

Kudos for wading through the invective here to answer questions. Your critics might say that you've dodged the "why" of not having one click dealing, but what really matters in trading is the "what" and the "how".

I'm happy to move on - I now understand that you don't have the feature, aren't adding it, and clients are doing fine without it. To be honest true one click would be useful for someone like me, but I would guess that 99% of spreadbetters wouldn't need it. As for your platform, instrument selection, cash commodities, funding changes, and other extras - for a long term position trading / investing account you would be an excellent choice.

Regards,

 

[Mrtan09]

Hi PC, just a quick ask for the iPhone app... if you have multiple positions in one product can you get it to show the average execution price? The web version does...

Also, just wondering if theres a way of showing the margin required before you open a position, where it changes as you change the size of it.

BTW, talking purely about SB apps here.

Thanks again...

 

[PC at CMC Markets]

Hi mrtan

Yes you can close individual or multiple positions on i-phone. you can also see the average rate and amount of positions. close either position by individual trades one by one or the whole lot at once.
remember also that the original bet price is always maintained. there are no daily roll-overs but a bet accrual which is accounted for separately in back office. that way you can see individual pnl on each position.

if you open price window there is little chevron on top left hand corner. click on this and it will show you all product requirements including margin.

tks pc

Hi PC, just a quick ask for the iPhone app... if you have multiple positions in one product can you get it to show the average execution price? The web version does...

Also, just wondering if theres a way of showing the margin required before you open a position, where it changes as you change the size of it.

BTW, talking purely about SB apps here.

Thanks again...

 

[Mrtan09]

Thanks PC, but I think you mis understood me.

On the iPhone App, if you have multiple positions on one product, it shows a - sign under execution price, if you go into the open positions, it gives you a list with the break down of each execution price. What I was requesting is that it shows you an average price as it does on the web based interface.

I can post screenshots if needed.

Also, what I meant by the margin requirement is that lets say I open a bet on Gold, although I know its 1%, it should let me know that a £3pp bet is going to require £xxx of margin (or whatever). And change as I change the amount.

I'm only suggesting this as I've found it useful on other platforms.

I can mock something up in Photoshop if you want!

Thanks again.

Hi mrtan

Yes you can close individual or multiple positions on i-phone. you can also see the average rate and amount of positions. close either position by individual trades one by one or the whole lot at once.
remember also that the original bet price is always maintained. there are no daily roll-overs but a bet accrual which is accounted for separately in back office. that way you can see individual pnl on each position.

if you open price window there is little chevron on top left hand corner. click on this and it will show you all product requirements including margin.

tks pc

 

[PC at CMC Markets]

Hi Mrtan,

There is actually very simple way to know what amount of money you need to do per bet. If you type in £1 buy bet, click on the stop loss feature and this will generate an indicative stop loss which is the margin requirement. it shows it in amount and the stop loss price. have a play around with it. profit take is double the margin requirement.

I just got the iphone fired up and for some reason it is not calculating average position price. You can get individual break down positions. will get techies to look into this. it should have average price. will get back to you

tks pc

Thanks PC, but I think you mis understood me.

On the iPhone App, if you have multiple positions on one product, it shows a - sign under execution price, if you go into the open positions, it gives you a list with the break down of each execution price. What I was requesting is that it shows you an average price as it does on the web based interface.

I can post screenshots if needed.

Also, what I meant by the margin requirement is that lets say I open a bet on Gold, although I know its 1%, it should let me know that a £3pp bet is going to require £xxx of margin (or whatever). And change as I change the amount.

I'm only suggesting this as I've found it useful on other platforms.

I can mock something up in Photoshop if you want!

Thanks again.

 

[eastwood666]

Just thought I'd add a bit of extra content to this thread. Firstly, before anyone gets excited that this is my first post and suspects I am popping up as some troll or the like, yes it is my first post, yes I did just register as a user, but only because I have never had a need to write on forums before. I trade professionally and love what I do, so rarely use of forums, but for what will become clear below did a bit of looking around earlier and found this thread.

Anyway, on to my point ...

I had a CMC account which was recently closed citing clause 9.5.2 of the terms of business. The clause is as you'd expect, vague to the point of basically saying 'we can close your account just because we want to', nothing unusual in that, almost all firms use the same kind of terms. I did ask CMC for more explanation, but got a tight lipped response. I know full well the reason, just would like to have heard it from the horses mouth.

As I mentioned, I trade for a living and one of my favourite strategies is to trade the volatility around news announcements. During such times I have software that fires lots of orders at anything up to 10 different platforms and I try to grab any liquidity availably to capture at least some of the spike. I use several large ECN brokers, Currenex, numerous market makers and occasionally futures. Providing I can control my orders and slippage to some extent I am happy to manage the risk of a poor entry and understand intimately the difficulties of getting money into the market during such volatility, however I am very profitable in this area despite all it's potential difficulties.

I was using this approach with CMC, almost as a test case, to see if I could find a spread betting account that would offer totally unrestricted trading. I am aware of Prospreads and have used them in the past, but they use a currenex price feed and the fills were always somewhat worse than my other providers, so I ditched them. I was interested in CMC's new model and execution and so tried it out. I'm happy to say it was very profitable, but alas, CMC decided that my trading approach is obviously not to their liking and closed my account. I understand completely the difficulties for a market maker in managing orders during a news announcement. Obviously most of the time such brokers cannot hedge, internally client match, or find a way to control the risk of a large trader hitting the market during rapid one way price action. Given all the new hype about the platform 'no requotes', 'no dealer intervention' etc etc I imagined CMC's new platform would offer slippage similar to the 'real' market, thereby offering TRUE unrestricted trading, tax free profits, and the risk of slippage etc would be down to the client to manage.

To sum up it appears CMC does not offer this. As I say, this is not am anti CMC rant, they have their business model which I totally understand. This is just an extra bit of colour to the thread. And for the time being at least, anyone wanting a fully unrestricted spread betting account will have to wait a bit longer.