CMC Markets - Trading Standards & Alleged Fraud

gle101 said:
i was actually referring to prospreads. Yes i understand fp hedges every single trade in the real market. How they can get away being categorized as sb in the uk i don't know, especially as they charge commission on trades instead of a spread. Probably due to the fact they are hedging every position.

____________
"take control with risk & money management"
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fp markets said:
if you look at hmrc public notice 451, commission and interest can be charged for placing a bet
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gle101 said:
why your prices is higher compared to trading the "real" futures is due to the fact you need to hedge all trades? Meaning no real dma?

____________
"take control with risk & money management"
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fp markets said:
having read through this thread you have a serious lack of knowledge as to how providers work. I do not want to get draw into a long argument about this. I suggesat you should call the office if you need further clarification.
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http://www.youtube.com/watch?v=aiqLuDEiDow&feature=related

kapow!!!!
 
DJS1 said:
Well yes obviously this is the case! Think your missing the point of what i'm getting at here...a DMA provider such as ProSpreads or FP Markets is far better for me and like minded traders (big boys who know what they are doing and what they are talking about) as we know we aren't going to get fisted with a 10inch rod up the a***! I'd prefer to pay that little bit extra, safe with the knowledge that the only reason I may lose money is down to my own errors, rather than my provider being dodgy
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Prospreads isn't really DMA, though. Simon from LCG recently explained why the spreads on this type of account will always be wide.

btw, DJS1, if you read through the SB threads you'll see that gle is one of the few posters who tries to see both sides of the argument.
 
FP Markets said:
Having read through this thread you have a serious lack of knowledge as to how providers work. I do not want to get draw into a long argument about this. I suggesat you should call the office if you need further clarification.
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Yes if you think you can win any Goodwill points by being disrespectful it is all on me.:)
 
gle101 said:
Why your prices is higher compared to trading the "real" futures is due to the fact you need to hedge all trades? Meaning no real DMA?

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
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gle101 said:
Yes if you think you can win any Goodwill points by being disrespectful it is all on me.:)
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I was not trying to win any points or be disrespectful, Apologies if I have offended. The structure of SB and CFD providers is very complex and I thought it would be much easier to talk on the phone if you had any queries. I may have come across a bit blunt because it is quiet disheartening hearing someone say what we are offering is impossible when it has been in years of production and millions of pounds spent on it.
 
FP Markets said:
I was not trying to win any points or be disrespectful, Apologies if I have offended. The structure of SB and CFD providers is very complex and I thought it would be much easier to talk on the phone if you had any queries. I may have come across a bit blunt because it is quiet disheartening hearing someone say what we are offering is impossible when it has been in years of production and millions of pounds spent on it.
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Accepted, what I only meant with my questions was to understand the model you use compared to Prospread. Also the tax consideration might be different depending on the country in question. I have no doubt that FP provide real market transparency.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
 
gle101 said:
Accepted, what I only meant with my questions was to understand the model you use compared to Prospread. Also the tax consideration might be different depending on the country in question. I have no doubt that FP provide real market transparency.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
Click to expand...

The model that Prospreads and we use are vastly different and you are right that tax considerations differs depending on the country in question
 
Ross Spur said:
Prospreads isn't really DMA, though. Simon from LCG recently explained why the spreads on this type of account will always be wide.

btw, DJS1, if you read through the SB threads you'll see that gle is one of the few posters who tries to see both sides of the argument.
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Gle may well try to see both sides to the argument, and if so great...the fact is he seems to have a lack of knowledge when it comes to the different provider models available, I'm just trying to clarify what my understanding is and am giving my personal opinion (using a bit of humour in the process) :LOL:. I think there are many naive traders out there who simply take a providers 'word' that all is above board! I'm just pointing out my own preference that DMA is more transparent, therefore giving me a better chance of 'winning'.
 
DJS1 said:
Gle may well try to see both sides to the argument, and if so great...the fact is he seems to have a lack of knowledge when it comes to the different provider models available, I'm just trying to clarify what my understanding is and am giving my personal opinion (using a bit of humour in the process) :LOL:. I think there are many naive traders out there who simply take a providers 'word' that all is above board! I'm just pointing out my own preference that DMA is more transparent, therefore giving me a better chance of 'winning'.
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They make mistakes, but I think most spreadbetting cos are pretty transparent these days. Whether the 'DMA' version gives you a better chance of winning depends on what/how you trade. The ordinary version only starts to fall apart if you trade short TFs on indicies and FX, which still rings alarm bells at SB HQ (unless you lose consistently, of course).

To me, Prospreads and FP both look more expensive than a low comm futures broker, so you need to make quite a lot of money before the tax-free angle helps much.
 
Big thank you to FP Markets for information about the tax SB companies pay to HMRC. I deleted all my posts about tax treatment of client loses for fear of spreading the misinformation. Sorry about that. I will leave this subject to tax professionals.
 
DJS1 said:
Gle may well try to see both sides to the argument, and if so great...the fact is he seems to have a lack of knowledge when it comes to the different provider models available, I'm just trying to clarify what my understanding is and am giving my personal opinion (using a bit of humour in the process) :LOL:. I think there are many naive traders out there who simply take a providers 'word' that all is above board! I'm just pointing out my own preference that DMA is more transparent, therefore giving me a better chance of 'winning'.
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Excuse me for being a "naive trader" with lack of knowledge about the markets. I think I need some help from a experienced DMA trader and a great poster like you.

I really thought I heard it all, but apparently not.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
 
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Ross Spur said:
They make mistakes, but I think most spreadbetting cos are pretty transparent these days. Whether the 'DMA' version gives you a better chance of winning depends on what/how you trade. The ordinary version only starts to fall apart if you trade short TFs on indicies and FX, which still rings alarm bells at SB HQ (unless you lose consistently, of course).

To me, Prospreads and FP both look more expensive than a low comm futures broker, so you need to make quite a lot of money before the tax-free angle helps much.
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If I were a serious DMA trader I would be glad to pay tax, this means you are on the winning side. Losses can certainly come and in that case one can make substantial tax cuts. In Sweden we can deduct from the first crown lost. In UK I believe you have to lose quite a lot before being able to deduct the losses from your tax.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
 
gle101 said:
Excuse me for being a "naive trader" with lack of knowledge about the markets. I think I need some help from a experienced DMA trader and a great poster like you.

I really thought I heard it all, but apparently not.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
Click to expand...

Never mentioned anything about a lack of knowledge regarding the markets, if you read the post properly you will see I was referring to the provider models...and quite clearly I was right: 'market makers don't create their own synthetic market', 'They don't profit from clients losses', 'only time SB has problem is when they don't have enough time to hedge'...come back and comment when you show that you actually understand what you are talking about then I might take your comments a bit more seriously.

Until then, seeing as you seem to rate someone's opinions based on how many 'posts' they have entered onto a forum, I'll stop wasting my time trying to explain FACTS to someone as yourself, and continue to concentrate on my trading rather than spending all my day blogging (which you appear to do) making statements that are clearly false and wrong!
 
DJS1 said:
Never mentioned anything about a lack of knowledge regarding the markets, if you read the post properly you will see I was referring to the provider models...and quite clearly I was right: 'market makers don't create their own synthetic market', 'They don't profit from clients losses', 'only time SB has problem is when they don't have enough time to hedge'...come back and comment when you show that you actually understand what you are talking about then I might take your comments a bit more seriously.

Until then, seeing as you seem to rate someone's opinions based on how many 'posts' they have entered onto a forum, I'll stop wasting my time trying to explain FACTS to someone as yourself, and continue to concentrate on my trading rather than spending all my day blogging (which you appear to do) making statements that are clearly false and wrong!
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Don't quite see what you're getting wound up about here. Did you open a big short a few days ago, or something?:)
 
DJS1 said:
Never mentioned anything about a lack of knowledge regarding the markets, if you read the post properly you will see I was referring to the provider models...and quite clearly I was right: 'market makers don't create their own synthetic market', 'They don't profit from clients losses', 'only time SB has problem is when they don't have enough time to hedge'...come back and comment when you show that you actually understand what you are talking about then I might take your comments a bit more seriously.

Until then, seeing as you seem to rate someone's opinions based on how many 'posts' they have entered onto a forum, I'll stop wasting my time trying to explain FACTS to someone as yourself, and continue to concentrate on my trading rather than spending all my day blogging (which you appear to do) making statements that are clearly false and wrong!
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I don't see the reason for you being so aggressive defending your own viewpoints. Just present the facts and don't let things get too personal. Yes, when one comes on this forum and after a couple of post thinks he owns the world, and at the same being overly abusive I will react accordingly. This is a discussion forum and everybody is entitled to their viewpoints, let us respect that.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
 
gle101 said:
I don't see the reason for you being so aggressive defending your own viewpoints. Just present the facts and don't let things get too personal. Yes, when one comes on this forum and after a couple of post thinks he owns the world, and at the same being overly abusive I will react accordingly. This is a discussion forum and everybody is entitled to their viewpoints, let us respect that.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
Click to expand...

Gle101

This guy is accurate and I can tell he trades for a living, you should listen more and type less. ;)
 
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