I have just opened an account with CMC Markets. It generally seems fine but temporarily yesterday afternoon the prices didn't seem to be updating at least I couldn't close out a [losing] FX trade when I wanted to. I also use IG Index and I would say I have two main observations about using those platforms with FX:
1) IG Index prices update more frequently
2) News feed for CMC Markets seems better with alerts for key news items
One final comment about preference; I like to be able to set the stop when I do the trade but on the CMC platform it seems to be a two step affair 1) execute trade 2) set stop loss. Whereas on IG Index I can set the stop at the same time as executing the trade.
1) IG Index prices update more frequently
2) News feed for CMC Markets seems better with alerts for key news items
One final comment about preference; I like to be able to set the stop when I do the trade but on the CMC platform it seems to be a two step affair 1) execute trade 2) set stop loss. Whereas on IG Index I can set the stop at the same time as executing the trade.
Citizen2007
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Hi Alan,
I have been using cmc for about six years, no complaints so far other than the odd blip here but nothing major. Not very good for uk indices because of spread and their own marketmaking but dax and dow are very tradeable. Forex is also fine. Shares is excellent.
I have been using cmc for about six years, no complaints so far other than the odd blip here but nothing major. Not very good for uk indices because of spread and their own marketmaking but dax and dow are very tradeable. Forex is also fine. Shares is excellent.
lurkerlurker
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If you usually set stops and targets after a trade, you can use the OCO facility to set a stop and target after you have placed your trade. Otherwise, I do not know of a method to set stops - I did their email survey a few months ago and asked for an "if-done" facility for orders, but I don't know if they have any plans to implement it.
SB companies, and even "real" brokers can have platform issues. It is wise to have the number of the dealing desk handy, and at the slightest hint of IT problems which could affect you, call up to get flat. Even if the web platform is stuck the dealers will make you a price.
Hope this helps. Incidentally I no longer use CMC, but it is just because I have found other platforms more convenient.
When I started spreadbetting, I lost money to TradIndex and a little bit also to CMC. Now that I seem to be making consistent profits, I am wondering if I should trade those accounts just to recover my losses to those firms. I know it doesn't make sense, but I'd rather take a few hundred out of CMC and a grand back out of TradIndex than make £1500 with a different broker.
trendie
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is anybody else getting no price data for CMC just now?
I seem to be connected, but have no prices to trade. showing "N/A" on ALL instruments.
EDIT: server glitch on their end. they say it will be fixed within minutes.
this is the cause if you are getting "PP:Rejection" messages.
I seem to be connected, but have no prices to trade. showing "N/A" on ALL instruments.
EDIT: server glitch on their end. they say it will be fixed within minutes.
this is the cause if you are getting "PP:Rejection" messages.
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CFD Platform
Sorry that I have not been on to Thankyou all for replying....so Thanks.
I did like the demo CMC CFD account and I do prefer the software download but it would be good if you have the choice of a web or "downloaded" .... trading.
I use GFTuk for spreadbetting and you can use both now along with PDA dealing.
IGIndex you can PDA deal too.
Been looking around for a CFD platform. tried Fyshe Global and Talked to Galvan, they are both advisory. Tried GNI Touch, I do like that type of platform, same as Fyshe Global.
So many to choose from. Some want £10,000 but would settle for £5,000. One would take £2,500 these for the advisory accounts.
........to be continued
Sorry that I have not been on to Thankyou all for replying....so Thanks.
I did like the demo CMC CFD account and I do prefer the software download but it would be good if you have the choice of a web or "downloaded" .... trading.
I use GFTuk for spreadbetting and you can use both now along with PDA dealing.
IGIndex you can PDA deal too.
Been looking around for a CFD platform. tried Fyshe Global and Talked to Galvan, they are both advisory. Tried GNI Touch, I do like that type of platform, same as Fyshe Global.
So many to choose from. Some want £10,000 but would settle for £5,000. One would take £2,500 these for the advisory accounts.
........to be continued
lurkerlurker
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I've beta tested it, and it is quite good.
No, it is horrible. I am glad they tried to include one, but at the very least you should be able to specify two (2) contingent orders per entry - for example, a stop and a limit. How they overlooked that I'll never know.
lurkerlurker
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Hi LL,
So, I'm not the only one with the same view! It seems they want to make things difficult.
Why didn't they create something similar to IG's (idiot proof) "order to open"?
Fibonelli
Capital Spreads and IG both have similar contingent order facilities. I think City Index do as well, but don't take my word for it. CMC have designed some terrible implementation which doesn't allow an OCO as a contingent! Glad others have noticed this.
I wonder about CMC - they do surveys from time to time, and on the face of it they seem to care about feedback and improving their platform (the contingent orders, the new web platform, feedback surveys, etc) but they now have one of the worse platforms. No daily future contracts for indices for example! I asked about that, and was told that they don't get much interest - I said that it would be fairly trivial to add the instrument - base it off the "cash" price without the FV adjustment. I get quite annoyed at having to trade an artificial market (there is no cash index, and they can adjust their FV to suit their book risk), so I don't use them any more (except for the odd forex trade, as they still have the best spreads around).
I really prefer the futures contracts - you have an impartial source to check against to make sure the prices aren't being altered to reflect their book risk, and you have an actual underlying market which you can refer to if you absolutely have to query a trade. TradIndex, IG, CS, etc all have daily futures on the indices. Roll on MIFD, and bye bye "cash".
nkruger
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Anybody trading the Dow with CMC today (US30 Cash, they call it)?
Went mad - 100 pips up & down within 5 mins, just after 13.00hrs. What's going on ?
Luckily I was trading with CapSpreads, but I watched on another screen.
Was anyone caught in the middle of that ?
Went mad - 100 pips up & down within 5 mins, just after 13.00hrs. What's going on ?
Luckily I was trading with CapSpreads, but I watched on another screen.
Was anyone caught in the middle of that ?
Priceman
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scullduggery going on there!
Interestingly it doesn't show on any other timeframes like daily or hourly...
Thank goodness it's not my bag and I wasn't trading it.
Just to add detail... I have noticed that the connection time at certain times for me is....slower, ie; 32-42ms normally then it goes 1500ms-2000ms.... and I'm not talking about around news times...paranoid android? I'm sure it's just my internet connection
Anyone else have this?
Interestingly it doesn't show on any other timeframes like daily or hourly...
Thank goodness it's not my bag and I wasn't trading it.
Just to add detail... I have noticed that the connection time at certain times for me is....slower, ie; 32-42ms normally then it goes 1500ms-2000ms.... and I'm not talking about around news times...paranoid android? I'm sure it's just my internet connection
Anyone else have this?
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nkruger
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Quite probably. Bit of Stop Hunting.
Don't often use stops - just stare at the screen, while fondeling Miss Moneypenny......
Yes I agree on this, some of the SB companies do have the future contract as the underlying asset for some of the cash indices. If I don't remember wrong Worldspreads is one of them (although you might have other issues to deal with). The problem with SB future based products is that the spread is often too wide due to fact that most SB companies have fixed spread. I have tested Interactivespreads FTSE 100 future sept, surprisingly narrow spread. Yes the spread is variable, but I see that as a plus if it reflect the real market movement and they execute well. I have yet to carefully check it against the live feed, to see if there is any movement that does not reflect the real market.
AC007
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Cmc Put £1.2 Million In My Friend’s Account By Mistake, My Friend Thought Cmc Put £200,000 By Correcting A Disputred Trade. He Shorted $15,000 A Points Ndaq 100 Which Went Against Him. Next Morning Cmc Liquiedted His Position. He Made A Loss Of £150,000, If His Position Was Not Liquiedted He Would Have Made About £130,000.
Now Cmc Wants Him To Pay £150,000 And He Wants Cmc To Pay Him Specially When One Of The Staffs Admited That If He Made Money Cmc Would Not Have Paid The Profit . It Sounds Like One Way Street. Cmc Would Not Pay Profit But Thay Want Loss On The Trade To Be Paid.
Your Comments On This Would Be Appriciated.
Thanks In Advance
Now Cmc Wants Him To Pay £150,000 And He Wants Cmc To Pay Him Specially When One Of The Staffs Admited That If He Made Money Cmc Would Not Have Paid The Profit . It Sounds Like One Way Street. Cmc Would Not Pay Profit But Thay Want Loss On The Trade To Be Paid.
Your Comments On This Would Be Appriciated.
Thanks In Advance
Is this for real? I will not comment on the amount itself. Things don't look too good for your friend. He did use money that did not belong to him in that trade. What he thought does not matter as I see it. CMC had the right to close the position because the money was paid to your friend's account by a mistake. Your friend caused a loss for the company by using the money, and that loss has to be paid by somebody. If the position turned out to be a a winning trade CMC has the right in not paying the profit. Hopefully somebody at this board has a contradictory opinion that will strengthen your friends case.
