You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
CMC Markets
- Author T2W Bot
- Creation date
Filters
Show only:
Loading…
- Bingo2233
- 1.00 star(s)
Criminal
Deal4free (CMC) was the first spreadbet broker I signed up with back in the day, and I picked them purely for the quoted small spreads. Please don't make my mistake and think all your losses are beginners poor judgement and bad luck, these guys really are out to bleed you dry. Requotes and desperately slow execution to way off the quote prices were the norm, also OCO's didn't (e.g.both-keeps-open), positions would close without getting anywhere near stops, and limits wouldn't be honoured. They even de-listed a company I was betting on and didn't tell anyone, so I had to chase them up to get it closed. Also the MarketMaker software would freeze at inopportune times for no apparent reason. They hated scalpers, or loved them...not sure which, but they wouldn't stop you quick trading they'd just wait to see if you ended up in the money or out. If you were making money then the fun would begin.
I'm sure they'll say things are different now but so long as the same people are at the helm they'll not change that much. They'll never get another penny of mine anyway (if you want a tip: use Prospeads). Last time I logged on with them was a few years ago, I took a look at Activision Blizzard on their new charts. If you wanted to go short it looked like a hedgehog spikes all over, if you wanted to go long it looked like a comb. That kind of price manipulation is criminal. ...AVOID!
Deal4free (CMC) was the first spreadbet broker I signed up with back in the day, and I picked them purely for the quoted small spreads. Please don't make my mistake and think all your losses are beginners poor judgement and bad luck, these guys really are out to bleed you dry. Requotes and desperately slow execution to way off the quote prices were the norm, also OCO's didn't (e.g.both-keeps-open), positions would close without getting anywhere near stops, and limits wouldn't be honoured. They even de-listed a company I was betting on and didn't tell anyone, so I had to chase them up to get it closed. Also the MarketMaker software would freeze at inopportune times for no apparent reason. They hated scalpers, or loved them...not sure which, but they wouldn't stop you quick trading they'd just wait to see if you ended up in the money or out. If you were making money then the fun would begin.
I'm sure they'll say things are different now but so long as the same people are at the helm they'll not change that much. They'll never get another penny of mine anyway (if you want a tip: use Prospeads). Last time I logged on with them was a few years ago, I took a look at Activision Blizzard on their new charts. If you wanted to go short it looked like a hedgehog spikes all over, if you wanted to go long it looked like a comb. That kind of price manipulation is criminal. ...AVOID!
- bernie
- 1.00 star(s)
Not for the serious trader
This is really not a platform for anyone that is serious about trading.
You are not going directly into the market but betting against the house.
This would be ok but after waiting for 1 minute to see if a trade gets filled on dow futures or not i would not call this a professional system by any means.
if you can afford to wait 1 minute to see if a trade gets executed and on something like the dow can surrender 100 points on a requote then feel free to use.
Anyone serious about trading must go down the direct access route.
This is really not a platform for anyone that is serious about trading.
You are not going directly into the market but betting against the house.
This would be ok but after waiting for 1 minute to see if a trade gets filled on dow futures or not i would not call this a professional system by any means.
if you can afford to wait 1 minute to see if a trade gets executed and on something like the dow can surrender 100 points on a requote then feel free to use.
Anyone serious about trading must go down the direct access route.
- TrendTracker
- 1.00 star(s)
Sluggish execution
My experience was that whenever market moved, their system made sure I wasn't able to get my trades executed. I've been 1000 times more satisfied with IB.
My experience was that whenever market moved, their system made sure I wasn't able to get my trades executed. I've been 1000 times more satisfied with IB.
- nzvik
- 1.00 star(s)
New web based platform is unstable and poorly designed
have a been with CMC for a few years now.
Good points till they launched this new platform
- good spreads
- minimal slippage
- generally mirror the market
With the new platform - there are lot of issues
- you cannot use multiple monitors to keep an eye on multiple charts and watchlists
- if you want to view the chart full size - then you can't view the watchlists etc.
- you cannot even open multiple charts for the same instrument
- no. of instruments available are much lesser than market maker
- data is unstable and incorrect at times
- order ticket and stop loss placing though are much better - but you again can't palce an order off a full size chart - you have reduce its size to get the order ticket to fit in the window.
- overall a major disappointment as it looks to be catering for "mobile traders" on ipad, iphone etc. - which i guess attracts more novice and "want to get rich quick" kind of traders
Will be moving my account to another provider - probably FXCM or TradeStation
have a been with CMC for a few years now.
Good points till they launched this new platform
- good spreads
- minimal slippage
- generally mirror the market
With the new platform - there are lot of issues
- you cannot use multiple monitors to keep an eye on multiple charts and watchlists
- if you want to view the chart full size - then you can't view the watchlists etc.
- you cannot even open multiple charts for the same instrument
- no. of instruments available are much lesser than market maker
- data is unstable and incorrect at times
- order ticket and stop loss placing though are much better - but you again can't palce an order off a full size chart - you have reduce its size to get the order ticket to fit in the window.
- overall a major disappointment as it looks to be catering for "mobile traders" on ipad, iphone etc. - which i guess attracts more novice and "want to get rich quick" kind of traders
Will be moving my account to another provider - probably FXCM or TradeStation
- alan5616
- 1.00 star(s)
Bad experience
I was on a trading course a while ago. We were trading live, using CMC as the spread betting co but, we had an independent data source for verification.
We held a position overnight which was showing a good profit and tried to close it soon after market opening. Every time we tried to close it, CMC moved the price away from us, even though the independent RT data feed showed that it had hardly moved. By the time CMC, finally, accepted the order, they had taken another 4p points in addition to their normal spread.
I wouldn't touch them with a bargepole.
I was on a trading course a while ago. We were trading live, using CMC as the spread betting co but, we had an independent data source for verification.
We held a position overnight which was showing a good profit and tried to close it soon after market opening. Every time we tried to close it, CMC moved the price away from us, even though the independent RT data feed showed that it had hardly moved. By the time CMC, finally, accepted the order, they had taken another 4p points in addition to their normal spread.
I wouldn't touch them with a bargepole.
- peacock1984
- 1.00 star(s)
frustration!!
The platform looks nice and is easy to use...BUT definitely not for day trading!
I have sent about 20 emails complaining about various shortcomings of there system....fills are definitely a big issue, if the market is moving fast your guaranteed to get royally screwed by cmc.
Today it took 20mins for my pending order to get filled after the fed announcement....i went from 250bp gain to only a 70bp gain, not to mention that all my capital was locked up waiting for the pending order to get filled so couldn't do anything until i was filled at a price which turned out to be VERY much against me.
Today was the last straw and i am now looking for a decent application/platform...any ideas are welcome
Also am considering setting up a i hate cmc markets society! any takers?.....
The platform looks nice and is easy to use...BUT definitely not for day trading!
I have sent about 20 emails complaining about various shortcomings of there system....fills are definitely a big issue, if the market is moving fast your guaranteed to get royally screwed by cmc.
Today it took 20mins for my pending order to get filled after the fed announcement....i went from 250bp gain to only a 70bp gain, not to mention that all my capital was locked up waiting for the pending order to get filled so couldn't do anything until i was filled at a price which turned out to be VERY much against me.
Today was the last straw and i am now looking for a decent application/platform...any ideas are welcome
Also am considering setting up a i hate cmc markets society! any takers?.....
- fibbinstarchi
- 1.00 star(s)
CMC = Steal4Free
CMC used to called Deal4Free, traders nicknamed them Steal4Free then moved on. CMC's trading reputation was so bad they had remarket themselves as CMC Markets. Enough said? What I have found personally is when you start winning at a constant rate, you will experience difficulties with your trades. If your a successful trader, try betting above 5pp, it's a nightmare. Scalping is a no no, you need to prepare yourself to be robbed of a few pips per trade before you take it.
Why do I trade with them? Because I enjoy taking a few grand a month off their bottom line profits, but am looking for an honest SBet company (do they exist?) to trade with who won't mess me around when I up my stakes considerably in the future, has anyone got any honest recommendations? Not Cap spreads, Finspreads or IG index, they are just as bad.
CMC used to called Deal4Free, traders nicknamed them Steal4Free then moved on. CMC's trading reputation was so bad they had remarket themselves as CMC Markets. Enough said? What I have found personally is when you start winning at a constant rate, you will experience difficulties with your trades. If your a successful trader, try betting above 5pp, it's a nightmare. Scalping is a no no, you need to prepare yourself to be robbed of a few pips per trade before you take it.
Why do I trade with them? Because I enjoy taking a few grand a month off their bottom line profits, but am looking for an honest SBet company (do they exist?) to trade with who won't mess me around when I up my stakes considerably in the future, has anyone got any honest recommendations? Not Cap spreads, Finspreads or IG index, they are just as bad.
- hot_property
- 1.00 star(s)
Biggest Rip Offs in History
I have been to their headquarters about 5 years ago, I used to work closeby. They have a particular desk which looks at all the current positions from traders and calculates the risk towards the firm, they has a bias control that can move the market in their favour and take people out, this is common practice and happens all the time. The people that win usually have positions or stops to far away and are saved, I call this the 'Window Wiper' Scenario.
They also have 2 other key desks. One desk has a guy sitting there looking at all the traders that win all the time. When a trade for this person comes through the firm copies him/her and tries to make money for the firm. The money they use is reconciled from all those people that have lost, so basically its a recycling process, 'Make Money For Free'.
The other guy sits at another desk looking at all the loosing trades coming through. Usually the loosers trade massive stakes so he/she will hedge half the postion if the order is too big. He/she is allowed to take a certain % risk everyday, and the more he makes the bigger the car he will get at the end of the year.
Generally 95% of the people loose money so the firms hedge less and less and pocket the money, They hedge less and less because over the years they have accumulated so much money from 'loosers' they have their own 'pool of money' which can be used to pay money inn and out...
Many people do not understand the 'DEEP GAME' the firms are basically out to get you.
Most of the front line staff are not very clever and are generally rude/inexperienced, when they put the phone down they swear at the customers!
I have been asked by CMC Staff a few time "You are on the online trading platform why are you phoning us"?
I have to explain to an 18 year old that the reason I am calling is because I need a particular price and am getting rejections from the trader at a certain level so have given up on the online platform, also on level 2 there is much volume so why are you not filling me? I also have to advise the trader that they are there to perform a duty and need to satisfy the customer however they can within reason, and his comments are not an attractive way to invite business...its ridiculous really! They give you whatever price they want to give you.
The review by Vispatel below is also very good, this is a true reflection.
The spreads also seems tight but are a lie, they purposely have programmed engines that add +-2 to exits so in real terms you get a bad deal upon exit.
All firms perform this action they want to bankrupt you asap and then advertise again and get the next sucker in. Please hedge your positions and you will smash it!
I hit cmc hard and do massive trades out-of-the-blue, you need to be aggressive with the traders who are on about £30k but think they are on £100k+ when they are not. When I loose with CMC they are not aware I am betting elsewhere and only loose small amounts as I do sector bets. But they are catching on because the money going into the account is weird numbers like 1038.57p as I balance the books.
I get massive delays on my account because they are looking at what I do and copy me. I know this for sure, because when I bet on level 2 a precise chuck gets filled.
A friend traded the interest rate cut a few weeks ago, they said "We could not fill the order as it is exceptionally busy"! What?!!!!basically they got shafted and did not want to make the fill. I have advised this person to take it to the FSA it is a 'Compliance issue'
I would love if a group of traders got together and constituted a account with CMC and traded as a co-op basically there are ways you can make risk free profits if you have £200k in cmc account. The orders also need to be telephoned through to make sure it happens!
People should be very very careful to trade with cmc, just imagine someone setup a betting exchange between traders and no middle man like bet fair! This would be great.
The people who are serious traders should not use this broker, there is much competition and you can find alternative easily.
Firms give you a free £250 bet you can use this and close account. There is now law against this.
I have been to their headquarters about 5 years ago, I used to work closeby. They have a particular desk which looks at all the current positions from traders and calculates the risk towards the firm, they has a bias control that can move the market in their favour and take people out, this is common practice and happens all the time. The people that win usually have positions or stops to far away and are saved, I call this the 'Window Wiper' Scenario.
They also have 2 other key desks. One desk has a guy sitting there looking at all the traders that win all the time. When a trade for this person comes through the firm copies him/her and tries to make money for the firm. The money they use is reconciled from all those people that have lost, so basically its a recycling process, 'Make Money For Free'.
The other guy sits at another desk looking at all the loosing trades coming through. Usually the loosers trade massive stakes so he/she will hedge half the postion if the order is too big. He/she is allowed to take a certain % risk everyday, and the more he makes the bigger the car he will get at the end of the year.
Generally 95% of the people loose money so the firms hedge less and less and pocket the money, They hedge less and less because over the years they have accumulated so much money from 'loosers' they have their own 'pool of money' which can be used to pay money inn and out...
Many people do not understand the 'DEEP GAME' the firms are basically out to get you.
Most of the front line staff are not very clever and are generally rude/inexperienced, when they put the phone down they swear at the customers!
I have been asked by CMC Staff a few time "You are on the online trading platform why are you phoning us"?
I have to explain to an 18 year old that the reason I am calling is because I need a particular price and am getting rejections from the trader at a certain level so have given up on the online platform, also on level 2 there is much volume so why are you not filling me? I also have to advise the trader that they are there to perform a duty and need to satisfy the customer however they can within reason, and his comments are not an attractive way to invite business...its ridiculous really! They give you whatever price they want to give you.
The review by Vispatel below is also very good, this is a true reflection.
The spreads also seems tight but are a lie, they purposely have programmed engines that add +-2 to exits so in real terms you get a bad deal upon exit.
All firms perform this action they want to bankrupt you asap and then advertise again and get the next sucker in. Please hedge your positions and you will smash it!
I hit cmc hard and do massive trades out-of-the-blue, you need to be aggressive with the traders who are on about £30k but think they are on £100k+ when they are not. When I loose with CMC they are not aware I am betting elsewhere and only loose small amounts as I do sector bets. But they are catching on because the money going into the account is weird numbers like 1038.57p as I balance the books.
I get massive delays on my account because they are looking at what I do and copy me. I know this for sure, because when I bet on level 2 a precise chuck gets filled.
A friend traded the interest rate cut a few weeks ago, they said "We could not fill the order as it is exceptionally busy"! What?!!!!basically they got shafted and did not want to make the fill. I have advised this person to take it to the FSA it is a 'Compliance issue'
I would love if a group of traders got together and constituted a account with CMC and traded as a co-op basically there are ways you can make risk free profits if you have £200k in cmc account. The orders also need to be telephoned through to make sure it happens!
People should be very very careful to trade with cmc, just imagine someone setup a betting exchange between traders and no middle man like bet fair! This would be great.
The people who are serious traders should not use this broker, there is much competition and you can find alternative easily.
Firms give you a free £250 bet you can use this and close account. There is now law against this.
- lpsurfer
- 1.00 star(s)
Stay away
I was about to open an account with them in Canada but I decided to read first about them on the internet. It is scary what you read there and I cannot understand how anyone could trade with these crooks. The Australians have the same type of reviews as on this site, most people are screwed by their system.
I also subscribed to their Demo platform. I watched their Nasdaq and Toronto level II against a reputable provider I use for my trades (I am a reasonably seasoned trader). On Nasdaq, they mark up the spreads a minimum of 2 points each way and very often 4 or 5 points. For the Canadian market, where they try to enter (they are not tegistered yet) they did not mark up the spread. However I noticed the unusual spikes that so many people talk about which do not appear on the honest level II I use.
As far as I know, their platform is the only one that does not have Volume, On balance Volume or any other Volume related indicator. Can you guess why? I also checked with the software vendor who provides the original of the CMC platform. They have all the Volume indicators here missing.
At one of their hyped presentations in Toronto I presented them with copies of the reviews I collected of the Internet but I never opened an account.
The CD's (certificate for Difference) they trade are an interesting and attractive derivative if they were to be traded honestly. They could make money on a honnest and declared markup like any market maker. I would accept such mark-ups if the trades were automatic, with no human interference in between.
So stay away if you don't want to part with your money.
I was about to open an account with them in Canada but I decided to read first about them on the internet. It is scary what you read there and I cannot understand how anyone could trade with these crooks. The Australians have the same type of reviews as on this site, most people are screwed by their system.
I also subscribed to their Demo platform. I watched their Nasdaq and Toronto level II against a reputable provider I use for my trades (I am a reasonably seasoned trader). On Nasdaq, they mark up the spreads a minimum of 2 points each way and very often 4 or 5 points. For the Canadian market, where they try to enter (they are not tegistered yet) they did not mark up the spread. However I noticed the unusual spikes that so many people talk about which do not appear on the honest level II I use.
As far as I know, their platform is the only one that does not have Volume, On balance Volume or any other Volume related indicator. Can you guess why? I also checked with the software vendor who provides the original of the CMC platform. They have all the Volume indicators here missing.
At one of their hyped presentations in Toronto I presented them with copies of the reviews I collected of the Internet but I never opened an account.
The CD's (certificate for Difference) they trade are an interesting and attractive derivative if they were to be traded honestly. They could make money on a honnest and declared markup like any market maker. I would accept such mark-ups if the trades were automatic, with no human interference in between.
So stay away if you don't want to part with your money.
- nunrgguy
- 1.00 star(s)
Not putting up with them any more. Account closed
Opened a trade at market at £1pp (I know I'm an idiot for not using a limit order). Trade was opened 30 pips above screen price and immediately I went £30 down. Called them to say this was not acceptable to which the response was 'the trade was OK, you were not re-quoted'...of course it wasn't it was a market order! Apparently all prices on screen whether on order tickets or charts (which tracks the ticket exactly, even though I have just been told differently) are indicative only, meaning they're garbage. So according to them, the moment I hit accept the market jumped 30 points and then jumped straight back down to the indicated screen price. Well Im not having it and the crooks are not having my business.
Opened a trade at market at £1pp (I know I'm an idiot for not using a limit order). Trade was opened 30 pips above screen price and immediately I went £30 down. Called them to say this was not acceptable to which the response was 'the trade was OK, you were not re-quoted'...of course it wasn't it was a market order! Apparently all prices on screen whether on order tickets or charts (which tracks the ticket exactly, even though I have just been told differently) are indicative only, meaning they're garbage. So according to them, the moment I hit accept the market jumped 30 points and then jumped straight back down to the indicated screen price. Well Im not having it and the crooks are not having my business.
- businessman
- 1.00 star(s)
Closed my account within 2 weeks
I am amazed that you cannot put stops on individual trades you have to put an opposite trade - imagine what happens if you close your trade but forget to close the stop trade! Their browser interface is a joke. They closed my position early even though my stop was lower and even though I was within the margin that they held. Very expensive affair - should never have opened an account with them.
I am amazed that you cannot put stops on individual trades you have to put an opposite trade - imagine what happens if you close your trade but forget to close the stop trade! Their browser interface is a joke. They closed my position early even though my stop was lower and even though I was within the margin that they held. Very expensive affair - should never have opened an account with them.
- Aston1st
- 1.00 star(s)
Better to invest your Money in the Shredding Machine
CMC do not like Day traders.
They actively trade against their Customers. They are Fraudlent thieves. Please forward this to them as I hope they sue me..................
Their whole Advertising Campaign is based around a faulty "Trading Platform". To give the impression that the Customers are trading the "markets" they are not. They are trading against CMC.
You are better off placing your money in the Shredding machine switching it on and then seeing how much you can save by switching it off.
CMC do not like Day traders.
They actively trade against their Customers. They are Fraudlent thieves. Please forward this to them as I hope they sue me..................
Their whole Advertising Campaign is based around a faulty "Trading Platform". To give the impression that the Customers are trading the "markets" they are not. They are trading against CMC.
You are better off placing your money in the Shredding machine switching it on and then seeing how much you can save by switching it off.
- anpremar
- 1.00 star(s)
worst i have seen
terrible platform. you cannot put stop-loss and take-profit when placing your order. you do this separately and it is not closed automatically when you close your trade. they want you to forget it so that they can suck your money. help and support are either not available or completely incompetent. their web site is a mess and there is a lot of incorrect information there.
i closed my account 2 weeks ago and still have not received my check. tried to call but so far have not managed to speak to someone who can give me any information.
it is very frustrating to deal with these guys, so stay away from them.
terrible platform. you cannot put stop-loss and take-profit when placing your order. you do this separately and it is not closed automatically when you close your trade. they want you to forget it so that they can suck your money. help and support are either not available or completely incompetent. their web site is a mess and there is a lot of incorrect information there.
i closed my account 2 weeks ago and still have not received my check. tried to call but so far have not managed to speak to someone who can give me any information.
it is very frustrating to deal with these guys, so stay away from them.
- winmoney
- 1.00 star(s)
Software
I think it's the software that gets me most about CMC. Whilst everything else runs fine on my (high spec) PC. CMC 'MarketMaker' will freeze for around 5 mins, 4 or 5 times an hour.
Recently it's developed a new habit where it will 'lose connection' and so you cannot trade or get any prices. This is hapening around every 10 minutes.( whereas all my other internet based software is connected fine)
If you do manage to get a few minutes when the software allows you to place a trade. More often tha not you won't get the price you clicked (even on very small orders). It will go away for a couple of minutes and give you a requoted price in a yellow box.
I CANNOT understand how this company continues to operate. It must be through having lots of new subscribers, who lose money then walk away. Only a high turnover of customers would keep this company going, as no could seriously use this product for anything constructive long term. It's just a bizzare company - Do not use !
I think it's the software that gets me most about CMC. Whilst everything else runs fine on my (high spec) PC. CMC 'MarketMaker' will freeze for around 5 mins, 4 or 5 times an hour.
Recently it's developed a new habit where it will 'lose connection' and so you cannot trade or get any prices. This is hapening around every 10 minutes.( whereas all my other internet based software is connected fine)
If you do manage to get a few minutes when the software allows you to place a trade. More often tha not you won't get the price you clicked (even on very small orders). It will go away for a couple of minutes and give you a requoted price in a yellow box.
I CANNOT understand how this company continues to operate. It must be through having lots of new subscribers, who lose money then walk away. Only a high turnover of customers would keep this company going, as no could seriously use this product for anything constructive long term. It's just a bizzare company - Do not use !
- bhatia_ash
- 1.00 star(s)
Sharp Practices
Confusing & slow platform and unethical business practices.
Confusing & slow platform and unethical business practices.
- markwhittle
- 1.00 star(s)
CMC
Customer service is a joke (NZ office)I phoned them recently complaining that a limit order that I had placed had not activated even though the MM chart indicated that it had reached the required value.(no spike involved by the way)
The explanation from the call centre operater was, and I quote "the charts are wong" (she meant wrong!)I asked her how am I supposed to trade with charts that are ficticious.Ludicrous!
Customer service is a joke (NZ office)I phoned them recently complaining that a limit order that I had placed had not activated even though the MM chart indicated that it had reached the required value.(no spike involved by the way)
The explanation from the call centre operater was, and I quote "the charts are wong" (she meant wrong!)I asked her how am I supposed to trade with charts that are ficticious.Ludicrous!
- gaffeli
- 1.00 star(s)
Not Recommended
Yes my experience has been poor after being telemarketed by someone saying just put $1000 in off your credit card and you get free cd's.
You cannot afford to put stops on record as they'll clean you out.
So very difficult to set and allow a trade to develop.
Stay away.
Yes my experience has been poor after being telemarketed by someone saying just put $1000 in off your credit card and you get free cd's.
You cannot afford to put stops on record as they'll clean you out.
So very difficult to set and allow a trade to develop.
Stay away.
- kwalduck
- 1.00 star(s)
Dire Customer Service
An awful expeience using this bunch, took four phone calls before they eventually agreed to allow me to withdraw my funds - reason? Because on signing up I didnt give them a land line (I trade via mobile broadband) and despite getting written confirmation that this was acceptable (by the Marketing Manager) I was put on hold for so long I needed another shave. Also when you close a position any associated stop losses and limits remain live so if you forget to close them too you'll end up with a few more trades than you bargained for.
An awful expeience using this bunch, took four phone calls before they eventually agreed to allow me to withdraw my funds - reason? Because on signing up I didnt give them a land line (I trade via mobile broadband) and despite getting written confirmation that this was acceptable (by the Marketing Manager) I was put on hold for so long I needed another shave. Also when you close a position any associated stop losses and limits remain live so if you forget to close them too you'll end up with a few more trades than you bargained for.