CMC Account Problems

AGB

Junior member
Over the weekend I received a statement from CMC confirming the equity in my account.

Today I tried to trade and was told I did not have sufficient equity, so I checked my account and it showed a NIL balance!!

Phoned the Help Desk and they confirmed the balance shown on my statement was correct and that they are having software problems in respect of updating account balances.

Anyone else experienced the same problem?

( As it was it saved me money as the trade went the wrong way!!)

AGB
 

keano

Well-known member
Kind of AGB.....the other day when i was trading i knew i was 1 pound per point long on the dow. A few minutes later i checked my current positions to see that i was now 2 pound per point long the dow...i hadn't done any other trades since my first one! i shut down market maker and opened the deal4free platform through their site, where i saw a flashing box saying something like.."we are aware of our software problems, and that some of your current positions may be innaccurate" That calmed me down and they fixed the problem a few minutes later, but the point is that if i hadn't have went to their web-based platform, i may have panicked, closed the '2' longs i thought i had only to find out that once they fixed their platform i would actually be short the dow!! make sense? monkeys in suits alot of the damn time...

Keano
 
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DanielLambert

Active member
AGB,


Im having the same problem today , my account is showing as nil Equity Balance. It does give you a bit of a heart attack when you turn the pc on first thing.


They told me the same thing, about sysytems problems, though at first the guy on the helpdesk didnt seem to think they had any problems.

Its fine when they sort it out , but it is very disconcerting that they can suddenly zero out clients account balances and not even send an email or an apology explaining what is going on.
 

DanielLambert

Active member
Whats worse is that if I log on thro the website all my open positions are totally different than the ones that show if I log on thro Marketmaker.

Think they have got Wyatt Earp running the Helpdesk and John Wayne as Head Trader....


Seriously thinking about closing my account.
 

TSP

Newbie
it was not for commission free trading I would have closed the account.. with all the limitations and the once in a while frustrations... cmc is still best of the small league
 

keano

Well-known member
Looks like im in the club...again!! :(. knocked 100 quid off my account for a bet which is 10 points against me at 1 pound per point....morons....

Would love to change aswell, but only worth it in my eyes if going to a direct access broker. I'm totally alien to direct access broking. What fees are you charged. Do you need to pay for a data feed in order to use an IB a/c or does IB do that for you. Charting. Would you just use Quote.com for $10 per month as its so cheap? Its al double dutch to me at the moment, not that i could afford to go that route at the moment anyway.

Could someone give me an example of a very basic set-up for trading with IB for example? e.g quote.com=charting, %%%=datafeed etc..

thx
 
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Bigbusiness

Experienced member
They have removed the money I made yesterday. A few weeks ago they took some money out of my account for no reason. What annoys me is that they don't apologise or give an explanation. It is down to me to get them to sort it out. I think I will just leave the minimum possible in my account.
 

Fluke

Well-known member
I am also having problems with the webb based programme.They call this "the light trading platform" so they tell me.
I have been trying to trade the December contract on Barcalays bank,but can only get rolling cash.I have contacted their tech department at least 3 times and they e mailed a long list of instructions to remove the programme and then to down load it again from their webb site.
I told them I am now using Finnspread and they are loosing out.
I thought I was the only one having problems, I am fed up with this and have stopped using them and hope my cash balance is still there.
 

keano

Well-known member
anyone spoke to the morons at CMC yet? took about 30 mins last time befor my current positions and account were back to how they should have been...
 

suggy

Active member
Well I have only been using them a short period of time and already I have come up against numerous flaws in their software. If there were a decent alternative I would be out like a shot but . . .
 

keano

Well-known member
just spoke to them. they're working on it now....the annoying thing is that they dont tell you that they're having problems. you have to go through the panick....check all your statements...make sure you haven't made a mistake....and eventually contact them before they're like "yeah....we've got software problems...." How about notifying us first you bunch of dougnuts??
 

AGB

Junior member
Still showing a nil balance!!

This has now cost me a move which would have given me my target for the day!

I have had an account with CMC for sometime but stopped using it for shares because of the bias.

Recently started to look at forex and in view of comments on other threads CMC seemed to be a way of "dipping my toe in the water" at £1 per pip.

In view of what has happened looks like I will be opening a FXCM mini account, especially as they seem to be going to improve their charting package.

Anyone with any experience with them?

AGB
 

keano

Well-known member
Yeah...me too AGB. my trade at 1 Pound per point which is now nearly break-even is still costing me 90 squid, lol...
Your right about the bias with shares aswell. trying to do US stocks with D4F can be like asking for a losing trade. Someone give me a typical cheap/easy set up for trading with IB please?i.e charting, what to do as far as data feeds are concerned...fees, remember...im used to spreadbetting so all the data feed talk etc is a bit alien to me.
 

drivethru

Newbie
There is a new SB company starting up www.capitalspreads.com it looks promising ... but they are not live yet you can only do simulation trades ...nice site and easy to surf around. Heres hoping that they are finally someone to compete with the D4F guys.
 

drivethru

Newbie
mmmmmm .... neil . i think you are looking at the quarterly (fwd) FX rate. in comparison IG and City are an even more impressive 20 and 22 points.
They do not have the daily spreads on the simulator but if you look in the Market Specs sheet you will see that the daily EUR/USD spread will be a quite slim 4 pips
 

options

Senior member
AGB.
Take your pick between FXCM and Refcofx, both do mini accounts and now both for $300. nothing to choose between them as they both use the same charts, news feed etc.

CMC compares on spread most times, but they do go their own way, and are often off the mark, and get up to all the usual tricks.
It might be tax free, but I'd rather make a bit more and pay tax.
 
 
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