cmc forex account

andrewmooton

Active member
192 1
Hi there,

I just enquired about opening a fx account with cmc and they told me that you need 6 months forex experience to open one.

Does anyone know why this is?

Cheers,
Andrew
 

ChowClown

Senior member
2,732 56
...some FSA reg or other. Have a look at FXCM and the like as a comparison. I opened an FXCM account recently and they required trading experience (6 mnths+), but not FX experience per se.
 

Dan-Man

Newbie
6 0
try www.capitalspreads.com I'm with these guy's same spreads as cmc but better imr example cable 40 times so £5 bet £200 needed in account. cmc is 150:1
 

JonnyT

Senior member
2,560 22
You would have to be a stark raving lunatic to Spreadbet Forex at £5 per pip with a £200 account.
You would have to be a stark raving lunatic to Spreadbet Forex at £5 per pip with a £2,000 account.

JonnyT
 

TRADERguy

Active member
122 3
andrewmooton said:
Do you think that you would need to show that you are 'good' at it or just that you have experience?

I opened a CMC account a while back, just tell them what they want to hear, there is no documentation of any trading experience required.
 

TRADERguy

Active member
122 3
andrewmooton said:
thats not what they told me.

they said i'd need to show my statements if I wanted to open an account with them.

Then maybe things have changed. They conducted a telephone interview with me and recorded it.
 

Newtron Bomb

Experienced member
1,602 87
Have a look at "bet on markets" a good way to get into the trading arena without throwing your shirt in. Fixed odds betting with fixed risk reward

HTH
NB
 

robber

Member
82 0
andrew, make sure you apply for the spreadbet account NOT the CFD one, that way Im sure you will get the go ahead.

Neil
 

SvenFoster

Well-known member
250 10
andrewmooton said:
thats not what they told me.

they said i'd need to show my statements if I wanted to open an account with them.


And did they by any chance suggest openning a spreadbetting account Because its just the same according to them...
 

andrewmooton

Active member
192 1
yes they did suggest opening a sb account.

they did not say its just the same but they did say that the spreads are the same.

why do you ask?
 

SvenFoster

Well-known member
250 10
andrewmooton said:
yes they did suggest opening a sb account.

they did not say its just the same but they did say that the spreads are the same.

why do you ask?

I had the same thing sometime ago. I got the feeling the rules for them are a little fuzzier from the point of view of Regulation if your a "spreadbetter".
 
 
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