CMC - Market Maker v New Platform the Pros & CON

[Aston1st]

It was a good idea of CMC to create the other thread, as it absorbs the other threads critizing it.

I am very much against the new trading platform for numerous reasons.

1. The Margins are 70% higher
This means you need twice as much more capital to trade the next size up.
i.e Old platform trading £1.00 per tick = £40.00
New Platform trading £1.00 per tick = £68.00

2. The downloaded Market Maker means that you can spread the tickers across different areas of your screens if you have more than one.

3. Reduction of Finanical Products traded

4. The "new" platform times it'self out!!!!! fatal for trading

5. How do you create Price alerts on the New Platform - seems like you cannot so stand by your P.C

6. Operating Stop Loss are more complicated unless your having automatic one's.

CMC is not giving it's clients a freedom of choice. People who would rather stick to the Market Maker are being forcabily migrated to the New Platform.

 

[Ross Spur]

You haven't mentioned the lousy charts?!

 

[Aston1st]

Yes your right,

I forgot because I have long given up with their charts and use e-signal instead.

That was after being stopped out at certain price which was not on CMC's charts, I was told by the "Broker" "Charts are just an indicator of price" ???????

 

[Ross Spur]

Yes your right,

I forgot because I have long given up with their charts and use e-signal instead.

That was after being stopped out at certain price which was not on CMC's charts, I was told by the "Broker" "Charts are just an indicator of price" ???????

Can't see how they can get away with that old excuse when next gen has a direct trading from charts facility.

 

[TraderJW]

I thoroughly agree that the new platform is awful. I have been using MM for around 4 years but I've been looking for a new broker recently. MM was fine but sometimes lacked the execution for big positions still infinitely better than the new platform. Add to the list:

1. Cannot seem to change the default settings for new charts.

2. Cannot remove the distracting "extra digit" for currencies.

3. Difficult to zoom in on charts.

The final draw this week for MM though for has been stopping all trading on crude oil. Haha at a time like this?

 

[Aston1st]

@TraderJW

Yes for me the only problem with the MM was that the execution of some large trades was bad, and that was down to the dealers on the other side.

Another draw down with the "New & Improved" platform is on the old Market Maker, once your profit hit a certain threshold you could add to your position.

But with the "New & Improved" platform it doe's not recognise your profits until you have come out of your position. This means to add size you must first close your winning position then re-enter

 

[Mornington Crescent]

"Next Gen"

what a joke

apalling package

If they force me off MM , I will just close my account.

 

[tar]

Until now i dont know y they call it next gen ?!

 

[tim3]

Although I admire Peters passion and him spending time on here answering questions for me a long time user of market maker,the new platform is nowhere near as good as mm which in itself has fallen behind others such as IG's advanced charts in recent times.

I will probably close my account if they force me over.

I could talk for ages about the issues but lack of customisation (they don't even have pop out windows,surely a basic feature these days?)A very clunky feel when using it,poor colour schemes,lack of products,no pivots on charts yet are a few of the basic issues.

I have a feeling cmc have gone in house for charts to save money rather than buy a tested package,big mistake imo as although no doubt they will improve it I doubt that their software will ever be as good as some of the best out there as it has so many limitations it just does not feel like it was designed with serious traders in mind.

I remember when I first used mm I was totally blown away at how good it was compared with what I had been using sadly the oppisite is true of the "next gen" sorry Peter

 

[TraderJW]

Yeah there are endless reasons why the new platform is unworkable. I've opened a couple of accounts in the last week to try to find a better alternative to MM but so far no success. Have tried CityIndex- awesome spreads and execution but you have to open a window every time you wish to look at a chart which is so inconvenient. Tried FXPro and FinSpreads too which don't stack up.

I guess what i'm really looking for from a platform is like MM with customisable workspace and clear charts but with better execution, spreads, news feeds and now markets (crude oil and vol index).

I don't think this platform exists, though, let me know if you guys have a good suggestion to try out.

 

[tar]

Although I admire Peters passion and him spending time on here answering questions for me a long time user of market maker,the new platform is nowhere near as good as mm which in itself has fallen behind others such as IG's advanced charts in recent times.

I will probably close my account if they force me over.

I could talk for ages about the issues but lack of customisation (they don't even have pop out windows,surely a basic feature these days?)A very clunky feel when using it,poor colour schemes,lack of products,no pivots on charts yet are a few of the basic issues.

I have a feeling cmc have gone in house for charts to save money rather than buy a tested package,big mistake imo as although no doubt they will improve it I doubt that their software will ever be as good as some of the best out there as it has so many limitations it just does not feel like it was designed with serious traders in mind.

I remember when I first used mm I was totally blown away at how good it was compared with what I had been using sadly the oppisite is true of the "next gen" sorry Peter

CMC spent 100 Million $ on next gen !

 

[Aston1st]

Oh yes another reason is that the "New&Improved" Next Gen, is anti scalping. While any SB platform is not ideal for scalping, MM was possible.

This "NextGen" will not allow you to have both the Bid\Ask platform up, i.e when you go to either buy or sell the other disappears and it takes a few clicks to even execute the trade.

 

[Mornington Crescent]

CMC spent 100 Million $ on next gen !

That's probably what Goldman Sachs charged them for it

so just another way of not paying/evading Uk Corp Tax