CMC Markets - Next Generation Platform

[fast trader7]

Hello,
Have you tried CMC's New platform after the last week's update? They have added the price depth and what a surprise!! The spread of 0.7 increased if you try to trade big!! So please donot be fooled by
the advert saying .. Tightest spread in the market.The spread can go up as much as 4 points on dax.
I think it is ok if you try small amount

Any experiences?

Happy trading!!

 

[$kint]

I have been using CMC markets for a while, unfortunatley I have recently had a questionable experience with them. Yesterday I logged into my account to see my account had taken a slight turn for the worse (screen shots from iphone)...

Needless to say losing this amount of money is a slight concern! Then I looked and I was clear they had been manipulating the markets to try and hit my stop-losses:

I think i might need to complain!

 

[scose-no-doubt]

lol

 

[$kint]

In all serious though, their iPhone app seems to mess up quite a bit with markets flatlining like the GBP/USD above, not good if you are trying to check you positions!

 

[gle101]

What about a real live trading report, how well are they performing?

 

[kasamavic]

Has anyone had a FTSE divi deduction last night and can confirm how much CMC deducted.

Reuters say it should be 25.4p. IG charged 25.4p, but good old CMC charged 27.7p.

When i queried it they claimed the divi has a tax element in it and that is why it's higher.

Can anyone else confirm this, or are they talking out of their proverbial trying to rake more off the pot?

 

[Warrant]

Re: CMC Markets

I have noticed that the slippage is at least 0,7, so the real spread they offer is not 0,7 but 2,1. Also their feed is sometimes lagging approx. 2 points and having extra up and down ticks. If you are not careful they will take 4-5 points of your profits and in many short trades this could be over 70% of your profit. In graph everything looks nice, but in real life it is not. Today my stop was hit and I got 1,2 points worse price than the close price I was monitoring and clicking. Also after 10sec I noticed that my stop was not actually hit, the close price in the graph had changed and stayed well above stop and the trade continued in the right direction, so cmc managed once more to fool me. You can easily see the difference when paper trading, then there is not so many extra down ticks and your "profits" will run smoothly. Maybe they have used 99% of the platform development cost and time to make sure you do not win or at least they make it as hard as possible. You still get 30% what belongs to you, but this leads easily to big losses as the slippage and fast movent against you makes your situation even worse. For some reason (lag) trades moves much faster against you that in the right direction if you have a position. I will still stay with them but if I get as profitable as the system I use , I wont be feeding them anymore. Now I like that I can play small and practise to execute my system and this extra they take is the price I have to pay or do I?

 

[kalott]

Re: CMC Markets

I have noticed that the slippage is at least 0,7, so the real spread they offer is not 0,7 but 2,1. Also their feed is sometimes lagging approx. 2 points and having extra up and down ticks. If you are not careful they will take 4-5 points of your profits and in many short trades this could be over 70% of your profit. In graph everything looks nice, but in real life it is not. Today my stop was hit and I got 1,2 points worse price than the close price I was monitoring and clicking. Also after 10sec I noticed that my stop was not actually hit, the close price in the graph had changed and stayed well above stop and the trade continued in the right direction, so cmc managed once more to fool me. You can easily see the difference when paper trading, then there is not so many extra down ticks and your "profits" will run smoothly. Maybe they have used 99% of the platform development cost and time to make sure you do not win or at least they make it as hard as possible. You still get 30% what belongs to you, but this leads easily to big losses as the slippage and fast movent against you makes your situation even worse. For some reason (lag) trades moves much faster against you that in the right direction if you have a position. I will still stay with them but if I get as profitable as the system I use , I wont be feeding them anymore. Now I like that I can play small and practise to execute my system and this extra they take is the price I have to pay or do I?

Dax or forex?

 

[gle101]

Re: CMC Markets

I have noticed that the slippage is at least 0,7, so the real spread they offer is not 0,7 but 2,1. Also their feed is sometimes lagging approx. 2 points and having extra up and down ticks. If you are not careful they will take 4-5 points of your profits and in many short trades this could be over 70% of your profit. In graph everything looks nice, but in real life it is not. Today my stop was hit and I got 1,2 points worse price than the close price I was monitoring and clicking. Also after 10sec I noticed that my stop was not actually hit, the close price in the graph had changed and stayed well above stop and the trade continued in the right direction, so cmc managed once more to fool me. You can easily see the difference when paper trading, then there is not so many extra down ticks and your "profits" will run smoothly. Maybe they have used 99% of the platform development cost and time to make sure you do not win or at least they make it as hard as possible. You still get 30% what belongs to you, but this leads easily to big losses as the slippage and fast movent against you makes your situation even worse. For some reason (lag) trades moves much faster against you that in the right direction if you have a position. I will still stay with them but if I get as profitable as the system I use , I wont be feeding them anymore. Now I like that I can play small and practise to execute my system and this extra they take is the price I have to pay or do I?

Good report, thanks. Well I guess nothing is for free. They will take it back in some way or the other. Too narrow spread might not be the right thing in order to be secure in ones trades. If the average execution is worse than others why trade with them? CMC will not in the long run succeed fooling the clients, if that is the case they really implement designer slippage. Have you had a look at Prospreads? I am myself is looking in that direction. As they now offer mini-lots it it might be worth a go testing their service on some interesting instruments like the DAX.

 

[Warrant]

Re: CMC Markets

Dax or forex?

This was about DAX, but I will check if there is similar behavior with other instruments also.

Tomorrow I will try to forget this and just execute my plan as well as possible and then compare the end result with the number I write down when pressing the button. I normally use close value as entry, exit and stop. Maybe I have to press buy a few seconds earlier to get it? Or maybe I record the screen so it is easy to watch later how the shown price compares with given.

 

[gle101]

Re: CMC Markets

This was about DAX, but I will check if there is similar behavior with other instruments also.

Tomorrow I will try to forget this and just execute my plan as well as possible and then compare the end result with the number I write down when pressing the button. I normally use close value as entry, exit and stop. Maybe I have to press buy a few seconds earlier to get it? Or maybe I record the screen so it is easy to watch later how the shown price compares with given.

If you manually is closing the position, have you tried to set the boundary close to zero in order to avoid the slippage? On the draw side, you might not get out of the position on your first try.

 

[R.Charnock]

Re: CMC Markets

This was about DAX, but I will check if there is similar behavior with other instruments also.

Tomorrow I will try to forget this and just execute my plan as well as possible and then compare the end result with the number I write down when pressing the button. I normally use close value as entry, exit and stop. Maybe I have to press buy a few seconds earlier to get it? Or maybe I record the screen so it is easy to watch later how the shown price compares with given.

Have you asked for an explanation? Shame CMC doesn't have someone who monitors these threads now.

 

[instant]

try capital spreads

they only offer 1 point spread (Dax, Eur/usd etc) but i have never had a problem on fills or on order activation , slippage etc. I have had an account for several years but I do only trade up to 20/25 quid a point which probably helps

 

[R.Charnock]

What's this, CMC quietly widen their spreads? Now 1.4pt on US30, apparently.

 

[isatrader]

What's this, CMC quietly widen their spreads? Now 1.4pt on US30, apparently.

Think you've been misinformed. See attached current screenshot below:

 

[R.Charnock]

E-mail received.


Cash product changes
From this weekend, there will also be new minimum spreads on the below cash products. Minimum spreads on all other cash products will remain the same.

Product
CMC Markets Cash Spread

UK 100
1

Germany 30
1

US 30
1.4

US NDAQ 100
1

US SPX 500
0.5

Australia 200
1

Gold
0.4

 

[gle101]

E-mail received.


Cash product changes
From this weekend, there will also be new minimum spreads on the below cash products. Minimum spreads on all other cash products will remain the same.

Product
CMC Markets Cash Spread

UK 100
1

Germany 30
1

US 30
1.4

US NDAQ 100
1

US SPX 500
0.5

Australia 200
1

Gold
0.4

I guess a lot of Dow traders will move to Captitalspreads.

 

[isatrader]

E-mail received.


Cash product changes
From this weekend, there will also be new minimum spreads on the below cash products. Minimum spreads on all other cash products will remain the same.

Product
CMC Markets Cash Spread

UK 100
1

Germany 30
1

US 30
1.4

US NDAQ 100
1

US SPX 500
0.5

Australia 200
1

Gold
0.4

Interesting, I haven't had that email. But I use the CFD platform. So maybe it's only on the spread betting platform?

 

[kalott]

E-mail received.


Cash product changes
From this weekend, there will also be new minimum spreads on the below cash products. Minimum spreads on all other cash products will remain the same.

Product
CMC Markets Cash Spread

UK 100
1

Germany 30
1

US 30
1.4

US NDAQ 100
1

US SPX 500
0.5

Australia 200
1

Gold
0.4

.uk ?


Unsere niedrigsten Gebühren | CMC Markets

 

[brasil2000]

E-mail received.


Cash product changes
From this weekend, there will also be new minimum spreads on the below cash products. Minimum spreads on all other cash products will remain the same.

Product
CMC Markets Cash Spread

UK 100
1

Germany 30
1

US 30
1.4

US NDAQ 100
1

US SPX 500
0.5

Australia 200
1

Gold
0.4

I also have not receive this email,I would be shock if they increase their spreads,considering how competitive the Uk spread betting industry is.
From a cmc uk spread betting client