CMC Markets - Next Generation Platform

[lancenicolase]

I thought next gen was a real success... 300% growth and complete customer satisfaction?
At least that's what PC kept saying... ha ha.

 

[gle101]

I think you guys are a little bit quick to pass judgement. I am willing to see what they come up with in the coming month regarding platform upgrade and slippage. As I said CMC have invested a lot capital the platform, so I think we are going to see some improvement, hopefully it also will include a more sound slippage policy.

 

[Ross Spur]

I think you guys are a little bit quick to pass judgement. I am willing to see what they come up with in the coming month regarding platform upgrade and slippage. As I said CMC have invested a lot capital the platform, so I think we are going to see some improvement, hopefully it also will include a more sound slippage policy.

If Next Gen worked the way PC described there wouldn't need to be a slippage policy. Trades were supposed to go through the system fully automatically, and if the price had moved by the time it reached the platform you were filled at that level, for better or worse. Overall, the negatives and positives would tend to balance.

 

[x4x]

I thought next gen was a real success... 300% growth and complete customer satisfaction?
At least that's what PC kept saying... ha ha.

At first it was extremely fast both in and out, stops were being hit on the money more often than not so the tight spreads had real value. Now almost every stop is slipped, often by what I would consider a wholly unacceptable amount (10 -20%), execution is now very slow and the platform is cumbersome - it should be called geriatric rather than 'next gen'. What exactly makes it 'next gen'?

There is supposed to be an upgrade on the way, but I doubt it will be anywhere near what is required to compete with far superior platforms that already exist.

 

[Ross Spur]

There is supposed to be an upgrade on the way, but I doubt it will be anywhere near what is required to compete with far superior platforms that already exist.

In that case we'll all be able to say hi to PC down at the Job Centre.

 

[x4x]

In that case we'll all be able to say hi to PC down at the Job Centre.

To spend 100 million on something that hasn't been researched and designed properly is a huge **** up - his days may well be numbered.

 

[Ross Spur]

To spend 100 million on something that hasn't been researched and designed properly is a huge **** up - his days may well be numbered.

There must be too many yesmen at CMC. They need people like us who tell it like it is! Still, it will take a lot more than £100m to dent PC, although he might drop a few places in the Sunday Times Rich List.

 

[gle101]

To spend 100 million on something that hasn't been researched and designed properly is a huge **** up - his days may well be numbered.

Well here is the rich guy, you seem to have it all I guess.

 

[gle101]

If Next Gen worked the way PC described there wouldn't need to be a slippage policy. Trades were supposed to go through the system fully automatically, and if the price had moved by the time it reached the platform you were filled at that level, for better or worse. Overall, the negatives and positives would tend to balance.

I don't think they are able to keep the 0.7 spread if the slippage is totally even out. One must realize that they will not give away money for free. I will wait and see how they perform after the platform have been upgraded. I mean, what is the use to keep ranting like some traders do on this thread, and still even continue trading with them. Beats me, but what do I know.

 

[Ross Spur]

I don't think they are able to keep the 0.7 spread if the slippage is totally even out. One must realize that they will not give away money for free. I will wait and see how they perform after the platform have been upgraded. I mean, what is the use to keep ranting like some traders do on this thread, and still even continue trading with them. Beats me, but what do I know.

Pity they can't just get rid of the decimals and offer a fixed 1pt spread with good execution on all the main indices and EU/GU.

 

[gle101]

Pity they can't just get rid of the decimals and offer a fixed 1pt spread with good execution on all the main indices and EU/GU.

I am quite sure Peter knows this slippage issue has to be solved. How they go about it I don't know, but I am confident something will be done. Also some needed platform features will come around very soon. I have no reason to doubt Peter and CMC, the competition demands that they take steps in the right direction. I understand the idea behind "precision pricing", and I like it, you get rid of the rejections and re-quote. I hope they find a good model for the slippage, if so trading with CMC might be very interesting in the near future.

 

[tim3]

Are you saying that you get slippage on stops during normal market hours?

I trade with city with 1 point dow spread hundreds of trades over the last year or so never had a single point stop slippage.

 

[x4x]

Are you saying that you get slippage on stops during normal market hours?

I trade with city with 1 point dow spread hundreds of trades over the last year or so never had a single point stop slippage.

Yep - 2.4 points yesterday morning at 07:25 & 1.6 points at 15:32.

 

[x4x]

I am quite sure Peter knows this slippage issue has to be solved. How they go about it I don't know, but I am confident something will be done. Also some needed platform features will come around very soon. I have no reason to doubt Peter and CMC, the competition demands that they take steps in the right direction. I understand the idea behind "precision pricing", and I like it, you get rid of the rejections and re-quote. I hope they find a good model for the slippage, if so trading with CMC might be very interesting in the near future.

I don't think anyone on Peter's design team has a single clue what we as traders require from a platform - if you don't even know what your trying to achieve, you'll never achieve it!

They've promoted the new platform as the Next Generation but they've actually provided something that is so far behind the times it's unbelievable. To make up for it they're now promoting bare bone spreads and have to make their profits from slippage. It all seems pretty desperate to me.

 

[gle101]

I don't think anyone on Peter's design team has a single clue what we as traders require from a platform - if you don't even know what your trying to achieve, you'll never achieve it!

They've promoted the new platform as the Next Generation but they've actually provided something that is so far behind the times it's unbelievable. To make up for it they're now promoting bare bone spreads and have to make their profits from slippage. It all seems pretty desperate to me.

If they are so terrible, why do you continue to trade with them? How many trades do you make, and how much negative and positive slippage on each trade? You must be losing quite a lot of money in the way you keep complaining on this thread.

 

[Ross Spur]

Yep - 2.4 points yesterday morning at 07:25 & 1.6 points at 15:32.

Did this start happening after you made a lot of profitable trades?

 

[x4x]

If they are so terrible, why do you continue to trade with them? How many trades do you make, and how much negative and positive slippage on each trade? You must be losing quite a lot of money in the way you keep complaining on this thread.

I'm complaining about slippage - I don't like it as I feel it occurs too often and at an unacceptable amount in normal market conditions.

I thought this thread was about our experiences of CMC's so called next gen platform - what would you rather I do, say how great it is when it isn't - why would you want me to do that?

 

[Truth Seeker]

I am quite sure Peter knows this slippage issue has to be solved. How they go about it I don't know, but I am confident something will be done. Also some needed platform features will come around very soon. I have no reason to doubt Peter and CMC, the competition demands that they take steps in the right direction. I understand the idea behind "precision pricing", and I like it, you get rid of the rejections and re-quote. I hope they find a good model for the slippage, if so trading with CMC might be very interesting in the near future.

You are so naive !

 

[Truth Seeker]

I'm complaining about slippage - I don't like it as I feel it occurs too often and at an unacceptable amount in normal market conditions.

I thought this thread was about our experiences of CMC's so called next gen platform - what would you rather I do, say how great it is when it isn't - why would you want me to do that?

Slippage occurs all the time, i would guess he has a program where he can pick and choose what slippage to implement at ease. And if you make too much money CMC close your account, and the fact that PC stated that doesn't happen just proves to me he's a liar and can't be trusted, as I have proof.
You will get no where fast on this site, most here are are noobs and wet behind the ears and don't actually trade the platform but feel they can comment on it, absolute morons.

 

[x4x]

Did this start happening after you made a lot of profitable trades?

I am consistently profitable on a day by day basis, but wouldn't say excessive slippage occurs after a good run. I think yesterday's 2.4 point slippage was my first trade of the day.