CMC Markets Old platform users beware

[Black Swan]

Really I am football fan but I do get interested in the cricket once it gets going especially if England are doing well.

Have you got involved in footy then Peter? I'm a level 2 coach, set up a club in my local area, went from 5 kids to 200 in 10 years. Love Arsenal to win the league given the football they play, don't think they ever replaced Vieira though tbh...Wenger should pay £20ml for Jack Rodwell of Everton, he's exactly what they need in the middle of the park..

 

[PC at CMC Markets]

HI Black Swan.
Decided to put my spare cash into charity rather than footballers pockets and have loved every minute of that. However, I love to watch Arsenal and I agree if we bought Rodwell would be good for us. I still think we have a chance of premier league this season it is so unpredictable.

Your coaching hobby sounds amazing getting 200 kids to play footie. well done. It is nice to give something back.

still bloody freezing out there, was hoping to hit a golf ball the weekend but too cold for me. I am sunshine golfer.

have a good day cheers pc

Have you got involved in footy then Peter? I'm a level 2 coach, set up a club in my local area, went from 5 kids to 200 in 10 years. Love Arsenal to win the league given the football they play, don't think they ever replaced Vieira though tbh...Wenger should pay £20ml for Jack Rodwell of Everton, he's exactly what they need in the middle of the park..

 

[fibbinstarchi]

When are Black Swan and Peter from PC at CMC Markets hooking up? Black Swan will become Brown Swan if he carries on brown nosing.

IMHO: Regarding the new platform, I will keep a eye from time to time, but I'm old skool, I traded with your company when it was Deal4Free and had a nightmare with dodgy fills, held tickets, requotes, slippage, Barrow boy dealers, the lot.
I commend you for going on here in person, but I feel it's through necessity rather than kindness. After all, I've never seen you on here or any other website bb when traders were having to experience the underhand tactics experienced before the name change to CMC Markets.
I think it's because your company were hit in the pocket. I really do hope you have got your act together, because as you know, if you haven't, traders will walk and report their findings all over the net like last time.

 

[Black Swan]

When are Black Swan and Peter from PC at CMC Markets hooking up? Black Swan will become Brown Swan if he carries on brown nosing.

I've no axe to grind given I'm consistently profitable, mind you even early days I never blamed others (brokers or SB firms) for my losses.. perhaps there's a lesson in there for you..

 

[PC at CMC Markets]

Good morning Fibb

deal4free was years ago when we launched cfd trading to retail markets. Dropped that name over five years ago where have you been.

Have to say I wished I had blogged long time ago I really enjoy it and I am happy to continue to do so to assist where I can.

Not sure why you have to make personal comments on this blog. I thought it was for constructive comments and to resolve issues. However, as you point out I am new to blogs so maybe I do not understand the rules but I think we should keep comments professional.
have a nice day :cheesy:
regards Peter

When are Black Swan and Peter from PC at CMC Markets hooking up? Black Swan will become Brown Swan if he carries on brown nosing.

IMHO: Regarding the new platform, I will keep a eye from time to time, but I'm old skool, I traded with your company when it was Deal4Free and had a nightmare with dodgy fills, held tickets, requotes, slippage, Barrow boy dealers, the lot.
I commend you for going on here in person, but I feel it's through necessity rather than kindness. After all, I've never seen you on here or any other website bb when traders were having to experience the underhand tactics experienced before the name change to CMC Markets.
I think it's because your company were hit in the pocket. I really do hope you have got your act together, because as you know, if you haven't, traders will walk and report their findings all over the net like last time.

 

[PC at CMC Markets]

good mornning Black Swan
Big day today regarding 2018 world cup hopefully we will win. fingers crossed.
regards Peter

I've no axe to grind given I'm consistently profitable, mind you even early days I never blamed others (brokers or SB firms) for my losses.. perhaps there's a lesson in there for you..

 

[Ross Spur]

Why would anyone not blame a broker or SB for a loss directly resulting from a bad fill, delay, slippage, platform crash, etc? It's hard to believe that anyone who used Deal4Free and CMC didn't suffer at least some of the problems mentioned by fibbinstarchi. Something went wrong within about five trades every time I tried them. In the early days there wasn't much opposition, but better service and spreads have been available elsewhere for years.
I'm not convinced by the new platform in demo form, and still can't understand why I'd need to sign up as a new client to try the live version.

 

[PC at CMC Markets]

Good morning wager. hope you are well. Please find below explanation regarding bet financing. I have tried to keep it simple. Let me know if you need more assistance and will try to expand.

Bet Financing Costs are only incurred if the bet is carried overnight.

There are two charges (or credit in some cases) that apply to the open bet to carry it forward to the next day.

There is a Bet Borrowing cost which is applied to the unfunded portion of the bet (value of open position minus your cash balance) the amounts are netted off to reduce overnight financing costs to the client.

And there is the Bet Holding Cost which is equivalent to the cost of carry (or credit) and is applied to the total notional value of the trade. E.g. dividends, cost of carriage on commodities etc.

The total Bet Financing cost is the total of the two combined.

The Rates for Bet Borrowing is plus/minus 1% of overnight funding rate. Overnight funding rates vary day to day. Bet Borrowing costs are applied to Indices, shares and Commodities that are held overnight and only applied to the unfunded portion (Notional less Margin).

The Rates for Forex is Tom Next rate plus a maximum spread of up to plus 2 minus 2 percent.

The rate for Bet Holding Costs on Commodities is the present value rate derived from the aggregate weighted futures price. For shares and Indices Bet Holding costs do not apply instead Price Adjustments are applied when there is a price movement associated with a corporate action or dividend declaration.

I have tried to explain it as clearly as I can bearing in mind we are talking about betting and not the purchase or sale of financial products like physical shares etc.

Hope that helps, if not let me know and I will try to expand or you are welcome to come to our offices and we can go over the details to assist you.

Many thanks Peter

Could someone please enlighten me about the financing costs for holding overnight positions with cmc spread betting?

I thought the usual basis was roughly;
Libor + or - 3% / 365

However section 9 of the spread betting terms and conditions says (right at the end of 18 pages of small print – why is this vital information not made more visible!?);

''9. Financing
Applying Financing
9.1 In respect of each Bet that remains open at the end of a Business Day, the Bet Financing Cost will be calculated at the end of each day at 00:00 GMT/01:00 BST. The Bet Financing Cost comprises two components: (a) Bet Borrowing Cost and (b) Bet Holding Cost.''
...It goes on to give the formulae for Bet Borrowing Cost and Bet Holding costs, which to be honest I had no idea how to calculate :/

E.g. Bet Holding costs =
(Stake x Point Multiplier x Opening Bet Price x FX Conversion Rate x Holding Rate Long or Holding Rate Short(as applicable) x number of Business Days) / number of days in the current calendar year.

I've searched everywhere on the cmc website and Google, but still can not find what exactly are these rates?

 

[Black Swan]

good mornning Black Swan
Big day today regarding 2018 world cup hopefully we will win. fingers crossed.
regards Peter

Hmmm...in two minds tbh, you know the phrase "bread and circuses" used by Juvenal when Rome had a decaying empire? Well Olympics, followed by W.Cup..

Not too happy re the prices for the 2010 Olympics and given that the WC ticketing prices would be corporates first, us plebs second then the chances of 'Dads and lads' getting to games at reasonable prices would be remote.

Also it wouldn't surprise me if Blatter issued a reprimand to the England entourage in all it's manifestations either, the mob lobbying has been pathetic quite frankly and cosying up to the odious Walker is abhorrent.

If England are offering no corporation tax for the event as a bribe to FIFA that's equally disgraceful..

Russia should get it.

 

[PC at CMC Markets]

Hi Ross
many thanks for your comments.
The other day I down loaded apple software and I had to agree to their new terms.
I was only upgrading the software I already had not down loading new software and working on a new system. But I still had to sign new terms.

When you sign up to next gen platform you are requested to sign new terms because it is different platform and it is technically different to the old platform. of course you are still an old valued client but if we change the system you have to acknowledge that and sign up to new platform.

If you trade on our next gen spread bet platform a lot of the products have improved spreads. We can offer a better service on next gen because of the upgraded software and this has increased efficiency and execution. Depending on what you trade you could be saving money by trading on next gen.

thanks Peter

The

Why would anyone not blame a broker or SB for a loss directly resulting from a bad fill, delay, slippage, platform crash, etc? It's hard to believe that anyone who used Deal4Free and CMC didn't suffer at least some of the problems mentioned by fibbinstarchi. Something went wrong within about five trades every time I tried them. In the early days there wasn't much opposition, but better service and spreads have been available elsewhere for years.
I'm not convinced by the new platform in demo form, and still can't understand why I'd need to sign up as a new client to try the live version.

 

[PC at CMC Markets]

Hi Black Swan
No comment really but have to say the whole thing feels a bit unsavoury.
Anyway today is big day and lets see what happens.
have a good day
pc

Hmmm...in two minds tbh, you know the phrase "bread and circuses" used by Juvenal when Rome had a decaying empire? Well Olympics, followed by W.Cup..

Not too happy re the prices for the 2010 Olympics and given that the WC ticketing prices would be corporates first, us plebs second then the chances of 'Dads and lads' getting to games at reasonable prices would be remote.

Also it wouldn't surprise me if Blatter issued a reprimand to the England entourage in all it's manifestations either, the mob lobbying has been pathetic quite frankly and cosying up to the odious Walker is abhorrent.

If England are offering no corporation tax for the event as a bribe to FIFA that's equally disgraceful..

Russia should get it.

 

[tar]

Not sure why you have to make personal comments on this blog. I thought it was for constructive comments and to resolve issues. However, as you point out I am new to blogs so maybe I do not understand the rules but I think we should keep comments professional.
have a nice day :cheesy:
regards Peter

Peter , if u want to comment on every reply u will not finish in years !

Regards

 

[fibbinstarchi]

Good morning Fibb

deal4free was years ago when we launched cfd trading to retail markets. Dropped that name over five years ago where have you been.

Have to say I wished I had blogged long time ago I really enjoy it and I am happy to continue to do so to assist where I can.

Not sure why you have to make personal comments on this blog. I thought it was for constructive comments and to resolve issues. However, as you point out I am new to blogs so maybe I do not understand the rules but I think we should keep comments professional.
have a nice day :cheesy:
regards Peter

Where have I been in the past five years? Making money trading with better spreadbet firms who didn't play the underhand tactics your company was well known for, after all, that's why your company got the nickname Steal4Free. That's probably why you went with the name change of CMC Markets, so I would lose the smugness.
Again, hopefully the new platform brings in new practicing ways and you won't do things like cancel £200 per pip trades on FX when a trader is in profit and use the excuse used would be you think they work for a Bank. Some of us old skool traders don't forget.
All IMHO.

 

[PC at CMC Markets]

Hi Tar
think you are right probably bit too keen but want to help where I can.
tks Peter

Peter , if u want to comment on every reply u will not finish in years !

Regards

 

[PC at CMC Markets]

Hi Fibb

Congratulations on your trading and seems there is nothing I can say to you to convince you about our new platform. All I can do is wish you good luck with your trading and your new sb provider.
tks PC

Where have I been in the past five years? Making money trading with better spreadbet firms who didn't play the underhand tactics your company was well known for, after all, that's why your company got the nickname Steal4Free. That's probably why you went with the name change of CMC Markets, so I would lose the smugness.
Again, hopefully the new platform brings in new practicing ways and you won't do things like cancel £200 per pip trades on FX when a trader is in profit and use the excuse used would be you think they work for a Bank. Some of us old skool traders don't forget.
All IMHO.

 

[Ross Spur]

Hi Ross
many thanks for your comments.
The other day I down loaded apple software and I had to agree to their new terms.
I was only upgrading the software I already had not down loading new software and working on a new system. But I still had to sign new terms.

When you sign up to next gen platform you are requested to sign new terms because it is different platform and it is technically different to the old platform. of course you are still an old valued client but if we change the system you have to acknowledge that and sign up to new platform.

If you trade on our next gen spread bet platform a lot of the products have improved spreads. We can offer a better service on next gen because of the upgraded software and this has increased efficiency and execution. Depending on what you trade you could be saving money by trading on next gen.

thanks Peter

The

Yes, I can see that clients might have to click to accept new T&Cs, just as happened with all SBs a year or two back, but why should we have to pretend we're different people unless CMC is a different company now?

 

[PC at CMC Markets]

Hi Ross
In some cases existing clients have moved or changed their details and so we have to verify everything again to make sure that it all ties up. We have been surprised by the number of changes to our existing client details that they have not told us about. In some cases clients have moved and not informed us because we do not send paper statements so they didn't feel the need to change anything.
Probably that is where the confusion is. When we ask you to sign new terms we have to at the same time verify if your details have changed.
This is not intended to make you feel like a new client but if you are signing new terms we are taking the opportunity to ensure all of your details are up to date. This is a compliance request at the same time as signing new terms.
Hope that is helpful. Thanks for taking the time to blog.
regards pc

Yes, I can see that clients might have to click to accept new T&Cs, just as happened with all SBs a year or two back, but why should we have to pretend we're different people unless CMC is a different company now?

 

[PC at CMC Markets]

Oh well Black Swan, World cup goes to Russia and that is it till 2030.
Not surprised really, just surprised we put so much effort in when it is clear
FIFA do not like us. Blatter even said the game originated in china.
worth the dream for a few days i suppose.

terrific couple of days on the stock markets really seen some good volumes and movements. next gen holding up really well, hitting new records.
cheers pc

Hmmm...in two minds tbh, you know the phrase "bread and circuses" used by Juvenal when Rome had a decaying empire? Well Olympics, followed by W.Cup..

Not too happy re the prices for the 2010 Olympics and given that the WC ticketing prices would be corporates first, us plebs second then the chances of 'Dads and lads' getting to games at reasonable prices would be remote.

Also it wouldn't surprise me if Blatter issued a reprimand to the England entourage in all it's manifestations either, the mob lobbying has been pathetic quite frankly and cosying up to the odious Walker is abhorrent.

If England are offering no corporation tax for the event as a bribe to FIFA that's equally disgraceful..

Russia should get it.

 

[Black Swan]

Oh well Black Swan, World cup goes to Russia and that is it till 2030.
Not surprised really, just surprised we put so much effort in when it is clear
FIFA do not like us. Blatter even said the game originated in china.
worth the dream for a few days i suppose.

terrific couple of days on the stock markets really seen some good volumes and movements. next gen holding up really well, hitting new records.
cheers pc

Yep, right decision IMO...not sure re. Qatar but got to admire FIFA for giving them the chance. Team England ballsed it up from day one, should have been a British bid; point of difference and a home championship to decide which 2 were home hosts/entrants then the other 3 to attempt to qualify through normal routes.

Reckon that late mob lobbying got on right on FIFA's tits; Beckham looking like a right scruff but no-one will cross his vanity, some Eton toff who's probably never kicked a ball and another Eton toff who reckons he's always loved football...3 lions? 3 chumps more like..And the waste of 15-20ml on puff and air when I couldn't get 300K to build a facility in my local area from the supposed grass-roots initiative actually epitomises what's wrong with the FA and how we try and *fix* things in 'corporate' UK

Oh and Blatter is correct, the first discovery of football was in China, perhaps he's hinting at that's were they'll be lobbying for it to go in 2030, and a great choice it'd be.

 

[PC at CMC Markets]

Hi Black swan
Didnt realise it was such a sensitive issue with you but I can understand the reasons why if you ask for a bit of help for the local kids and they just put two fingers up to you.
The only issue I have is that the process seems to be corrupt whereby votes can be bought and sold and there is a lot of horse trading. The decision should be based on the right reasons for football and the countries involved not because you can influence some body individually to vote for you.

that said and done what does it matter really. I always watch it on the box any way. I go to Arsenal occasionally and love it but only couple of times a year.
I was invited to Tottenham once but when I got there I realised the sits were all facing the pitch so I left ha ha

have a good weekend
regards Peter

Yep, right decision IMO...not sure re. Qatar but got to admire FIFA for giving them the chance. Team England ballsed it up from day one, should have been a British bid; point of difference and a home championship to decide which 2 were home hosts/entrants then the other 3 to attempt to qualify through normal routes.

Reckon that late mob lobbying got on right on FIFA's tits; Beckham looking like a right scruff but no-one will cross his vanity, some Eton toff who's probably never kicked a ball and another Eton toff who reckons he's always loved football...3 lions? 3 chumps more like..And the waste of 15-20ml on puff and air when I couldn't get 300K to build a facility in my local area from the supposed grass-roots initiative actually epitomises what's wrong with the FA and how we try and *fix* things in 'corporate' UK

Oh and Blatter is correct, the first discovery of football was in China, perhaps he's hinting at that's were they'll be lobbying for it to go in 2030, and a great choice it'd be.