Best Thread CMC Markets owner answers your questions

[Truth Seeker]

Will do gle101, I have to say, so far I'm really impressed and as I've said before, I actually feel like I can trust CMC. Which in the past is hard to say about a SB company in my opinion!!

Don't trust any broker when they they gain from your losses, you have to be smarter than that. No disrespect to Peter, but he runs a business and his business and profits come before anything else.
The least problems I experience (and ever have) are from my futures account where I pay com on every trade, as my broker doesn't gain from my losses, they gain from keeping me trading for longer resulting in no requotes and hardly any slippage at all, stops hit on the mark etc, as it should be.

 

[PC at CMC Markets]

you are welcome

Cheers Peter, very kind of you. I will be sure to take you up on that offer in the near future.

 

[Truth Seeker]

Peter

When are you going to reduce the Natural Gas and Crude Oil spreads from 20 down to 2 points like many futures accounts?

 

[PC at CMC Markets]

hi gle101,

we love the volatility because we think it distinguishes us from the competition. we have built a high frequency execution engine that performs very well during volatile times.

tks pc

Thanks, a little bit early yet, but a good start if some more traders would post and confirm. I agree the volatility is incredible, many SB companies is not to happy about that, doesn't hurt CMC next-gen, what do you say Peter?

 

[PC at CMC Markets]

will you trade with us if we reduce them
also dont forget that our spread bet spreads include the commissions built in.
pc

Peter

When are you going to reduce the Natural Gas and Crude Oil spreads from 20 down to 2 points like many futures accounts?

 

[PC at CMC Markets]

hi truth seeker,

yes only problem is latency on the line, that is when you send an order and when we send it back to you but generally there is not a latency problem.
it might occur more on say the iphone if you lose signal or signal is weak.

I will have to check with i.t whether we can let you have the i.p address so you can ping the line, I suspect not because it might interfere with the trading lines but will let you know

tks pc

Hi Peter

So the only reason some orders would be through latency issues? Can you share the CMC IP address so we can ping it to see what the latency reading is then?

 

[PC at CMC Markets]

hi truth seeker,

I do not agree with you.
Firstly we have so much business that we can afford to give a lot back to clients to help them.
for example,
tight spreads,
margin stop losses,
free charting,
free news,
free education,
automated execution,
no requotes.

Frequently if you measure say our forex spreads against what we get from our banks especially during volatile times, we give our clients a better spread. we can have five bank feeds of prices, some of the bank price feeds will be worst than the spreads we give our clients. you have got to stop thinking that the whole spread bet industry is against clients.
If you look at the competition, the facilities that spread betters can now get completely free of charge it is not all about ripping into the client.
on top of that profits are free of cgt (subject to tax status). there is no stamp duty on shares and you have free real time back office and 24 hour support.

the spread bet industry as a whole serves it's client base very well.
It is not easy trying to give clients a great service during volatile times, most of the spread bet companies work hard to deliver a top service. all in all I think the service from us and most of our competitors is excellent. of course I think we offer the best service but at the end of the day it is down to clients to judge us and the industry.

tks pc

Don't trust any broker when they they gain from your losses, you have to be smarter than that. No disrespect to Peter, but he runs a business and his business and profits come before anything else.
The least problems I experience (and ever have) are from my futures account where I pay com on every trade, as my broker doesn't gain from my losses, they gain from keeping me trading for longer resulting in no requotes and hardly any slippage at all, stops hit on the mark etc, as it should be.

 

[Ross Spur]

why dont you come to our next traders club on 23rd September, I will buy you coffee and supply egg sandwich all free.

I hope they're quails' eggs.

 

[PC at CMC Markets]

hi Mr Truth,

Our typical spreads are which includes exchange commissions.

USCRUDE 0.04
UKCRUDE 0.04
NATGAS 0.02
For reference the underlying futures contract typical spreads are

USCRUDE 0.022
UKCRUDE 0.041
NATGAS 0.0024

I have asked the dealers to look at Nat Gas to see if we can improve.

tks pc

Peter

When are you going to reduce the Natural Gas and Crude Oil spreads from 20 down to 2 points like many futures accounts?

 

[PC at CMC Markets]

no good old fashioned boiled egg sandwiches with cress.
but for you Ross it will be smoked salmon and caviar.

pc

I hope they're quails' eggs.

 

[x4x]

Hi Peter,

Anything to be concerned about do you think....?

http://www.reuters.com/article/2011...-transaction-tax-london-idUSTRE77M39H20110823

 

[BigInTheCity]

Like it says in the article, it will have exactly the opposite effect on what they are trying to achieve!

Idiots!!!

 

[Truth Seeker]

hi Mr Truth,

Our typical spreads are which includes exchange commissions.

USCRUDE 0.04
UKCRUDE 0.04
NATGAS 0.02
For reference the underlying futures contract typical spreads are

USCRUDE 0.022
UKCRUDE 0.041
NATGAS 0.0024

I have asked the dealers to look at Nat Gas to see if we can improve.

tks pc

Peter

My mistake, Crude Oil Brent is 0.04 which equates to 40 spread, and Natural Gas is 0.02 which equates 20. As you can see compared to 2 points spread with most futures brokers (+tiny $ commision at any volume) these spreads are very wide and untradable. Reduce them to 2 points 4 at the most and of course I will trade them with you and not the futures if you fill me as good as them. BTW so far your platform is beating Prospreads with trading the FX on account balance increase as I'm trading both side by side. I report positive and negative.

 

[Ross Spur]

Peter

My mistake, Crude Oil Brent is 0.04 which equates to 40 spread, and Natural Gas is 0.02 which equates 20. As you can see compared to 2 points spread with most futures brokers (+tiny $ commision at any volume) these spreads are very wide and untradable. Reduce them to 2 points 4 at the most and of course I will trade them with you and not the futures if you fill me as good as them. BTW so far your platform is beating Prospreads with trading the FX on account balance increase as I'm trading both side by side. I report positive and negative.

Have you got your decimal points in the right place?

 

[Truth Seeker]

Have you got your decimal points in the right place?

Open up a ticket for both Ross. Oil 0.040 Nat Gas 0.020, if you look, it can go wider too, just seeing movements between 0.040/0.043 for Brent Oil.

 

[PC at CMC Markets]

hi 4x4,
cannot see it happening. it would hit the city too hard disproportionately to european centres.
pc

Hi Peter,

Anything to be concerned about do you think....?

http://www.reuters.com/article/2011...-transaction-tax-london-idUSTRE77M39H20110823

 

[PC at CMC Markets]

hi truth seeker,
crude and brent are in line with markets
but nat gas looks a bit wide. getting the traders to look at the spread.

what do you mean about account balance increases. are you saying our spreads and execution are better than pro spreads.
tks pc

Peter

My mistake, Crude Oil Brent is 0.04 which equates to 40 spread, and Natural Gas is 0.02 which equates 20. As you can see compared to 2 points spread with most futures brokers (+tiny $ commision at any volume) these spreads are very wide and untradable. Reduce them to 2 points 4 at the most and of course I will trade them with you and not the futures if you fill me as good as them. BTW so far your platform is beating Prospreads with trading the FX on account balance increase as I'm trading both side by side. I report positive and negative.

 

[PC at CMC Markets]

hi truth seeker,
I think you are making mistake.
I just opened my demo account and credut is 4pips not 40 points wide and
nat gas is 2 points wide.

pc

Peter

My mistake, Crude Oil Brent is 0.04 which equates to 40 spread, and Natural Gas is 0.02 which equates 20. As you can see compared to 2 points spread with most futures brokers (+tiny $ commision at any volume) these spreads are very wide and untradable. Reduce them to 2 points 4 at the most and of course I will trade them with you and not the futures if you fill me as good as them. BTW so far your platform is beating Prospreads with trading the FX on account balance increase as I'm trading both side by side. I report positive and negative.

 

[Truth Seeker]

hi truth seeker,
crude and brent are in line with markets
but nat gas looks a bit wide. getting the traders to look at the spread.

what do you mean about account balance increases. are you saying our spreads and execution are better than pro spreads.
tks pc

Hi Peter

I'm trading your platform and Prospreads at the same time together comparing - execution/spreads/slippage/overall trading profits (the good stuff). So far sometimes you are filling faster (not often) than Pro spreads but to be fair they are beating you mostly at the post with the speed of fills, BUT as they have wider spreads, your platform is coming out ahead on the profits, now if you could speed the fills even more you would thrash them, but so far you are ahead 4.2% for the week (account balance increase).
I think it's a combination of functionality of platform, tighter spreads which you have 0.9pips compared to Pro Spreads 1 pip spread + 1 pip either side for mini (equates to 3 pips) and 0.8 either side for full spot (equates to 2.6) unless you do a lot of trading then it's reduced to 1 pip then 0.5 either side equating to 2 pip spread.

Re the Crude and Gas spread, maybe I'm confused with the decimal points? Ok, if that's the case and they are 4 and 2 points spread that's great.

 

[PC at CMC Markets]

hi truth seeker

Thanks for the feed back. In fact we plan to speed up execution times very soon. just making some final adjustments. To be honest technically it is not too challenging for us to do this and we plan to do it very soon.

Glad to see you are giving us a fair chance. we are working very hard on our platform and lots more good stuff to come.

did you see my posting regarding crude and gas spreads.

tks pc

Hi Peter

I'm trading your platform and Prospreads at the same time together comparing - execution/spreads/slippage/overall trading profits (the good stuff). So far sometimes you are filling faster (not often) than Pro spreads but to be fair they are beating you mostly at the post with the speed of fills, BUT as they have wider spreads, your platform is coming out ahead on the profits, now if you could speed the fills even more you would thrash them, but so far you are ahead 4.2% for the week (account balance increase).
I think it's a combination of functionality of platform, tighter spreads which you have 0.9pips compared to Pro Spreads 1 pip spread + 1 pip either side for mini (equates to 3 pips) and 0.8 either side for full spot (equates to 2.6) unless you do a lot of trading then it's reduced to 1 pip then 0.5 either side equating to 2 pip spread.

Re the Crude and Gas spread, maybe I'm confused with the decimal points? Ok, if that's the case and they are 4 and 2 points spread that's great.