Best Thread CMC Markets owner answers your questions

[PC at CMC Markets]

Hi Donald
Yes it has been interesting and lively on here at times. But overall I enjoy the experience, it is good for me to engage with clients and potential clients and also a lot of the team here follow my postings and it keeps them in touch.
Very excited around here at the moment as we have some big launches coming up. In days rather than weeks. some spread bet up grades happening this weekend with next gen cfd launch happening the following weekend and then some more roll outs over the coming weeks.
lots of new things coming your way.
many thanks peter

Thanks i found it. Although it took a bit of time, cant believe you already have over 500 posts in just three months.. took me 3 years to get to that much, at this rate you going to Trade2win's highest poster

 

[gle101]

Hi Donald
Yes it has been interesting and lively on here at times. But overall I enjoy the experience, it is good for me to engage with clients and potential clients and also a lot of the team here follow my postings and it keeps them in touch.
Very excited around here at the moment as we have some big launches coming up. In days rather than weeks. some spread bet up grades happening this weekend with next gen cfd launch happening the following weekend and then some more roll outs over the coming weeks.
lots of new things coming your way.
many thanks peter

I am impressed in the way you hang on in there. The feedback must be very valuable to say the least.

Hopefully we will see you around for quite some time, although some of us might not agree with all that you through at us, but I can a sure you, that your contribution to this forum is highly appreciated.

 

[Ross Spur]

I am impressed in the way you hang on in there. The feedback must be very valuable to say the least.

Hopefully we will see you around for quite some time, although some of us might not agree with all that you through at us, but I can a sure you, that your contribution to this forum is highly appreciated.

I'd second that, but I still don't understand why you can't concede that next gen has plenty of features that should be changed, and that you're losing potential clients/business as a direct consequence.

 

[Trader1UK]

@PC CMC Peter,

I have afew questions, sorry if theyve already been answered, but im willing to possibly give next gen a try..

Do you allow scalping? What are your thoughts on clients scalping the markets via cmc next gen?

You mention no requotes, so does the trader get filled on the price he clicks, even if the price has moved say on a fast market?
What if by the time he has clicked his order ticket, and the order is filled but price has moved rapidly either way, whats happens in that situation? Does he still get filled on the price he has clicked?

Regarding your spreadbet and CFD next gen accounts, are prices, quotes, fills, execution the same on both spreadbet and cfd accounts, or are there slight variations?

Thanks

 

[gle101]

@PC CMC Peter,

I have afew questions, sorry if theyve already been answered, but im willing to possibly give next gen a try..

Do you allow scalping? What are your thoughts on clients scalping the markets via cmc next gen?

You mention no requotes, so does the trader get filled on the price he clicks, even if the price has moved say on a fast market?
What if by the time he has clicked his order ticket, and the order is filled but price has moved rapidly either way, whats happens in that situation? Does he still get filled on the price he has clicked?

Regarding your spreadbet and CFD next gen accounts, are prices, quotes, fills, execution the same on both spreadbet and cfd accounts, or are there slight variations?

Thanks

According to a post by Peter scalpers are welcome, even the screwed definition used by the SB companies, meaning scalpers who try to trade on a lagging price quote are also welcome to trade with CMC nextgen. I cannot imagine you will get filled if there is a network latency issue.

 

[Trader1UK]

According to a post by Peter scalpers are welcome, even the screwed definition used by the SB companies, meaning scalpers who try to trade on a lagging price quote are also welcome to trade with CMC nextgen. I cannot imagine you will get filled if there is a network latency issue.

Thanks gle101...

I also recall him saying scalpers are welcome, but like you said to what extent. Also if the nex gen platform has no requotes then wouldnt that mean that the trader gets filled on the price he clicked, or would it just not register with the platform and therefore the trader needing to click the ticket again to get the order he wants at the new price.

 

[gle101]

Thanks gle101...

I also recall him saying scalpers are welcome, but like you said to what extent. Also if the nex gen platform has no requotes then wouldnt that mean that the trader gets filled on the price he clicked, or would it just not register with the platform and therefore the trader needing to click the ticket again to get the order he wants at the new price.

This all depends on the internal deviation settings. They have some room to move within, so my guess is most of the trades will get filled. Maybe Peter will give a more clearer answer on this or even better a live trader, for which it doesn't seem to be many around, at least not many contributing to this thread.

 

[Black Swan]

Thanks gle101...

I also recall him saying scalpers are welcome, but like you said to what extent. Also if the nex gen platform has no requotes then wouldnt that mean that the trader gets filled on the price he clicked, or would it just not register with the platform and therefore the trader needing to click the ticket again to get the order he wants at the new price.

Do you mean true scalping; exploiting the inefficiencies in pricing versus the underlying market? Or do you mean the generally and widely held misconception of, for example, trading FX on 1-3 min TFs?

If it's the former why would any SB firm invite it? If it's the second 'method' its a mugs game on any SB platform.

 

[Ross Spur]

Do you mean true scalping; exploiting the inefficiencies in pricing versus the underlying market? Or do you mean the generally and widely held misconception of, for example, trading FX on 1-3 min TFs?

If it's the former why would any SB firm invite it? If it's the second 'method' its a mugs game on any SB platform.

The SB definitiion of a scalper is a client who makes lots of short-term trades and comes away with consistent profit. They're happy for you to sit there all day making hundreds of trades if you're losing.

 

[PC at CMC Markets]

Thank you gle101

I am impressed in the way you hang on in there. The feedback must be very valuable to say the least.

Hopefully we will see you around for quite some time, although some of us might not agree with all that you through at us, but I can a sure you, that your contribution to this forum is highly appreciated.

 

[PC at CMC Markets]

Hi Ross
because the stats do not back up your argument.
But thanks for your posting.
regards Peter

I'd second that, but I still don't understand why you can't concede that next gen has plenty of features that should be changed, and that you're losing potential clients/business as a direct consequence.

 

[PC at CMC Markets]

Hi Si55amg. are you a motor car by chance.

So to answer your questions.
All prices are generated electronically and executed electronically without dealer intervention. When you enter trade you enter it as market order or limit order. The orders that get entered as market orders are executed at the market price, the price we are quoting. remember it is all done electronically and there is no reading of clients positions.

dont know really what a scalper is, there are many definitions but if you are talking about high frequency traders yes they are welcome.

we dont have next gen cfds yet but when we do the same pricing and execution will apply. we are only days away now from next gen cfds. also watch out soon for spread bet upgrades. looking very sexy...


cheers pc

@PC CMC Peter,

I have afew questions, sorry if theyve already been answered, but im willing to possibly give next gen a try..

Do you allow scalping? What are your thoughts on clients scalping the markets via cmc next gen?

You mention no requotes, so does the trader get filled on the price he clicks, even if the price has moved say on a fast market?
What if by the time he has clicked his order ticket, and the order is filled but price has moved rapidly either way, whats happens in that situation? Does he still get filled on the price he has clicked?

Regarding your spreadbet and CFD next gen accounts, are prices, quotes, fills, execution the same on both spreadbet and cfd accounts, or are there slight variations?

Thanks

 

[gle101]

Thank you gle101

Yes, perhaps I will in the future have a love relationship with CMC nextgen platform, ha ha.

 

[Trader1UK]

Do you mean true scalping; exploiting the inefficiencies in pricing versus the underlying market? Or do you mean the generally and widely held misconception of, for example, trading FX on 1-3 min TFs?

If it's the former why would any SB firm invite it? If it's the second 'method' its a mugs game on any SB platform.

Blackswan,

Not exploiting price efficiencies v underlying market, but scalping and trading on say upto 5min TF and holding positions say for upto 5-10mins.

Some allow it, some dont... Depends if your comfortable playing like that.

 

[Trader1UK]

The SB definitiion of a scalper is a client who makes lots of short-term trades and comes away with consistent profit. They're happy for you to sit there all day making hundreds of trades if you're losing.

But what if you do finally start winning, what then? would they close you and tell you to run off?,,
PC???

 

[Trader1UK]

Hi Si55amg. are you a motor car by chance.

So to answer your questions.
All prices are generated electronically and executed electronically without dealer intervention. When you enter trade you enter it as market order or limit order. The orders that get entered as market orders are executed at the market price, the price we are quoting. remember it is all done electronically and there is no reading of clients positions.

dont know really what a scalper is, there are many definitions but if you are talking about high frequency traders yes they are welcome.

we dont have next gen cfds yet but when we do the same pricing and execution will apply. we are only days away now from next gen cfds. also watch out soon for spread bet upgrades. looking very sexy...


cheers pc

I wish i was a motor car on the days when the markets just simply screw you... lol.

Thanks for the clarification, Yes by scalpers i mean High frequency traders, Trading on smaller Timeframes and doing lots of trades regulary.

Like ross spur said, happy for clients to do that if theyre losing money, but what if someone is winning on a regular basis, would you close the account and tell him to move on or simply put him on dealer intervantion without anyone ever knowing

 

[tar]

I wish i was a motor car on the days when the markets just simply screw you... lol.

Thanks for the clarification, Yes by scalpers i mean High frequency traders, Trading on smaller Timeframes and doing lots of trades regulary.

Like ross spur said, happy for clients to do that if theyre losing money, but what if someone is winning on a regular basis, would you close the account and tell him to move on or simply put him on dealer intervantion without anyone ever knowing

u will know if your trades goes to a dealer ...

 

[PC at CMC Markets]

Hi gle101
It is only a matter of time. you will one day love us with all your heart. ha ha

Yes, perhaps I will in the future have a love relationship with CMC nextgen platform, ha ha.

 

[PC at CMC Markets]

si55amg
it doesnt matter to us if clients make money. we operate a flow model which is automated. In fact we prefer clients to make money because they stay with us longer. also if you look at next gen we have built in position protection with margin stop loss which is automatically generated every time you trade. This creates trade silos (you can switch it off if you want) protecting overall cash with margin stops for individual trades.
also with next gen cfds there will be additional safety features which you will have to wait and see. Coming soon now. counting down the days.

cheers pc

But what if you do finally start winning, what then? would they close you and tell you to run off?,,
PC???

 

[PC at CMC Markets]

Hi Tar

are you Ross in disguise.....

Told you the whole next gen process is automated no facility for dealer referral except if you deal on the telephone then a dealer will take your call but they cannot quote you a price, they have to quote the price on the system and enter the trade on the system. they cannot manipulate the price. even if they know you are a buyer (or seller) they cannot read you by extra pip because they have to enter the trade into the system and they cannot over ride the price on the next gen platform.

if you want to see it with you own eyes come around here and I will show you.

thanks pc

u will know if your trades goes to a dealer ...