Best Thread CMC Markets owner answers your questions

[PC at CMC Markets]

Hi Tar
You will have to ask t2w people because I have been out for last few hours and only read it on my blackberry. I didnt ask them to take it down.
nothing wrong with a good old rant now and again even after ten years

pc

why Truth's post was removed ?

 

[PC at CMC Markets]

Hi Truth seeker
seems this is not the first time you have had a post removed.
is it personal or technicality
pc

Removed again. I'm thinking that CMC and trade2win are in each others pockets, beware people.

 

[arabianights]

PC,

Couple of days ago this thread made me think i'll have another go with CMC, so I had a wee look in my market maker account and lo and behold there was £181 in it. Figure may as well do something with it...

So I go long USDJPY after all those stops with a guaranteed stop. A stop, incidentally, which was never hit. But your staff are trying to claim that they were reasonable to liquidate the trade at some random point there would have been less than £100 in the account!

This makes no sense whatsoever... there is no need at all to post any kind of margin when there is a guaranteed stop. The main POINT of one is to avoid using initial margin.

I'm continuing arguing about it so I'm confident they'll see sense and reinstate my position... but if not would you like to justify their position

 

[Ross Spur]

Hi Truth seeker
seems this is not the first time you have had a post removed.
is it personal or technicality
pc

It was rude, personal, completely unfair and OTT!

 

[PC at CMC Markets]

You alright Ross. You might need a lay down. ha ha

pc

It was rude, personal, completely unfair and OTT!

 

[Ross Spur]

PC,

Couple of days ago this thread made me think i'll have another go with CMC, so I had a wee look in my market maker account and lo and behold there was £181 in it. Figure may as well do something with it...

So I go long USDJPY after all those stops with a guaranteed stop. A stop, incidentally, which was never hit. But your staff are trying to claim that they were reasonable to liquidate the trade at some random point there would have been less than £100 in the account!

This makes no sense whatsoever... there is no need at all to post any kind of margin when there is a guaranteed stop. The main POINT of one is to avoid using initial margin.

I'm continuing arguing about it so I'm confident they'll see sense and reinstate my position... but if not would you like to justify their position

This has happened to me with other SBs. There's usually something buried in the T&Cs to justify it, so whether it makes sense or not doesn't really matter.

 

[PC at CMC Markets]

hi arabiannights.
so what you are saying is that even if you do not have required minimum margin you should be allowed to place a bet and so long as there is guaranteed stop loss then we should accept the bet. If that is the case why do we bother to have margins at all.
I may have misread the situation so please explain more and I will see what happened. If you want to send private email concerning your personal account that is fine.
tks

pc

PC,

Couple of days ago this thread made me think i'll have another go with CMC, so I had a wee look in my market maker account and lo and behold there was £181 in it. Figure may as well do something with it...

So I go long USDJPY after all those stops with a guaranteed stop. A stop, incidentally, which was never hit. But your staff are trying to claim that they were reasonable to liquidate the trade at some random point there would have been less than £100 in the account!

This makes no sense whatsoever... there is no need at all to post any kind of margin when there is a guaranteed stop. The main POINT of one is to avoid using initial margin.

I'm continuing arguing about it so I'm confident they'll see sense and reinstate my position... but if not would you like to justify their position

 

[PC at CMC Markets]

Hi Ross
It is not personal to any individual as a company we have to publish our terms and conditions and minimum margins etc. that is regulatory requirement.
Not trying to hide behind red tape but we have to have some rules.
tks pc

This has happened to me with other SBs. There's usually something buried in the T&Cs to justify it, so whether it makes sense or not doesn't really matter.

 

[Ross Spur]

You alright Ross. You might need a lay down. ha ha

pc

Ha, all my comments are fair, polite and completely justified.

 

[arabianights]

hi arabiannights.
so what you are saying is that even if you do not have required minimum margin you should be allowed to place a bet and so long as there is guaranteed stop loss then we should accept the bet. If that is the case why do we bother to have margins at all.
I may have misread the situation so please explain more and I will see what happened. If you want to send private email concerning your personal account that is fine.
tks

pc

If there's enough money to cover till the guaranteed stop, yes.

You bother to have margins to ensure that clients can pay for worst case scenarios. I had enough money in the account to cover the worst case scenario. Simple.

 

[donaldduke]

If there's enough money to cover till the guaranteed stop, yes.

Im pretty sure IG Index do it this way. But they are the best spread bet firm init.

With IG when you take a position with a guaranteed stop, the maximum guaranteed loss money (your max risk) is allocated to that position from your available funds, if you move the stop further out, more money is required, but if you move it in this will free up some of that money. You dont get margin called on garanteed stop loss positions.

 

[tar]

100 pound balance is the liquidation level for Marketmaker accounts , have been for years .

 

[arabianights]

100 pound balance is the liquidation level for Marketmaker accounts , have been for years .

That is very poor design then... does the new system behave like that?

 

[tar]

not sure ? Peter ?

 

[PC at CMC Markets]

normal rules are that you get liquidated when you are down to your last £100. margin calls are made when you move into negative equity.
also you have to have in excess of 20 percent of the margin requirement otherwise you may get liquidated.

However, you do raise a good point in that if you have small amount and you want to place guaranteed stop loss then why not do the deal. I guess this is called a structured spread bet and something I will ask the team to look into.

tks pc

not sure ? Peter ?

 

[arabianights]

Yes, I am not going to waste anyone's time if it says somewhere that this is what will happen... my fault for not noticing it (assuming it's clear)

Maybe you can email "Ollie" and ask him to reinstate the bet for bringing the issue to your attention as it is rather counter intuitive

 

[PC at CMC Markets]

Would love to reinstate the bet but then I would get bombarded for requests. ha ha

good weekend
pc

Yes, I am not going to waste anyone's time if it says somewhere that this is what will happen... my fault for not noticing it (assuming it's clear)

Maybe you can email "Ollie" and ask him to reinstate the bet for bringing the issue to your attention

 

[PC at CMC Markets]

By the way I see no body has commented on our next gen cfd launch in Germany. Thought you would have been all over it seeing there are all these new features.

 

[arabianights]

Would love to reinstate the bet but then I would get bombarded for requests. ha ha

good weekend
pc

oh you don't have to tell anyone...

 

[tar]

normal rules are that you get liquidated when you are down to your last £100. margin calls are made when you move into negative equity.
also you have to have in excess of 20 percent of the margin requirement otherwise you may get liquidated.

However, you do raise a good point in that if you have small amount and you want to place guaranteed stop loss then why not do the deal. I guess this is called a structured spread bet and something I will ask the team to look into.

tks pc

Is this the case with next gen as well ? 100 pound liquidation level ...