Best Thread CMC Markets owner answers your questions

[nigelpm]

Hi Mike.
Eventually marketmaker will be phased out and we have begun that process on uk spread bet platform now. bit by bit all spread bet business will be on next gen. I dont think we will phase out any more products on market maker before we close it down. not sure when we are going to close it down exactly but we are talking months not days or weeks. The will be blackberry application but it is not in build yet. we are concerning on iphone and ipad releases.

thanks peter

Why?

Android is becoming the biggest web mobile platform. I think you are seriously missing a trick here.

 

[Mike_trade]

Will the Blackberry application be ready for the new platform before MarketMaker has been closed? If not, I guess I can't use CMC except on the internet? Unfortunately the website is blocked at my work.

Thanks

Mike

Hi Mike.
Eventually marketmaker will be phased out and we have begun that process on uk spread bet platform now. bit by bit all spread bet business will be on next gen. I dont think we will phase out any more products on market maker before we close it down. not sure when we are going to close it down exactly but we are talking months not days or weeks. The will be blackberry application but it is not in build yet. we are concerning on iphone and ipad releases.

thanks peter

 

[PC at CMC Markets]

Hi Mike
no sorry. you can always get an ipad or iphone or a tablet that runs flash flex our desk top version
peter

Will the Blackberry application be ready for the new platform before MarketMaker has been closed? If not, I guess I can't use CMC except on the internet? Unfortunately the website is blocked at my work.

Thanks

Mike

 

[PC at CMC Markets]

Hi Ross.
Statistically speaking you are in the minority on that one.
Peter

What's the logic in closing down MM when so many people have come on here and said they don't like next gen and won't use it? Gunshot wounds to the foot tend to be messy.

 

[Ross Spur]

Hi Ross.
Statistically speaking you are in the minority on that one.
Peter

Hi PC
Hmm. Not based on evidence seen on T2W. How about a poll?

 

[PC at CMC Markets]

Hi Ross. #
Cannot run a business based on t2w stats have to run it based on the wider client consensus. As I say the stats speak for themselves. Germany is going very well with our new cfd next gen platform.

thanks Peter

Hi PC
Hmm. Not based on evidence seen on T2W. How about a poll?

 

[Ross Spur]

Hi Ross. #
Cannot run a business based on t2w stats have to run it based on the wider client consensus. As I say the stats speak for themselves. Germany is going very well with our new cfd next gen platform.

thanks Peter

Surely you do have to take some notice of clients who are about to become ex-clients? Don't know about German CFDs, but I can't see how T2W people would be unrepresentative of spreadbetting punters.

 

[nigelpm]

Hi Mike
no sorry. you can always get an ipad or iphone or a tablet that runs flash flex our desk top version
peter

I'm afraid this is a very "arrogant" attitude.

It is clear from this thread that your core users are not wanting to go out and buy crappy "ipads" or "iphones" to continue using your software.

I'm afraid if you don't sit up and take notice your user base will shrink.

 

[pineappleman]

Peter

Ever thought about just ditching the Next Gen and going with MT4 or even MT5?

Also, you stated that Next Gen has been programmed in such a way that it CANNOT requote. Is this a 100% guarantee? The price I click my mouse button on will be honoured, instantly, with no arguments, even in fast market action?

What about dealer intervention? If I was making money from your company month on month do you promise I would not be put on dealer intervention?

What if mystical orders I never opened suddenly appeared on my account like they have back in the day of my old MarketMaker CMC spreadbetting account? You must know what I'm talking about Peter, you wont admit it in public but you MUST know of the cheating tactics CMC have pulled over the years to take money back from winning clients.

OK, that was a long time ago and you guys must have moved on from there to some degree else the competition in this ever-growing industry would have killed you off already, but would your staff reimburse these losses from phantom orders or tell me I'm lying like they used to?

It's a hard game, this trading, as you know Peter; you know it's easier to make millions being the shovel seller and not a gold rush digger, like us punters. Fair enough it's a free country. But if I manage to "beat" the market I haven't got the strength to beat the bookie. There is simply too much negativity towards CMC spreadbetting (not sure about FX and CFDs) for it to all be nonsense, and I have first hand experience of it.

I guess what I'm asking, Peter, is have you guys cleaned up your act? How can you prove it?

 

[scose-no-doubt]

Hi Mike
no sorry. you can always get an ipad or iphone or a tablet that runs flash flex our desk top version
peter

I'm afraid this is a very "arrogant" attitude.

It is clear from this thread that your core users are not wanting to go out and buy crappy "ipads" or "iphones" to continue using your software.

I'm afraid if you don't sit up and take notice your user base will shrink.

why do you think he's p1ssing off to france and germany? this guy is smart.

 

[Ross Spur]

Peter

Ever thought about just ditching the Next Gen and going with MT4 or even MT5?

Also, you stated that Next Gen has been programmed in such a way that it CANNOT requote. Is this a 100% guarantee? The price I click my mouse button on will be honoured, instantly, with no arguments, even in fast market action?

What about dealer intervention? If I was making money from your company month on month do you promise I would not be put on dealer intervention?

What if mystical orders I never opened suddenly appeared on my account like they have back in the day of my old MarketMaker CMC spreadbetting account? You must know what I'm talking about Peter, you wont admit it in public but you MUST know of the cheating tactics CMC have pulled over the years to take money back from winning clients.

OK, that was a long time ago and you guys must have moved on from there to some degree else the competition in this ever-growing industry would have killed you off already, but would your staff reimburse these losses from phantom orders or tell me I'm lying like they used to?

It's a hard game, this trading, as you know Peter; you know it's easier to make millions being the shovel seller and not a gold rush digger, like us punters. Fair enough it's a free country. But if I manage to "beat" the market I haven't got the strength to beat the bookie. There is simply too much negativity towards CMC spreadbetting (not sure about FX and CFDs) for it to all be nonsense, and I have first hand experience of it.

I guess what I'm asking, Peter, is have you guys cleaned up your act? How can you prove it?

The idea is that next gen is fully automatic, there are no dealers to intervene, CMC hedge everything and just make money on the spread. It follows that the more clients trade, the more CMC makes, so the ideal customer will be someone who rakes in as much profit as possible from the greatest possible number of trades.
Soungs marvellous, but can it really work like that? For a start, how is slippage handled, because this is always artificial on a SB platform?

 

[geewcee]

Slippage is slightly worse now than it was on the old market maker platform. Not enough for it to be a major problem but the slippage is always in the next gens favour.

 

[Black Swan]

Slippage is slightly worse now than it was on the old market maker platform. Not enough for it to be a major problem but the slippage is always in the next gens favour.

What margin of error, and are you talking FX, indices, during fast moving markets, are you swing trading or looking for quick profits off lower TFs or tick charts, got any examples/screenshots? TIA..

 

[geewcee]

BlackSwan, I got the info from "spreadbettingbeginners" website, hes tried the nextgen platform but moved accounts once he realised that slippage was wider than the old MM platform. He made a few posts about it on his blog, I tried to convince him to come over and post in this thread but he never got around to it.
As far as I know he only trades stocks, and he position trades them for as long as a trend will last. (days to months, never day trades)

 

[Ross Spur]

Slippage is slightly worse now than it was on the old market maker platform. Not enough for it to be a major problem but the slippage is always in the next gens favour.

Doesn't sound very promising. You'd hope that as the spreads are slightly wider than available elsewhere there would be less need to introduce 'designer slippage'. If the spread charts showed real time prices rather than update every 30s, 1m, or whatever, you'd be able to tell what was going on.

 

[tar]

If there is no requotes then there should be some slippage when prices moves fast , this is the market it is fair , the question is how much slippage ? every one should try and see by himself .

@ MT4 : If CMC introduced MT4 yeah it will attract traders who trades micro lots , but CMC will lose alot of the serious business , MT4 is c***p .

 

[Black Swan]

BlackSwan, I got the info from "spreadbettingbeginners" website, hes tried the nextgen platform but moved accounts once he realised that slippage was wider than the old MM platform. He made a few posts about it on his blog, I tried to convince him to come over and post in this thread but he never got around to it.
As far as I know he only trades stocks, and he position trades them for as long as a trend will last. (days to months, never day trades)

OK...fwiw I've had slippage off some of the most highly reputable FX brokers, not even during volatile periods, the slips always feel more acute when you're fishing for 20 pips versus 200, but they are part of the overhead of doing business on any platform and on many securities. If this contact is position trading then it'd have to be a helluva slip to upset him..

The trading corner of the interweb is littered with 'bitters'..I'd discount/ignore anyone else's experiences and concentrate on you and your own...

 

[Ross Spur]

If there is no requotes then there should be some slippage when prices moves fast , this is the market it is fair , the question is how much slippage ? every one should try and see by himself .

@ MT4 : If CMC introduced MT4 yeah it will attract traders who trades micro lots , but CMC will lose alot of the serious business , MT4 is c***p .

Depends on what you mean by slippage. It has to happen on markets that close and then gap, but in normal circumstances I think that with SB you really only get slipped on an order because they decide not to fill at that price. In a real market, there might not be a buyer or seller at that level, but with SB they're taking the other side, so if they quote that price (ie, it doesn't gap), if only for an instant, why should an automatic platform add slippage?

Some of MT4 is c**p, yes, but it's arguably less c**p than Next Gen.

 

[PC at CMC Markets]

Good morning

Lots of posts today.
I am just stating facts and you can argue for or against next gen as much as you like but the simple fact is that business is increasing, next gen is a success and we have hit all of our targets. Our uk spread bet business is growing. As you know I cannot lie about these things for compliance reasons.

We launched next gen in Germany and had an excellent launch. We are planning a global roll out around the world and that is on schedule.

As a business we have to work on facts and next gen is proving to be very successful regardless of comments here. I rest my case.

Sorry, if this sounds arrogant. I do not mean it to be and I am listening to you but the stats are not backing you up and I am just stating that here.

Sorry black swan I am not responding to your post directly but to all the other posts that appear over last couple of pages.

thanks peter

OK...fwiw I've had slippage off some of the most highly reputable FX brokers, not even during volatile periods, the slips always feel more acute when you're fishing for 20 pips versus 200, but they are part of the overhead of doing business on any platform and on many securities. If this contact is position trading then it'd have to be a helluva slip to upset him..

The trading corner of the interweb is littered with 'bitters'..I'd discount/ignore anyone else's experiences and concentrate on you and your own...

 

[tar]

Depends on what you mean by slippage. It has to happen on markets that close and then gap, but in normal circumstances I think that with SB you really only get slipped on an order because they decide not to fill at that price. In a real market, there might not be a buyer or seller at that level, but with SB they're taking the other side, so if they quote that price (ie, it doesn't gap), if only for an instant, why should an automatic platform add slippage?

Some of MT4 is c**p, yes, but it's arguably less c**p than Next Gen.

If price has changed before your trade gets filled then u should get the new price , this is fair slippage ...