Best Thread CMC Markets owner answers your questions

[geewcee]

Good stuff Peter, thanks for the quick reply. Looking forward to using your ipad app!

 

[PC at CMC Markets]

hi geewcee,
Look forward to having you as a client.
Our ipad app is for cfds only at moment. Spread bet app is coming soon. not sure when but weeks rather than months. iphone we have for spread bet and cfd trading.
again, feed back appreciated.

regards Peter

Good stuff Peter, thanks for the quick reply. Looking forward to using your ipad app!

 

[geewcee]

Just got rid of my iphone, no matter I will be using the desktop version mostly.
Cheers.

 

[PC at CMC Markets]

Hi geewcee, NG looks fantastic on mac.
regards pc

Just got rid of my iphone, no matter I will be using the desktop version mostly.
Cheers.

 

[x4x]

Hi - I have just come across this thread and haven't read the entire thing, life is too short..) so apologies if this is a repeat..
I started using your demo web SB platform - I like the charting package and have watched you add a number of useful features, and the spreads seem pretty competitive. I'd like to see a few more options on these before I'd use it live, but my biggest concern to date has been that the platform often seems to hang up, and I have to re-log in - I'll click for a chart and nothing happens, or on the buy/sell option and ditto. Don' t know whether you have any comment on this ?

Hi noviceuk,

Would be good good if you could list the additional features you would like to see - if they match any of those previously listed it would keep up the pressure on PC to implement them :cheesy:

I've not been using CMC for long, but haven't personally had any system 'hang ups' on my live account - I use Chrome, but you'll have to use an alternative when funding your account - for some reason the funding facility doesn't work with Chrome.

 

[PC at CMC Markets]

hi 4x4
Have not heard of issues for payment on chrome but will pass it onto the team.
You can fund from iphone and ipad app (cfds)

thanks pc

Hi noviceuk,

Would be good good if you could list the additional features you would like to see - if they match any of those previously listed it would keep up the pressure on PC to implement them :cheesy:

I've not been using CMC for long, but haven't personally had any system 'hang ups' on my live account - I use Chrome, but you'll have to use an alternative when funding your account - for some reason the funding facility doesn't work with Chrome.

 

[Truth Seeker]

Hi Peter
How is the 1-click trading coming along? I have been trading your demo and have noticed you don't have a few FX pairs, will you be adding more? NZD/GBP would be a start? I noticed you have GBP/NZD. Also I think I mentioned before, can you also change the Take Profit from having to input the actual desired instrument number in (1.1613) which in a moving market is no good. To improve this greatly is to do the same as you already have when you want to place the Stoploss on the same ticket, this is to beable to input the amount in pips (or points for Indices etc) away from the market/limit price. This way is much more logical for the average trader. To add, I have noticed some slippage, I'm not sure if it's just because I'm on the demo, but I would have thought the demo would not have any slippage, so to add slippage control would also be added essential.

 

[PC at CMC Markets]

Hi Truth seeker,
Thanks for your post and the things you are looking for are in production. I know one click is not far away. We will allow you to open a buy and sell ticket at the same time, which will be the short term answer.

Not sure what you mean by slippage. All prices are quoted off the market price and the pricing is fractional pricing so you have to hit the price quickly. we do not round prices.

look forward to you opening a live account. have you seen our new spreads lately.

pc

Hi Peter
How is the 1-click trading coming along? I have been trading your demo and have noticed you don't have a few FX pairs, will you be adding more? NZD/GBP would be a start? I noticed you have GBP/NZD. Also I think I mentioned before, can you also change the Take Profit from having to input the actual desired instrument number in (1.1613) which in a moving market is no good. To improve this greatly is to do the same as you already have when you want to place the Stoploss on the same ticket, this is to beable to input the amount in pips (or points for Indices etc) away from the market/limit price. This way is much more logical for the average trader. To add, I have noticed some slippage, I'm not sure if it's just because I'm on the demo, but I would have thought the demo would not have any slippage, so to add slippage control would also be added essential.

 

[Truth Seeker]

Hi Peter

Slippage is when you enter a price at a specific price but you don't get filled at that price, you get filled at a worse price, the busier the period, the worse the slippage/fill. That's why if I could control my slippage (by pips) it will avoid me getting in bad trades because of slippage. Is your demo platform feed on the same server/data feed as your live accounts data/feed?

 

[PC at CMC Markets]

Good morning Truth seeker, how are you today.

slippage is something that happens in the markets and is out of our control as you know.
If you could see the major banks prices over economic data they can be all over the place, in many cases wider than what we quote our clients. what we try to do as a company is stabilise the pricing to our clients as best we can. You get slippage on exchanges and fast markets. That is the way of financial markets.
Ultimately if you want to control slippage within a points range that is something we are thinking about but ultimately what you are doing is passing on the market (slippage) risk to your spread bet provider regardless of what the markets do. Some companies will offer guaranteed stops and fixed spreads on forex but ultimately they are taking the loss if market gaps against the order.

tks pc

regards Peter

Hi Peter

Slippage is when you enter a price at a specific price but you don't get filled at that price, you get filled at a worse price, the busier the period, the worse the slippage/fill. That's why if I could control my slippage (by pips) it will avoid me getting in bad trades because of slippage. Is your demo platform feed on the same server/data feed as your live accounts data/feed?

 

[twinj]

Correct me if I am wrong but I think there are broadly 3 types of slippage. Exit, entry and perceived slippage. Exit is normally with say a stop order and during news announcements, could go through your stop. Entry slippage happens with some brokers whilst you see a certain price quoted and you are certain you saw that price as you pressed execute yet you get another price upon execution. Perceived slippage being as you press execute, the price changes. Exit slippage is tolerable during announcements. Perceived of course because it is your fault. So Peter, is there entry slippage on your platform?

 

[PC at CMC Markets]

Hi Truth Seeker,

I can only speak for our platform as I do not know how other companies operate but it depends on the type of order you place.

1. If you place market order you get the price we are quoting at the time. This price can move up or down in the seconds you take to buy or sell. In our case we quote fractions of a price we do not round prices up or down. So if you deal at market you get the market price (that we are quoting) this is the same as an exchange.

2. If you want a specific entry price you have to place a limit order. If the price moves to that level it gets executed. (you can follow our pricing through charts and spread charts) if it does not you are not executed.
3. stop loss orders can be placed at market price or stop bid or offer. If the level is reached the order gets treated like market order (see one above)

In essence if you place an entry order you have to determine the order type. Market order, stop order or limit order.

I confirm that all of our pricing is generated automatically through algorithms and we do not read client positions or orders before the order is placed. there are no re-quotes and
execution is fully automated. There is no dealer intervention.

Please ensure you understand the risks of trading before you trade.

regards Peter

Correct me if I am wrong but I think there are broadly 3 types of slippage. Exit, entry and perceived slippage. Exit is normally with say a stop order and during news announcements, could go through your stop. Entry slippage happens with some brokers whilst you see a certain price quoted and you are certain you saw that price as you pressed execute yet you get another price upon execution. Perceived slippage being as you press execute, the price changes. Exit slippage is tolerable during announcements. Perceived of course because it is your fault. So Peter, is there entry slippage on your platform?

 

[PC at CMC Markets]

Hi twinj
very sorry I replied to your message but addressed it to truth seeker. It is Friday and am a bit cream crackered today. Please see answer to your question but addressed to truth seeker.

thanks Peter

Correct me if I am wrong but I think there are broadly 3 types of slippage. Exit, entry and perceived slippage. Exit is normally with say a stop order and during news announcements, could go through your stop. Entry slippage happens with some brokers whilst you see a certain price quoted and you are certain you saw that price as you pressed execute yet you get another price upon execution. Perceived slippage being as you press execute, the price changes. Exit slippage is tolerable during announcements. Perceived of course because it is your fault. So Peter, is there entry slippage on your platform?

 

[twinj]

Thanks for your answer Peter. So if I decide on a market order and see a price I like on your platform. Assuming it is one click (the button to definitely execute). If I press it, would I get the price I saw for sure or after pressing, the system decides the price had changed and give me another price as the executed price?

 

[PC at CMC Markets]

Hi twinj

The price you get is the price we are quoting across the board to every client the moment we receive the order. It is likely during volatile markets that the price you receive (on a market order) will be different to what you saw when you pressed click. This might work out for you or against you. We do not determine whether you are buyer or seller at any stage of you executing a trade. We quote what we quote regardless of whether you are buyer or seller. We can only execute a trade we when we receive it on the execution engine. this normally takes milliseconds if you have a good internet connection.
On next gen we also quote fractions of a price so you get precision pricing. That means the precision part of the price is changing frequently to reflect more accurately the market price.
Hope that helps.
thanks Peter

Thanks for your answer Peter. So if I decide on a market order and see a price I like on your platform. Assuming it is one click (the button to definitely execute). If I press it, would I get the price I saw for sure or after pressing, the system decides the price had changed and give me another price as the executed price?

 

[.:twonk:.]

Hi Peter,

Is there any chance of you reducing the number of emails you send to clients? I receive far too many and is it getting quite annoying. I understand that the only way to stop getting them is to close the account, is that right?

Perhaps you could look into giving clients updates when they log into the software like IG do?

 

[PC at CMC Markets]

Hi twonk,

You are absolutely right and I have already told the team to stop sending out bloody emails. It is okay to see the odd email but ridiculous to keep sending all the time.
anyway you will probably get another this week but after that will slow down.

thanks for your posting
peter

Hi Peter,

Is there any chance of you reducing the number of emails you send to clients? I receive far too many and is it getting quite annoying. I understand that the only way to stop getting them is to close the account, is that right?

Perhaps you could look into giving clients updates when they log into the software like IG do?

 

[x4x]

Hi Peter, as previously stated, I LOVE the speed of your platform, the pricing, the tight spreads, the tight stops...

but I am really missing some of the key functionality offered by the IG platform.

I've mentioned these features previously and you have replied that most will be implemented at a future date, but the one thing I'm really missing is the ability to hold long and short positions simultaneously in the same instrument. IG offer this with a 'force open' option. Is there any way that you are able to or are ever likely to offer this option...?

Cheers.

 

[PC at CMC Markets]

hi 4x4

Thanks for your posting. To be honest we haven't thought about this but once we get through the next phase of next gen roll outs including upgrades to U.K system and roll out overseas which is happening over coming months then we will be really free to respond quickly to this type of request.
Keeping long shorts open at same time is not on agenda for now but it can be added.

We have put a lot of resource into our spreads, execution and technology and we need to finish it off now with small but important products and add ons. that is the easy part and will start to come through over coming months. we are on track and once we finish all the upgrades and roll outs we will have awesome trading platform.

tks pc

Hi Peter, as previously stated, I LOVE the speed of your platform, the pricing, the tight spreads, the tight stops...

but I am really missing some of the key functionality offered by the IG platform.

I've mentioned these features previously and you have replied that most will be implemented at a future date, but the one thing I'm really missing is the ability to hold long and short positions simultaneously in the same instrument. IG offer this with a 'force open' option. Is there any way that you are able to or are ever likely to offer this option...?

Cheers.

 

[Black Swan]

Hi twonk,

You are absolutely right and I have already told the team to stop sending out bloody emails. It is okay to see the odd email but ridiculous to keep sending all the time.
anyway you will probably get another this week but after that will slow down.

thanks for your posting
peter

I kinda have a different opinion on this, I always read all of the mail I receive from the SB firms/forex Co's and the newsletters etc plus all my subscriptions (paid and free) too..hardly junk mail/spam is it when it's crucial to our profession? Maybe I'm just sad and like the attention..

In terms of e-mail it's probably only ten a day, then about the same newsletters, I want to be kept up to date on everything that's happening. CMC is no more than one a day is it? Bloomberg, Reuters, FT also essential stuff ..