CMC vs CapSpreads

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bluap84

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this has probs been asked many times before.
but out of the two, who would be best? Each have features or interfaces i enjoy, CMC has the little things which makes it easier for noobs. But CapSpreads has the better reputation.

I am running a cap spreads and cmc demo accounts side by side. I just cant decide, i like the charts and interface of CMC but Capspreads has a better choice of stock and a better reputation (so i have seen)

CMC their twitter service and iOS apps / youtube vids are all very good but reading back here and reading the bad things is slightly off putting.

Out of the two...who would you pick and why?

oh im mostly spread betting on commodities and forex.
 
The answer is IG Index.

I have a CS account for many years, I have no gripes with them but IG blows them out of the water in terms of market opening hours, instruments to trade and functionality.

I haven't looked at CMC for years so can't comment on them.
 
i have heard many many good things about IG but they dont have a demo accounts, which is hindering my decision because im unable to familiarize myself with the interface

Cap Spreads / IG / CMC all have iphones apps which is a bonus.

What other items do you use with your IG interface?
 
The most important thing is the level of crookedness IMO. Charting packages, platforms etc. are irrelevant.

More important is if they re-quote you - trying to get you in at a worse price, open your orders and close your stops with excessive slippage, inventing their own prices, increasing spreads all of a sudden (with no reports or news at that time) etc. etc.

What good is a charting package with some invented prices of data missing every so often?

Also if you are a successful trader some of them may close your account. IMO Most of them don't like winning customers that much, although you may hear from them BS about them preferring their clients to be profitable because they make money from the spread.

If they don't close your account, they have their special ways to discourage you from trading with them - bad connection, difficulties logging in etc.

If you have to use them at least you should have a reliable charting package - if nothing else to see the tricks some of them play day in day out.

Good luck - you need it to find a reasonable one if any. Most of them are crooks.
 
interesting unbiased comment from Bedsit. As the CEO of a quoted company in what is probably the most heavily regulated industry in the UK i would take umbridge at virtually every point he makes. If we actually did as he suggests we would be fighting ombudsman complaints every day of our lives (and contrary to some comments on these threads the ombudsman is certainly no friend of ours !).

We are market makers and so, if a client wins, he wins from us.. in reality we have no problem with this so long as the client is not trying to 'scalp' on price latency. we have thousands of clients (as do most of our competitors) of which a fair proportion are succesful on a long term basis. We do nothing to stop these clients at all and certainly do not prevent them from trading.

conspiracy thories are ten a penny but realistically any trader using one of the major SB companies will get as good a service as they would from any DMA/Broker offering.

Capital Spread/CMC ?? I would argue Capital Spreads ... PC would argue CMC. We think we are better and they would argue ! in reality to get a true comparicon you would have to open a live account with both, trade/place orders etc and see which one makes you most/loses you least on the same trades.

Simon
 
Hi Simon.
Please note I've never used CapSpreads and would be unfair for me to comment on their performance.
Regards
 
capitalspreads said:
conspiracy thories are ten a penny but realistically any trader using one of the major SB companies will get as good a service as they would from any DMA/Broker offering.
Click to expand...

There are three usual responses from companies when faced with this type of criticism

1. Its all a wild conspiracy theory dreamt up by nutters
2. Dont blame your broker if you cant trade properly
3. These are all competitors trying to discredit us

Those excuses used to wash with a lot of people particularly in the retail FX world. However once people found out that slippage, platform freezes and delayed execution were actually designed into many brokers systems (with the intent to defraud customers) these sort of generic excuses no longer hold any sway.

How much did FXCM make out of it's asymmetrical slippage practices before they got caught, several million? And you try to tell us that nobody else in this, the most crooked industry in the world, would do such a thing, that we all dream it up?

Sorry but you might as well tell us the dog ate your homework.
 
Share Awards 2011

26 - Best Spread Betting Service - CMC Markets

How accredited are those awards? Is it worth paying attention to them?
 
paulbe said:
Share Awards 2011

26 - Best Spread Betting Service - CMC Markets

How accredited are those awards? Is it worth paying attention to them?
Click to expand...

Don't pay any attention to awards, most of them will be paid for by the company concerned. A few years ago I looked into an outfit called 'Business Britain Magazine' which had given awards to CMC Markets amongst others. It turned out they were not a magazine at all, just a crappy website with no content apart from free RSS feeds. They couldn't produce any article or review they had written about the companies in question. I think they were based in some crappy flat in Leeds or somewhere.

Awards mean nothing nowadays. In fact the more 'awards' a company has the more cautious you should be about them. Its just cheap marketing.
 
Ah yes the website doesn't really give much to live up too. I could of created that out of HTML in my sleep.

IG are meant to be the best arent they?
 
paulbe said:
Ah yes the website doesn't really give much to live up too. I could of created that out of HTML in my sleep.

IG are meant to be the best arent they?
Click to expand...

Best at what?

Slippages or entry refusals?

PS That's what I've heard somewhere - I wonder if it's true:whistling
 
paulbe said:
@bedsit. who do you spreadbet with?
Click to expand...

If you don't mind I wouldn't specify.

Anyway if you are looking for a reasonable one keep in mind what's important. Also it's good to have an independent reliable charting package - so you can check on their prices and charts.
 
paulbe said:
@bedsit ok thats fair enough, can you recommend a charting package?
Click to expand...

For some of them you pay, some are free of charge.

I've tried few of them - Sharescope, Tradestation, MT4... Sharescope was good for shares, but not my favourite for FX, Tradestation you pay for different data feeds, MT4 free - mostly for FX and reliability depends on the source of data feed. I've never tried eSignal - they have different levels and different prices...

There could be some other nice free charting packages - maybe you can start a thread asking other members for recomendations.
 
Hi Simon,

I trade in very short term, 10 seconds to 5 minutes a trade, if I see a quick profit just take it. I trade solely based on my technical analyse skill, nothing to do with (if any) system latency. I'm not here for an argument of short vs. long term trading but this is my style and works best for me. My question is would CapSpreads put me into manual dealing for this style?

Thanks.

capitalspreads said:
We are market makers and so, if a client wins, he wins from us.. in reality we have no problem with this so long as the client is not trying to 'scalp' on price latency. we have thousands of clients (as do most of our competitors) of which a fair proportion are succesful on a long term basis. We do nothing to stop these clients at all and certainly do not prevent them from trading.
Click to expand...
 
wzero said:
Hi Simon,

I trade in very short term, 10 seconds to 5 minutes a trade, if I see a quick profit just take it. I trade solely based on my technical analyse skill, nothing to do with (if any) system latency. I'm not here for an argument of short vs. long term trading but this is my style and works best for me. My question is would CapSpreads put me into manual dealing for this style?

Thanks.
Click to expand...

Yes, if you are making a consistent profit over a period of time. No, if they think you're just lucky or lose. You're exactly the sort of client they don't want if you make money out of them on short-term trades.:)
 
wzero said:
Hi Simon,

I trade in very short term, 10 seconds to 5 minutes a trade, if I see a quick profit just take it. I trade solely based on my technical analyse skill, nothing to do with (if any) system latency. I'm not here for an argument of short vs. long term trading but this is my style and works best for me. My question is would CapSpreads put me into manual dealing for this style?

Thanks.
Click to expand...
I think CS is one of the companies that will wait the longest to put you on referral to a dealer. However, the MiFID clearly states that the SB are not allowed to discriminate traders based on their trading style.

____________
"Take control with Risk & Money Management"
 
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