Is CMC Markets That Bad

ChaseLa

Junior member
14 0
Hi

I am new to trading and searched far and wide for a broker to trade cfds.

I came across CMC markets and tried their demo.

I liked it especially the design of it, since it is only a demo version I don't get full access to their product list.

I see negative comments across other threads is it really that bad ?

Which cfd brokers would you recommend ?

Thanks
 

x4x

Well-known member
465 61
Hi

I am new to trading and searched far and wide for a broker to trade cfds.

I came across CMC markets and tried their demo.

I liked it especially the design of it, since it is only a demo version I don't get full access to their product list.

I see negative comments across other threads is it really that bad ?

Which cfd brokers would you recommend ?

Thanks

Yes, they're horrible, and you definitely don't want to trade with a broker because you like their design - in practical terms, CMC are about as bad as it gets.

IG allow you to trade at 50p per point and allow you to grow your stakes in penny increments rather than whole pounds. I see you're in Ireland, presumably a Euro account would be the same but with Euros/Cents.

There are lots of advantages to IG over CMC, most of which won't come in to play until you have gained a bit of experience, but you may as well start with the best rather than with the worst.

One simple bit of advice: do not trade at more than 50p per point until you are consistently profitable and your MM allows you to - if you do that your learning shouldn't cost you much.
 
  • Like
Reactions: WR1

yellowfloyd

Active member
109 2
Hi

I am new to trading and searched far and wide for a broker to trade cfds.

I came across CMC markets and tried their demo.

I liked it especially the design of it, since it is only a demo version I don't get full access to their product list.

I see negative comments across other threads is it really that bad ?

Which cfd brokers would you recommend ?

Thanks

Hi,

I have used CMC’s before and it wasn’t too bad. Don’t believe everything you read on these forums.

I ended up trading with CMC for a few months and although I didn’t really have a bad experience, I decided to move to a provider which offered me direct market access. I currently use Saxo Bank (Forex Trading Online - Trade FX, CFDs, FX Options at Saxo Bank), IG Markets (IG international offices) and Accendo Markets (CFDs, Spreadbetting and Spot FX - Accendo Markets) for my CFD trading as these guys offer me direct market access (better liquidity/pricing etc)

Hope that helps!
 

WR1

Active member
206 9
you are better off believing the majority of what you read about this outfit

as the poster above confirms - its a horrible experience
awful charts, constant reqoutes, and can hardly ever get a winning trade closed

i wanted to pull my own hair out - quite literally

and IG are not that much better (if your a winner)

Ask yourself, how does one man - Mr CMC, become the richest single man in Londons square mile
(10bill in 15-20yrs)

looser's are quite welcome at both CMC and IG
winners not so welcome
 
Last edited:

x4x

Well-known member
465 61
Does IG provide direct market access or is it a market maker like CMC ?

IG provide a spread betting platform and are therefore market makers, but I use third party charts and data, IG's prices match point for point 99% of the time. They don't mess people about and you can win consistently with them.
 

x4x

Well-known member
465 61
you are better off believing the majority of what you read about this outfit

as the poster above confirms - its a horrible experience
awful charts, constant reqoutes, and can hardly ever get a winning trade closed

i wanted to pull my own hair out - quite literally

and IG are not that much better (if your a winner)

Ask yourself, how does one man - Mr CMC, become the richest single man in Londons square mile
(10bill in 15-20yrs)

looser's are quite welcome at both CMC and IG
winners not so welcome

So how do IG stop you winning exactly?
 

ChaseLa

Junior member
14 0
I tried the IG demo account and hated it, they don't have any US shares like cmc, or company overview.

I have been consistently profiting using the CMC demo account.

Why cant you close winning trades ?

If anyone could recommend me a better broker i'm all ears
 

yellowfloyd

Active member
109 2
I have been consistently profiting using the CMC demo account.

Hi ChaseLa,

Make sure you understand the difference between Live account and demo account. My advice is to contact all the brokers which is FCA regulated and use their demo account and ask for trading materials. Once you understand the trading and how platforms works, you'll make profit in real not in demo. You can lose in real as well. For me platforms are like Windows or Linux operating system.
 

SpreadBeta

Junior member
41 13
Hi ChaseLa,
Having traded via both CMC And IG over the (11+) years I have had good and bad experiences with both of them.
As such I still have accounts with both (and a couple of others also) and use whichever one gives me the best experience, prices etc at the time, or if I hit problems with one i can switch to the other in minutes..
Can I suggest you consider opening an account with more than 1 company and then place say half your position thru one and half thru the other.
Gaining first hand experience of the instruments that YOU are trading will them (which may be different the other posters) will allow YOU to assess which gives you the best facilities, slippage, charts, commission, overnight charges etc... by comparing the results from each..
Bottom line is your will learn more by trying and comparing companies in this way than any other method..Just remember to trade in small amounts until you feel confident in the way each of them operate
 

ChaseLa

Junior member
14 0
This is a screenshot I took of my demo account today I started with 1,000,000 now I am at $1.27m.

The first 5 or so trades I lost miserable because I was just trying to understand trading, the past few trades I've been analyzing charts and trends and have been profiting nicely using margin.

If I had a $10,000 budget to begin in real life would I not have 2700$ in profits following the exact same trades ???

This is over a 2 day period.

 

Vasco da Banana

Established member
699 121
If I had a $10,000 budget to begin in real life would I not have 2700$ in profits following the exact same trades ???

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Yes, but your chance of doing it is probably about the same as winning the lottery jackpot.
 
 
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