The Baptist
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Hi
To all traders using Spread Betting please note the following events and avoid soon to List D4F (changing name i believe to CMC Markets).
I had read a number of posts being less than flattering to the above business, as I already had an account open I pressed on and consoled myself with the fact that bad trades may end up invariably find their brokers to blame, although this never quite explained why D4F appeared so many times relative to others.
I have over the last few months experience a number of consistent anomalies that were adversely in favour that lead me to being especially vigilant.
Essentially on the morning of the 5th of this month my dealer showed me long a certain stock, I have usually got partial and full pending stops which are continually revised, trailed and reduced as positions are partially exited.
Only one old far out of the market stop was pending I cancelled it and manually closed my position after reopening both my executed and pending blotters to ensure no other stops were about or had been acted on. I did this even though my open position blotter was also still showing long, I have been stung on numerous occasions with this.
No other orders were found which was not unusual and I closed the position. Ironically just after doing that I was swung immediately short to an equivalent amount, this in a moving market with defensive spread to pay again to get back square.
This was something that has happened before and certainly not desirable when not intended.
The long and short of it is that CMC would not reset me to square insisting I trade out, I was refused access to a trading floor manager when requested despite the failure of there platform to reflect that two pending orders not retained in any blotter, lost in the abyss were in effect were being considered for activation, and only traded some 15 minutes later from when triggered and a minute or two after I had begun covering. Were they being initiated by the sudden activity by myself one can only wonder?
Stay away from a Low integrity company who do not stand by their platform or their dealers inadequacies or lack of turnaround time at best, at worst be very suspicious of intent. (the market while bearish was no Black Monday)
Prior to this happening and since trialling a market approach over the last 4 months I was up 6% for June - 11.46% for July - 9.46% for August - 29.29% for September. So this is not trade performance bitterness but a definitive feeling of adversarial responses from this broker.
Wishing better for you all.
TB
To all traders using Spread Betting please note the following events and avoid soon to List D4F (changing name i believe to CMC Markets).
I had read a number of posts being less than flattering to the above business, as I already had an account open I pressed on and consoled myself with the fact that bad trades may end up invariably find their brokers to blame, although this never quite explained why D4F appeared so many times relative to others.
I have over the last few months experience a number of consistent anomalies that were adversely in favour that lead me to being especially vigilant.
Essentially on the morning of the 5th of this month my dealer showed me long a certain stock, I have usually got partial and full pending stops which are continually revised, trailed and reduced as positions are partially exited.
Only one old far out of the market stop was pending I cancelled it and manually closed my position after reopening both my executed and pending blotters to ensure no other stops were about or had been acted on. I did this even though my open position blotter was also still showing long, I have been stung on numerous occasions with this.
No other orders were found which was not unusual and I closed the position. Ironically just after doing that I was swung immediately short to an equivalent amount, this in a moving market with defensive spread to pay again to get back square.
This was something that has happened before and certainly not desirable when not intended.
The long and short of it is that CMC would not reset me to square insisting I trade out, I was refused access to a trading floor manager when requested despite the failure of there platform to reflect that two pending orders not retained in any blotter, lost in the abyss were in effect were being considered for activation, and only traded some 15 minutes later from when triggered and a minute or two after I had begun covering. Were they being initiated by the sudden activity by myself one can only wonder?
Stay away from a Low integrity company who do not stand by their platform or their dealers inadequacies or lack of turnaround time at best, at worst be very suspicious of intent. (the market while bearish was no Black Monday)
Prior to this happening and since trialling a market approach over the last 4 months I was up 6% for June - 11.46% for July - 9.46% for August - 29.29% for September. So this is not trade performance bitterness but a definitive feeling of adversarial responses from this broker.
Wishing better for you all.
TB
