Post your bad spread bet fills here, research needed!

[Truth Seeker]

Hi, and welcome to my thread. My aim here is for everyone who spread bets and are being slipped, having their trades rejected during high volume trading times to post there experiences here.
My goal is to collect as much information as possible to see who the serial culprits are, then, with that information present it to the appropiate bodies to help us form a level playing field.
As a result the spread bet companies will be forced to stop their games that work to their advantage never ours no matter what they say and we can start earning some decent tax free profits of instead being forced to trade with decent real brokers but having to hand over up to 50% of our profits.
I would also like to hear from anyone who has had their account closed with no good reason (especially if you have been profitable).
Screen shots (with account details blanked out of course) would be great. I am going to a couple of screen shots of two incidents that have happened over the past couple of weeks. Or simply just post your experiences.
I'm for one am sick and tired of being slipped on my trades, having my trades delayed by a few seconds, or just outright being notified the market is suspended when the real market is ticking over nicely!
We should get an idea who the worst offenders are, then we can avoid them and spread the word, it's time we took back the power that we have - We are the customer, we hold the power to push for what we want, if they don't listen and stop their underhand tactics, we take our business elsewhere to a company who will listen.
So to re-cap, only post your bad experiences here, how much you were slipped etc, I'm not interested in hearing about how great your spread bet company is, because we will beable to tell this from the lack of reports that will be listed here.

Now we may get some posters on this site who I think are employed in some way post on this thread, I have a few names listed and if they pop up here, I will simply post 'Cretin' or 'Chimp' so once you see this, ignore them and instantly put them on your ignore list, because if you feed the Chimps, they will just carry on and try our ruin our thread, and quite frankly it's boring.

Another note to realise is that spread bet companies post on this site to promote their business, nothing else, they are not our friends, they want your money in their bank no matter what drivel they spout. We trade their market, when we win, they lose. The only thing we can do is to make sure they play by the rules so we have a fair chance of beating them, yes, it's a war of sorts.

Next week be prepared, have paint open and all you have to do is press either 'fn' and 'prt sc' (at the same time) on a laptop or 'ctrl' and 'prt sc' (again, at the same time) on a computer to save the screen image to desktop or pictures. Then with on your standard paint application in Windows press 'ctrl' and the letter 'V' and you will have the image, you can save as (then name it) and save the image as jpeg for faster uploading to this site.
Also check you trades - did you actually get the advertised spread? You will be surprised how many times you don't.
Count how many times you got the advertised spread and how many times you didn't, then post your details at the end of of either your trading session, or the end of the week. Many thanks.

 

[Truth Seeker]

Here are two instances of what I will say are underhand tactics to make sure that no profit was made. The FX shot is mine, and the Brent Oil is another poster who had a simular problem.
This company is CMC. The proof is in my experiences and screen shots.

 

[tar]

Was trying the CFD demo , one trade took maybe 30 seconds or more then it was rejected , i even was able to take snapshots during the delay , sounds like a technical glitch . You can see on the first pic i was waiting for the confirmation .

PS. no flaming intended , just pure business nothing wrong about it i want SB firms to deliver , CMC is a great company i started trading with them in the past and moved on , now i am testing their new NextGen platform because i am interested and i want to see if they do deliver .

 

[Truth Seeker]

Many thanks Tar and welcome to our thread.
I can see if you look carefully on your first screen shot the 'timing' icon on the 'confirm' button, this has happened to me many times too, it's when CMC hold the trade. This is becoming very common place now and results in either a late trade to market that can mean a loss (as I have experienced) or a tiny profit, or they just reject it totally as they did to you.

 

[Ross Spur]

But aren't those all demo accounts??

 

[Ross Spur]

Here are two instances of what I will say are underhand tactics to make sure that no profit was made. The FX shot is mine, and the Brent Oil is another poster who had a simular problem.
This company is CMC,
The proof is in my experiences and screen shots.

Have to say, Truth Seeker, that you're not doing your case any favours by ranting about 'Cretins' and 'Steal4Free'.

 

[tar]

But aren't those all demo accounts??

Irrelevant in that case , check what Peter has said about CMC's demo account :

hi gle101,

well not entirely. the demo and live system are wired together to give the same execution times etc. we treat it all as one. It is technically easier to do it this way.

pc

 

[Truth Seeker]

Interesting reading:

http://www.trade2win.com/boards/spread-betting/52856-cmc-complaint-ombudsmans-response.html

http://www.trade2win.com/boards/broker-reviews/108498-cmc-markets.html

 

[Splitlink]

The only case that I could put against my spreadbetting firm is if he is giving me untrue quotes. The fills , in 95% of cases, are instant enough for me. Now and again I get the "price has moved on" box. I am not too suspicious of that because it happens at times of spikes, etc. and it often moves in my favour so that I get a better price.

If he is giving me untrue prices, I would not have known about it. However. a hindsight check over trades that got stopped has not shown up that kind of treatment.

Am I naive? Possibly, but, after years of reading threads on here, no one has convinced me to stop using my company.

Can legislation be brought in to improve the customers' lot? Always -- and I am for it. Bookmakers are not, by nature, angels but neither, I might add, are all the customers. A lot of the customers complaints simply do not hold water.

How many people fully understand what you are trying to show us with those snapshots? The circumstances under which you were given those signals are not clear although, as you say, CMC does have a poor reputation with some of us.

 

[scose-no-doubt]

good thread - will be watching with interest.

I think mods should really strive to keep this on topic and cull the rubbish. This has stick potential imo.

 

[Ross Spur]

Hi Ross

You are entitled to your opinion, and hardly a rant.

I am open to all spread bet company reviews, I have posted on all of the threads. Regarding Steal4Free, this is a fact, I have been around for over eleven years trading, and that was the name that was given to CMC, and I feel that people here should know this fact.
A company can't expect just because they change their name for all to be forgotton, it doesn't work like that, I and many others have had really bad experiences with CMC under their previous name.
Where was Peter Cruddas in those days? He wasn't posting on any forum I can tell you, it's a desperate act by a desperate CEO to try and get business after so many left because of the Monkey business. But I was then even willing to give them another chance by offering suggestions on how to improve their platform as you know even though I was being attacked by his merry band of Cretins (you know who these are). But in the past month or so CMC are back to their old tricks, delaying orders, slipping trades to outright rejecting your orders to suspending the market!
Come on now, let's get real, we have the power to force these companies to play fair or we take our money elsewhere.
Regarding the accounts being on demo is of no concern as the CEO of CMC has stated they run off the live feeds so no difference at all.

Having had SB accounts, including CMC, for about the same time as you I'm aware that Deal4Free's reputation wasn't exactly perfect, but a lot of people still used them. In recent years they must have lost a lot of business to the opposition, hence the launch of Next Gen. But 'a desperate act'? I hardly think so.

IMO, what you need to do is make a decent amount (say a hundred) of real trades, recording any delays, suspect fills, spread widening, etc, then post the results. This wouldn't take long and if you used a mininal stake the potential cost would be small. Of course, if the platform does work reliably and you're an ace trader it wouldn't cost anything and you'd have had the satisfaction of taking money off CMC.

 

[raysor]

The only case that I could put against my spreadbetting firm is if he is giving me untrue quotes.

What is an 'untrue' quote? Surely a quote is a quote?

 

[Splitlink]

What is an 'untrue' quote? Surely a quote is a quote?

That is true. What I mean is that if the quote is misleading, or different, with respect to the outside market level of these prices.

I want to repeat what I meant to be clear in my previous post. I, personally, have no evidence of this happening to me. At the same time, hitec being what it is today, it is possible that all, but especially big players, are watched on an individual basis.

A bit "big brother", but still, it is getting that way all the time.

That is, probably, the direction that legislation should go, ie. that a centralised "official" price level should be utilised, that both sides must use in the case of disputes.

 

[gle101]

Hi Ross

You are entitled to your opinion, and hardly a rant.

I am open to all spread bet company reviews, I have posted on all of the threads. Regarding Steal4Free, this is a fact, I have been around for over eleven years trading, and that was the name that was given to CMC, and I feel that people here should know this fact.
A company can't expect just because they change their name for all to be forgotton, it doesn't work like that, I and many others have had really bad experiences with CMC under their previous name.
Where was Peter Cruddas in those days? He wasn't posting on any forum I can tell you, it's a desperate act by a desperate CEO to try and get business after so many left because of the Monkey business. But I was then even willing to give them another chance by offering suggestions on how to improve their platform as you know even though I was being attacked by his merry band of Cretins (you know who these are). But in the past month or so CMC are back to their old tricks, delaying orders, slipping trades to outright rejecting your orders to suspending the market!
Come on now, let's get real, we have the power to force these companies to play fair or we take our money elsewhere.
Regarding the accounts being on demo is of no concern as the CEO of CMC has stated they run off the live feeds so no difference at all.

I don't like the way you keep trying to discredit CMC in every way you can, We will not go for it. I want facts nothing else, and if you can't deliver it this rant about CMC is quite useless.

 

[scose-no-doubt]

Agree. Post more evidence and less rant or SUAGTFO

 

[gle101]

Why not start a thread on a subject how good the SB's are is today compared to a couple of years ago? What a huge difference in spread, execution and service. Sorry to say the SB traders have not advanced in the same rate of excellence, when it comes to the basic trading disciplines.

 

[scose-no-doubt]

Pfft swere that gle. I wont rest till they're basically offering dma with dom proper volume etc all for a wafer thin spread on top.

 

[Splitlink]

Agree. Post more evidence and less rant or SUAGTFO

I think that I understood the significance of the last two letters!

 

[gle101]

Pfft swere that gle. I wont rest till they're basically offering dma with dom proper volume etc all for a wafer thin spread on top.

You will not have it, there is a difference between Market Makers and DMA. Trading the DMA is not in every situation the best option, first in first served can result in you not getting the price you wanted.

 

[Truth Seeker]

Agree. Post more evidence and less rant or SUAGTFO

Firstly, read the threads on this site, secondly that's the point of this thread to bring us up to speed.