Post your bad spread bet fills here, research needed!

[Jimmy Lulz]

Just making a note of this reply to jimmy.


I find this latest statement very interesting because if PC wants his clients to win (lol) then why do CMC reject trades, why do they close/suspend the markets around high volatile times when they never used to? Why the slippage in their favour, and I don't mean the 14.3% slippage out of one trading session I recorded.

Thank you for the PM, it made me chuckle.

Why not press PC on these questions? If I ask 'Do you put successful traders on dealer referral / monkey around with their trades', and he answers 'No', that is a pretty serious statement to make. If it is false, all it takes is one disgruntled employee, a bit of FSA involvement and the consequences of lying would be pretty severe I would imagine.

 

[pboyles]

So has PC left?

 

[Truth Seeker]

Thank you for the PM, it made me chuckle.

Why not press PC on these questions? If I ask 'Do you put successful traders on dealer referral / monkey around with their trades', and he answers 'No', that is a pretty serious statement to make. If it is false, all it takes is one disgruntled employee, a bit of FSA involvement and the consequences of lying would be pretty severe I would imagine.

Nice to see you still have your sense of humour jimmy You and me will never get someone to admit there short comings and monmey making games.

 

[Truth Seeker]

So has PC left?

Of course not

 

[francisfinley]

Lolol, I will be anyone u like for the right money!!!!

you sound just like your mother.

 

[Ross Spur]

I have to admit you have got me there jimmy~I'm in fact PC from CMC,

Now it all makes sense.

 

[brettus]

Yes I agree, he is taking a bad example to promote his cause. When it comes to CMC I am waiting to hear of someone getting a "positive slippage", getting a better than clicked price when the order hits the server. Maybe not so fun reporting this kind of slippage.

I want to make a complaint. I specifically asked to be filled at 5150.8 and they filled me at 5150.4.

Life of Brian - Alms for an ex Leper - YouTube

 

[tar]

Fxcm-demo , forex was instant , but i had a strange msg "dealer" this morning while trading the Dax at the open before 7:10 AM .

 

[Truth Seeker]

I want to make a complaint. I specifically asked to be filled at 5150.8 and they filled me at 5150.4.

Life of Brian - Alms for an ex Leper - YouTube

By all means post all your positive slippage, because either way we win, if there's more negative slippage than positive reported, the spread bet companies are still up to there games, and if we start to get more positive slippage to negative then this thread is doing it's job well, but I can't see it happening for long if at all because they make on the negative slippage not the positive. I've done four trades this morning all market orders and all have been slipped average of 0.9 per trade so I have been paying more than double the advertised spread, I've still profited on three of them but my profit has been smaller, and the one that lost, lost more than it should because of the negative slippage. See who's winning here? Life of Brian - love it

 

[Truth Seeker]

Fxcm-demo , forex was instant , but i had a strange msg "dealer" this morning while trading the Dax at the open before 7:10 AM .

Definately worth chasing up, we can't stand for messages like these.

 

[tar]

Again at the open of the LSE , had a dealer msg with Fxcm on the Ftse100 .

 

[Jason Rogers]

Again at the open of the LSE , had a dealer msg with Fxcm on the Ftse100 .

Hi Tar,

Thanks for letting me know about your demo. The message you received is most likely a tech issue. I'm having our tech team investigate it now.


- Jason

 

[brettus]

By all means post all your positive slippage, because either way we win, if there's more negative slippage than positive reported, the spread bet companies are still up to there games, and if we start to get more positive slippage to negative then this thread is doing it's job well, but I can't see it happening for long if at all because they make on the negative slippage not the positive. I've done four trades this morning all market orders and all have been slipped average of 0.9 per trade so I have been paying more than double the advertised spread, I've still profited on three of them but my profit has been smaller, and the one that lost, lost more than it should because of the negative slippage. See who's winning here? Life of Brian - love it

I'll watch it. You have to watch the prices to know whether or not you were done unfairly or not. I think they just stop you out or fill you at the next available price. If you're clever, you can watch how it ticks. Sometimes if you leave a stop at 91.8 instead of 92 you will find that you haven't been slipped. It's actually the same as the real market in that they fill you at the next available price. if the price is 91.3, then 91.8 then jumps to 92.7 for example then you would be filled at 92.7 instead of 92, where as with a 91.8 stop you would have been filled at 91.8. I'll keep an eye on it to make sure they are correct. if you have a stop at 92 and the price goes 92.7, then 93.6 and you get filled at 93.6, then i think they are taking the pee a bit.

 

[Truth Seeker]

http://www.trade2win.com/boards/spr...owner-answers-your-questions.html#post1350658

Dec 10, 2010, 10:50am #8
PC at CMC Markets
Legendary Member


Member Since Oct 2010
1,261 Posts Re: CMC Markets owner answers your questions

--------------------------------------------------------------------------------

Hi Black Swan

So lets answers your questions as best I can. Why I think you should use CMC rather than our competition. Not in any particular order.
1. Unique graphical interface, our trading platform does not look like a spreadsheet.

2. Consistently competitive spreads on major products, we do not double the size of our headline spreads when the markets get volatile.

3. 100% automation of trades, no dealer intervention and millisecond execution of orders
No cancelled orders when the markets get tough, all trades filled

4. Next Gen charts, 66 technical indicators, presented in a fresh graphical format with the ability to amend risk management directly from the chart. Created in-house with constant new development.

5. Precision pricing up to 1000th of a pip

6. The best iphone trading platform on the planet, we are not boasting, its just a fact

7. Unique risk management stops. Automatic margin stop loss (can be dis enabled if required)

Sometimes clients get used to their spread bet firm and find it hard to change. I am the same with my bank account. But ultimately we believe that by having the best consistent pricing, automated execution, no dealer intervention over a period of time we will win the argument. Time will tell.

Regarding your forex question.

I worked as a forex trader in banking and broking for around 15 years. I was interbank trader quoting prices to clients and other banks. I have some experience. I have always taken the view that whatever market you trade you are looking to make money from direction. By spread betting with us you get institutional pricing and your profits are tax free. You click and trade, you get instant execution and because spreads are tight and consistent you can get in and out quickly and ride a trend.

You can scalp the market but that is very intensive and depends on your circumstances. If you can afford to sit in front of a screen all day trying to clip the market then that is an option but it is labour intensive very hairy and eventually it will wear you down.

sb on institutional real time prices, on line, via the iphone opens the worlds markets to you and it is tax free. Hope that answers your question. If not let me know and will try again.
thanks Peter
ps thanks for taking the time to blog.



================================================================================


Look at the statements in I have made bold. On this thread I and others have proved that orders DO infact get cancelled and they even suspend/close the market when the market moves fast!
They may not 'double the size of our headline spreads when the markets get volatile' they just slip you to high heaven so you end up paying a spread of up fifty times more than advertised.

Get real, PC is making statements and clearly going against them which has been proved here with screen shots!

I don't like liars.

 

[gle101]

I'll watch it. You have to watch the prices to know whether or not you were done unfairly or not. I think they just stop you out or fill you at the next available price. If you're clever, you can watch how it ticks. Sometimes if you leave a stop at 91.8 instead of 92 you will find that you haven't been slipped. It's actually the same as the real market in that they fill you at the next available price. if the price is 91.3, then 91.8 then jumps to 92.7 for example then you would be filled at 92.7 instead of 92, where as with a 91.8 stop you would have been filled at 91.8. I'll keep an eye on it to make sure they are correct. if you have a stop at 92 and the price goes 92.7, then 93.6 and you get filled at 93.6, then i think they are taking the pee a bit.

This would have been correct if we are talking about the real market. But we are not, CMC is a market maker. When you get slipped (market order) in the real market it is because you are not first in line.

 

[alan5616]

Send them a link to this thread, tell them all the games will be logged and then investigated.

I can only comment on UK brokers/SB Cos. If you think that the FSA is going to do anything to help retail traders, you're likely to be disappointed.

The FSA are just about useless, unless, of course, your broker has failed to comply with Chapter 47, Page 306, Section 9, subsection xxiv, Appendix B, of the Money Laundering Act. That account you opened, with £500, must be fully compliant with the above Act. If a minor breach is found to have taken place, the FSA will jump all over them like a dog with a hard on. The fact that these criminals are defrauding thousands of clients, on a daily basis, is too trivial a matter for the FSA to investigate. ****ing useless bunch.

 

[Truth Seeker]

I can only comment on UK brokers/SB Cos. If you think that the FSA is going to do anything to help retail traders, you're likely to be disappointed.

The FSA are just about useless, unless, of course, your broker has failed to comply with Chapter 47, Page 306, Section 9, subsection xxiv, Appendix B, of the Money Laundering Act. That account you opened, with £500, must be fully compliant with the above Act. If a minor breach is found to have taken place, the FSA will jump all over them like a dog with a hard on. The fact that these criminals are defrauding thousands of clients, on a daily basis, is too trivial a matter for the FSA to investigate. ****ing useless bunch.

I agree, but there's more than one way to skin a Cat. I don't like it when companies blantantly lie to its customers as I've just proved. If they will lie in this fashion which is easily uncovered, what about what goes on behind the scenes that we can't see?

 

[tar]

Hi Tar,

Thanks for letting me know about your demo. The message you received is most likely a tech issue. I'm having our tech team investigate it now.


- Jason

Thanks , i am interested to hear the results of the investigation , happened today as well around 7:02 AM ( demo/Dax ) .

 

[uk dave]

If you sb you need to realise that they profit from your losses no matter what spin they sell to you, just don't believe a word they say unless you see it with your own eyes.

 

[tar]

If you sb you need to realise that they profit from your losses no matter what spin they sell to you, just don't believe a word they say unless you see it with your own eyes.

well duh !