Software 1/10 I think it's the software that gets me most about CMC. Whilst everything else runs fine on my (high spec) PC. CMC 'MarketMaker' will freeze for around 5 mins, 4 or 5 times an hour. Recently it's developed a new habit where it will 'lose connection' and so you cannot trade or get any prices. This is hapening around every 10 minutes.( whereas all my other internet based software is connected fine) If you do manage to get a few minutes when the software allows you to place a trade. More often tha not you won't get the price you clicked (even on very small orders). It will go away for a couple of minutes and give you a requoted price in a yellow box.
I CANNOT understand how this company continues to operate. It must be through having lots of new subscribers, who lose money then walk away. Only a high turnover of customers would keep this company going, as no could seriously use this product for anything constructive long term. It's just a bizzare company - Do not use ! winmoney 12-06-2008 15:18:59
worst i have seen 1/10 terrible platform. you cannot put stop-loss and take-profit when placing your order. you do this separately and it is not closed automatically when you close your trade. they want you to forget it so that they can suck your money. help and support are either not available or completely incompetent. their web site is a mess and there is a lot of incorrect information there. i closed my account 2 weeks ago and still have not received my check. tried to call but so far have not managed to speak to someone who can give me any information. it is very frustrating to deal with these guys, so stay away from them. anpremar 05-06-2008 19:10:20
Better to invest your Money in the Shredding Machine 1/10 CMC do not like Day traders.
They actively trade against their Customers. They are Fraudlent thieves. Please forward this to them as I hope they sue me..................
Their whole Advertising Campaign is based around a faulty "Trading Platform". To give the impression that the Customers are trading the "markets" they are not. They are trading against CMC.
You are better off placing your money in the Shredding machine switching it on and then seeing how much you can save by switching it off. Aston1st 03-06-2008 00:15:32
Closed my account within 2 weeks 1/10 I am amazed that you cannot put stops on individual trades you have to put an opposite trade - imagine what happens if you close your trade but forget to close the stop trade! Their browser interface is a joke. They closed my position early even though my stop was lower and even though I was within the margin that they held. Very expensive affair - should never have opened an account with them. businessman 02-06-2008 00:19:10
Not putting up with them any more. Account closed 1/10 Opened a trade at market at £1pp (I know I'm an idiot for not using a limit order). Trade was opened 30 pips above screen price and immediately I went £30 down. Called them to say this was not acceptable to which the response was 'the trade was OK, you were not re-quoted'...of course it wasn't it was a market order! Apparently all prices on screen whether on order tickets or charts (which tracks the ticket exactly, even though I have just been told differently) are indicative only, meaning they're garbage. So according to them, the moment I hit accept the market jumped 30 points and then jumped straight back down to the indicated screen price. Well Im not having it and the crooks are not having my business. nunrgguy 28-05-2008 16:05:05
Stay away 1/10 I was about to open an account with them in Canada but I decided to read first about them on the internet. It is scary what you read there and I cannot understand how anyone could trade with these crooks. The Australians have the same type of reviews as on this site, most people are screwed by their system.
I also subscribed to their Demo platform. I watched their Nasdaq and Toronto level II against a reputable provider I use for my trades (I am a reasonably seasoned trader). On Nasdaq, they mark up the spreads a minimum of 2 points each way and very often 4 or 5 points. For the Canadian market, where they try to enter (they are not tegistered yet) they did not mark up the spread. However I noticed the unusual spikes that so many people talk about which do not appear on the honest level II I use.
As far as I know, their platform is the only one that does not have Volume, On balance Volume or any other Volume related indicator. Can you guess why? I also checked with the software vendor who provides the original of the CMC platform. They have all the Volume indicators here missing.
At one of their hyped presentations in Toronto I presented them with copies of the reviews I collected of the Internet but I never opened an account.
The CD's (certificate for Difference) they trade are an interesting and attractive derivative if they were to be traded honestly. They could make money on a honnest and declared markup like any market maker. I would accept such mark-ups if the trades were automatic, with no human interference in between.
So stay away if you don't want to part with your money. lpsurfer 06-05-2008 21:31:26
CMC = Steal4Free 1/10 CMC used to called Deal4Free, traders nicknamed them Steal4Free then moved on. CMC's trading reputation was so bad they had remarket themselves as CMC Markets. Enough said? What I have found personally is when you start winning at a constant rate, you will experience difficulties with your trades. If your a successful trader, try betting above 5pp, it's a nightmare. Scalping is a no no, you need to prepare yourself to be robbed of a few pips per trade before you take it. Why do I trade with them? Because I enjoy taking a few grand a month off their bottom line profits, but am looking for an honest SBet company (do they exist?) to trade with who won't mess me around when I up my stakes considerably in the future, has anyone got any honest recommendations? Not Cap spreads, Finspreads or IG index, they are just as bad. fibbinstarchi 21-03-2008 09:54:01
Bad experience 1/10 I was on a trading course a while ago. We were trading live, using CMC as the spread betting co but, we had an independent data source for verification.
Bad experience 1/10 I was on a trading course a while ago. We were trading live, using CMC as the spread betting co but, we had an independent data source for verification.
We held a position overnight which was showing a good profit and tried to close it soon after market opening. Every time we tried to close it, CMC moved the price away from us, even though the independent RT data feed showed that it had hardly moved. By the time CMC, finally, accepted the order, they had taken another 4p points in addition to their normal spread.
I wouldn't touch them with a bargepole. alan5616 11-03-2008 17:37:48
BASICALLY, THIS COMPANY IS NOT FOR REAL TRADERS, IT IS THE DOUBLE GLAZING SALES COMPANY OF FINANCE.
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