CMC and Cityindex | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What do you think about CMC markets? 6 replies

Any Aussies Using CMC or Man Financial 3 replies

CMC charts 2 replies

CMC Spreadbet 9 replies

CMC/preferred broker 4 replies

Attachments: CMC and Cityindex
Exit Attachments

CMC and Cityindex

  • #1
  • First Post: Edited 4:37am Jan 2, 2011 4:20am | Edited 4:37am
Anyone here uses CMC and Cityindex as their trading platform? Their commission is very attractive which allows for scalping and long term trading. I saw on one thread that CMC is closing down in the US, however here in Singapore, it is pretty well known for its CFD. As for Cityindex, there are charging $10 SGD for all trades regardless of lot size, which means if i buy 100 lots, my commission is only 10 bucks and if i sold it, the commission is also 10 bucks, which is so cheap. I just want to know if these 2 companies are financially strong and if anyone has experience with their platform, customer service etc? They want to gain market share in singapore, but i am skeptical with their ability to give cheap commission.
  • #2
  • Jan 27, 2011 10:29am Jan 27, 2011 10:29am
Besides City and CMC, who uses cantor fitzgerald??

How is their service?
  • #3
  • Jan 28, 2011 2:51am Jan 28, 2011 2:51am
I was considering CMC here in Canada, but their platform is just too proprietary and there are no other alternatives. It's java based, resource heavy, slowish, and to me very non-standard, with annoying pop up messages on "updating", while it receives some sort of data. That aside, while there are some nifty pattern recognition features (ala JForex), they do not show customers volume for any equity, index nor spot futures: that to me is purposefully yet conveniently stacked against their customers - I am quite sure their floor traders don't use the same application.
  • #4
  • Jan 28, 2011 5:15am Jan 28, 2011 5:15am
Quoting ronaldksmmg
Anyone here uses CMC and Cityindex as their trading platform? Their commission is very attractive which allows for scalping and long term trading. I saw on one thread that CMC is closing down in the US, however here in Singapore, it is pretty well known for its CFD. As for Cityindex, there are charging $10 SGD for all trades regardless of lot size, which means if i buy 100 lots, my commission is only 10 bucks and if i sold it, the commission is also 10 bucks, which is so cheap. I just want to know if these 2 companies are financially strong and...
Never used City.

CMC waste of time they run a dealing desk and have been warned by ASIC. CMC has a terrible reputation here in Australia.
  • #5
  • Jan 28, 2011 4:25pm Jan 28, 2011 4:25pm
City Index have one of the worst platforms I have ever used. The prices and spreads are crap, but apparently there are great arbitrage opportunities on the DAX and CAC because they are very slow to update!

CMC are one of the most obvious market makers, and in Australia as the guy above has said everyone has read in the national papers about what they do with trades.
  • #6
  • Jan 29, 2011 10:33pm Jan 29, 2011 10:33pm
City Index will close down your positions without telling you if you are a profitable threat. I was trading quite successfully on U.S Crude and withdrawing funds weekly, they closed me down quick smart.

Also don't fall for sign up credit or enticements, they will renig on these.
My comments are not to be taken as trading advice, not a financial advisor
  • #7
  • Jan 31, 2011 11:49am Jan 31, 2011 11:49am
Quoting ronaldksmmg
Anyone here uses CMC and Cityindex as their trading platform? Their commission is very attractive which allows for scalping and long term trading. I saw on one thread that CMC is closing down in the US, however here in Singapore, it is pretty well known for its CFD. As for Cityindex, there are charging $10 SGD for all trades regardless of lot size, which means if i buy 100 lots, my commission is only 10 bucks and if i sold it, the commission is also 10 bucks, which is so cheap. I just want to know if these 2 companies are financially strong and...
I have been using CMC before when I was a newbe,
and before I found out what they been doing to me.
they are the worst bucketshop out there, I lost a small fortune with them,
they do anything to rip you off, so if you like your money stay away!
fake spikes, price manipulating, charts not right, high slippage, and you name it, these guys do all the dirty tricks
further, platform suck ass! do you need to hear more?
Bulls are stupid Animals!especially when Im short!
  • #8
  • Jan 31, 2011 2:25pm Jan 31, 2011 2:25pm
I used to have an account with CMC and also with City Index both of them closed me down when I started to make money.

They started to hold my tickets and giving me re-quotes every time I tried to put on a trade obviously I had to leave.
They are very GOOD if you are a LOSER then you will get great service IMO.

I have been using IG Markets now for about 4 years I have made a lot of money using their platform. They are very professional and fair their platform is reliable and quick I would recommend them
  • #9
  • Feb 1, 2011 2:05am Feb 1, 2011 2:05am
Quoting roughtrader
I have been using CMC before when I was a newbe,
and before I found out what they been doing to me.
they are the worst bucketshop out there, I lost a small fortune with them,
they do anything to rip you off, so if you like your money stay away!
fake spikes, price manipulating, charts not right, high slippage, and you name it, these guys do all the dirty tricks
further, platform suck ass! do you need to hear more?
Nice said! They are market makers. They can see their book on whether the buying is more or selling is more. However, there is a way we can profit from them. I tried them many times, seems ok to me. They dont requote or close down my position without telling me. So far so good for me.

Anyone uses cantor fitzgerald??

Ronald K
  • #10
  • Feb 2, 2011 10:19am Feb 2, 2011 10:19am
CMC - bucket shop - I lost money with them - bad fills, requotes, errant orders etc - I closed my account and moved to IGIndex. Much better. CMC's platform was a bag of cr@p and would always crash around NFP etc.
Trade less and become more profitable!
  • #11
  • Feb 16, 2011 8:22pm Feb 16, 2011 8:22pm
Hi, I am from India. I had an account with CMC Markets, 2 years back. I have been stop hunted and lost around 6000$ in a single day. I used to make good profit in the beginning. Later on they delayed execution and increased spread to even 40 pips. Those days I was not aware of the Forums and other regulatory authorities like CFTC, FSA etc..They closed my account. Can anyone help me regarding this.

thanks
  • #12
  • Feb 18, 2011 1:08pm Feb 18, 2011 1:08pm
For people like us, I think fixed spread brokers are better. My broker never increase spread for forex pairs. The spreads for other contracts like Nifty (4 to 10pips), Dow (4-7 Pips), Oil (4 fixed, during weekly inventory data 10pips & 20pips for just 2-3 min) etc; do change some time times. For newbies like us, trading variable spread is a challenge! I have not tried variable spread, ofcourse. in INR $6000 is quite a lot of amount....I am sorry abt it.
  • #13
  • Feb 18, 2011 3:49pm Feb 18, 2011 3:49pm
Quoting bentom
Hi, I am from India. I had an account with CMC Markets, 2 years back. I have been stop hunted and lost around 6000$ in a single day. I used to make good profit in the beginning. Later on they delayed execution and increased spread to even 40 pips. Those days I was not aware of the Forums and other regulatory authorities like CFTC, FSA etc..They closed my account. Can anyone help me regarding this.

thanks
The CEO of CMC has his own thread in another forums and posts there everyday , if u want i will send u the link ...
  • #14
  • Feb 18, 2011 3:56pm Feb 18, 2011 3:56pm
Quoting >Apocalypto<
Never used City.

CMC waste of time they run a dealing desk and have been warned by ASIC. CMC has a terrible reputation here in Australia.
CMC UK has non-dealing desk service now ...
  • #15
  • Feb 18, 2011 8:38pm Feb 18, 2011 8:38pm
Quoting mkis
I used to have an account with CMC and also with City Index both of them closed me down when I started to make money.
They started to hold my tickets and giving me re-quotes every time I tried to put on a trade obviously I had to leave.
[color=black][font=Verdana]I have been using IG Markets now for about 4 years I have made a lot of money using...
Specifically, which instruments were you trading with these brokers? I have noticed with IG you dont get a fill when the market is fast moving.
  • #16
  • Feb 19, 2011 4:50pm Feb 19, 2011 4:50pm
Quoting ava_ind
For people like us, I think fixed spread brokers are better. My broker never increase spread for forex pairs. The spreads for other contracts like Nifty (4 to 10pips), Dow (4-7 Pips), Oil (4 fixed, during weekly inventory data 10pips & 20pips for just 2-3 min) etc; do change some time times. For newbies like us, trading variable spread is a challenge! I have not tried variable spread, ofcourse. in INR $6000 is quite a lot of amount....I am sorry abt it.
if your broker is running fixed spreads, he is a market maker, thats a fact.
and trust me, it is not better
Bulls are stupid Animals!especially when Im short!
  • #17
  • Mar 18, 2011 5:29am Mar 18, 2011 5:29am
just traded indexes with cityindex. Damn their spreads are so wide apart.

Posted the results on my blog.
  • #18
  • Mar 18, 2011 6:16am Mar 18, 2011 6:16am
Quoting ronaldksmmg
just traded indexes with cityindex. Damn their spreads are so wide apart.

Posted the results on my blog.
i dont know which index u r talking about but their spread on the ftse , dax , dow is one point only during market hours ...
  • #19
  • Mar 18, 2011 7:34am Mar 18, 2011 7:34am
Quoting tar
i dont know which index u r talking about but their spread on the ftse , dax , dow is one point only during market hours ...
I am trading the dow and hong kong index. Can't be one point, if u see the dow now its 4 points.
  • #20
  • Mar 18, 2011 7:42am Mar 18, 2011 7:42am
Quoting ronaldksmmg
I am trading the dow and hong kong index. Can't be one point, if u see the dow now its 4 points.
for the dow it is one point when the stock market is open ...
0 traders viewing now