CMC Markets Reviews
|SCAM||two years ago, they were my broker, fortunately for short time. It happens that I was in a very good winning long position and when I decided to close it with a sell, the platform decided to open a new short position instead. I thought I mistook something and tried it again but the platform opens a second short position. It mustn't hedge because when I opened my account, they told me that is mot possible to hedge with this platform. I immediately closed my account||Herman||19.12.18|
|The clue is that they are a registered bookmaker not a dealer brokerage. Ok for betting but not for proper trading. Just see them as a bookie and have a flutter with them.|
I traded to a profit of £20,000 and then they started to requote almost every order ticket.
I assumed the account was being manually watched so I started trading with a proper direct market access broker :- MFGlobal.....
You just can not trust anyone in this game.
CMC also trade under the following names (white labels) :-
Natwest Index,RBS Spread Trading,JN Financial CFDs,OSTC Markets,Pro Financial,Market Pioneer,City Trading,Blue Index Markets,Cantos Trader,Montague Pitman Spreads,HBCFD.com.,City AM Trading,ClickGlobalTrading,Spread 2 Win,Everyinvestor Trading,Express Trading,EquityTrades4u,DS Market Trader,Pretium Markets,Purple Lounge Markets,32Red Spreadbet,Galvan Global Markets,Digital Look Markets,Sharewatch Global Markets,Traders Own Markets,Beaufort Securities,JNF Capital,Currency Management Corporation Plc,CMC Group Plc
|SCAM||Absolut Scam! Lost over 200k with them in 2 months. manipulate charts and hunt your stop losses.||24.10.18|
|They look sophisticated but their service is rubbish. Also Trading times are limited! that's the other silly thing, while most platforms have extended trading hours you will heavily loose a competitive edge with them. Especially if your a day trader. And they will hunt your stop losses with unbelievable precision.||James Hass||15.07.18|
|I can see some reviews making some very serious allegations about CMC - saying it's a scam.|
Well, I've been using CMC for about two years. Lately - and very sadly - I have lost more than I've made. However, that is MY FAULT. I am the one who's responsible, and I'm not going to blame CMC, just because of my misfortune.
I haven't found a shred of evidence to suggest that CMC is a scam. Sure, it IS spread betting, and yes - it might even be a system that's set up in such a way that it's very difficult to win. Maybe you could even describe CMC as being like a coconut shy at a funfair. However, that is the nature of spread betting. It does NOT mean that CMC is a scam.
All of those losers who have lost and are blaming CMC should, in my opinion, man up, take responsibility and rethink their strategy. Stop blaming CMC. Overall, I think it's a good platform. If you're into spread betting then I think CMC is as good as it gets. I have no complaints at all.
from bad to worst
|Hi I have been with CMC for a short while, but was recommended by a friend who had been for a quite a while, first the platform is state of art, I challenge anyone that can show me a better platform, the things that you can do on it are amazing and limitless, and the speed and time to execute an order is fraction of second, 2 days ago when Janet Yellen commented on the US market quoting that market is expensive, there was a huge volatility and their system halted, all my position were closed and I lost £7500 because I couldn't do anything then, I phoned them straight away and I spoke to a Lucy and told her about what happened, she acknowledge having system problem, put me on hold to speak to IT, after she said she will call me back, after 20 minutes I had a call, she advised me to fund my account and IT team will re-instate all my position, I did that and all my positions were back online, I was shocked because I was thinking for the last hour that this was some scam company but in a short while proved to be a good and honest one, same situation happened to me at intertrader.com, and there paid me back all my losses, but their platform is not as good as CMC, I love CMC and I enjoy trading with them, I hope they will stay in business for ever||G Faour||09.05.18|
|SCAM||Appalling. The worst mistake I made as a new trader was opening an account with them. One night alone it dropped out 25 times. They said it was my internet, then my modem then my IP. So, I changed IP, bought the best modem I could buy and upgraded to the fastest wifi I could get. Nothing changed. Then they said it was my computer. So I bought a better computer. Nothing changed. On every computer I traded at my house and elsewhere the problems persisted. They blamed me. Never responded to the many screenshots they asked for. Then I was asked for my login password so they could "see things as I saw them". For some reason screen shots weren't enough. Then the credit card I used only on the platform had money stolen from it. I got a new card from my other bank and again only used for my trading account and it happened again. My bank refused to allow me to use the card with CMC. Not that I wanted to. It was the most frustrating, demoralising experience I have ever had. It is hard enough learning to trade forex but to have to contend with dramas like this virtually every day, it was...I don't even have the words. During the day it was bad enough but after by London open it got increasingly worse. And the lag is so bad during the US session that I just gave up. One night it lagged 19 minutes behind. I had to use prorealtime charts just to see what was happening. When I rang CMC about the problem they said the lag was because I had CMC and PRT open at the same time. They said to close PRT. I did but nothing changed. And I was trading blind. I was on a one minute chart. My crosshairs stated the time and gave candle info as if each candle was a second not a minute. The clock on the platform and the candles froze. I logged in and out, cleared the cache, all the things they said to do each time and nothing changed. Finally after a few logins the missing 20 candles reappeared. It was appalling. And being a beginner I had no idea this wasn't normal. I had asked them to open another account for me. They refused, saying it was something to do with me, or my computer or internet etc. If only I had had someone with experience to put it all in perspective. I learned the hard way. Trading forex is a piece of cake now that I am with IG. The charts are brilliant - you can read them, which you just can't on CMC - and I have not had one issue with the feed. And my stops just don't get blown. If only I had known then what I know now. CMC has the very worst charts, price, feed, reliability and customer service. Nothing ever gets resolved and it's the trader who loses out. Stay way. Go to professionals. Not scammers like this company.||Max||05.05.18|
|I have been day trading for a living since 2007 and been making a comfortable living I decided to give CMC markets a test noticing all the rumours floating around. I found that all too often my stops where being taken out time and time again just by or beyond 1-2 pips? or time and time again quotes and spreads would change the new next gen platform were good to start with then things started to get glitchy with odd FX movements when compared to actual or real market time movements. I accept that losing money is apart of this game but alarm bells began to sound in my head when I went from 8 out of 10 successful trades to 10 out of 10 unsuccessful trades 4 days in a row that with a certain amount of unreliability with the platform and all of the extremely suspicious stop hunters I called it a day with CMC markets. |
Has anyone else found this to be true too?
|hopeless platform, freezes and hangs when markets volatile making it impossible for you to enter or cut a position. Only good for end of day or non-volatile markets. If you do not want to lose money because software hangs/switches it would be be well advised for non-experienced to stay away. They have stopped using the sudden widening of spread trick which will take out your stops. looking for new broker||tel||27.01.18|
|SCAM||CMC Markets must be using similar tactics that FXCM got caught and fined for. Using a program that hunts stops and delays order execution etc in their favor. I remember many years ago when I started trading currencies I could not understand how unlucky I was when my stops would always be taken out! And I'm taking about, every time and price would just move enough to close my position - to the very pip before reversing. NOW I UNDERSTAND WHAT WAS HAPPENING ALL THOSE YEARS AGO! Frauds & Scammers!||F||23.01.18|
|SCAM||There are so many things I hate about CMC that I'd feel better writing what I like about them.|
1) They have a nice colourful platform (CMC NextGen platform)
2) Their staff is polite - at least, more polite than other brokers' staff. Of course, they are also very condescending.
I am a professional trader. I KNOW all the stuff about technical analysis, money management, position sizing, stop losses, etc. I make money when I trade via regular brokers.
I opened a CMC account to hedge - eg when regular markets are closed; eg to go short easily without loaning stock.
I have lost so much money on CMC over a few years that it isn't funny.
Let me reiterate the key points:
1) Their prices don't reflect the real market. Even Dow Futures can be 1% off at times. Hello, 1% off Dow, more than 140 points. HUH?
2) They love to run your stops. Do you guys know what a long tail doji or dragonfly is? When Dow trades in a tiny range, CMC can give you a long tail doji where they happily trigger your stops over 100 points away from where the futures cash market traded. Don't waste time quarreling with them. As I've said, they are very polite - and condescending.
3) They have slippage like nobody's business, and it can happen even in an orderly market where the freaking stock DID NOT MOVE ALL DAY IN THE UNDERLYING MARKET!
On CMC, the stock conveniently moved up in one of CMC's characteristic price spikes and triggered my stop and I was stopped out at a price 5% above the day high during some mysteriously illiquid point of day.
I'm not talking about regular market volatility here - I don't get that kind of slippage on regular brokers who actually go into the cash market.
4) If there are mistakes (eg wrong feed; price not working, stock split not reflected, all kinds of weird stuff), you have to take forever to prove it to them.
One time they made a mistake and admitted it. It took them 2 months to refund me money that they took from me up front. TWO MONTHS!
5) They constantly change the rules of the game. On average I got 1 new email every month informing me of a whole bunch of changes. New fees, new rules, new limits... the playing field is already tilted 90 degrees in their favour and they still want to plant cactuses where I am running.
6) Even though they are market makers, they make you pay for data feeds which cost them nothing to conjure out of thin air.
7) Their NextGen platform is very unreliable. I started with MarketMaker which was a betterplatform until they ended support for it. I have 4 other brokers (all regular guys in the cash markets) which manage fine. Apparently CMC preferred to have its less reliable NextGen platform because it allows them to tinker with the 'rules' more easily - they'll change spreads and margin requirements suddenly.
I have just terminated my business relationship with them. There is no way you can make money from CMC unless YOU ARE AN IRRESPONSIBLE TRADER.
EG I've actually had a friend, a normally conservative trader on his other accounts, who opened a $4000 account, leveraged it to the max during a momo period, rode the momentum stock up, pyramided with no stop losses and closed out for a $143,000 profit after 8 months.
CMC is absolutely great for this sort of thing because your losses are limited to $4k.
If you want to make money consistently and not have some scammers play your stop losses, AVOID THEM LIKE THE PLAGUE!
|SCAM||They start to charge "Price data feed" for shares on 01Dec2012. |
As long as you buy shares thru CMC or still holding position, they charge you "monthly".
Totally Hate It. Closed my account today!!!
|SCAM||Frequent Requotes, huge spreads, platform freezing... crap.|
I was making money with CMC and they started playing with my platform until I was cleaned out.
|SCAM||They scam not all,but selected individuals. While i were trading on their platform it frose completely, then when it starts working again you realize that you lost thousands.. they destroyed my life!! i lost almost R100 000 in a month trading with them.. i hate CMC Markets Iquote trading. They make false promises but really they dont give a damn about you.||CMC Markets s*cks!||26.07.17|
|SCAM||It's a scam .....yesterday@18:03 london time while price was around 1.1955 a very long candlestick over 1.36 for one instant.....is a lot of time that|
they catch all my stoploss, but yesterday I had the confirm that they manipulate charts
|SCAM||Big scam of a company, i cancelled a stop loss and they executed it. Lost over 150k in 2 weeks. Do not use these scammers, system always has problems, ofcourse in favour of cmc.Worst scammers outthere.||A||20.03.17|
|SCAM||They wouldn\'t offer me 1:10 leverage or even 1:20 leverage, all they gave me was 1:100 and 1:200 leverage, clearly bs, but all these forex scams are going to go bust due to the banning of short selling. Why? The psychology of markets has changed, more likely to be artifically inflated, and thus if everyone goes long with enough capital CMC will go bankrupt.|
However the problem is that they will pull every trick such as fake quotes and so on. The forex scam will never die, so be careful everyone!
|SCAM||CMC Markets runs a wire siphoning scam. They brokered a backroom deal with Natwest bank to skim undisclosed wire fees from wires that enter and leave CMC's Natwest bank account. |
The amount you send is not what appears in your account, even if you are in the domestic SEPA region. And when you withdraw funds, you are shorted then too, by an different undisclosed amount.
* False advertising
* Misleading sales practice
|SCAM||It is a scam. There is a huge difference between demo and real trading. What they promise on their web site - fast execution and tight spreads - you will see on demo only. In reality requotes are all the time even if the price stays within 15 seconds on the spot.|
For example, I wanted to sell at .6098 price moved to better .6101 but they offered .6010. Pending orders don\'t work properly as well. You will enter to the market using pending order if the price moved 15-20 pips further. So no way to earn money with CMC for both scalpers (slow execution) and long term traders (you will close profit positions with requotes and 20 pips less results). Also do not trust those who leave good reviews. They connected to CMC. Stay far away.
|You may see my earlier review above. This review is an update as I would hate for people to make a judgement on my earlier review alone. In short, the software behavior changed in an instant from my earlier excellent execution to extremely sluggish execution, with price re-quotes nearly guaranteed upon clicking buy or sell. I have received repeated warning (3-4) through the platform from the dealers who object to my \'excessive\' news trading activities and who have indicated they may not be able to continue offering me service if I persist. Am I still with them you may ask? The answer is yes. Why? Because despite all the terrible service I am getting now, I am still making money trading with them believe it or not. Just this month I was transferred to their \"advantage pro\" service which is a service reserved for high volume traders such as myself. Nothing has changed in terms of service quality through the platform - it is generally abysmal during US and European trading hours, but not too bad during the Asian session. During my nearly 2 years with CMC Markets I have placed 1000\'s of orders and despite continuing to make money I am not blind. I hope this update puts my initial review into perspective.||Grant||11.06.16|
|Nearly 10 months of trading with over 500 orders placed and I find CMC excellent in service and trading platform. After reading some other adverse reviews of forex brokers I'm relieved I started with CMC. The platform works fine but you need about a gig of ram with xp to be ideal. It is certainly okay with 512 ram but 1 gig is the ideal. Old computers may have lock up issues. I was running win2k with 256 ram and it worked okay 98% of the time but locked up once. Its your own fault if you trade on an old computer. CMC don't have horrible spread fluctuations which i find excellent. I couldn't stand spread fluctuation after having constant spreads. Orders are executed rapidly althoug pending orders can take a couple of minutes to find out price of execution in really heavy trading times. |
Overall, two thumbs up.
|Hi folks out there, I've been trading for about four years, I'm currently with CMC markets but I'm sick of getting requotes (never in my favour).|
Can any experienced traders out there name an honest firm to do long term business with.
cheers and thanks
PS I'm one of those really heard of traders that actaully makes money.
|Works most of the time with share spreadbetting. However - once I lost my connection 5 seconds after my first trade for weeks, a very short term volatility play, that was supposed to last about 30 seconds. I finally closed my position about 3 minutes later. Much more worrying though was a pending stop order was triggered when the displayed screen price was nowhere near the stop. What's more, my pending blotter didn't register the fact that this had occurred until minutes later when I placed another trade. Could have lost a small fortune if the market hadn't turned suddenly and saved my butt. This may have somehow been caused by a poor internet connection but I don't feel I can trust the software anymore so will be looking for a new account elsewhere. Software slow under XP 512MB - must be badly written as hangs when it's not even doing much.||MNR||05.05.16|
|SO far so good, been with them for 6 months, the platform could use an upgrade, but I hear one is in the works. Spreads and customer service are solid.|
I haven't seen any orders hunted as yet. I recommend you check them out.
|I WAS a client of CMC Markets, that is until after they shut down in 9/2008. Too bad- they had a nice platform with great technical analysis studies that could be saved. I have struggled to find a broker who has a similiar platform. Forex.com stinks and i tried another demo fortex.com which also isn\'t that great. Does anyone know of a good US-regulated Forex broker?||Mark Pope||17.02.16|
|they are hnest but They don't have most of important tools such as trailing stops, .. no stop and limet in one click u have to do three order to get it.||samer||13.02.16|
|Customer service: 4 stars. Software 2 stars: run Markets-Pro on Mac OSX w/ Parallels and am unable to place Linked Orders. ||CFDumbMoney||10.01.16|