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Aug 14, 2019,
Manipulates order timing to maximize their spreads at the cost of your fund
Service use: Live
Length of use: 0-3 Months
This company arranges their trading software to ensure timing of order execution works to maximise their fees and charges while costing daytrader's opportunities, as it delays or rushes execution based on market movements. Do not use this company.
Jun 20, 2019,
Total failure to assist
Service use: Live
Length of use: Have not used
I have tried for 4 weeks to open an account with this firm. Initially their software malfunctioned and entered my birth date incorrectly so I could not verify myself. They suggested i open a new account and again the software entered my birthdate incorrectly but i was able to correct that this time. However, there was an inordinate delay in activating my account in my name even tho i sent them a certified copy of my drivers licence. Each time i spoke to them they assured me that they "would expedite my application' but nothing happened. So i have now cancelled my application and will open a trading account on another platform. Hopeless customer/client relations!!!
I have received the payment.. but very poor communication. Yesterday after my last feedback here + scam folder they have confirmed to have sent me the bank wire (today received)
Jun 17, 2019 - 1 Star Account: 17078085 Hi, it is indicatively from a month (from when cmc has changed its mt4 server) that my account has some problems: 1) I can not trade (every time with every currency) a trade goes to ''offquotes'' 2) Is not possibile to see the history from mt4.
I have asked (10-15 times) by email and by chat the reason...their answer is '' your account is under verification'' but after one month nobody explain me the reason. I have decided last week to ask a withdrawal....i see that money has been removed from my account but I HAVE NOT YET RECEIVED IT!!!!! I have asked the reason and their answer is '' account is under verification''...no others details... Sincerly i think that cmc is near bankruptcy and it doesn't want to pay my deposit.
CMC Markets platform is based on the market maker principle - that is CMC Markets synthetically creates market prices that is best aligned to their bottom line NOT YOURS. Pricing for stocks, indices, currency, bonds etc are not precisely correlated to actual market conditions so spreads and offer prices can trade according to CMC discretion (stated in their Terms & Condition) often opposed to your financial interests. Put simply, CMC Markets trades against you. When (not if - as 80% of CFD traders lose money) you lose say $10,000 CMC directly pockets $10,000 in addition to margin costs, brokerage and other fees. Your risks are magnified when trading against a market maker model (CMC Markets) because you are subject to market maker pricing risk alongside typical market conditions. In practice, this can often result in being conveniently stopped out during volatility periods (even though underlying prices never trade near your stops) and receiving poor offers when you try to exit a trade as CMC Markets may be the only significant buyer/seller - what choice do you have on pricing and volume when CMC Market dictates the spread/volume and not natural market forces? It's simply not worth the risk given trading is difficult already without the actual platform provider actively working against you in the background. Best to move to DIRECT MARKET ACCESS (DMA) PROVIDERS. With DMA providers you are not operating against an opaque black box matrix algorithm but deal directly with the real marketplace and its individual buyers/sellers. The DMA providers are simply brokers so it's fair to say the longer you stay in business with your capital intact the better it is for them as they can continue to charge a brokerage commission. With the Market maker model they achieve maximum profitability when you lose your entire capital similar to the Casino model. Trading is difficult enough, why enter into an agreement that is already stacked against you from the beginning? YOU HAVE BEEN WARNED!
newzealand, New Zealand,
Sep 22, 2018,
I trade countdowns with cmc. and notice they change the expiry times a lot. i have also noticed that other brokers dont you can trade a 2minute or 5 minute.24/7. . so if other brokers can allow it. why cant cmc markets. and is it legal to change the expiry times when ever there feel the need. any one in NZ trade countdowns and have noticed.