CMC Markets Banning - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


CMC Markets Banning
Updated: Views / Replies:10,417 / 28
Created: by scarr Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

CMC Markets Banning

  #1 (permalink)
Trading Apprentice
Preston
 
Futures Experience: Intermediate
Platform: None
Favorite Futures: FTSE
 
Posts: 12 since Aug 2011
Thanks: 0 given, 0 received

CMC Markets Banning

Hi All,

Well I have been working on a system that appears to make good profits. I intend to use CMC markets when I go live and I have lost 30k to CMC in the early days when I was a little green. My question is if I start to win, lets say 10k per week based on short fast trades on the FTSE (I am not scalping in anyway, I am using thier price from thier website) will they ban me, more improtantly "CAN" they ban me? I would find it hard to believe they can as they were happy when I was loosing and as I am totally playing by the rules what right do they have to ban me?

Regards

Steve

P.S. Does anyone actually know anyone who has been banned?

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,139 received


Clarified title, and moved.

 
Thread Moved


Moved to Brokers



When creating a new thread, note which subforum you are in. Here is a short list of suggestions:

- Topic: Anything to do with an Elite indicator -> Subforum: The Elite Circle
- Topic: Looking for an existing indicator, or how-to use an indicator -> Subforum: (the platform)
- Topic: Programmer needing help with non-Elite indicator -> Subforum: (the platform) - Programming
- Topic: Want an indicator created/modified -> Reply to "Want indicator created free" in Elite Circle
- Topic: Vendors (trading rooms, commercial indicators) -> Subforum: Vendors/Product Reviews
- Topic: Discussion of Forex or Currency trading -> Subforum: Forex and Currency Trading
- Topic: Journals of your trading -> Subforum: Trading Journals or Elite Trading Journals
- Topic: General trading related discussions -> Subforum: Traders Hideout
- Topic: Discussion of a trading method -> Subforum: Traders Hideout
- Topic: Automated Trading -> Subforum: Elite Automated Trading

Last, any Elite Member may create more or less any of these topics in The Elite Circle at your own discretion (your support is appreciated).

This is just a short general list and doesn't cover everything. If you are unsure where to create your new thread, just create it in Traders Hideout and a moderator will move it if necessary.

-- Big Mike Trading



Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #4 (permalink)
Elite Member
Germany
 
Futures Experience: Intermediate
Platform: MT4, StrategyRunner
Favorite Futures: ES,EUR/USD,Oil
 
TheSeeker's Avatar
 
Posts: 123 since Dec 2010
Thanks: 64 given, 65 received

Scarr, I take it you trade CFDs on the FTSE Index ? I'd rather trade the real product, i.e. FTSE 100 futures on Euronext. You'll need a broker that let's you trade these products, e.g. Interactive Brokers.
An alternative would be LMAX which supposedly doesn't take the other side of your trade so there shouldn't be a conflict of interest. It's an alternative since the contract size is relatively small compared to the futures contracts, so you can test your strategy without losing a truck load.




I have an account with CMC...made some money, lost some money and never experienced any problems apart from slippage and a slow, klunky platform. I don't think they will ban you, should you make money on a regular basis. It's just you are paying way too much on each and every trade due to the spread.

Reply With Quote
 
  #5 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
Platform: NinjaTrader, MT4
Broker/Data: Amp/CQG, Citibank
Favorite Futures: CL, GC, 6E, ES, TF, EURUSD, GBPJPY, AUDUSD
 
Beljevina's Avatar
 
Posts: 346 since Sep 2010
Thanks: 378 given, 562 received


scarr View Post
I intend to use CMC markets when I go live and I have lost 30k to CMC in the early days when I was a little green. My question is if I start to win, lets say 10k per week based on short fast trades on the FTSE (I am not scalping in anyway, I am using thier price from thier website) will they ban me, more improtantly "CAN" they ban me?

If you're worried about this, I question why you insist on going with them. There is so very little opinion about CMC in the field that I am surprised they maintain a retail operation - it's just very rare that anyone trades with them I find.

Although they are a market maker, your trades should be flowing through to the real market - with the premise of retailers like us trading for profit, banning you based on real market buy and sell prices makes little sense, as their profit is supposed to come from transaction charges.

Having said that, their platform is downright awful and grossly non-standard IMHO (java based) - there are no indicators beyond the few they give you, and thus little support and benchmarking. Their GUI is downright repulsive and far too non-standard and inconvenient, I find. The worst of it is they display no volume statistics (at least that was the case last year) - they did not even have a basic volume indicator and no ability to display it for any instrument. I find this grossly concerning, bordering on criminal, and thus displaying that they do not want their retail traders to have any "edge." Volume can be exceptionally helpful in finding turning points. I spoke to their rep about it when I was looking for a futures broker, and rather easily justified why a serious trader would not choose them with volume data purposefully omitted from their platform - at the end of the day, he was aware who signed his paycheck and I obviously chose a proper broker.

Reply With Quote
The following user says Thank You to Beljevina for this post:
 
  #6 (permalink)
Trading Apprentice
Preston
 
Futures Experience: Intermediate
Platform: None
Favorite Futures: FTSE
 
Posts: 12 since Aug 2011
Thanks: 0 given, 0 received

OK maybe my question should be....

Thanks everyone for the quick feedback, as I have based everything around CMC I think I have to start with them (at least to get my 30k back + 30k profit) so maybe my question should be who should I use without fear of getting banned or stopped if I won time after time after time and in the 10's of thousands per month? it would have to be FTSE CFD's well for now.

Thanks

Steve

P.S. this is intraday between 30seconds and 90mins usually 5mins

Reply With Quote
 
  #7 (permalink)
Elite Member
Germany
 
Futures Experience: Intermediate
Platform: MT4, StrategyRunner
Favorite Futures: ES,EUR/USD,Oil
 
TheSeeker's Avatar
 
Posts: 123 since Dec 2010
Thanks: 64 given, 65 received

If you're making tens of thousands each and every month you'll have to trade futures.


BTW, I once had a strategy on paper with which I should have doubled my account every other month. That was over 10 years ago. I'm now thankful if I can make maybe 10k per year through trading in addition to my day job. Moral: don't get too excited, it's not that easy. Good luck.

Reply With Quote
 
  #8 (permalink)
Trading Apprentice
Preston
 
Futures Experience: Intermediate
Platform: None
Favorite Futures: FTSE
 
Posts: 12 since Aug 2011
Thanks: 0 given, 0 received

Update

Hi Seeker,

This is not on paper it is using thier demo account I have been testing it on, which I hope I beleive is exactly the same as the live account, monitoring them side by side they appear to be.


Seeker, why do I have to trade futures, if like I said this is proven with daily cash and my system did make 30k (real money) in three weeks on CMC but I got too big for my boots and got into silver without enough knowledge and burned the profit and more but I am now ready to use system again and keep away from stuff I have not reserched!

I have downloaded interactive brokers and "phew" lot in there! my initial question would be are winnings via this taxable?

Also my initial question stands and that is, will / can I get banned and does anyone actually know someone who has been banned or know 100% this will happen on CMC or any other spread betting site.

Thanks

Steve


Last edited by scarr; August 21st, 2011 at 09:02 PM.
Reply With Quote
 
  #9 (permalink)
Elite Member
australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: -
 
Posts: 300 since Sep 2010
Thanks: 123 given, 137 received

I don't think CFD brokers business model is to earn money through their customers losing money. When you take a trade most likely there will be someone taking the other side of the trade or the broker would simply take the same trade as you in the underlying instrument.

Their main income stream should be coming from the spread and transactions fee. Look at their spreads, it is way larger than the futures. They can simply replicate their combined customers trades in the futures market and still make money regardless whether the customer earn or lose in their trades.

The only reason why someone would trade indices using CFD is because they want to trade a smaller position than what the futures allow.

Reply With Quote
 
  #10 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,235 received



scarr View Post
Hi Seeker,

This is not on paper it is using thier demo account I have been testing it on, which I hope I beleive is exactly the same as the live account, monitoring them side by side they appear to be.


Seeker, why do I have to trade futures, if like I said this is proven with daily cash and my system did make 30k (real money) in three weeks on CMC but I got too big for my boots and got into silver without enough knowledge and burned the profit and more but I am now ready to use system again and keep away from stuff I have not reserched!

I have downloaded interactive brokers and "phew" lot in there! my initial question would be are winnings via this taxable?

Also my initial question stands and that is, will / can I get banned and does anyone actually know someone who has been banned or know 100% this will happen on CMC or any other spread betting site.

Thanks

Steve

This sounds like train wreck waiting to happen, I'd suggest you stop before you find yourself living in a cardboard box...

Scalping CFDs is lunacy, why would you subject yourself to that spread? Trading the futures is the only solution for that kind of trade frequency... Most people trade CFDs because they're undercapitalized, but it seems you might not have that problem. If so, why subject yourself to the extra expense per trade?

As for having to make your money back from CMC before switching to another, you do understand you are trading the same underlying? You talk about "winning" etc... Treat trading like gambling in a casino, and you can easily make $30K in a few weeks, but don't worry, you'll lose it all soon enough...

I only say this because I don't want that to happen, don't take offense to post...

Reply With Quote
The following user says Thank You to Lornz for this post:

Reply



futures io > > > > CMC Markets Banning

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

Dec 7

Linda Bradford Raschke: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Why Banning Short-Selling 'Doesn't Do Any Good' Quick Summary News and Current Events 0 August 12th, 2011 07:40 PM
Do futures markets drive the underlying markets? martifc Traders Hideout 9 December 31st, 2010 10:50 AM
What markets are leading the others? ikeaboy The Elite Circle 16 November 29th, 2010 09:24 AM
how do you think markets work? darthtrader3.6 Traders Hideout 21 August 13th, 2010 08:47 AM
Derivative Markets TheWizard Off-Topic 1 May 17th, 2010 11:59 PM


All times are GMT -4. The time now is 10:10 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-11-18 in 0.13 seconds with 19 queries on phoenix via your IP 54.80.157.133