CMC Markets Spread Betting Review

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1.1 stars
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lifeguard1's Review of CMC Markets Spread Betting

13th Dec 2008

Overall Rating

1 stars
  • Value for money
    1 stars
Good Points

£100 free after completing two trades (Have to keep ringing them to get it deposited into your account mind).
Digital Look partner site.


Bad Points

Poor quote system.
Information feed.
Helpdesk could be improved.


General Comments

When I place an order their system it often requotes mainly when if it seems to be in their favour and not mine. This doesn't happen with my Selftrade account and it gives you 10 seconds to confirm the price. Suppose this is because I think Selftrade takes a flat trade fee and doesn ' t behave like a fruit machine trying to take your money. There are comments saying that the spreads are narrow (average in comparison) but there is no point of having this when you can't place my entry/exit points well because of the quote system. I certainly believe that if this didn ' t happen I would have been more profitable. Also I found the system would log me out and not let me in sometimes. One time it happened I called the helpdesk to place a limit buy because I couldn ' t get in the system. The advisor was not very helpful. They suggested the problem was at my end and it was the internet program I was using even though I had tried it on Safari (on my Mac) and on Internet Explorer on a PC. He then speculated it was a problem their end. I then asked if a could place a limit buy on the phone and they said it could not be done outside market hours, but after saying that is the whole point of them he referred me to the trading desk. Suppose this was because I phoned at 9.30 pm in a panic. The trading system seems poor and is not user friendly. I can't get it to give me streaming prices for oil, US stocks, indices etc, so I'm shooting in the dark and have to refer to other streaming sites. It is supposed to be live level 2 but even for UK stocks the live data charts are very basic. In fact a friend who joined a week before me has not received his introductory £100 yet. I tend not to complain about things and am a reasonable guy but what I said here is fair I think.

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