Forex Reviews and Recommendations

CMC Markets

8/23/2009

3 of 3 customers found this helpful (100%)

Pros:

None

Cons:

None

Bottom Line:

No, I would not recommend this to a friend

Quote:

CMC is a broker that I mainly used for FX spread betting, but I have run a spot account there too. In general it was a positive enough experience and I found the facilities conducive to good, effective trading. I assume these guys have a dealing desk because sometimes there would be too many rejections and re-quotes for a serious trader to contend with. What I don't understand about brokers with dealing desks is why they try to trip up successful traders who are making money. Why don't they identify the good traders and let their orders go through directly, and only trade against those who are losing regularly? That way good traders are recommending the service while the broker can carry on the slightly distasteful business of rejoicing in the losses of the rest of their book. CMC could have been great, but they need a different approach.