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CMC Markets Australia, System Status / General Discussion
post Posted: Feb 18 2013, 05:47 PM
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In Reply To: arty's post @ Feb 12 2013, 03:43 PM

Yes, you are right, there is now no such thing as an At Market order. It was replaced by Market to Limit. CMC operate a 3 price levels rule, so anything over that and you end up with a limit order. What a joke. Just imagine a 3c difference on a high priced stock like CSL. Laughable. That rule goes from $2 to infinity with a 3c rule. Ridiculous.

post Posted: Feb 12 2013, 10:04 PM
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In Reply To: arty's post @ Feb 12 2013, 03:43 PM

Much more than a year ago,i put an order in 2 sell 4,000 shares in dtl at above $15 and comsec did not fill the order and i wanted to go out and did not want the overhang but on ringing them was informed they would not fill the order as it could have put pressure on the stock.

I asked if they would compensate me if they fell further but no was the answer,yet my sell order did NOT appear on the screen and any poor unsuspecting trader that bought that morning had no idea of my sell order sitting on the sidelines that was being filled, i ended up with a slightly better price but i would have been happy with the at market price,very suss i feel,cheers mrbear

post Posted: Feb 12 2013, 03:43 PM
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In Reply To: seeto's post @ Feb 12 2013, 11:31 AM

Check the ASX rules;
I'm quite sure they've restricted the use of "at market" orders about a year ago; some brokers have subsequently chosen to only accept Limit orders.

I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
post Posted: Feb 12 2013, 12:10 PM
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In Reply To: seeto's post @ Feb 12 2013, 11:31 AM

They all do it not just cmc ,it depends on the stock and liquidity.

Somehow they deem that you are trying to move the market with your trade and limit your order but they also will not compensate you if the price falls further than you would have got with the first up price,fun hey,cheers mrbear

post Posted: Feb 12 2013, 11:31 AM
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When is an At Market order not an at market order? When it is placed with CMC Markets.

Today my at market sell order was automatically converted to a limit order where it sat waiting to get hit. The broker I spoke to told me I would have to amend my order to get filled. They wouldn't accept that their system is at fault. It even sat in the order queue as an At Market order. What a joke.

CMC, not impressed.

post Posted: Jun 11 2009, 09:25 AM
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Just starting out learning about CFDs currently doing the short info course through CMC markets. Wondered how the more seasoned CFD traders are going in this tough market? Thanks for any advice

Share Cafe Sentifi Top themes and market attention on:

post Posted: May 23 2009, 08:16 AM
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Is this bucket shop still going lol?

I confirm that am not a licensed investment adviser , or have any formal training, to give investment advice. Therefore you must seek professional advice. I may hold this stock. Jesse Livermore is my Hero. Australia is the next Iceland!
post Posted: May 23 2009, 07:24 AM
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In Reply To: Sagitar's post @ Nov 9 2008, 08:45 PM

Does anyone have experience of a MM CFD providor increasing the margin rate for a stock (10% to 20%) for no apparent reason?

Is this the MM way of limiting their losses when a stock is having a good run?

regards, EB

post Posted: Nov 9 2008, 08:45 PM
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In reply to: Brierley on Thursday 06/11/08 03:50pm

Hi Brierley and co.,
I found this site very helpful when looking for a CFD provider. Compares most (if not all) CFD providers here in Australia, including everything from DMA accessability through to fees and features. Hope it helps.
Sagitar wink.gif

post Posted: Nov 7 2008, 09:48 AM
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In reply to: King Baz on Thursday 06/11/08 06:27pm

[QUOTE] It is easy to place an ambitious bid in the direct market and take the equal but opposite position by two cfd providers and then pull the bid from the direct market. Grabbing 5% from the spread on the way in and then the same on the way out is bloody awesome. However only works with smaller less liquid stocks, and only in small parcels).

I wouldn't dream of such a thing !! hypocrite.gif
Another good payer lately has been searching for huge gaps in the sell side of the market depth with good buyers & no gaps while it is at the intraday low (or near). Wait till its obviuos someone is going to take out the whole ask on top of the queue to create a small run through the sellers. As you say only works on illiquid targets with small holds. You don't even have to bother with placing & pulling dma orders.
5% + is not too hard & only takes a few minutes sometimes & your out biggrin.gif
Works even better in the opposite direction but they cruelled it with the short ban atm.
Lots of small wins make for a big day sometimes. It takes a lot of sifting constantly though watchlists but worth the effort.


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