CMC Markets

This is how unpredictable forex trading can get. See the price spike in the superimposed screencap of a minute chart? That was a quoted price spike for the Euro / US dollar currency pair in the CMC Markets trading platform "MarketMaker". Why am I concerned? Because it was a 40 pip movement in that minute. So what? Well, if you were short, and you had a stop loss in that range, your trade would surely have been stopped out early. The question remains as to why did this price spike show up on only the CMC Market maker software but not on the alternative forex dealer?

My pet peeves about CMC Mobile MarketMaker; no charting facility is a big downside as well as weak mobile phone reception: CMC Mobile MarketMaker is a smart innovation by CMC Markets the giant CFD provider. I say "smart" because this tool 'helps' traders with their business of trading and also 'helps' CMC Markets' bottom line. Although CMC Markets Mobile software is practical and useful, as a trader you are simply introducing yet another trading risk if you choose to trade with this tool which is widely available for GPRS enabled mobile phones.

I think this piece of software is a very smart move on behalf of CMC markets, probably the biggest CFD provider in the world. Personally, I think Mobile Market Maker is simply another route of temptation to overtrade. And when you overtrade – who wins? The broker, CMC Markets of course. Others may argue it is a win-win situation since CMC Markets practically invested their efforts in this mobile phone software so traders can trade wherever they want whenever they want.

Every order that goes through the CMC Markets system is given a sequential number. I found the numbers interesting because given that it was 11pm at night, and the Aussie Markets were closed (while the US markets were just opening), the difference of both my orders to enter and exit the trade was 1676. That means 1676 transactions in the CMC markets platform was performed in the 30 minutes I was in the market. I wonder how many orders CMC markets process every day?