ok got my login detail from CCM but here’s the kicker they say i can login to TALLINEX mt4 platform if that’s more convenient, hmm
Absolutely, NewGuy
Please keep us updated on your experience with LMFX.
Results from live accounts represent [I]the most useful info[/I] posted in this thread.
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Done deal, I will research the brokers you have on list and will share my findings.
It’s hardly a “kicker”, Moe, and maybe time to abandon the conspiracy theories 
You can actually log in to any MT4 broker with any other broker’s version of MT4 - the point of the statement was that many clients have myriad EAs, indicators, scripts and templates installed so reinstalling everything to a new platform with market open fast approaching is not always going to be viable …hence the valid suggestion to use the platform they already had set up.
I want to give CCM a fair chance, but here’s what I see just
casually commenting. I’ll post some stats on spreads later,
but looking at GBP/JPY for example, CCM’s Bid/Ask spreads
appear to be 2-3 times wider than TradersWay. This is as
poor as Tallinex from which the account originated.
[EDIT: I think I made a mistake and their leverage offer is 500:1 which is OK]
Their leverages on the “Standard” account are XXX:1 and I
believe that to be competitive, they need to double that.
Their minimum funding, if it is $2000 is excessive, so they
will need to be flexible on that, and permit testing at levels
of $100 or less.
Their restrictions on minimum lot size 0.10 with increments of
0.01 above that, mean I will have to recode portions of my
software.
I haven’t tested Execution Latencies or Consistency, and I won’t
unless I can do it with $100 or so in the Live account. I won’t
test such things against a DEMO account.
I DON’T SEE THEM BEING COMPETITIVE, BUT IF A REPRESENTATIVE
FROM CAPITAL CITY MARKETS WANTS TO COMMENT, THEN
LET’S ALL LISTEN.
hyperscalper
I am not sure where CCM has its backend servers, but it doesn’t
seem they are in Amsterdam. For TradersWay and FinProTrading,
our Amsterdam located VPS systems see 1 millisecond to the
servers.
For CCM’s MetaTrader, the latency to the servers is 70-80 ms.
Limit Order placements are pretty quick, coming in at 140-155 msecs
so if you could locate your software near their servers, then you
would see times of roughly 150 - 70 = 80 msecs order placement
times maybe.
Executions I can’t test with an unfunded account.
For me to use CCM’s facilities, as compared to TradersWay or FinProTrading,
I would have to have 3 out of 4 of the following items changed:
-
drop the minimum trade size complexity which affects my software,
and slave copying volume scaling algorithms. -
double the leverage to 400:1 for automated, protected trading
[EDIT: I think I made a mistake and their leverage offer is 500:1 which is OK] -
tighten the spreads, reducing them by 30 - 50%
-
reduce the minimum equity requirement to around $300-$500 for
"standard" MT4 variable spread plus commission accounts.
hyperscalper
Preliminary data about CCM Forex spreads,
minimum, average and maximum PIPs
but these observations are during the Asian
session.
[EDIT: Added Tradersway’s spreads during same
period further down, for direct comparison.
hyperscalper
CCM Spreads during Asian session
approx 03.00 GMT so wider than
would be seen in more active
conditions.
symbol min , avg , max spread pips
AUDCAD, 3.0 , 3.1 , 3.2 ###
AUDCHF, 2.9 , 3.0 , 3.0 ###
AUDJPY, 2.4 , 2.6 , 2.7 ###
AUDNZD, 2.9 , 3.2 , 3.4 ###
AUDUSD, 1.6 , 1.8 , 1.9 ##
CADCHF, 2.8 , 2.8 , 3.0 ###
CADJPY, 2.4 , 2.6 , 2.7 ###
CHFJPY, 3.0 , 3.0 , 3.1 ###
EURAUD, 2.7 , 2.9 , 3.1 ###
EURCAD, 3.0 , 3.1 , 3.2 ###
EURCHF, 2.1 , 2.6 , 3.0 ###
EURGBP, 1.9 , 2.1 , 2.2 ##
EURJPY, 1.9 , 2.1 , 2.3 ##
EURNZD, 3.5 , 3.8 , 3.9 ####
EURUSD, 1.1 , 1.3 , 1.5 #
GBPAUD, 3.9 , 4.2 , 4.4 ####
GBPCAD, 3.8 , 3.9 , 4.0 ####
GBPCHF, 3.5 , 3.6 , 3.8 ####
GBPJPY, 2.6 , 2.9 , 3.1 ###
GBPNZD, 7.8 , 8.4 , 9.5 ########
GBPUSD, 1.5 , 1.7 , 2.0 ##
NZDCAD, 3.1 , 3.1 , 3.2 ###
NZDCHF, 2.7 , 2.9 , 3.0 ###
NZDJPY, 2.5 , 2.7 , 2.8 ###
NZDUSD, 2.1 , 2.2 , 2.3 ##
USDCAD, 1.8 , 2.1 , 2.3 ##
USDCHF, 1.8 , 2.1 , 2.2 ##
USDJPY, 1.3 , 1.4 , 1.6 #
TradersWay Bid/Ask spreads during the same
Asian session by way of direct comparison:
symbol min , avg , max spread pips
AUDCAD, 0.5 , 1.3 , 1.6 #
AUDCHF, 0.8 , 1.1 , 1.3 #
AUDJPY, 0.4 , 0.9 , 1.2 #
AUDNZD, 1.1 , 1.4 , 1.8 #
AUDUSD, 0.3 , 0.6 , 0.8 #
CADCHF, 1.5 , 1.7 , 1.9 ##
CADJPY, 0.7 , 1.0 , 1.2 #
CHFJPY, 0.5 , 1.0 , 1.3 #
EURAUD, 0.4 , 1.1 , 1.5 #
EURCAD, 0.7 , 1.2 , 1.6 #
EURCHF, 0.5 , 0.8 , 1.1 #
EURGBP, 0.4 , 0.7 , 0.9 #
EURJPY, 0.3 , 0.7 , 0.9 #
EURNZD, 1.5 , 2.1 , 2.3 ##
EURUSD, 0.1 , 0.3 , 0.4
GBPAUD, 1.1 , 1.8 , 2.4 ##
GBPCAD, 1.8 , 2.1 , 2.4 ##
GBPCHF, 1.6 , 1.8 , 2.1 ##
GBPJPY, 0.9 , 1.3 , 1.6 #
GBPNZD, 2.5 , 3.1 , 3.2 ###
GBPUSD, 0.6 , 0.9 , 1.2 #
NZDCAD, 2.9 , 3.2 , 3.4 ###
NZDCHF, 2.6 , 3.0 , 3.2 ###
NZDJPY, 2.7 , 2.9 , 3.0 ###
NZDUSD, 0.7 , 1.0 , 1.2 #
USDCAD, 0.5 , 0.8 , 1.1 #
USDCHF, 0.3 , 0.8 , 1.1 #
USDJPY, 0.2 , 0.4 , 0.6
Thanks – I appreciate your willingness to pitch in.
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Thanks for this explanation, Paul.
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Thanks, HyperScalper, for drilling down into the functional details of the CCM platform.
Your broker comparisons are thorough and informative.
.
Thanks for the info
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The CFTC has just added 71 brokers to their HIT LIST – the so-called CFTC RED List.
Two of the 13 brokers on [I]our List[/I] – [B]FinproTrading[/B] (UK) and [B]TradeWiseFX[/B] (SVG) – are on this Hit List.
Here is a screen-shot of the additions to the RED List. (Note: this is not the complete RED List.)
Here is the CFTC press release, issued today.
More on the Red List in a later post.
At that time, we’ll talk about what the RED List means to the brokers on it, to us (their clients), and to the future of retail forex trading in the U.S.
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It took four government staffers just over a year to update this? What’s worse, is they didn’t bother to remove the dead ones. Worse than that, they are missing a few new ones I recently found (and am still checking out).
Trader’s Way and FxChoice have been on the RED list since Aug '15. I’m not too worried. Here’s the link to the full list which can be sorted.
Why pay 4% to use debit/credit? I sent TW $500 to open after Tallinex booted us and was charged $520. That was my last card transaction. Forever. Take the time to setup and understand Bitcoin. You won’t be disappointed.
Wow, that’s an impressive thread! Big thanks to all the contributors, much appreciated!
I have discussed bitcoins before on this thread but aaceofspades’s comment prompted me to do so again.I try to read as much as I can about the bitcoin and continue to harbour belief about its legitimacy. I’m surprised to see many here view that bitcoin is going to die and that FED/governments will shut it down. I think nothing could be further from the truth. I think in general any big company and any other currency can go down faster than Bitcoin today. As long as there is technological progress Bitcoin will be going up. Most tech companies submerged in Bitcoin believe its value will rise astronomically in decades. What makes them think that, perhaps time will tell. But as of date it is the easiest way send funds across and withdraw from offshore brokers for us, US traders, with CFTC choking offshore brokers/banks that accept funds from US traders. I think we should have a list of brokers that accept bitcoins or can research and let Clint know which brokers from the existing list accept bitcoins
I had a weird request to finalize my deposit, broker wants a picture of me holding the card. Just a visual picture. Is that normal?
It is normal. They are making sure that you are the owner of the card. When you upload the card you make sure that only the last four digits are visible. This will keep your card private and will prove to them that you are not using someone else’s card.
tallinex does that and now capital city markets require you show picture of you holding the card
Thanks for the replies, yea i did it and they finalized my initial deposit so no worries so far. I will let everyone know how this broker performs in my personal opinion.