# Unbelievable but true - Phantom trade on Marketmaker



## skc (29 October 2008)

I recently signed up for a CMC account and came across this major problem on their platform. 

This afternoon, an open long position magically appeared under my account. It was not something that I've opened but it was definitely there...Having no idea where it came from, I decided to just close the position with a corresponding short. The platform tells me that there are no positions open. I stepped away from my screen, and 30 minutes later, return to find that I have a net short position open! 

This is absolutely absurd!!! How technically flawed can this be? Lucky this time the net short position turned out to be profit-making, but how can anyone rely on a platform that delivers random positions to your account?

Has any CMC user got similar experience?


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## treefrog (29 October 2008)

skc said:


> I recently signed up for a CMC account and came across this major problem on their platform.
> 
> This afternoon, an open long position magically appeared under my account. It was not something that I've opened but it was definitely there...Having no idea where it came from, I decided to just close the position with a corresponding short. The platform tells me that there are no positions open. I stepped away from my screen, and 30 minutes later, return to find that I have a net short position open!
> 
> ...



yes, also shortly after opening account. a few years back now and now problems since.
don't recall exactly what the outcome was but think mind was losing trade and rang them: they cancelled trade without quibbling, but heck, there have been numerous updates since then - amazing they haven't sorted.


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## James Austin (29 October 2008)

skc said:


> I recently signed up for a CMC account and came across this major problem on their platform.
> 
> This afternoon, an open long position magically appeared under my account. It was not something that I've opened but it was definitely there...Having no idea where it came from, I decided to just close the position with a corresponding short. The platform tells me that there are no positions open. I stepped away from my screen, and 30 minutes later, return to find that I have a net short position open!
> 
> ...





yes SKC, i've had problems with CMC -- but mine has a different spin

I just today posted this on another thread:
https://www.aussiestockforums.com/forums/showthread.php?t=7952&page=10
***
yep,
trading is difficult enough on its own, you dont want to be battling the technology (which is scewed against you) as well.

and theres virtually no accountability, these guys and others have a licence to print money.

i'm trading index minis, which is preferrable as a beginner, so i use the bucket shops.

after an argument with my provider on the phone just yesterday, the dealer took it upon themself to open THREE trades in my account without me requesting them to do so. This is after our phone conversation.

Furthermore, he had the audacity to notate my account: positions opened at customers request.

Bloody hell! I couldnt believe it.

I was sitting at my desk watching trades appear, as if from no where, in my account. I was closing them, this guy was opening them.


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## skc (29 October 2008)

Great story... you should play them the following message next time you call them.
_
"For training, quality control and avoiding phantom trade purposes, this call will be recorded"._


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## Martyn500 (4 November 2008)

Thats highly illegal surely? Id want the guy arrested!


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