CMC CFD trading trial account: "account not authorised for this instrument"

[CFDGirl]

Hi,

I have recently opened trial CFD account with CMC but every time a place an order - it is being rejected with "the account not authorised for this instrument". At first I thought the trial is limited to a particular Aussie and US indices - but after I tried a few popular ones and and got the same rejection - I believe it is not the case.

My account balance showing 0 - do you think that could be cause of the error?
I though each demo account comes with a "virtual account balance of $5,000" as said in CMC web site.

I will contact their support on Monday since they are already closed for a w/e, but any comments/recommendations are welcome.

 

[skyQuake]

Hi,

I have recently opened trial CFD account with CMC but every time a place an order - it is being rejected with "the account not authorised for this instrument". At first I thought the trial is limited to a particular Aussie and US indices - but after I tried a few popular ones and and got the same rejection - I believe it is not the case.

My account balance showing 0 - do you think that could be cause of the error?
I though each demo account comes with a "virtual account balance of $5,000" as said in CMC web site.

I will contact their support on Monday since they are already closed for a w/e, but any comments/recommendations are welcome.

Acct bal 0 so its probably expired.

Dont bother with CMC imo, close the acct and save yourself some money. Look at the other threads

 

[CFDGirl]

Acct bal 0 so its probably expired.

Dont bother with CMC imo, close the acct and save yourself some money. Look at the other threads

Any recomendations for other cheap CFD (will be trading Aussie, US indices mostly) brokers, IG Markets - is it any good?

The CMC's Market Maker application looks very slugging - with that annoying "updating 3/4" popups. Does other providers has the same issues with a software?

 

[Alpha_Bet]

Hi CFDGirl,
Don't know what you mean in reference to "cheap" CFD brokers. Please don't refer to them as brokers when discussing their synthetic markets, they're Market Makers.
If you want to learn the emotion one goes through in a position (and every individual is different) trade a synthetic Index for $1 per point. Trade for a return on capital- if achieving this you're learning and are ahead.
Meanwhile save money to trade real futures markets

 

[skc]

Any recomendations for other cheap CFD (will be trading Aussie, US indices mostly) brokers, IG Markets - is it any good?

The CMC's Market Maker application looks very slugging - with that annoying "updating 3/4" popups. Does other providers has the same issues with a software?

IG is more than acceptable if you are trading a few bucks/point here and there just as a feeler. They offer free demo that can be set up easily with an email address.

They are cheap in that the ASX200 cash is 1 pt spread, platform is free, charts are free for 4 trades a month (confirm for yourself) etc. Execution speed is acceptable unless you are doing high speed scalping stuff.

When you get serious then a proper future broker is a must.