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CMC GIA £50 bonus until 30 April 2023
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CMC have launched a transfer bonus from 2nd March to 30th June.
https://www.cmcinvest.com/en-gb/terms-and-conditions/transfer-bonus
Applies to GIA as well as ISA - £50 for £2.5k up to £250 for £50k if held for at least 12 months.
Not sure I fancy transferring an ISA across but what about funding a GIA with £5k in something cash-like then transferring it to CMC to pocket the £100 bonus (rate of 2%). Something SONIA like would return nearly 6% overall.2 -
I have compared spreads on CMC buy and sell "market" quotes to HL and II to invest the £50 bonus. Every share and IT had a much wider spread on CMC eg JGGI 4.5p per share more expensive to buy on CMC versus HL and II. Simply uncompetitive on "market" price. Both HL and II have identical much lower market prices. Ok to invest small amounts as there is no commission charge but I'll not be putting any larger amounts their way.0
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Oggymcfc said:I have compared spreads on CMC buy and sell "market" quotes to HL and II to invest the £50 bonus. Every share and IT had a much wider spread on CMC eg JGGI 4.5p per share more expensive to buy on CMC versus HL and II. Simply uncompetitive on "market" price. Both HL and II have identical much lower market prices. Ok to invest small amounts as there is no commission charge but I'll not be putting any larger amounts their way.The same with Freetrade and Trading212, the problem with these low commission brokers is that they don't give you the hard 15 second quote that 'legacy' brokers do. In my experience so far, when you come to actually make the trade 99% of the time you'll receive the same hard price as iWeb et al will give you.
This morning I bought some shares in a FTSE100 company via CMC Invest whilst watching a live LSE price feed and I was given the prevailing market price.0 -
Interesting discussion on spreads. My trade for a single share of ERNS (think I'm correct in thinking this is low volatility and sufficiently liquid, please correct me if I'm wrong) went through at a similar price quoted by AJ Bell.
That was in stark contrast to my trade with InvestEngine - guess which was my trade from those below. I received the contract note email and on seeing the (poor) price went straight to the LSE site. It make a few pence difference but what if you were trading a big portfolio?
I don't understand the relationship between platforms and market makers so why such a poor price for my trade compared to the other low volume trades?
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easysaver said:Interesting discussion on spreads. My trade for a single share of ERNS (think I'm correct in thinking this is low volatility and sufficiently liquid, please correct me if I'm wrong) went through at a similar price quoted by AJ Bell.
That was in stark contrast to my trade with InvestEngine - guess which was my trade from those below. I received the contract note email and on seeing the (poor) price went straight to the LSE site. It make a few pence difference but what if you were trading a big portfolio?
I don't understand the relationship between platforms and market makers so why such a poor price for my trade compared to the other low volume trades?
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wmb194 said:easysaver said:Interesting discussion on spreads. My trade for a single share of ERNS (think I'm correct in thinking this is low volatility and sufficiently liquid, please correct me if I'm wrong) went through at a similar price quoted by AJ Bell.
That was in stark contrast to my trade with InvestEngine - guess which was my trade from those below. I received the contract note email and on seeing the (poor) price went straight to the LSE site. It make a few pence difference but what if you were trading a big portfolio?
I don't understand the relationship between platforms and market makers so why such a poor price for my trade compared to the other low volume trades?
You don't get to confirm the traded price on InvestEngine (I assume trades are combined to save costs, being one of the ways they can offer commission free trading). I understand that but may as well trade OEICs if I'm not sure of the price. That's why CMC is appealing IMO.0 -
easysaver said:wmb194 said:easysaver said:Interesting discussion on spreads. My trade for a single share of ERNS (think I'm correct in thinking this is low volatility and sufficiently liquid, please correct me if I'm wrong) went through at a similar price quoted by AJ Bell.
That was in stark contrast to my trade with InvestEngine - guess which was my trade from those below. I received the contract note email and on seeing the (poor) price went straight to the LSE site. It make a few pence difference but what if you were trading a big portfolio?
I don't understand the relationship between platforms and market makers so why such a poor price for my trade compared to the other low volume trades?
You don't get to confirm the traded price on InvestEngine (I assume trades are combined to save costs, being one of the ways they can offer commission free trading). I understand that but may as well trade OEICs if I'm not sure of the price. That's why CMC is appealing IMO.
But it's all just guessing; at the end of the day if you want some certainty you need to use a 'legacy' broker and accept that it will cost you more in commission.
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Sold my shares and pushed the withdraw button.
£51.21 overall profit (£50 bonus, £0.56 cash dividend and remainder on growth).
Promo still seems to be open for anyone else who might be interested.2 -
Closed in the black yesterday for the first time 14p up yesterday.0
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Happy with the free £50, now withdrawn and account closure request submitted. Thanks again to the OP.0
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