In the Club
Bringing the online trading community to live with CMC Markets
There has been a social trading revolution over the past twelve months. Twitter, Facebook and trading forums are giving retail traders the ability to share information faster than ever before, allowing individuals to work together to tackle the markets. After all, there’s strength in numbers.
At CMC markets, however, they’ve taken this idea even further, with the launch of a new scheme called the Traders Club.
The Club gives retail traders the opportunity to come together at the CMC Head office to converse on all things financial markets, and in the process learn new strategies and skills from each other.
But has it been a success? We caught up with CMC markets Head of Product Development Craig Inglis to find out.
What was the original idea behind the CMC Traders Club, and how has it grown since the project began?
We’ve always tried to develop CMC as a social company, and have given our customers access to CMC market information though platforms such as Facebook, Youtube and Twitter, as well as online educational guides, for quite some time. However, when we have spoken to clients they have always said to us that what they’d be most interested in is live trading, and the ability to speak and mingle with like-minded individuals.
We took this on board, and developed the idea to create a physical room that would showcase the trading platform whilst simultaneously allowing people to exchange information, in essence the ultimate traders’ suite.
So what equipment does the Traders Club suite hold? And how many traders can access the services at any one time?
We have some top of the range 27 inch iMacs, and a number of plasma screens with CNN, Bloomberg, CNBC and BBC news running. We also have a collection of subscription services.
We invite a maximum number of 30 of our clients to bring their own laptops to the Traders suite and actually trade live in this active space inside CMC markets. In this way our clients have the ability to share strategies, learn from each other, and work as a partnership to see what they achieve in the markets together.
The Traders Club format has continued to follow that model since. CMC conduct a market update at the beginning of each session, but what we’re already beginning to see is the individual clients are now presenting concepts, ideas and strategies to their fellow traders about what’s going on in the market right now. We’ve also seen a large amount of swapping of contact details, and already we’ve got clients speaking to each other independently of CMC to discuss market opportunities and how they can improve their strategy.