# CFD provider recommendation?



## white_goodman (9 June 2009)

Ive recently been asked by my folks to do all their trading... im looking at a CFD provider for aussie stocks but also would like to trade futures, indexes, commdoties, forex, international CFD's etc etc

any reccommendation or comments on these:

MF Global
City Index
International Brokers (how difficult is it to set up? I heard their statements are retarded with currency conversions etc)

also its a must that they are DMA/STP.... and preferably a good charting package...


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## Trembling Hand (9 June 2009)

*Re: CFD reccomendation?*

I assume you mean interactive brokers.

they are not CFD providers!!


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## beamstas (9 June 2009)

First Prudential (IRESS Platform)
GO Markets are ok too (saxo platform (software))
I've used IG Markets (web platform) too but i liked GO Better


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## white_goodman (9 June 2009)

*Re: CFD reccomendation?*



Trembling Hand said:


> I assume you mean interactive brokers.
> 
> they are not CFD providers!!




yes sorry interactive... well they are out then...

regarding Go markets, I was intially going to use them but talked to them this morning and they are dismantling their Go Trader platform atm and thus only accepting FX accounts atm... allagedly they are transferring their cfd's etc all to mt4, but dont quote me on that...


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## beamstas (9 June 2009)

*Re: CFD reccomendation?*



white_goodman said:


> yes sorry interactive... well they are out then...
> 
> regarding Go markets, I was intially going to use them but talked to them this morning and they are dismantling their Go Trader platform atm and thus only accepting FX accounts atm... allagedly they are transferring their cfd's etc all to mt4, but dont quote me on that...




I got an email from them saying they were going to use MT4 to concentrate on FX and that CFD's would be only through their GO Platform? No idea what they are doing to be honest

Brad


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## Trembling Hand (9 June 2009)

white_goodman said:


> im looking at a CFD provider for aussie stocks but also would like to trade futures, indexes, commodities, forex, international CFD's etc etc




Why would you want to trade CFDs AND futures??


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## white_goodman (9 June 2009)

Trembling Hand said:


> Why would you want to trade CFDs AND futures??




alterior motives.... my parents strictly want stocks exposure... I however wanna build up a bit of experience/record on other instruments so I can hopefully get a trading job in the future.... and as reccomended by someone on another forum, prop firms of a discretionary anture would take more notice of a good record in futures rather than strictly cfd's or spot forex...


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## beamstas (9 June 2009)

white_goodman said:


> alterior motives.... my parents strictly want stocks exposure... I however wanna build up a bit of experience/record on other instruments so I can hopefully get a trading job in the future.... and as reccomended by someone on another forum, prop firms of a discretionary anture would take more notice of a good record in futures rather than strictly cfd's or spot forex...




You can do this on the GO platform it's $10 each way for Futures
Or you could traded futures cfd's at $1 a tick and a 4point spread

Brad


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## Trembling Hand (9 June 2009)

white_goodman said:


> alterior motives.... my parents strictly want stocks exposure... I however wanna build up a bit of experience/record on other instruments so I can hopefully get a trading job in the future....



 great idea! getting experience with someone else's money 



beamstas said:


> You can do this on the GO platform it's $10 each way for Futures
> Or you could traded futures cfd's at $1 a tick and a 4point spread
> 
> Brad



!!!!!! You cannot trade futures with go. they are CFDs of sorts


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## white_goodman (9 June 2009)

Trembling Hand said:


> great idea! getting experience with someone else's money




I'm only doing it cos they asked me, its only a fraction of their investment income so no problemo...


_"You are now chatting with 'Go Markets'

Go Markets: Hello.  How may I assist you?

you: hey jsut curios do you still offer FCD's?

you: *CFD's

you: heard that your not offering them anymore

Go Markets: true, we are de-commissioning the CFD platform.

you: so how long till you offer CFD's?

Go Markets: we are focusing on the MT4 platform and offering FX.

you: yeh im already a customer

Go Markets: Within the next 6 months or so we will have CFD's on the MT4 platform."_


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## beamstas (9 June 2009)

Trembling Hand said:


> great idea! getting experience with someone else's money
> 
> !!!!!! You cannot trade futures with go. they are CFDs of sorts




I thought they did futs for $10 each way or a CFD for 4 point spread, OR $2 on the MT4 platform but i must be mistaken!







Anyway, this is the email they sent about MT4


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## kam75 (11 June 2009)

MF Global
Kinetic Securities


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## kingie_d (11 June 2009)

Has anyone used Go Markets for their Index CFDs? Does their "ASX S&P 200 Index" deviate from the XJO besides the spread? How much does the spread widen and how often? 
Regarding the posts about them scrapping their CFDs, has anyone had any updates if they are still going to be available?


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## Gordo888 (12 June 2009)

Go's Index CFD's are white-labelled from Saxo so they are market-made, and will deviate from XJO from time to time


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## sails (12 June 2009)

kingie_d said:


> Has anyone used Go Markets for their Index CFDs? Does their "ASX S&P 200 Index" deviate from the XJO besides the spread? How much does the spread widen and how often?
> Regarding the posts about them scrapping their CFDs, has anyone had any updates if they are still going to be available?




They did have it on MT4, but a few of days after signing up with them, they decided to disable trading on the ASX200. Would have been nice if they had told me before going to all the trouble of creating the account especially as I made it clear the account was being set up specifically for the ASX200.  Not impressed with them...

It's still available as a chart on MT4 but it can't be traded.


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## white_goodman (12 June 2009)

anyone with MF Global... what platform/charting software am i meant to use?

mainly wanna trade CFD's 80% of trades, then the rest probably forex... can this be all done off one platform/account?


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## beerwm (12 June 2009)

yeah,

im tossing up between 

FirstPrudential
MFGlobal

they seem to be the pick of the bunch


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## white_goodman (13 June 2009)

beerwm said:


> yeah,
> 
> im tossing up between
> 
> ...




my only problem with MF global is the rort they charge regarding licencing fees and asx data fee.... i dont wanna be forced to trade for the sake of trading


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## gav (13 June 2009)

white_goodman said:


> my only problem with MF global is the rort they charge regarding licencing fees and asx data fee.... i dont wanna be forced to trade for the sake of trading




But do you need live data to trade?  If not, can you just use EOD and not pay the data fee?


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## white_goodman (13 June 2009)

gav said:


> But do you need live data to trade?  If not, can you just use EOD and not pay the data fee?




i dont ill be doing EOD...

anyone have any feedback on Sonray? I like how their platform has the ability to trade different instruments all within same platform


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## voyz (13 June 2009)

i reccomend first prudential markets. im with them and no dramas and hte iress platform is the goods not taht i can compare to anything.


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## IFocus (13 June 2009)

white_goodman said:


> my only problem with MF global is the rort they charge regarding licencing fees and asx data fee.... i dont wanna be forced to trade for the sake of trading




White I used MF for a long time their service is good and the WebIRESS platform is bullet proof but depending on your size they are not the cheapest.

To be honest for the last couple of years I have used IB finding the access to the ASX / US and Forex in the same broker plus the order choice, really low commission excellent of course not the same leverage for stocks.


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## white_goodman (13 June 2009)

IFocus said:


> White I used MF for a long time their service is good and the WebIRESS platform is bullet proof but depending on your size they are not the cheapest.
> 
> To be honest for the last couple of years I have used IB finding the access to the ASX / US and Forex in the same broker plus the order choice, really low commission excellent of course not the same leverage for stocks.




yeh i would have gone with GO but they arent offering atm.... All i want is something without platform licencing fee and i just need EOD data and not feel pressured to trade more then i want for a rebate. I like Sonray atm, just noticed i can trade almost anything through their platform... of course ill be doing more due diligence before i sign up... I would have jsut chosen IB but I want some leverage.


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## white_goodman (14 June 2009)

ok now looking at MF Global, Sonray and Interactive Brokers...

IB offers ASX CFD's by the look of it...

http://www.interactivebrokers.com/e...hp?exch=snfe&showcategories=CFD&ib_entity=llc


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## Trembling Hand (14 June 2009)

white_goodman said:


> ok now looking at MF Global, Sonray and Interactive Brokers...



LOL Sonray Global is IB whitelabel. & SonrayTrader is Saxobank whitelabel and not DMA




white_goodman said:


> IB offers ASX CFD's by the look of it...
> 
> http://www.interactivebrokers.com/e...hp?exch=snfe&showcategories=CFD&ib_entity=llc





Which are crap!!


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## white_goodman (14 June 2009)

Trembling Hand said:


> LOL Sonray Global is IB whitelabel. & SonrayTrader is Saxobank whitelabel and not DMA
> 
> Which are crap!!




thanks for the heads up trembling hand... looks like ill be going with IB or MF Global...


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## liquidmaker (14 June 2009)

White, why not go with IG Markets, they have CFD's and Forex and their program is a very easy to use platform with a good charting package.

They charge $8 a trade whether buy or sell. Not sure whether this is good or bad??

Liquid


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## acouch (14 June 2009)

white_goodman said:


> ok now looking at MF Global, Sonray and Interactive Brokers...
> 
> IB offers ASX CFD's by the look of it...
> 
> http://www.interactivebrokers.com/e...hp?exch=snfe&showcategories=CFD&ib_entity=llc





http://en.wikipedia.org/wiki/Bucket_shop_(stock_market)

hence i think usa citizens are prohibted from participating in CFD's
so i would be very surprised if IB offered CFD's
ac


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## white_goodman (14 June 2009)

liquidmaker said:


> White, why not go with IG Markets, they have CFD's and Forex and their program is a very easy to use platform with a good charting package.
> 
> They charge $8 a trade whether buy or sell. Not sure whether this is good or bad??
> 
> Liquid




well the reason mainly is ive heard bad things about IG and CMC etc, so i ruled them out initially...


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## IFocus (14 June 2009)

acouch said:


> http://en.wikipedia.org/wiki/Bucket_shop_(stock_market)
> 
> hence i think usa citizens are prohibted from participating in CFD's
> so i would be very surprised if IB offered CFD's
> ac




Acouch 

http://individuals.interactivebrokers.com/en/trading/pdfhighlights/PDF-CFDs.php?ib_entity=llc

Liquidity was a problem plus they ran market makers around them so the spread would be screwed as well, from TH's comments sounds like nothing has changed


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## Real1ty (14 June 2009)

Trembling Hand said:


> LOL Sonray Global is IB whitelabel. & SonrayTrader is Saxobank whitelabel and not DMA




Sonray do offer a DMA version on the SonrayTrader platform.

http://sonray.com.au/info/cfd-trading


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## white_goodman (14 June 2009)

Real1ty said:


> Sonray do offer a DMA version on the SonrayTrader platform.
> 
> http://sonray.com.au/info/cfd-trading




ive sent an email off to them, i read on their website that they dont allow stop losses on their DMA??? seems strange... i need something with buy/sell stops and trailing stops etc... this is suprisingly hard to find a good broker that meet all crtieria, seemed so much easier finding an FX one


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## liquidmaker (14 June 2009)

I agree White,

I did not know it was possible to find a CFD provider who will guarantee trailing stops. I know on IG markets you can continually update you stops but do some provide trailing stops??

And also does anyone know of a good CFD provider which is cheaper than IG markets.

Liquid


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## glenn_r (14 June 2009)

white_goodman said:


> ive sent an email off to them, i read on their website that they dont allow stop losses on their DMA??? seems strange... i need something with buy/sell stops and trailing stops etc... this is suprisingly hard to find a good broker that meet all crtieria, seemed so much easier finding an FX one




First Prudential offer trailing stops as well as stop loss and profit stops on their DMA webiress platform.


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## glenn_r (14 June 2009)

This is the order window


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## cooper1308 (15 June 2009)

Trembling Hand said:


> LOL Sonray Global is IB whitelabel. & SonrayTrader is Saxobank whitelabel and not DMA




Saxo offer both MM and DMA


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## gav (15 June 2009)

What is white label?  Is that the same as Market Made?


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## AzzaB80 (15 June 2009)

This mob now has futures through Macquarie and the ability to use Ninjatrader as a platform:
http://www.halifax.com.au/gp/default.asp

However you still need to pay your Ninja licensing costs and comms were more expensive than IB (couple of Euro more r/t for the EuroStoxx50). Not sure about the SPI. 

They used to be an Australian business partner for Mirus Futures which I was hoping to use just for the free Zen-Fire backend but they exclusively use Macquarie now by the sounds.


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## white_goodman (15 June 2009)

gav said:


> What is white label?  Is that the same as Market Made?




white label basically means Saxo made the paltform etc, and Sonray pay a fee or are licenced to use it (i think its sorta like a franchiser-franchisee relationship) From my talks to brokers overseas you are either a full service whtie label, ie all accounting etc done by the parent or you can be an autonomous whtie label


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## white_goodman (15 June 2009)

Sonray just messaged me back, DMA CFD's are $20 or 0.20% commission, just seems to creep up every day i read it, PASS


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## huyha123 (15 July 2009)

Hi white_goodman,

MF Global told me due to my capital more than $100K (platinum level) I got RBA IOCR + 1.75%. 0.08% commission, minimum $8. free live feed and platform. 

I think FP Market and IG Market has something similar. and you can tell them you not want live feed to not pay the fee. 

by the way, market maker is just the crap that I pay big to learn (GFT, CMC)


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## Paul Ellis (23 July 2009)

I use CMC markets which seem ok - but I have nothing to compare against as they are the only ones I have tried - can't think of too many issues or complaints - Market Maker seems pretty stable...


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## RogueTrader273 (24 July 2009)

How does Power Etrade compare for trading CFD's?  I currently use Etrade Pro to trade stocks.  Anyone?


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