# DMA CFD Broker?



## zenki (27 March 2009)

heya,

does anyone know a good dma cfd broker, mostly for aussie stocks? prefer low margin + fee rates.
i've looked everywhere and can't seem to find one.

cheers


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## nunthewiser (27 March 2009)

*Re: dma cfd*



zenki said:


> heya,
> 
> does anyone know a good dma cfd broker, mostly for aussie stocks? prefer low margin + fee rates.
> i've looked everywhere and can't seem to find one.
> ...




Etrade .. DMA .......... more expensive than others............reliable platform , good service ........ 

https://invest.etrade.com.au/InvestmentProducts/CFDs/Default.aspx

DYOR ............ 

a few others out there , dunno who is DMA tho


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## AlterEgo (27 March 2009)

Maybe have a look at FPMarkets. I joined them recently and they seem quite good so far. How 'low' do you require the fees to be, and what features are you looking for?


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## zenki (27 March 2009)

no specific features. just reliable, low rates + margin + dma access


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## beamstas (27 March 2009)

First Prudential
MF Global

IG Markets have DMA if your account is > $5000
GO Markets DMA


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## AlterEgo (27 March 2009)

zenki said:


> no specific features. just reliable, low rates + margin + dma access




What do you call 'low' fees though? Do you need live data, ie. dynamically updating in real time? If so, you'll be charged the $38.50 ASX data fee per month no matter who you go with (someone correct me if I'm wrong on this point). If that's too steep for you, FPMarkets told me they have another product without the live data (ie. you need to refresh the screen for the data to update instead of it updating automatically), and that product doesn't have the data fee. I don't think this product is listed on their website though, but I have an email contact of someone in FPMarkets that you could ask about it if you want it.


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## ivant (5 April 2009)

AlterEgo said:


> What do you call 'low' fees though? Do you need live data, ie. dynamically updating in real time? If so, you'll be charged the $38.50 ASX data fee per month no matter who you go with (someone correct me if I'm wrong on this point). If that's too steep for you, FPMarkets told me they have another product without the live data (ie. you need to refresh the screen for the data to update instead of it updating automatically), and that product doesn't have the data fee. I don't think this product is listed on their website though, but I have an email contact of someone in FPMarkets that you could ask about it if you want it.




igmarkets wont charge you IF you press that get live price button, and its there for a few ticks.


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## Jack Payback (12 April 2009)

This website compares all the major providers, costs, features etc. There are 3 tabs with other info such as whether they are DMA or MM.

http://www.thebull.com.au/compare_list.php?c=CFDs

Cheers


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## jonleung (22 April 2009)

AlterEgo said:


> Do you need live data, ie. dynamically updating in real time? If so, you'll be charged the $38.50 ASX data fee per month no matter who you go with




The ASX charges a monthly royalty fee of $38.50 + GST for dynamic (streaming) data, or a per-request fee for on-demand market data (capped at $38.50 per month). So if you use a streaming platform like webIRESS or CommSec's Pro Trader, you will need to pay this fee to the broker who passes it straight on to the ASX.  For frequent traders, the monthly fees are rebated.

MF Global also has a static platform called eMClick where the prices are not streaming (they refresh only when you click on a button) - this is aimed at less frequent traders, as it does not incur the $38.50 monthly fee.


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## glenn_r (22 April 2009)

zenki said:


> heya,
> 
> does anyone know a good dma cfd broker, mostly for aussie stocks? prefer low margin + fee rates.
> i've looked everywhere and can't seem to find one.
> ...




I've used a lot of CFD providers over the last few years and currently I'm using First Prudential Markets with their webiress platform and if your a frequent trader you can negotiate a very good deal with them also they have a good margin list.

They also offer a no cost web based basic trading platform called "FP Online".


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## Kryzz (22 April 2009)

Glenn,

When you talk about "a no cost web based basic trading platform" are the costs you are referring to only live ASX data per month? Or other costs also? One of the people from FP told me, if 12 trades are executed per month this fee is waived.

Cheers,

Shaun.


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## glenn_r (22 April 2009)

As I understand it there is no cost to use "FP Online" but you best give them a call.


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## mlennox (2 May 2009)

Sonray Capital Markets (www.sonray.com.au) offer ASX DMA CFD trading from a minimum ticket of $15 / 0.15%.

You will incur the $38.50 monthly fee for ASX live data however.


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## cooper1308 (3 May 2009)

Hi all,

I can provide DMA CFDs for $7 or .1% (if you trade 3m+ per month .07%)

We have a market leading platform and free data if you trade 4+ times per month (a buy + sell is considered 2 trades)

I don't want spam the forums so please pm me for further details


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## nunthewiser (6 May 2009)

> MF Global Told to Pay U.K. Trader About $30 Million (Update2)
> Share | Email | Print | A A A
> 
> By James Lumley
> ...




http://www.bloomberg.com/apps/news?pid=20601087&sid=agatBe87IoGM&refer=worldwide

i  use mfg via etrades platform...i have no gripes........just intresting article



> Gill had sought at least 9.3 million pounds over claims that in 2001 and 2002 an MF Global account manager, who has since left the firm, told him he was making trading gains when he was losing money. Gill claimed he would have changed his strategy if correct information had been provided. Instead, he wiped out a trading account with almost 10 million pounds.





better add that as only fair


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## Sir Burr (17 May 2009)

Hi,

Is it possible with any of these CFD brokers to:

1. Pay no monthly fee for ASX live data (not needed).
2. Use 100% margin.

I would like to use CFD's to possibly short an index longer term.

Thanks.


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## johnnyg (15 October 2009)

Hello all, Thought this was an appropriate place to post instead of starting a new thread. I've complied a short list of DMA CFD Providers with a few columns regarding fee's + general comment. I'll be trading EOD and won't have a great deal of access to a computer during market hours if it's any help. Account size will be relatively small also $10000-$20000 so lower fees will help.

Leaning towards either eMclick with MF Global or Marketech. Will need to do some more research into both so any comments on either or any other DMA provider I left out are appreciated.


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## skc (15 October 2009)

johnnyg said:


> Hello all, Thought this was an appropriate place to post instead of starting a new thread. I've complied a short list of DMA CFD Providers with a few columns regarding fee's + general comment. I'll be trading EOD and won't have a great deal of access to a computer during market hours if it's any help. Account size will be relatively small also $10000-$20000 so lower fees will help.
> 
> Leaning towards either eMclick with MF Global or Marketech. Will need to do some more research into both so any comments on either or any other DMA provider I left out are appreciated.




4 more criteria I would add...

- Interest charges
- Whether they pay interest on account balance
- Availability of charting
- Margin requirement (which is very important if you know what you are doing and want to push your account hard)


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## skyQuake (15 October 2009)

Even if they are DMA, google a bit to see if they do requotes.

Also check for EoD trades. A lot of them won't participate in opening and closing auctions for some reason.


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## rnr (15 October 2009)

johnnyg said:


> Hello all, Thought this was an appropriate place to post instead of starting a new thread. I've complied a short list of DMA CFD Providers with a few columns regarding fee's + general comment. I'll be trading EOD and won't have a great deal of access to a computer during market hours if it's any help. Account size will be relatively small also $10000-$20000 so lower fees will help.
> 
> Leaning towards either eMclick with MF Global or Marketech. Will need to do some more research into both so any comments on either or any other DMA provider I left out are appreciated.




From my understanding of the fee structure "data fees" and "platform fees" equate to the same thing.
On that basis I believe that you have essentially duplicated fees under the headings of FP Markets & MF Global.


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## beerwm (15 October 2009)

FPmarkets does have both platform and data.

data being -ASX royalties.

platform - being WebIRESS, - although... i believe they have a webplatform, which is fee-less/ free.


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## rnr (15 October 2009)

skyQuake said:


> Even if they are DMA, google a bit to see if they do requotes.
> 
> Also check for EoD trades. A lot of them won't participate in opening and closing auctions for some reason.




Having used a DMA platform for some 2 years I believe I can safely say that I have never seen nor been subject to a requote and you can participate in the opening and closing auctions.


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## rnr (15 October 2009)

beerwm said:


> FPmarkets does have both platform and data.
> 
> data being -ASX royalties.
> 
> platform - being WebIRESS, - although... i believe they have a webplatform, which is fee-less/ free.




You will probably find that the webIRESS fee includes the ASX royalty.

If you use FPM and pay both data fees and platform fees then I would give them a call and request that they sort out the problem which should result in a refund in your favour!


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## beerwm (15 October 2009)

rnr said:


> You will probably find that the webIRESS fee includes the ASX royalty.
> 
> If you use FPM and pay both data fees and platform fees then I would give them a call and request that they sort out the problem which should result in a refund in your favour!




FP MARKETS:

ASX royalty and webIRESS platform

webIRESS is a state of the art platform provided to First Prudential Markets by IRESS. The monthly charge for accessing the webIRESS platform is $50 + GST. The monthly ASX royalty fee imposed by the ASX for live ASX data is $38.50. The webIRESS platform fee and ASX royalty fee can be waived for high volume clients.

similar [asx royalties] + [platform fees] apply to MFglobal. / and rebate policies... i believe


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## rnr (16 October 2009)

beerwm said:


> FP MARKETS:
> 
> ASX royalty and webIRESS platform
> 
> ...




Hi beerwm,

I understand that you are quoting from the FP Markets web site but given that webIRESS can only be used, at this stage, to access ASX data and also as a client of FPM this information appears confusing hence my suggestion to give them a call if you are being charged for both amounts.

If someone is doing a comparison on the basis of making a decision on which DMA broker to use then also give them a call.

Regards,

rnr


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## johnnyg (16 October 2009)

Thanks all for the replies so far, Ill add some more columns tonight and re-post.


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## boff (19 October 2009)

Can anyone advise which provider gives DMA access to the largest range of ASX shares.
I'm with IG, but they only list a subset of the ASX. OK, so it's quite a big list, but what is really annoying is that many of the stocks will be listed as closing only. This drives me up the wall, as I may have built up a big buffer from other trades going in my favour, but can't use that equity to open trades on some of the more volatile stocks meaning I need to purchase them outright with my stockbroker.
And yes, of course the margin requirement is 100% so I'm unsure what risk IG is exposed to. And the market is liquid, as through DMA I can see the trades going through.
I had a look at CMC and they seemed to have a few of the more volatile stocks listed as tradeable.
Cheers.


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## Paul Ellis (6 November 2009)

I have been using IG & FP Markets for DMA for a few months and so far no complaints except the spread on sector cfds for IG is huge.  I bought a few mini contracts (health and consumer staple) and immediately you are in a $300-400 hole because of the buy/sell spread.

IG is really good for getting your offer or bid hit at the end of day after market trading auction.


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## weatherbill (22 March 2010)

I am looking for the bloker who can give me the best margin on CFD.

CMC has better margins tan IG, no? 

Can't find IGs margins on particular stocks from their site? hmmm

Does someone else have better margins than CMC?


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