Best CFD provider?

[hissho]

Hi all
I'm trying to choose a CFD provider which
--- offers DMA
--- has a low platform and data fee
--- excellent order filling
--- provides peace of mind without "counter party risk"

Any recommendations?

btw I've read all the other CFD-related threads but it just seems someone is happy with one particular CFD provider but others have their own picks...

Thanks in advance
hissho

 

[woodrel]

I'm trying Marketech at the moment and they are pretty good so far. DMA, good fills, cheap rates and the platform is good. It is a new service though so I'm keeping the account size small.

 

[Aviator33]

Ditto to the above. Only complaint I have is the platform could be a little better but I hear they are working on that.

 

[IFocus]

Hi Hissho

In the early days (not so long ago) when CFD's 1st came to Oz it was MM with a very colorful / flashing type plate form.

My learnings from all that set my priorities

1st the platform must be bullet proof (not flashy,not fancy, not lots of nice to haves) simply reliable with no down time, no lock ups, no crashes, no software conflicts I really mean nothing. Biggest issue, have a nasty day and cannot get out due to platform crashing you are screwed, fees and costs suddenly means nothing.

To read continually here on the forum of people not being able to access their account because the site or what ever is down again blows me away as thats accepting serious risk.

I have used WEBIress for more than 5 years now with AOT for stocks and MF Global for CFDs it has never once malfunctioned, thats never ever at any time I have used it. Hopefully there are others who have had similar experience with other providers platforms.

I can recommend MF Global, not the cheapest but have also never experienced any problems only good service etc, they are DMA, have always answered the phone when I call (altho I have never phoned during a market criss)

Another advantage for me using the WEBIress is that I can link other accounts to my AOT account whether they are CFD or stock accounts and incur only one set of fees for the whole lot which I don't normally get due to turn over.

Hope this helps
Focus

 

[eric35]

Hi Hissho,

I use First Prudential and find them very good. If you are interested, let me know and I can put you in contact with the right person to look after you with a free demo for a couple of weeks.

 

[blablabla]

FPM provide a good service. DMA, reliable WebIress, competent staff, competitive fees.

There is no platform fee but you may have to pay a monthly data fee which might possibly be waived for frequent traders.

Orders go into the market very fast, unlike with some large online brokers.

 

[>Apocalypto<]

I use IG they offer DMA on their L2, their new pure deal platform is not Java based so not as problematic as the last. Since I started using adsl+2 all my orders are filled in a second and i have never had any prob with the platform. brokerage and spreads are very competitive. I still give them a thumbs up.

My second is Pacific Continental, also very good.

To hell with CMC, I had a bad experience with them and i will never go back.

 

[hissho]

Thanks for all your great comments, especially IFocus!
basically i'm trying to decide between ManFinancial and FirstPrudential...can any FirstPrudential users tell me if you got problems having your orders filled(or any other platform-related issues) lately when the market has been volatile?

thanks again

 

[Kauri]

Adele Ferguson and Richard Gluyas | January 31, 2008 Australian

AN unprecedented regulatory crackdown on stockbroker Tricom - one of the nation's biggest margin lenders - has stripped investor confidence in the share market and sent stocks into another steep descent.
Local investors again ignored leads from bigger international markets, latching on to the problems afflicting Tricom as a sign of further turmoil as more shareholders who had borrowed money to buy stocks were forced to sell to meet margin calls.
The ANZ Bank has given Tricom only days to reduce the broker's margin loan book by hundreds of millions of dollars to satisfy loan covenants....

http://www.theaustralian.news.com.au/story/0,25197,23135767-601,00.html

http://www.theaustralian.news.com.au/story/0,25197,23134740-30538,00.html

 

[Trembling Hand]

Adele Ferguson and Richard Gluyas | January 31, 2008 Australian

AN unprecedented regulatory crackdown on stockbroker Tricom - one of the nation's biggest margin lenders - has stripped investor confidence in the share market and sent stocks into another steep descent.
Local investors again ignored leads from bigger international markets, latching on to the problems afflicting Tricom as a sign of further turmoil as more shareholders who had borrowed money to buy stocks were forced to sell to meet margin calls.
The ANZ Bank has given Tricom only days to reduce the broker's margin loan book by hundreds of millions of dollars to satisfy loan covenants....

http://www.theaustralian.news.com.au/story/0,25197,23135767-601,00.html

http://www.theaustralian.news.com.au/story/0,25197,23134740-30538,00.html

What has this got to do with a CFD thread?

 

[Kauri]

What has this got to do with a CFD thread?

Nothing much I suppose... unless you are looking for a CFD provider under the thread heading..."Best CFD provider?" in which case it may pay to wait before pumping money into an account with them... after all they are one of Australias main CFD providers... no??? or even getting your money out??
Cheers
.........Kauri

 

[Trembling Hand]

Nothing much I suppose... unless you are looking for a CFD provider under the thread heading..."Best CFD provider?" in which case it may pay to wait before pumping money into an account with them... after all they are one of Australias main CFD providers... no??? or even getting your money out??
Cheers
.........Kauri

Are you sure about them being one of the main CFD providers. My understanding was that there product is a white labeled from one of the main MM.

In any chase the the thread is about DMA CFDs not MM

 

[Kauri]

Are you sure about them being one of the main CFD providers. My understanding was that there product is a white labeled from one of the main MM.

In any chase the the thread is about DMA CFDs not MM

I stand corrected..maybe the mods can delete my posts..
Cheers
.........

 

[ithatheekret]

TH per chance , do you know of where I can obtain a list of DMA CFD providers etc. ?

I noted a couple mentioned here , but there must be more than that , preferrably situated in the US or here .

Others I have are all in other little far away places ........ like Cyprus and Belize and the Virgin Islands , which seems to be a growing trend by itself .

 

[IFocus]

TH per chance , do you know of where I can obtain a list of DMA CFD providers etc. ?

I noted a couple mentioned here , but there must be more than that , preferrably situated in the US or here .

Others I have are all in other little far away places ........ like Cyprus and Belize and the Virgin Islands , which seems to be a growing trend by itself .

Hi ithatheekret

Found this over on the Chartist its a bit out of date and incomplete but gives the general idea

http://123cfd.com/wiki/Comparison_of_online_brokers

 

[Trembling Hand]

TH per chance , do you know of where I can obtain a list of DMA CFD providers etc. ?

I noted a couple mentioned here , but there must be more than that , preferrably situated in the US or here .

Others I have are all in other little far away places ........ like Cyprus and Belize and the Virgin Islands , which seems to be a growing trend by itself .

Not so sure you will find any CFD providers from the States as its illegal to trade them if you are a US resident. And pretty sure you can't get DMA CFDs for anything but the ASX & UK.

 

[ezyTrader]

Hi itha,

This site might offer you some comparison.

http://compareshares.com.au/CFD_features.php

otherwise, fill in the multiple choices

http://infochoice.com.au/Home/Investment/OnlineBrokers/tabid/68/Default.aspx

 

[ithatheekret]

Not so sure you will find any CFD providers from the States as its illegal to trade them if you are a US resident. And pretty sure you can't get DMA CFDs for anything but the ASX & UK.

You mean we've actually got one up on the Yanks .

No wonder they're all in exotic destinations , my latest one is in Belize . Great huh , borders Mexico , Guatemala and the Honduras if I remember rightly , on the Caribbean Sea .

I do worry about treaties etc. but have limited funds in each and withdraw profits a.s.a.p. , heh , I don't even trust my NAB and ANZ accounts

I've had a few salesman , I mean brokers from the Northern parts of Cyprus try to impress me , but unfortunately for them we don't have a treaty with their goverment .................... I told one mob to cross the border and I'd think about it , but I wouldn't dare flaunt with the risk if you know what I mean . It doesn't mean I wait for Canberra to rubber stamp everything , but it's safer to heed their knowledge , well the diplomats at least .