CFD Providers (DMA) for NZ

[eric341]

Hi, does anyone know of any providers that are available to new zealanders? All the dma cfd providers seem to be aussie ones

The only cfd provider in nz is CMC and thats a MM, which I'd rather not deal with.

 

[happyjack]

I think Etrade is direct market and they are owned by ANZ so they should be there. CMC have a number of things that there is no fee for just a spread, They have an "Aussie 200" that has no fees it normally only has a 2 point spread and the minimum trade is 1 and of course being an index it is unlikely to gap, so it is great for learning
Happyjack

 

[eric341]

Hi happyjack, I'm with cmc and I understand that all indices are free to trade (with varying spreads however), not just the aussie200?

I have a question however. I'm new to using market maker, and I don't know how to manually choose CFDs to sell. Say I bought one share at 4.50, and another at 4.60 (same instrument). What if I want to sell the first share at 4.55 but not the second one (as I will be making a loss)? Do you know how to manually carry out the selling process? Or does the program automatically sell the share that will give me the biggest profit?

Cheers