DMA CFD Broker?

[zenki]

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

 

[nunthewiser]

Re: dma cfd

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

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

 

[AlterEgo]

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?

 

[zenki]

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

 

[beamstas]

First Prudential
MF Global

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

 

[AlterEgo]

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.

 

[ivant]

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.

 

[Jack Payback]

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

 

[jonleung]

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.

 

[glenn_r]

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

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".

 

[Kryzz]

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.

 

[glenn_r]

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

 

[mlennox]

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.

 

[cooper1308]

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

 

[nunthewiser]

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

By James Lumley

May 6 (Bloomberg) -- MF Global Ltd.’s London brokerage unit must pay a day trader about 20 million pounds ($30 million) in compensation for deceiving him about the amount of his trading losses, a London judge ruled today.

Misrepresentations made by an MF Global account manager to former client Raj Gill led him to follow a flawed trading strategy that caused mistakes worth millions of pounds, Justice Julian Flaux ruled.

“Had it not been for Mr. Gill being ensnared in the web of deceit” he would have made money from his trades, Flaux said in his ruling. Gill’s firm “is entitled to recover all its losses which flow directly from that fraud.”

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

 

[Sir Burr]

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.

 

[johnnyg]

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.

 

[skc]

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)

 

[skyQuake]

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.

 

[rnr]

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.