DMA CFD providers

[Diggs1]

Starting to look into CFD's and was wondering which reputable brokers have DMA.

Have looked at CMC, IG Markets and MF Global but haven't been able to find it stated anywhere. Also tried a few searches here but nothing has come up.

Anyone have a recommendation? Want to trade with a demo account first!!

 

[skc]

Starting to look into CFD's and was wondering which reputable brokers have DMA.

Have looked at CMC, IG Markets and MF Global but haven't been able to find it stated anywhere. Also tried a few searches here but nothing has come up.

Anyone have a recommendation? Want to trade with a demo account first!!

All three names are reputable enough.

You won't find DMA demo for obvious reason!

 

[Diggs1]

All three names are reputable enough.

You won't find DMA demo for obvious reason!

Oh yeah wasn't looking for DMA demo but after more looking found that IG Markets have DMA. Did notice that IG Markets has options as well which pretty much signs the deal for me. I've been trying to find a broker that does options as well as CFD's and was starting to think there wasn't one

 

[AlterEgo]

Starting to look into CFD's and was wondering which reputable brokers have DMA.

Have looked at CMC, IG Markets and MF Global but haven't been able to find it stated anywhere. Also tried a few searches here but nothing has come up.

Anyone have a recommendation? Want to trade with a demo account first!!

CMC is not DMA. I think both the others have DMA though. FP Markets have DMA as well.

 

[skc]

CMC is not DMA. I think both the others have DMA though. FP Markets have DMA as well.

CMC has DMA buried somewhere the last time I checked. They did launch a new platform recently so things may have changed since.

Oh yeah wasn't looking for DMA demo but after more looking found that IG Markets have DMA. Did notice that IG Markets has options as well which pretty much signs the deal for me. I've been trying to find a broker that does options as well as CFD's and was starting to think there wasn't one

Those options are not DMA. They are CFDs as well and the spreads are pretty bad (or just as bad as the real options).

 

[LostMyShirt]

Hello Digs,

I placed a call into CMC a couple of days ago because I am also wanting to trade CFD's but refuse to do so under a market maker mode. I was assured quite adamently that CMC does NOT offer DMA CFD's. I was glad to hear that IG Markets does have DMA CFD's with a fair comission. Their Demo account does not allow DMA CFD trading, ofcourse.

 

[MITCH027]

i am using fpmarkets which ive been happy with

0.08% flat rate (no min brokerage charge) + no monthly fee for platform if you have >$50k

 

[RazzaDazzla]

I personally used MFG over 12 months ago. Whilst I was happy with their pricing, and service; their platform was light years behind IG (I'd used a demo IG account).

I primarily use IB for my stock trading; so I was very disappointed by the MFG platform.

I'd be happy as a pig in mud if IB did DMA CFDs for ASX.

 

[LostMyShirt]

I personally used MFG over 12 months ago. Whilst I was happy with their pricing, and service; their platform was light years behind IG (I'd used a demo IG account).

I primarily use IB for my stock trading; so I was very disappointed by the MFG platform.

I'd be happy as a pig in mud if IB did DMA CFDs for ASX.

Great thing about IB is that you can also take out futures contracts such as the SPI et al. whereas IG don't offer that outside of a market maker platform.

 

[skc]

I personally used MFG over 12 months ago. Whilst I was happy with their pricing, and service; their platform was light years behind IG (I'd used a demo IG account).

I primarily use IB for my stock trading; so I was very disappointed by the MFG platform.

I'd be happy as a pig in mud if IB did DMA CFDs for ASX.

MFG uses WebIress which imo is way better than IG's Puredeal. Full market depth for starts plus correct volume on charts, company announcements, and drag-and-drop etc...

Or do you have a different platform with MFG and/or IG? I remember reading IG used to have a L2 dealer but they said they were phasing that out...

 

[LostMyShirt]

MFG uses WebIress which imo is way better than IG's Puredeal. Full market depth for starts plus correct volume on charts, company announcements, and drag-and-drop etc...

Or do you have a different platform with MFG and/or IG? I remember reading IG used to have a L2 dealer but they said they were phasing that out...

Apparently they still do have some sort of L2 system they boast. I also must agree on the WebIress platform as opposed to IG's "PureDeal". They also use a seperate platform for DMA-CFD's called "PureDMA" which I have not seen as of yet. WebIress is fantastic and I had the chance to use it for a month with BellDirect. I enjoyed it very much but my trading style has no need for such a program and expense at this time.

 

[skc]

Apparently they still do have some sort of L2 system they boast. I also must agree on the WebIress platform as opposed to IG's "PureDeal". They also use a seperate platform for DMA-CFD's called "PureDMA" which I have not seen as of yet. WebIress is fantastic and I had the chance to use it for a month with BellDirect. I enjoyed it very much but my trading style has no need for such a program and expense at this time.

PureDMA is the same as basically the same as PureDMA. The order ticket has a small box to toggle btw OTC and DMA. When DMA is selected it shows 5 levels of market depth and volume.

The 5 level is completely inadequate for many stocks >$2. And you can't breakdown and see the level2 depth. You also can't see the auction match price unless you open up a ticket, which you can only have 5 maximum open at any one time.

 

[AlterEgo]

i am using fpmarkets which ive been happy with

0.08% flat rate (no min brokerage charge) + no monthly fee for platform if you have >$50k

How'd you manage to get rate with them? I've been with them for a couple of years but I'm not on that low rate! Are you turning over really huge sums of money through them or something? When I joined it seemed they weren't interested in negotiating rates unless you were turning over a couple of Million dollars or more per month!

 

[LostMyShirt]

PureDMA is the same as basically the same as PureDMA. The order ticket has a small box to toggle btw OTC and DMA. When DMA is selected it shows 5 levels of market depth and volume.

The 5 level is completely inadequate for many stocks >$2. And you can't breakdown and see the level2 depth. You also can't see the auction match price unless you open up a ticket, which you can only have 5 maximum open at any one time.

Why is PureDMA inadequite for that price range? It is a shame to hear you can't break down the depth levels too :/ WebIress is excellent for that...

Do you think it may be viable to have a window open from another broker account to view depth? I wish Belldirect would offer some CFD trading...

 

[skc]

How'd you manage to get rate with them? I've been with them for a couple of years but I'm not on that low rate! Are you turning over really huge sums of money through them or something? When I joined it seemed they weren't interested in negotiating rates unless you were turning over a couple of Million dollars or more per month!

Like he said, over $50k.

http://www.fpmarkets.com.au/cfds/account-types

i am using fpmarkets which ive been happy with

0.08% flat rate (no min brokerage charge) + no monthly fee for platform if you have >$50k

They mention premier webIress on that above link... how's that different to the normal webIress?

 

[MITCH027]

Like he said, over $50k.

http://www.fpmarkets.com.au/cfds/account-types



They mention premier webIress on that above link... how's that different to the normal webIress?

tbh I never used the normal webiress so I can't comment

one of the things fpmarkets hides though is (I think) that they charge $25 to withdraw (I haven't withdrawn any money yet)

Worthwhile reading the finer print on admin fees

they also send you daily statements on your position and a consolidated statement at the each of each month for you to track your trades day-to-day and month-to-month (plus for me)

 

[AlterEgo]

Like he said, over $50k.

But I do have well over $50k in my account though!

Hmmm, that fee structure on that link is different to when I originally joined. I'll have to make some enquiries with them.

I'm also interested in knowing what's different with Premier webIRESS?

 

[skc]

But I do have well over $50k in my account though!

Hmmm, that fee structure on that link is different to when I originally joined. I'll have to make some enquiries with them.

I'm also interested in knowing what's different with Premier webIRESS?

Lol you've been short changed! Ask them to rebate all the commission or take your business elsewhere..

 

[AlterEgo]

Lol you've been short changed! Ask them to rebate all the commission or take your business elsewhere..

Well I contacted someone from FP today, and he agreed that I should be on the lower rate, so he's going to sort it out. It seems that I was overlooked when this latest fee structure came out.

They mention premier webIress on that above link... how's that different to the normal webIress?

He told me that also has access to futures & FX.

 

[skc]

He told me that also has access to futures & FX.

I think they are OTCs but I could be wrong.