New to CFDs

[clayton4115]

hi all

i want to start trading CFDs but which provider do you think i should start with?

want to start with $10,000 max and make small transactions, which provider is the cheapest? i do not want live trading platform as i already have an account with comsec.

regards

 

[IFocus]

Sujest you use the DMA model rather than the cheapest

If you want cheap then use Interactive Brokers not CFD but they do give you margin

 

[scarfie1]

I use IG Markets, they are great. Cheap commission at min $8 or 0.1%. And they have two different trading platforms.

 

[clayton4115]

thanks will look at these 2.

 

[Chezp]

i'm new to the cfd world and i've been doing some research about cfd providers and all that...

after combing through this forum, it looks like FPM or MFG are the preferred DMA cfd providers. it looks like FPM could trade shares as well as index and fx, does anyone know if you could trade index cfd with MFG too?

do you recommend any other DMA providers over these two which you could trade index & shares cfd? one with good spread, liquidity... best is if you could also get a rebate on data...

i've been trading shares through my comsec margin account and was looking at cfd just for trading index, but it looks like it's cheaper to trade cfd as the commission & interest rate is cheaper... ($31 each way with comsec for trade size of about $10000 and interest rate 8.6% vs ~$10 each way & RBA cash rate+3%) is there any disadvantage trading cfd instead?