The transition to Futures trading

[keithj]

FWIW it feels like ASIC have got it wrong here - seems like they are really squeezing IB (no margin for stocks, now this)

It may be a response to the BBY collapse.

And disallowing FX trading appears to be for all clients, and not just individuals - IB still allows cpys & trusts to trade stocks/futs on margin.

 

[skc]

FWIW it feels like ASIC have got it wrong here - seems like they are really squeezing IB (no margin for stocks, now this) - I don't understand why they would target IB which seems like a pretty clean, well operated business which I feel 'smarter' individuals use and not target CFD bucket shops

Yes.... there are plenty of worse things in the market for ASIC to go after you'd think.

It wouldn't surprise me at all if IB decides that it's had enough of it. Australia is a small enough market as it is so pouring resources to satisfy the ever changing ASIC mood is unlikely to be great business.

 

[kid hustlr]

Yes.... there are plenty of worse things in the market for ASIC to go after you'd think.

It wouldn't surprise me at all if IB decides that it's had enough of it. Australia is a small enough market as it is so pouring resources to satisfy the ever changing ASIC mood is unlikely to be great business.

My view entirely - which is a real shame because I think its an excellent discount provider for those who know what they are doing.

If IB was to pull out of the aussie market - whats the next best share trading alternative? Are there other options or does one just suck it up and head to the big 4?

 

[Modest]

My view entirely - which is a real shame because I think its an excellent discount provider for those who know what they are doing.

If IB was to pull out of the aussie market - whats the next best share trading alternative? Are there other options or does one just suck it up and head to the big 4?

I believe a few blokes here us AMP

http://www.ampfutures.com/

 

[Lone Wolf]

If IB was to pull out of the aussie market - whats the next best share trading alternative? Are there other options or does one just suck it up and head to the big 4?

I believe a few blokes here us AMP

http://www.ampfutures.com/

Kid H was talking about share trading.

I'm not sure about overseas alternatives. Within Australia CMC markets (stockbroking, not the CFD account) is much better compared to the likes of Commsec.

For 10 or less trades per month it's $11 or 0.10% per trade. 11 or more trades per month and it's $9.90 or 0.08%. Free conditional orders.

ASIC don't seem to do a very good job of protecting people from being taken advantage of, but they're doing a pretty good job of forcing us to be at the mercy of overpriced Aussie brokers looking to take advantage of us.

 

[skc]

My view entirely - which is a real shame because I think its an excellent discount provider for those who know what they are doing.

If IB was to pull out of the aussie market - whats the next best share trading alternative? Are there other options or does one just suck it up and head to the big 4?

If you are investing buy and hold, Big 4 will do. I have a Westpac one specifically for it's slowness so I don't over-react to short term stuff.

If you want more active trading, DMA CFD might be an alternative. It cuts out all the rubbish CHESS paper works etc but you have added counterparty risks. Otherwise, I think someone do offer WebIress on real shares, but I can't remember who.

 

[kid hustlr]

tx guys

hopefully Ib continues to offer its service but just thinking out loud for the longer picture.

 

[Sakk]

Worth a read, compares CFD's with Futures. No affiliation, however I have come to the same conclusion after having both futures feed and CFD feed running side by side.

http://www.andlil.co.uk/comparing-cfds-futures-scalping-day-trading/

However it reads like a bit more of a sell for IG.

 

[Trembling Hand]

However it reads like a bit more of a sell for IG.

Yeah with nice affiliate links to IG at the bottom of the post.....

 

[Sakk]

No affiliation, however I have come to the same conclusion after having both futures feed and CFD feed running side by side.


However it reads like a bit more of a sell for IG.

Sorry, what I meant to say was "I have no affiliation". However the article clearly does.

 

[Sakk]

what's the normal spread you guys see on the DAX?

I'm looking at the FDAX 9-15

mainly seeing .5-3 spreads normal?

Cheers

Yep that's about right, when i was monitoring spreads, futures would normally be at 1.5 - 2 points and move out to 3 points. Rarely saw 0.5 point spread but I tested several months back. I compared the spreads and have traded the cash markets of IG's and FXCM's Germany 30 and traded futures.

FXCM 80% of the time was 1 point and then 2 point. IG Markets fixed at 1 point.

FXCM every order filled but would get 1 - 2 point slippage on stops, so too with Futures. IG no slippage BUT very occasionally some orders don't get filled in very fast moves (IG's explanation is if price has moved greater than 3 points from the time you place the order, it gets cancelled)

 

[fiftyeight]

BUT very occasionally some orders don't get filled in very fast moves (IG's explanation is if price has moved greater than 3 points from the time you place the order, it gets cancelled)

Occasionally??? I had it happen 3 times in about 15 mins last week

 

[tech/a]

Boom!!!
DAX

 

[avion]

Boom!!!
DAX

C'mon Tech, we know you were on it..., few grand perhaps?

 

[tech/a]

C'mon Tech, we know you were on it..., few grand perhaps?

Not all but enough

 

[CanOz]

16:55 (GR) Greece PM Tsipras said to be prepared to accept almost all bailout conditions - financial press - Tsipras will accept all his bailout creditors' conditions that were on the table this weekend with only a handful of minor changes- According to the article, Tsipras wants the changes to raise the retirement age to 67 by 2022 to start in Oct, rather than immediately (Note: On June 24th, it was reported that creditors wanted the retirement age raised to 67 by 2022 vs 2025 previously proposed by the Greek govt)- Tsipras is said to also request that the special solidarity grant be phased out by Dec 2019 vs previously proposed 2020 (Note: On June 24th, it was reported that the creditors called for the phasing out of the grants by the end of 2017)- Suggests Tsipras will accept most of the reforms related to the VAT; However, he is seeking a special 30% discount for the Greek islands.- Follow Up: Greece PM Tsipras letter said to contain elements that European ministers would find hard to accept- Creditors still see Greek referendum as an issue - Source TradeTheNews.com

Obviously would not have wanted to be short...

 

[tech/a]

Obviously would not have wanted to be short...

Its not over.

Got this bit



11058---11130

 

[fiftyeight]

Not on tonight

Tech, that might be the first chart I have seen you post with no volume

 

[tech/a]

Not on tonight

Tech, that might be the first chart I have seen you post with no volume

Its below it I didn't include it.

Here it is cause its interesting.

 

[CanOz]

Yeah, that was quite interesting, i was watching the order flow as the market traded back towards the open and saw the orders start to lift the offers well before the announcement...When the announcement hit, the market was already cleaning out shorts....

Nothing is a secret these days...i wonder how much the Greek PM made off that one?