Using MF Global's eMpower to trade CFDs

[beamstas]

I cranked up my old account at Go(saxo) and you can still do "if done" orders to set up stop loss and profit limit orders if your original order gets triggered.

Glenn
You may want to edit your account number out? (I don't think you use that number to log in but just in case you didn't notice it's there)

Let me clarify sorry

You can use an if done order for the Market Maker services
You cannot use an if done order for the Direct Market Access services

This is a real pain because i trade CFD's DMA (cheaper brokerage and i rather the DMA platform)

Brad

 

[glenn_r]

Ahhh ok it's the same with webiress, i.e. MF Global and FPM , that account has a zero balance but thanks anyway.

 

[skc]

I just signed up with MF Global to do some CFD trading over there. They would be my 6th CFD provider...

Anyhow.. I am trying to understand their reporting. Does anyone know how to work out the interest I have paid / got paid for each trade?

Many thanks

 

[Sugar Dunkaton]

I have used MF Global and FP and i have been happy with both of them. I am using MFG now because they originally had a larger range of stocks available to short... not that anyones doing much of that recently...

 

[skc]

I have used MF Global and FP and i have been happy with both of them. I am using MFG now because they originally had a larger range of stocks available to short... not that anyones doing much of that recently...

Thank you Sugar... this was an old thread I dug up related to MF Global. I doubt the original posters are still around.

So, do you know how to work out the interest paid / received on each individual trade?

cheers

 

[sammy84]

Thank you Sugar... this was an old thread I dug up related to MF Global. I doubt the original posters are still around.

So, do you know how to work out the interest paid / received on each individual trade?

cheers

The rate of interest they charge varies on your amount of trades/an amount you negotiated with. From memory I think I am 1% above the benchmark rate. The rate is charged daily. Hope this helps.

 

[nunthewiser]

skc

 

[skc]

Thanks Sammy and Nun.

I know what interest rate I am paying. But just wondering if their reporting tells me how much interest I've paid for each trade after I close them.

They aggregate the total interest paid on the account daily in my statement, and I don't want to have to manually divided it up for the various positions I hold.

IG market has a great feature that works out the P/L for each trade, including divies, interest paid/received etc as you close them. So I figure that MFGlobal doesn't?

The rate of interest they charge varies on your amount of trades/an amount you negotiated with. From memory I think I am 1% above the benchmark rate. The rate is charged daily. Hope this helps.

You have a good deal!

 

[huyha123]

I just signed up with MF Global to do some CFD trading over there. They would be my 6th CFD provider...

Anyhow.. I am trying to understand their reporting. Does anyone know how to work out the interest I have paid / got paid for each trade?

Many thanks

would you mind sharing which provider you have been with and why you left them?

I have been with GFT before and that has been a very costly experience so would like to avoid similar provider.

 

[skc]

would you mind sharing which provider you have been with and why you left them?

I have been with GFT before and that has been a very costly experience so would like to avoid similar provider.

In fact I've had 8 providers...

The ones I've left...
- Comsec CFD - My account was only good for trading ASX listed CFDs and I quickly moved away from them. They were quite costly as well
- Westpac CFD - Very expensive fee wise and whitelabel MF Global anyway
- CMC - Didn't like their platform and not DMA CFDs
- Marketch - They switched their platform (which was very good) to whitelabel MF Global

None of these experiences were particular negative. Just that there were more positive experiences to be had else where.

The ones I still have...
- IG
- MF Global
- Go Markets - for playing around FX
- AxisODL - for playing around with micro SPI