Which trading platform to use?

[wayno76]

Hi,

My names Wayne, and I am thinking of upgrading my trading platform. I am using NAB online trading atm but i cant set stop losses. I only trade asx shares less than $20k usually with a short term turn around. I am looking for convenience as I am not always able to access a computer with my work situation. I found that CMC markets has a phone application and that would be very useful for me. Does anyone have any suggestions for other options?

Thanks!

 

[RichKid]

Hi,

My names Wayne, and I am thinking of upgrading my trading platform. I am using NAB online trading atm but i cant set stop losses. I only trade asx shares less than $20k usually with a short term turn around. I am looking for convenience as I am not always able to access a computer with my work situation. I found that CMC markets has a phone application and that would be very useful for me. Does anyone have any suggestions for other options?

Thanks!

Welcome to ASF Wayne!

This particular forum is the best place to browse feedback about various platforms, try a search for 'CMC' using the search tool in the toolbar above. Most brokers seem to be offering mobile/wireless trading options these days. Also, check out this site for a one-stop comparison of brokers: http://www.infochoice.com.au/Home/Investment/OnlineBrokers/tabid/68/Default.aspx

 

[Trembling Hand]

CMC is not a broker. their main platform are highly leveraged CFDs. just make sure you know the diff regarding leverage, interest, synthetic prices etc.

Although they have now also bought a traditional ASX broker but don't know much about that part.

 

[CFD]

You could have a look at fpmarkets.
Would seem that $20k turn over would avoid data and platform fees and they do not charge extra for phone orders.

 

[wayno76]

Thanks!

 

[IFocus]

Just opened an Interactive Brokers account cannot see how I could ever return to an Oz broker ever again........yet

 

[Ruincity]

HI all - Small time trader with minimal capital.

I am using E-Trade at the moment and i've been finding their performance to be sub-standard and I also find that their brokerage fee's are extrememly high in comparison to Commsec..

Why would I keep E-Trade?
Why would I not move to Commsec?

Opinions are welcome from anyone - further suggestions would be great.

https://invest.etrade.com.au/RatesandFees/Default.aspx

http://www.comsec.com.au/Public_FrameSet.asp?Page=HTrading

Note: I trade under 10k.

 

[steve80]

I use Interactive Broker for all my trading needs. Easy to use and very reliable.

 

[arco]

.

Gomarkets (Melbourne) do shares and CFD + forex.

I don't trade shares and I dont use this company personally but if you want a local Aussie based outfit check it out for yourself.



Australian share trading for 0.15% per trade. No extra phone costs. No charge for limit/stop orders

http://www.gomarketsaus.com/home

 

[MRC & Co]

Personally, you cannot go past Interactive Brokers (IB) IMHO.

Though, have recently had the opportunity to use Trading Technologies (TT) and I must say, WOW! That is all I can say about it.

 

[Pairs Trader]

IGmarkets
Interactive Brokers
Echotrade(US stocks only)

I would say IB are the most well-rounded broker.

 

[Ruincity]

Many thanks for all your replies.
What sort of security will these brokers have?
In the current financial crisis I must say some of these lesser know smaller companies are a concern to me..

Any reason why I shouldn't go Commsec?

 

[Reealjrd]

Many thanks for all your replies.
What sort of security will these brokers have?
In the current financial crisis I must say some of these lesser know smaller companies are a concern to me..

Any reason why I shouldn't go Commsec?

Hello Ruincity,

As you have previously also asked for the same question. I would suggest that go for brokers you think is reliable. I mean to say that search for brokers on the internet and make your own decision. First try their demo accounts and make your trading skills perfect and after that go for their mini trading before you go for standard account.

From here you will come to know weather the broker is better or not. I before starting with forex i had searched for many brokers on the internet. they are like the etoro, iforex, finexo, easy forex, money forex and many more. First i tried their demo accounts made my trading skills perfect. Yes and one more broker AVAFX. I used the mini account of this broker and was trading successfully and did not hae any problem.

Now after 2 years once again i am willing to start trading. I again searched for online brokers and found all the brokers have developed a lot and their trading tools have also developed a lot. The broker which i preferd has also changed a lot. So try for this broker you will be satisfied.

 

[kam75]

I have used Sonray Trader in the past and found it to be a good platform.

 

[cutz]

Many thanks for all your replies.
What sort of security will these brokers have?
In the current financial crisis I must say some of these lesser know smaller companies are a concern to me..

Any reason why I shouldn't go Commsec?

Hi

If your only trading amounts less than 20K comsec is neither here nor there, it’s got a reliable platform since it started offering webiress and the customer service is pretty good, if you decide to trade larger amounts or derivatives, comsecs costs start to become uncompetitive.

I’ve been with comsec for a while, as I have always been a buy and hold type of guy I’ve always been happy with them but since I started trading options I’ve been looking around for alternatives.

 

[IBTrader]

For more active/ experienced traders, then Interactive Brokers is an excellent choice for a discount online broker, offering a multi-asset class platform, exposure to 70 market centres and 17 countries, and are also the cheapest online broker in Australia:

Stocks from AUD 6 a trade (0.08% of trade value)
Options: AUD 3 per contract (incl ACH fee)
Futures AUD 5 (incl. of all exchange fees)
Forex From 1/2 PIP wide
CFDs: 0.05%

Once comfortable using the TWS platform you won't look back. If you want further information they now have an Australian office (02.9240.5148).