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Your thoughts on brokers

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CFD Spy

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9 July 2008
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Hi all, this is probably jumping the gun alittle and may even be considered spamesque, but alas i will divulge -)

We would love to gather some real traders/users views & ratings on trading brokers. Your opinion on whichever broker/s you have had experience with would be greatly appeciated.

Cant say much more than that, simply, if you have an honest opinion on a broker, we would be very grateful.

http://cfdspy.com/blog/?cat=24


Thanks

Phil
 
Phil,

Maybe a little spamesque, but if you could report back to us in this thread with some of your findings it would probably be a good exchange.

Cheers,
kennas
 
all these views are my own opinions from experiences had , others may use there services and if they happy withem , luverly..... ere goes

commsec ...... an absolute joke , in fact larfable

Cmc ......... dodgy bros R us and will not use them again from previous experiences

IG ..ok but can be a lil shifty when the move is on


ETRADE ......... cannot fault them , CFD,s AND normal shares..know how to treat a customer , reliable platform and DMA on cfd trading ........

wouldnt mind someone resurectting the ole TD waterhouse tho as they were a lovely bunch
blessem all
 
Hi Kennas,

Thanks for the reply. And sure, no problem, I would be happy to keep the thread updated with any feedback we recieve.
 
Etrade = expensive, lack of adequate margin and available markets
IG Markets = like it when things are going their way.
IB = inexpensive, great access, great platform, service a little weak, inexpensive...worth repeating



Cheers,


CanOz
 
Sounds like a start up who makes money from advertising and not wishing to pay for his marketing or getting free advice to make money from advertising clicks.

For what it's worth, i prefer to hack into the asx and make my own trades. Then manipulate SP's for my own gains. Hey, for a small fee i can help out some other punters if you'd like.
 
Just deposit $500 into my account and we'll go from there. Once the funds have cleared and i have withdrawn them for personal use, i'll get back to you. Actually, we can do it quicker if you give me your bank account details and passwords. Nevermind, i'll just hack your computer and do it from home.
 
No worries i await your guidence patiently, i even threw in an extra 50 for vip status
 
Just a quick recap, we had no reviews on any brokers submitted from aussie stock forum users, bar a comment on interactive brokers from graeme himself (thanks graeme). So fairly unsuccesful id say -).

Also to the anti start up guy, what are you thinking the best course of action to go is? Make up reviews? Pay people to review?...doesnt sound to unbiased to me, and we want to give people real opinions, not shiztered material! The reviews will come in time i hope. Guess we will see. The blog at its current level is probably more worthwhile than 99% of trading orientated sites out there at the mo anyway. Gold takes a while to find. Good day.

Thanks for the help.
 


Here's my advice on brokers that I traded with:

Sonray Capital Markets - Decent platform but poor order execution. Offer no Stop Limit Orders on stocks or CFDs. Stay Away from.

CMC Markets - The worst. No Stop Limits. Wide spreads.

MF Global - Probably the best broker currently available to trade international CFDs through. Great order execution and the only CFD broker that allows you to place Stop Limit orders. Aussie CFD trading platform not as flexible as some.

Commsuck - enough said.

Regards
kam75
_____________________________
http://www.sharesmadeeasy.com
 
Why do people give commsec such a bad rap?

I mean, real facts, not just personal opinion. What is it that makes them that much worse than other brokers?
 
I've been the block so to speak but only with Forex Brokers. I can say the best FX Broker is ProedgeFX, a sister broker of FXSOL. Hope that helps.
 
Greg71 said:
Why do people give commsec such a bad rap?

I mean, real facts, not just personal opinion. What is it that makes them that much worse than other brokers?
Click to expand...


For a trader - the commissions are a killer.
The Professional Commsec Platform is nowhere near as sophisticated as say IB, TOS or even OX Web based platform.

And for people trading options - there are no spreads to enter - each leg costs you at least $35
 
any one using gomarkets ?

http://www.gomarketsaus.com/

opened a demo acc was not impressed with the margins on calendar spreads(no discount)also min 10 dollar charge plus the spread for forex .
got a phone call yesterday from them about the mt4 platform coming 1st oct and said that margins commissions etc will change for the better i do like the idea of having money in anz or nab here in oz at the moment any comments from any one who has dealings with them would be appreciated
 
Greg71 said:
Why do people give commsec such a bad rap?

I mean, real facts, not just personal opinion. What is it that makes them that much worse than other brokers?
Click to expand...

I have been with Commsec for a while using them to buy stocks for the long term and i have been quite happy but since i recently started trading options and as mazzatelli1000 pointed out 70 bucks min. for a round trip is rather rich, I rang them up to find out if they could lower the commissions for frequent traders but to no avail, actually they said they can lower rates on exceptionally high volume trades but they wouldn’t elaborate on the sort of volumes required.
 
nunthewiser said:
wouldnt mind someone resurectting the ole TD waterhouse tho as they were a lovely bunch
blessem all
Click to expand...

And before tdw took him over rene rivkins phone discount brokerage / show. What a gent he was.

I'm with directshares now as have a few kopeks in SGB, no probs, all errors in trading have been my own though at the time I thought it was the platform

gg
 
Westpac - expensive. Used to use for long term trading/investing.

Tried Sonray - continuous bad fills. (one stop order went through 15 mins after the price was hit on a liquid stock) After many complaints was told sorry - a compuer error.

IB - inexpensive. Many order types. Platform does take a while to get a hold of. Many functions I don't use. Charge approx 30 per month for ASX data.

My set up presently is use IB for ASX trades. I don't subscribe to ASX data but use my westpac account for depth etc. CHEAP brokerage and no monthly fees.
 

im giving them a go cause they have mt4, spreads for fx are just 2 pips, no commisions...looks good to me
 
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