Zero commission - Short term trades wish comes true

[tech/a]

http://www.marketech.com.au/

 

[doctorj]

Re: Zero Commision. Short term trades wish comes true.

Or better yet, if you're interested and want to find out more, help Joe out and keep an eye out for the Marketech banners.

Marketech

 

[mayk]

Re: Zero Commision. Short term trades wish comes true.

SO is it better than IB? I am so sick of IB account activation process.

 

[Caliente]

Re: Zero Commision. Short term trades wish comes true.

Looks good. If i decide to register I'll go through Joe to support the site.

 

[nikki]

Re: Zero Commision. Short term trades wish comes true.

http://www.marketech.com.au/

how did you manage the less than 100 words rule tech/a

i would be very interesting in anyone's ideas re this package. the 0% commission does sound too good. i have a free week to use it and will see how i go!!!

 

[prawn_86]

Re: Zero Commision. Short term trades wish comes true.

pity you need a 20k acc balance.

Alright for all you big guys out there :

 

[wayneL]

Re: Zero Commision. Short term trades wish comes true.

how did you manage the less than 100 words rule tech/a

The 100 character rule only applies to the "ASX Stock Chat" forum and the stocks a-z sub-forums.

 

[cuttlefish]

Re: Zero Commision. Short term trades wish comes true.

nothings free. Trading anything that relies on MM's to give you a price is risky imo.

 

[Sir Burr]

Re: Zero Commision. Short term trades wish comes true.

nothings free. Trading anything that relies on MM's to give you a price is risky imo.

But this is convincing - yes?

"As Marketech is a full Direct Market Access ('DMA') provider, the buy and sell prices you will trade on are exact ASX market prices. This means that the price of our CFD is exactly the same price of the underlying stock."

BTW interest rates are pricey!

SB

 

[caleb2003]

Re: Zero Commision. Short term trades wish comes true.

So the only real fee is 2 basis points on a day trade, sounds too good to be true, I've been using brokerone and thats at 8 basis points, how can they achieve profit with this?

 

[Sir Burr]

Re: Zero Commision. Short term trades wish comes true.

Anyone tried their Trading Platform?

Applied for the demo yesterday but still no reply yet. Do they have many order types, like IB?

What's the difference between Marketech and IB. Do you own the shares with IB?

SB

 

[nizar]

Re: Zero Commision. Short term trades wish comes true.

Oh wow.
$0 Brokerage.

$20k account balance is just to open the account then you leave $5k in there??

I can live with that.

Nice find tech.

 

[CanOz]

Re: Zero Commision. Short term trades wish comes true.

Anyone tried their Trading Platform?

Applied for the demo yesterday but still no reply yet. Do they have many order types, like IB?

What's the difference between Marketech and IB. Do you own the shares with IB?

SB

IB is a margin account...yep, you own them.

Cheers,

 

[chops_a_must]

Re: Zero Commision. Short term trades wish comes true.

What's the difference between Marketech and IB. Do you own the shares with IB?

SB

Marketech is a CFD provider. IB is not.

It looks as if these guys are going to try and make money off a $50 a month fee. Not too shabby though compared to other CFD providers so far as I can tell.

 

[cuttlefish]

Re: Zero Commision. Short term trades wish comes true.

"As Marketech is a full Direct Market Access ('DMA') provider, the buy and sell prices you will trade on are exact ASX market prices. This means that the price of our CFD is exactly the same price of the underlying stock."

SB

How exactly does this work - when you purchase via CFD, they put through the equivalent order on market? Do they provide their own spread or just mirror the current market spread?

Just curious because even on small parcels (say $5K) the loss of 1 tick can easily kill any commission savings.

 

[Joe Blow]

Re: Zero Commision. Short term trades wish comes true.

Or better yet, if you're interested and want to find out more, help Joe out and keep an eye out for the Marketech banners.

Marketech

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Many thanks!

 

[Sir Burr]

Thanks cuttlefish and chops.

I'm just comparing MT and IB and being an average punter (I think) having trades lasting a month plus I like 50% margin.

Basically I've worked out (for my margin and # of trades/year). I use $100,000 margin with an interest of 9.5% = $9500 a year. On IB interest = $8075.

Brokerage (125 trades/year) on MT = $ZERO. On IB = $3500.

Total (brokerage and interest only)
MT = $9500
IB = $11575

So even with the higher interest rate MT is cheaper.

Wondering about risks between using MT's CFD's and IB's standard. Plus MT is Aussie based while IB is offshore. Any comments please?

By the way, I'm not sure where chops_a_must got the $50 per month fee? I think you mean under "Other Potential Administrative and other Costs" here? I took that as an cost for an additional login password? If that's correct, not sure why anyone would need that. Maybe to do with the trading platform.

SB

 

[chops_a_must]

Thanks cuttlefish and chops.

I'm just comparing MT and IB and being an average punter (I think) having trades lasting a month plus I like 50% margin.

Basically I've worked out (for my margin and # of trades/year). I use $100,000 margin with an interest of 9.5% = $9500 a year. On IB interest = $8075.

Brokerage (125 trades/year) on MT = $ZERO. On IB = $3500.

Total (brokerage and interest only)
MT = $9500
IB = $11575

So even with the higher interest rate MT is cheaper.

Wondering about risks between using MT's CFD's and IB's standard. Plus MT is Aussie based while IB is offshore. Any comments please?

By the way, I'm not sure where chops_a_must got the $50 per month fee? I think you mean under "Other Potential Administrative and other Costs" here? I took that as an cost for an additional login password? If that's correct, not sure why anyone would need that. Maybe to do with the trading platform.

SB

Yeah, I had another look at that and I don't think it is the case (what I said previously that is).

I think you would end up using more margin in the CFD account than the IB account. However, the potential gains are higher. Gets down to the amount of risk you are prepared to take I guess.

The guys trading the SPI don't seem to have many problems with IB.

I don't know, for some reason I continually baulk with CFD's. Something about losing more than the amount of money in my acount and not getting proper fills, doesn't sit with me well.

But the prices really do look good for this. It will be interesting to see the feedback and the competitor's response to this mob. I just can't work out how they make much money with this.

 

[Sir Burr]

I think you would end up using more margin in the CFD account than the IB account. However, the potential gains are higher. Gets down to the amount of risk you are prepared to take I guess.

Looking at the margin list here, say I'm happy with 50% many on that list are under this. I wouldn't use all available but stick to 50%. Yep there are plenty above 50% too so would have to consider that.

Another thing is a plus with MT is free data whereas IB charges AUD 37.50.

Think for me, the clincher would be how MT's Trading Platform goes and what orders they offer. I can't see any info on their site about this and still have no reply to their offer of using a demo.

Be good to know someone who has used it

Cheers SB

Edit: Here's the DEMO ACCOUNT request form.

 

[glenn_r]

The platform is very basic and the orders are either buy/sell on stop or limit.