For the record, I've just read a LOT of CFD provider posts on the forum - enough to be embarrassed to be making the hundredth thread, but not enough to get an answer.
I'm with IGM at the moment, and they'd be perfect if not for one thing: they don't have stop-limit orders. If you've got a stop order, it goes in as some kind of half-arsed market order.
Example: had a stop order for 1.03. Stock opened at 1.04. Took about 90 seconds to get up to 1.11 (with volume at other prices on the way), where a single small sale went through at that price. I get a fill at 1.11. The price then falls back to 1.02.
I am not delighted. This has happened a lot lately, and it's wiped out a lot of my profit. Always, by amazing coincidence, at the worst possible price, a minute or two after the open.
All I want is a limit order that goes in at a specified level when my trigger goes off. I am content to miss the boat on occasion.
MFG do have stop limit orders. Their problem is that their margin is way too high ("high" is fair enough, since they're DMA, but they seem to be a lot higher than most DMA), and they don't let you attach a stop when you make an order. It's not critical, but I'm not in a position to babysit these trades and it makes me bloody uncomfortable not to have a stop on day 1.
So I'm looking for a CFD provider who can offer ASX and US shares at around 10% margin, with a stop-limit order available.
Anyone got any ideas?