The ideal broker... - Aussie Stock Forums

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  1. #1

    Default The ideal broker...

    for me... has to be DMA, low brokerage, reliable, easy to use platform for CFDs, including ASX.

    From a fee point of view, Interactive Brokers look the best, but I don't think their platform is the easiest to use. And, teir demo doesn't cover ASX.

    I've looking into Etrade, Commsec and MFGlobal and IG Markets, their fees are too prohibitive. I'm not interested in Go Markets, CMC or the like...

    Can anyone recommend any others?


  2. #2

    Default Re: The ideal broker...

    Uh... what?

    DMA is a kind of CFD. I'm not aware of a broker called DMA.

    If IGMarket's fees are too high, where else are you looking? Generally IGM has good fees, just dodgy-as-hell execution.

    I'm now with MFGlobal, who have finally added brackets to conditional orders. Using WebIRESS, which is a pain, but reasonable fees (0.1% / $10 minimum) and reasonable margin. Not perfect by a long shot, but not overtly evil, either, which makes them the best I've found.

    ...not that I've got much experience with the others, so I'm open to new ideas. CMC seems ok (OCO and If-done orders, 0.1% commission), but I've not tried it.

  3. #3

    Default Re: The ideal broker...

    Sorry if that post sounded snarky. On a re-read it doesn't look like you did say DMA was a broker. So my bad.

    But yeah: IB has good fees, but no DMA at all. They only offer ASX listed CFDs, which are mutant troll children that no-one wants.

    IGM OTC are the lowest fees and highest margin you're likely to find, but they're dodgy (IMO). Even their DMA is a bit crud, with a seriously limited order set.

    MFG DMA is still pretty low fee, reasonably margin, and (so far) no really scary bull****, at least that I've been able to detect. Decent order range (as of this week) and a wonky-but-not-criminally-inept platform.

    ...but I'll leave the floor open for anyone else to add to that.

    Keep in mind I'm one of the biggest newbies on these boards, so don't take what I say as any kind of gospel.

  4. #4

    Default Re: The ideal broker...

    I am wondering the same thing. I am currently trading with Etrade and am thinking of switching to Power Etrade, but wonder if I should go with FPMarkets instead or even use CBS but the problem I have with the latter two is deciding whether my money is safe with these institutions. I feel comfortable with Etrade but Power Etrade is more expensive, but is it worth it for the safety?

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