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.
SO is it better than IB? I am so sick of IB account activation process.
Looks good. If i decide to register I'll go through Joe to support the site.
"Even the mightiest warrior can be crippled by self doubt" Sun Tzu (The Art of War)
pity you need a 20k acc balance.
Alright for all you big guys out there
nothings free. Trading anything that relies on MM's to give you a price is risky imo.
Don't take investment advice from seafood.
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!
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?
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?
$20k account balance is just to open the account then you leave $5k in there??
I can live with that.
Nice find tech.
Just curious because even on small parcels (say $5K) the loss of 1 tick can easily kill any commission savings.
Don't take investment advice from seafood.
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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.
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.
Up the Rats!!!!
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
Edit: Here's the DEMO ACCOUNT request form.
Last edited by Sir Burr; 23rd-October-2007 at 09:30 AM.
The platform is very basic and the orders are either buy/sell on stop or limit.