CFD Questions

skyQuake · 7 August 2009

$20shoes said:
What CFD brokers offer Buy Stop Limit orders? (That is, if I expect prices to move higher, I want to trigger a buy stop and only have my order filled if CFDs can be purchased within my my specified range).

Moving away from GoMarkets, there doesnt seem to be many - City Index do not, nor does IG Markets. I can't believe these contingent orders are not more common - if you're not in front of your screen how do you deal with gaps or orders filled at some faraway price caused by some fast movement.
Assume I may have to start forking out for IRESS platform??

Pretty sure IG does have it. Used it before, minimal slippage. I would suspect City Index to have it too, its a standard conditional order.

$20shoes · 7 August 2009

City Index don't, well at least on their demo (which I assume is fully functioning). They all have buy/sell stops and when you talk to them about stop limit orders they think you are tying to set a profit target.

Have just been speaking to First Prudential. They DO offer these contingent orders both though the SP Global (SAXO) platform and IRESS.

ojm · 7 August 2009

IG Markets have it - you have to be using their DMA account though.

$20shoes · 7 August 2009

Okay. Thanks ojm. I looked at their video tour on placing conditional orders and it didn't cover this, not did it look like an option. My bad!

$20shoes · 8 August 2009

$20shoes said:
City Index don't, well at least on their demo (which I assume is fully functioning). They all have buy/sell stops and when you talk to them about stop limit orders they think you are tying to set a profit target.

Have just been speaking to First Prudential. They DO offer these contingent orders both though the SP Global (SAXO) platform and IRESS.

For the sake of posterity, that is of course FP Global as opposed to "SP",

investorpaul · 18 August 2009

A quick question regarding Dividends.

I know when you are short a stock and it goes ex div you have to pay up but what if i short the Aussie 200 (though IG) will I have to pay for any divs if i hold over night?

if so how can i calculate the amount this would be?

Sugar Dunkaton · 18 August 2009

I dont know for sure, but i know from my experience with IG that they will try and sting you as much as possible on their mm platform. Havent had any experience with the L2 DMA platform

Krusty the Klown · 18 August 2009

investorpaul said:
A quick question regarding Dividends.

I know when you are short a stock and it goes ex div you have to pay up but what if i short the Aussie 200 (though IG) will I have to pay for any divs if i hold over night?

if so how can i calculate the amount this would be?

Usually yes, I'm using GFT and divs are taken out in full, it comprises whatever companies pay dividends that day.

The only way to calculate in advance is to know which companies go ex-dividend that day and what the payout is. If you find out a way please post it here.

Wysiwyg · 18 August 2009

investorpaul said:
A quick question regarding Dividends.

I know when you are short a stock and it goes ex div you have to pay up but what if i short the Aussie 200 (though IG) will I have to pay for any divs if i hold over night?

You will have to pay if any stock in the ASX200 goes ex-dividend while you have an open contract on their Aussie200.

if so how can i calculate the amount this would be?

Don`t know the formula but I think they use the weight of each stock (ex-divi) in the index, the dividend amount and the size of contract held.

Ex-dividend dates can be found here. http://www.incomeinvestor.com.au/

jono1887 · 18 August 2009

Wysiwyg said:
Ex-dividend dates can be found here. http://www.incomeinvestor.com.au/

dont you then have to work out the proportion that the company makes up of the index?

Wysiwyg · 18 August 2009

jono1887 said:
dont you then have to work out the proportion that the company makes up of the index?

Yes the index weighting and don`t know how. Originally answered below in the blue type.

skyQuake · 18 August 2009

http://www2.standardandpoors.com/spf/pdf/index/SP_ASX_200_Factsheet_A4.pdf

Shows the top 10. For more detailed free info, look up SPDRs (asx 200 index fund) They follow the index and show the weightnings.

Gringotts Bank · 8 September 2010

An unrelated question: Does "level 2" just mean DMA (as opposed to OTC contract dealing)?

Thanks.

Gringotts Bank · 9 September 2010

Just bumping this thread....

Anybody know what level 2 means?

Thanks.

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