CFD shonkeys

moXJO · 15 October 2008

Do the quote times start to lag about 5-15 secs when you try and buy and sell on anyone else’s platform? Not only that I was getting quotes 10 points above or below (not in a good way) the actual trade price every so often. And the trading screen would freeze (my comp is working fine as well) Even though I still managed to get a good gain on the account. I think I might stay away from cfd providers, their trading platform sucks hard.

I started trading cfds again last week and now I remember why I gave them away.

Sunder · 15 October 2008

Comsec's ASX CFD platform sucks

Their idea of "at market", is to place an order 1 point higher than the next best bid/offer... and leave it at that. And not let you cancel or amend the order.

That means if the market traded between you hitting "place order", and then entering your password and confirming, your order would be stuck there, until the market revisited you.

Also, the market maker doesn't seem to keep the spread near enough to the underlying security. I've seen spreads up to 48 points away from the underlying security (In this case, the SPI200) on the close side, let alone the far side... that's about 1.2% off!

white_goodman · 15 October 2008

ig's platform si quite good with forex spreads and quoting real prices

lesm · 15 October 2008

white_goodman said:
ig's platform si quite good with forex spreads and quoting real prices

While IG's fx spreads are quite good they have been having issues with their chart provider. Even their help desk acknowledges this, have this in writing via an email, where they quote technical difficulties.

Over the last week or two there have been observable differences between the chart price and the deal ticket price. The mid-price on the chart can be observed to be outside of the bid/ask spread and on gpb/usd alone there has been anything up to a 12 pip differential betwen the price displayed on the chart and the actual prices on the deal ticket.

It has not been unusual to observe the bars/candlesticks move in one direction and the deal ticket or the price displayed on the position screen move in opposite directions due the lag on the charts.

When trading off the charts the level of lag being experienced is unacceptable.

Have been running a screen cam on this behaviour, so that I can send it to them. Have already raised a complaint.

The lag effect on the charts has also been raised on the thread related to IG Markets.

What is interesting is that they have a known issue, but there have been no notifications issued to IG Market platform users.

Boggo · 15 October 2008

Have you guys had a look at Marketech ?
No international markets but all the ASX stocks and eight of the ASX S&P indices.

Never had a glitch with their software and "Benny" is always by the phone.

Just my

treefrog · 15 October 2008

Boggo said:
Have you guys had a look at Marketech ?
No international markets but all the ASX stocks and eight of the ASX S&P indices.

Never had a glitch with their software and "Benny" is always by the phone.

Just my

Hi Boggo - have you established if the indices are quoted "in synch" with the relevant ASX index values or whether they make their own market levels to give themselves a better margin? - like most others do

finnsk · 15 October 2008

moXJO said:
Do the quote times start to lag about 5-15 secs when you try and buy and sell on anyone else’s platform? Not only that I was getting quotes 10 points above or below (not in a good way) the actual trade price every so often. And the trading screen would freeze (my comp is working fine as well) Even though I still managed to get a good gain on the account. I think I might stay away from cfd providers, their trading platform sucks hard.

I started trading cfds again last week and now I remember why I gave them away.

I have not had any problems I use FPM who do you use?

Boggo · 15 October 2008

treefrog said:
Hi Boggo - have you established if the indices are quoted "in synch" with the relevant ASX index values or whether they make their own market levels to give themselves a better margin? - like most others do

I am running Iress as well on another computer looking at a 1 min chart of the XJO and if anything the the watchlist data update figures on Marketech seem to be more responsive than Iress depth update.

Their order execution is instantaneous.

Run their trial and compare.

Ring Benny on 1800 005 955 if you have a query

white_goodman · 15 October 2008

lesm said:
While IG's fx spreads are quite good they have been having issues with their chart provider. Even their help desk acknowledges this, have this in writing via an email, where they quote technical difficulties.

Over the last week or two there have been observable differences between the chart price and the deal ticket price. The mid-price on the chart can be observed to be outside of the bid/ask spread and on gpb/usd alone there has been anything up to a 12 pip differential betwen the price displayed on the chart and the actual prices on the deal ticket.

It has not been unusual to observe the bars/candlesticks move in one direction and the deal ticket or the price displayed on the position screen move in opposite directions due the lag on the charts.

When trading off the charts the level of lag being experienced is unacceptable.

Have been running a screen cam on this behaviour, so that I can send it to them. Have already raised a complaint.

The lag effect on the charts has also been raised on the thread related to IG Markets.

What is interesting is that they have a known issue, but there have been no notifications issued to IG Market platform users.

ive noticed this aswell.. i try and not do any trades when i see this... but yeh the lag can be quite annoying, good to hear it wasnt just my internet connection

treefrog · 15 October 2008

Boggo said:
I am running Iress as well on another computer looking at a 1 min chart of the XJO and if anything the the watchlist data update figures on Marketech seem to be more responsive than Iress depth update.

Their order execution is instantaneous.

Run their trial and compare.

Ring Benny on 1800 005 955 if you have a query

thanks - rang benny and have downloaded their platform
from discuss seems they are true ASX sector quotes with minimum spread difference which depends on market volatility - typically 2points on XJO and 3 on sectors
very promising cf others

Boggo · 15 October 2008

treefrog said:
thanks - rang benny and have downloaded their platform
from discuss seems they are true ASX sector quotes with minimum spread difference which depends on market volatility - typically 2points on XJO and 3 on sectors
very promising cf others

Their spread on the XJO has been out to 8 at one point today but it was volatile at that time. Benny was about to get a call when it closed in but not to 2 though. Since the lack of shorting I have noticed that the spreads are often wider and for longer periods ?

Mike

el caballo · 15 October 2008

The pity here is that Marketech (Sean Parker, very good rep) tell me that they won't have currencies or international indices up and running for 6+ months. IG are currently the best option, unfortunately. Lesm makes a great point - a known issue of immense criticality (particualrly if one is moving size), and yet handled in a clandestine fashion.

nuking · 15 October 2008

moXJO said:
Do the quote times start to lag about 5-15 secs when you try and buy and sell on anyone else’s platform? Not only that I was getting quotes 10 points above or below (not in a good way) the actual trade price every so often. And the trading screen would freeze (my comp is working fine as well) Even though I still managed to get a good gain on the account. I think I might stay away from cfd providers, their trading platform sucks hard.

I started trading cfds again last week and now I remember why I gave them away.

moXJO
was that happen with CMC platform?
i think they move anyone trade with large positions to manual dealing desk instead of the automatic one.
i was making some money from bucket shop until they keep requotes and lag from 10 sec to 5 min.

CFD shonkeys

moXJO

menace to society

Sunder

white_goodman

BOC

lesm

Boggo

treefrog

finnsk

Boggo

white_goodman

BOC

treefrog

Boggo

el caballo

nuking

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