DMA CFD Broker?

beerwm · 15 October 2009

FPmarkets does have both platform and data.

data being -ASX royalties.

platform - being WebIRESS, - although... i believe they have a webplatform, which is fee-less/ free.

rnr · 15 October 2009

skyQuake said:
Even if they are DMA, google a bit to see if they do requotes.

Also check for EoD trades. A lot of them won't participate in opening and closing auctions for some reason.

Having used a DMA platform for some 2 years I believe I can safely say that I have never seen nor been subject to a requote and you can participate in the opening and closing auctions.

rnr · 15 October 2009

beerwm said:
FPmarkets does have both platform and data.

data being -ASX royalties.

platform - being WebIRESS, - although... i believe they have a webplatform, which is fee-less/ free.

You will probably find that the webIRESS fee includes the ASX royalty.

If you use FPM and pay both data fees and platform fees then I would give them a call and request that they sort out the problem which should result in a refund in your favour!

beerwm · 15 October 2009

rnr said:
You will probably find that the webIRESS fee includes the ASX royalty.

If you use FPM and pay both data fees and platform fees then I would give them a call and request that they sort out the problem which should result in a refund in your favour!

FP MARKETS:

ASX royalty and webIRESS platform

webIRESS is a state of the art platform provided to First Prudential Markets by IRESS. The monthly charge for accessing the webIRESS platform is $50 + GST. The monthly ASX royalty fee imposed by the ASX for live ASX data is $38.50. The webIRESS platform fee and ASX royalty fee can be waived for high volume clients.

similar [asx royalties] + [platform fees] apply to MFglobal. / and rebate policies... i believe

rnr · 16 October 2009

beerwm said:
FP MARKETS:

ASX royalty and webIRESS platform

webIRESS is a state of the art platform provided to First Prudential Markets by IRESS. The monthly charge for accessing the webIRESS platform is $50 + GST. The monthly ASX royalty fee imposed by the ASX for live ASX data is $38.50. The webIRESS platform fee and ASX royalty fee can be waived for high volume clients.

similar [asx royalties] + [platform fees] apply to MFglobal. / and rebate policies... i believe

Hi beerwm,

I understand that you are quoting from the FP Markets web site but given that webIRESS can only be used, at this stage, to access ASX data and also as a client of FPM this information appears confusing hence my suggestion to give them a call if you are being charged for both amounts.

If someone is doing a comparison on the basis of making a decision on which DMA broker to use then also give them a call.

Regards,

rnr

johnnyg · 16 October 2009

Thanks all for the replies so far, Ill add some more columns tonight and re-post.

boff · 19 October 2009

Can anyone advise which provider gives DMA access to the largest range of ASX shares.
I'm with IG, but they only list a subset of the ASX. OK, so it's quite a big list, but what is really annoying is that many of the stocks will be listed as closing only. This drives me up the wall, as I may have built up a big buffer from other trades going in my favour, but can't use that equity to open trades on some of the more volatile stocks meaning I need to purchase them outright with my stockbroker.
And yes, of course the margin requirement is 100% so I'm unsure what risk IG is exposed to. And the market is liquid, as through DMA I can see the trades going through.
I had a look at CMC and they seemed to have a few of the more volatile stocks listed as tradeable.
Cheers.

Paul Ellis · 6 November 2009

I have been using IG & FP Markets for DMA for a few months and so far no complaints except the spread on sector cfds for IG is huge. I bought a few mini contracts (health and consumer staple) and immediately you are in a $300-400 hole because of the buy/sell spread.

IG is really good for getting your offer or bid hit at the end of day after market trading auction.

weatherbill · 22 March 2010

I am looking for the bloker who can give me the best margin on CFD.

CMC has better margins tan IG, no?

Can't find IGs margins on particular stocks from their site? hmmm

Does someone else have better margins than CMC?

DMA CFD Broker?

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