FP Markets?
- Thread starter lenny
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Re: First Prudential $14.95 or 0.11% Trades
Hi Lenny,
I use FP Global (installed software) and have been very happy with that in itself. Brokerage is competitive, but the winner hands down is the availability of what you want to trade, it's nearly all there, CFD's, stocks, forex, futures, research, news, webinars, instructions and margin requirements, the only thing that may not be available, is maybe the Australian weather, which is now tradable.
Charting and tools are quite good along with data accuracy.
Biggest neg would be deposits/withdrawls, quite slow. Customer service is only australian business hrs unless that has been improved, haven't contacted them for some time.
Hi Lenny,
I use FP Global (installed software) and have been very happy with that in itself. Brokerage is competitive, but the winner hands down is the availability of what you want to trade, it's nearly all there, CFD's, stocks, forex, futures, research, news, webinars, instructions and margin requirements, the only thing that may not be available, is maybe the Australian weather, which is now tradable.
Charting and tools are quite good along with data accuracy.
Biggest neg would be deposits/withdrawls, quite slow. Customer service is only australian business hrs unless that has been improved, haven't contacted them for some time.
Wysiwyg
Everyone wants money
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Re: First Prudential $14.95 or 0.11% Trades
And CFD Direct Market Access. (DMA)
Cogs, if you yourself short any stocks with DMA, can you say you have seen the short sell order in the offer depth?
And CFD Direct Market Access. (DMA)
Cogs, if you yourself short any stocks with DMA, can you say you have seen the short sell order in the offer depth?
Re: First Prudential $14.95 or 0.11% Trades
Hi Coggs, Thanks for reply
How long does the money transfer take from bank account to cash management acc ?
Do you use html plateform or webiress ?
I am interested in html as i don't want to pay for data but want to look at market depth & also recieve cheap brokerage.
Hi Coggs, Thanks for reply
How long does the money transfer take from bank account to cash management acc ?
Do you use html plateform or webiress ?
I am interested in html as i don't want to pay for data but want to look at market depth & also recieve cheap brokerage.
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Re: First Prudential $14.95 or 0.11% Trades
Usually 1 - 2 days to complete a deposit into their account, and 2 - 3 days for withdrawls into your account, no problem with the withdrawls but others handle transactions much faster. Much like waiting for cheques to clear etc, unnecessary in todays electronic world IMO. City Index is immediate deposit for example.
I guess you could call it the HTML platform, but there is various code in there apart from HTML, but I am not using webIRESS. I am not really interested in ASX (lack of liquidity).
Yep I forgot about the market depth, albeit only 10 deep.
Usually 1 - 2 days to complete a deposit into their account, and 2 - 3 days for withdrawls into your account, no problem with the withdrawls but others handle transactions much faster. Much like waiting for cheques to clear etc, unnecessary in todays electronic world IMO. City Index is immediate deposit for example.
I guess you could call it the HTML platform, but there is various code in there apart from HTML, but I am not using webIRESS. I am not really interested in ASX (lack of liquidity).
Yep I forgot about the market depth, albeit only 10 deep.
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Re: First Prudential $14.95 or 0.11% Trades
Wysiwyg,
I am not interested in market depth, or at least the depth feature they have, it's really just a pretty box on the side and not a worthwhile tool for how I like to trade. Too many false bids and sells and only 10 deep.
So sorry mate can't answer your question.
Wysiwyg,
I am not interested in market depth, or at least the depth feature they have, it's really just a pretty box on the side and not a worthwhile tool for how I like to trade. Too many false bids and sells and only 10 deep.
So sorry mate can't answer your question.
Wysiwyg
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First Prudential Markets???
I am looking at changing over from AOT to First Prudential Markets as their brokerage rates and Irress access are substantially cheaper..
Anyone use them already or have in the past?? Good, Bad Ugly???
Any experiences greatly appreciated.
Regards,
Benwex
I am looking at changing over from AOT to First Prudential Markets as their brokerage rates and Irress access are substantially cheaper..
Anyone use them already or have in the past?? Good, Bad Ugly???
Any experiences greatly appreciated.
Regards,
Benwex
Re: First Prudential Markets???
So you're using the old AOT WebIRESS platform with Commsec? I also used that platform, but am now using First Prudential Markets WebIRESS platform. I haven't had any trouble with it. It's very similar to the AOT version of WebIRESS, but seems to have had a few improvements made to it. You can also trade DMA CFD's on the same platform, as well as shares (assuming you sign up for both).
Oh, one advantage that AOT had over FPM was that you could do several trades in the one stock during the day and only get charged for one trade. With FPM, as with most brokers, you get charged separately for each trade, so could cost you more if you're in the habit of scaling in and out of positions throughout the day. Also, you say that FPM is cheaper - yes the trade minimum is about half, so if you're doing smaller trades of say < $15,000 than FPM would be cheaper, but if you're doing larger trades of say > $30,000 then AOT would be cheaper as AOT's charges were fixed at $33 no matter how large the trade (up to $1 million)!
So you're using the old AOT WebIRESS platform with Commsec? I also used that platform, but am now using First Prudential Markets WebIRESS platform. I haven't had any trouble with it. It's very similar to the AOT version of WebIRESS, but seems to have had a few improvements made to it. You can also trade DMA CFD's on the same platform, as well as shares (assuming you sign up for both).
Oh, one advantage that AOT had over FPM was that you could do several trades in the one stock during the day and only get charged for one trade. With FPM, as with most brokers, you get charged separately for each trade, so could cost you more if you're in the habit of scaling in and out of positions throughout the day. Also, you say that FPM is cheaper - yes the trade minimum is about half, so if you're doing smaller trades of say < $15,000 than FPM would be cheaper, but if you're doing larger trades of say > $30,000 then AOT would be cheaper as AOT's charges were fixed at $33 no matter how large the trade (up to $1 million)!
FP Markets -- too good to be true?
FPM seem like they have it all- fair rates, international access, futures, cfds (DMA mode), shares, forex and most importantly they seem fairly trustworthy. Almost too good to be true.
Anyone with these guys, and would like to share their experiences?
Thanks in advance
FPM seem like they have it all- fair rates, international access, futures, cfds (DMA mode), shares, forex and most importantly they seem fairly trustworthy. Almost too good to be true.
Anyone with these guys, and would like to share their experiences?
Thanks in advance
skc
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Re: FP Markets -- too good to be true?
I had a small account with them last year as a trial. My experiences were mostly positive and quite similar to your own impressions.
The only thing to note is that it is a private company. While it is regulated by ASIC etc, you are not privy to their balance sheet and hence has no means of assessing its financial stability. They do use client money to hedge their positions (as allowed by ASIC), so the client segregated account only offer partial protection. On the other hand, there may be benefit of being a private company - managers are closer to the owners and are less likely to engage in illegal / risky behaviours that jepodise the firm.
I am absolutely not saying there's anything wrong with their finance or integrity etc, but there is just no way for me to assess that now or into the future. For a small time punter with $20k, it may not be a big deal. But for someone who trades full time and needs his capital protected from counterparty risks, it's a deal breaker.
FPM seem like they have it all- fair rates, international access, futures, cfds (DMA mode), shares, forex and most importantly they seem fairly trustworthy. Almost too good to be true.
Anyone with these guys, and would like to share their experiences?
Thanks in advance
I had a small account with them last year as a trial. My experiences were mostly positive and quite similar to your own impressions.
The only thing to note is that it is a private company. While it is regulated by ASIC etc, you are not privy to their balance sheet and hence has no means of assessing its financial stability. They do use client money to hedge their positions (as allowed by ASIC), so the client segregated account only offer partial protection. On the other hand, there may be benefit of being a private company - managers are closer to the owners and are less likely to engage in illegal / risky behaviours that jepodise the firm.
I am absolutely not saying there's anything wrong with their finance or integrity etc, but there is just no way for me to assess that now or into the future. For a small time punter with $20k, it may not be a big deal. But for someone who trades full time and needs his capital protected from counterparty risks, it's a deal breaker.
Re: First Prudential Markets???
I placed a limited sell order at a price on a stock on their FPlive platform but it executed the order at a lower price, resulting in a significant loss to me. The platform sucks. If I knew the platform may screw up, I would have done a screen dump to prove my case. A very bad experience.
I placed a limited sell order at a price on a stock on their FPlive platform but it executed the order at a lower price, resulting in a significant loss to me. The platform sucks. If I knew the platform may screw up, I would have done a screen dump to prove my case. A very bad experience.
skc
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Re: First Prudential Markets???
What is the FPlive platform?
What stock was it and how did you place the order?
Placing a limit sell order is quite a basic operation for a trading platform so may be there was an user error?
What is the FPlive platform?
What stock was it and how did you place the order?
Placing a limit sell order is quite a basic operation for a trading platform so may be there was an user error?
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Could it be that the exchange upon which the underlying instrument is traded does not support limit orders? (i.e. "limit order" triggered on CFD provider platform results in "at market order" placement on the relevant exchange.)
Re: First Prudential Markets???
I signed up with FP markets last week. I only funded my account with $1200 as it's my first time trading CFDs.
They do offer sell limit orders on FP live from what I saw though I haven't used them so I can say for sure if it's functional. I'd be contacting customer service and asking for them to make up the price if it is their fault if it happened to me. Their CS team are easily contactable and so far I've found them helpful.
I don't think FP live allows stop losses, so that's a real downer.
The FP live platform is a bit simple, but it's free. I've been using another company's webiress but will be changing over to FP market's version tomorrow so I'll keep you posted on what it's like. I've been told it does support SLs and I believe they are free to use.
I signed up for a starter account that they advertise has commissions of a minimum of $1 for an initial period but I just got a statement form them showing me they have billed me $10, so I'm waiting for an answer about that. If they do have $1 minimum commissions it will be a great starting account for me. If their advertising was misleading I'll be letting you know that, too.
I signed up with FP markets last week. I only funded my account with $1200 as it's my first time trading CFDs.
They do offer sell limit orders on FP live from what I saw though I haven't used them so I can say for sure if it's functional. I'd be contacting customer service and asking for them to make up the price if it is their fault if it happened to me. Their CS team are easily contactable and so far I've found them helpful.
I don't think FP live allows stop losses, so that's a real downer.
The FP live platform is a bit simple, but it's free. I've been using another company's webiress but will be changing over to FP market's version tomorrow so I'll keep you posted on what it's like. I've been told it does support SLs and I believe they are free to use.
I signed up for a starter account that they advertise has commissions of a minimum of $1 for an initial period but I just got a statement form them showing me they have billed me $10, so I'm waiting for an answer about that. If they do have $1 minimum commissions it will be a great starting account for me. If their advertising was misleading I'll be letting you know that, too.
Re: First Prudential Markets???
I'm finally getting around to giving an update. FP Markets have been good to deal with. While I'm now trading other products through other service providers, but I still find them the best for ASX CFDs.
I'm finally getting around to giving an update. FP Markets have been good to deal with. While I'm now trading other products through other service providers, but I still find them the best for ASX CFDs.
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Anyone using FP to day trade or large volume (PM me if you like).
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