FPM trading non-WebIress

ezyTrader · 15 June 2008

Hi all,

Seeing that I already have a data subscription with other providers, I am reluctant to use the WEBIRESS platform that FPM provides and pay more data fees. I was told that I could use the following link to place the orders into the market as an alternative. FPM order page

I was wondering if anyone is with FPM and uses their browser based order screens, and show us the ropes of using it?

PS: I'm only a new starter to CFD trading, so starting really conservative and small capital base, but would like to do a "set-and-forget" trade during the day, to review only after market hours.
The set-and-forget means, placing the trigger buy entry, a stop-loss, and possibly a trigger sell, all at the same time.

The other question of course is, if there are other providers who offer an alternate "data fee-free" order platform, with reasonable margin and comms. Asking this question before I have to make any more effort to fill in more account applications.

Thanks in advance.

AlterEgo · 15 June 2008

Hi,

I'm not with FPM (yet), although have been looking in to them recently. FPM tell me that if the data fee is of concern, they also have another product called FP Online:

This is very similar to webiress yet it is a HMTL platform. This means you do not get live data feed but each time you refresh the screen you get current prices, depth, charts etc.. FP Online has the same functionality as webiress but the big benefit is that it is free of charge.

This sounds like just what you're looking for!

mazzatelli1000 · 15 June 2008

Try CMC Markets

Low Commissions. Decent service for CFD's

Just a quick thought on your set and forget.

If your new to the game, you should spend more time monitoring your positions and learning as much as possible.

Otherwise, (and i hope you dont) you may get burnt.

badman_thelame · 15 June 2008

I am trading ASX CFD's and shares with FP Markets.

I have just come off my first month of free trading without exchange fees and also have an account with IG Markets from which I can get live data.

I have never heard of FP Online before, and it would be a great help if you can give me a link to it as I cannot find it. Being a small investor, saving $55.00 a month could make a big difference.

Any help will be very much appreciated.

AlterEgo · 15 June 2008

mazzatelli1000 said:
Try CMC Markets

NO, don't use them! They are Market Maker, not DMA. Wide spreads, more slippage. I used them years ago and will never go back to them.

AlterEgo · 15 June 2008

badman_thelame said:
I have never heard of FP Online before, and it would be a great help if you can give me a link to it as I cannot find it. Being a small investor, saving $55.00 a month could make a big difference.

Any help will be very much appreciated.

I had never heard of it either. I only found out about it when I emailed them (sales@fpmarkets.com.au). It may pay you to email, or phone and ask them about it.

ezyTrader · 15 June 2008

Well, guys, I had actually rung them to mention if there were any data fee-free platforms and they recommended the link on my previous post. But, that's it. Asked, but they didn't have any help documentation about it, the guys on the phone were very helpful, and said the orders could be phoned in, or, use the order page.

I know that FPM has also a shares trading product/service, wonder if the FP Online refers to shares instead of CFDs?

mazzatelli1000, thanks for your concern regarding the set-and-forget, rest assured it will be monitored daily after hours. My main aim here is so that I am not glued to the screen, and also be too distracted by market noise.

AlterEgo · 15 June 2008

ezyTrader said:
Well, guys, I had actually rung them to mention if there were any data fee-free platforms and they recommended the link on my previous post. But, that's it.

The guy that emailed me was Rick Williams, from "Sales". Maybe you should contact him, as he obviously knows about it. I've just sent a PM to you with his direct contact details.

ezyTrader · 15 June 2008

Thanks, AlterEgo

badman_thelame · 20 June 2008

Thanks Alter Ego.

Well, I gave FP Markets a call, and the new FP Online system still uses Iress technology.

Instead of using WebIress, which allowed live continuous data streaming, which attracted a fee of $55.00 including ASX royalty charges, the new FP online system uses htmlIRESS.

htmlIress provides live data, but it does not stream the data (i.e. you have to press refresh to recieve updated data). It still shows market depth and is a more basic version of the webIress system and was designed for home users.

Here is a link for the htmlIRESS system, and check out the pdf.

http://www.iress.com.au/products_detail.aspx?view=10

Cheers,

badman_thelame

AlterEgo · 21 June 2008

Cool, good to know that option is available.

I've just signed up for their htmlIRESS though. They tell me that they waive the $55 data fee if you do 20 or more trades in the month, and they also don't charge it if you don't log on at all during the month.

AlterEgo · 22 June 2008

AlterEgo said:
Cool, good to know that option is available.

I've just signed up for their htmlIRESS though. They tell me that they waive the $55 data fee if you do 20 or more trades in the month, and they also don't charge it if you don't log on at all during the month.

Whoops, I meant to say I signed up with the webIress version, not the htmlIRESS version.

FPM trading non-WebIress

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