Macquarie CFD account

• 22 August 2007

• #1

T

toucher

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Hi I'm thinking of changing from IGmarkets CFDs to macquarie CFDs for Macquaries lower guaranteed stop loss of 1% compared to IGmarkets 5%

The problem is on the Macquarie CFD site says you need a Macquarie cash account for CFDs so I followed the cash account signup and says it needs a minimum of 50,000 to open

Am I missing something?

 

• 22 August 2007

• #2

N

nomore4s

Commonsense isn't that common

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I think you'll find its $5000 not $50,000

 

• 23 August 2007

• #3

C

CFD

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Would be interesting to hear how you get on. I was think of making this change for the same reason. Not to sure how well their cfd trading platform compares. Also not sure about their gsl whereby they expire.

 

• 23 August 2007

• #4

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It's Snake Pliskin

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I started off with 10k then added to it. So 50k is bunk.

GSL cost and have an expiry.
The platform is ok with DM no market maker.

 

• 23 August 2007

• #5

N

nomore4s

Commonsense isn't that common

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It's Snake Pliskin said:

I started off with 10k then added to it. So 50k is bunk.

GSL cost and have an expiry.
The platform is ok with DM no market maker.

Click to expand...

Snake are you using the Prime platform as well or just CFDs?

Thanks

 

• 23 August 2007

• #6

BentRod

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The GSL's are adjustable also(during market hours).

The platform sucks but the service/support is pretty good.

I'm still undecided about Prime but it looks ok, need to do a bit more research before I make my mind up.

 

• 24 August 2007

• #7

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It's Snake Pliskin

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nomore4s said:

Snake are you using the Prime platform as well or just CFDs?

Thanks

Click to expand...

No just CFD's.

 

• 24 August 2007

• #8

hector

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BentRod said:

The GSL's are adjustable also(during market hours).

The platform sucks but the service/support is pretty good.

I'm still undecided about Prime but it looks ok, need to do a bit more research before I make my mind up.

Click to expand...

I'm waiting until their platform includes charting facility, was supposed to be up and running Jan/Feb this year but still hasn't appeared as far as I know.

 

• 25 August 2007

• #9

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toucher

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can anyone answer this question about macquaries prime/cfds gaurenteed stop loss facility?

does the 1% gsl move with the price?

example if i bought a stock at $98 with a 1% minimum GSL at $97

next day the stock moves up to $100 would the gsl move with the price and automatically set at $99? or would i have to set it manually?

 

• 25 August 2007

• #10

BentRod

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It has to be set manually.

 

• 25 August 2007

• #11

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toucher

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BentRod said:

It has to be set manually.

Click to expand...

ah i see, is there a fee for adjusting the gaurenteed stop loss?

 

• 25 August 2007

• #12

BentRod

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No there are no fees but I believe the GSL can only be moved the same distance from the current price as it was when you placed the trade.

IE. Buy XYZ @ $10.00 with a GSL @ $9.50

Next day XYZ opens @ $10.50, you can move your stop to $10.00 for no fee.

cheers