Macquarie CFD account

[toucher]

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?

 

[nomore4s]

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

 

[CFD]

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.

 

[It's Snake Pliskin]

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.

 

[nomore4s]

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.

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

Thanks

 

[BentRod]

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.

 

[It's Snake Pliskin]

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

Thanks

No just CFD's.

 

[hector]

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.

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.

 

[toucher]

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?

 

[BentRod]

It has to be set manually.

 

[toucher]

It has to be set manually.

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

 

[BentRod]

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