Marketech CFDs: How good are they?

yonnie · 12 May 2007

hi folks,

Marketech:
CFD`s on all shares of the ASX
commission 0.1% with a minimum of $ 10
interest charged/received at +/- 2%
funds not insured
DMA platform free

anybody trading with them and how is the service?

azure · 16 May 2007

Re: Marketech CFD's: how good are they?

I have used Marketech for the past two years and I have been quite happy with their service. Their platform is my favorite of all the platforms I have used (vs CMC, Commsec Pro Trader, Web Iress). It is a Java based windows app developed by Saxobank.

I particularly like how easy it is to set stop loss, limit, OCO orders and the support for trailing stops.

As well as Aussie CFDs there are numerous other bourses supported, plus FX including gold and silver crosses (XAUUSD, etc)

The beginning of last year they increased the margin requirements for many CFDs, although they seem to compare well against other DMA providers, but not CMC.

yonnie · 17 May 2007

Re: Marketech CFD's: how good are they?

hi azure,

got a message from Marketech saying they devoloped a new platform in-house, changed margin rates, have cfd`s on all ASX shares, increased the interest rates and no more foreign exchanges.

Have you tried their new platform?

Any idea when those changes take effect, as on their web site its still +/- 1% interest and that has changed now to +/- 2%?

I assume they`re not anymore under Saxobank

thanks

PoINT5 · 9 June 2007

Marketech new platform

marketech has a new platform for trading, shows depth/volume many new features and new layout just wondering what other marketech traders thought/think about it.

i like it alot more then the last/original platform with the new features it seems more professional and could suit daytraders alot more.

:shoot::ald::sword:

PoINT5 · 9 June 2007

Re: Marketech CFD's: how good are they?

Features

ASX Direct Market Access (DMA) CFDs
Trade on EVERY listed ASX stock 2000+
Improved Margin Rates
Improved Account Management
Earn Interest on Deposits Above $10,000 ( No ASX Fees for balances over $10,000 )
Trades starting from $10/0.1%
Financing OCR +/- 2% (note this has increased in order to offer a full DMA service)
The new platform will act as a replacement for Marketech’s current online trading platform. Marketech will focus on delivering the best ASX CFD trading platform available - offering CFDs on ALL ASX listed stocks - and therefore will no longer be offering overseas stocks or Margined FX trading.
This platform has been developed in-house by Marketech to suit the specific needs of ASX CFD traders and investors.

Boggo · 10 June 2007

Re: Marketech CFD's: how good are they?

Have had a look at their site, cannot see anything about new platform or DMA ??

jammin · 10 June 2007

Re: Marketech CFD's: how good are they?

PoINT5 said:
Features

ASX Direct Market Access (DMA) CFDs
Trade on EVERY listed ASX stock 2000+
Improved Margin Rates
Improved Account Management
Earn Interest on Deposits Above $10,000 ( No ASX Fees for balances over $10,000 )
Trades starting from $10/0.1%
Financing OCR +/- 2% (note this has increased in order to offer a full DMA service)

Hi Points,
I just checked their web site and it has not been updated to reflect the features you refer to.
I include their explanation, as listed on their web site, of the commision charges
Commissions:
Trading Commissions are charged at approximately 0.1% of the trade value. This amount is not charged as a separate commission, but rather incorporated into the price of the product through widening of the bid/ask spread.
Trades below a notional value of $10,000 will also attract a ticket fee of $10.

The features you refer to, namely access to 2000 ASX stocks, are way ahead of the competition. Do you know what percentage of that 2000 are shortable? Are they giving a timeframe when the new platform wil be released?

ben007 · 10 June 2007

Re: Marketech CFD's: how good are they?

I went to a Maquarie seminar on Monday night in Melbourne put on for clients of *************. They were doing a pre release of a new product called Macquarie Prime, and I must say that I was super impressed. In fact if you have any combination of the following, share trading account, a margin loan account, Cash management account or CFD account, then this new product replaces them all. It cross calateralises positions so long and short positions ofset each other in terms of margin required and interest payments. I am setting one up as now I will not need serveral accounts, user names and passwords.

yonnie · 10 June 2007

Re: Marketech CFD's: how good are they?

ben007 said:
I went to a Maquarie seminar on Monday night in Melbourne put on for clients of *************. They were doing a pre release of a new product called Macquarie Prime, and I must say that I was super impressed. In fact if you have any combination of the following, share trading account, a margin loan account, Cash management account or CFD account, then this new product replaces them all. It cross calateralises positions so long and short positions ofset each other in terms of margin required and interest payments. I am setting one up as now I will not need serveral accounts, user names and passwords.

I was keen to join until I noticed that they dont offer the full ASX stocks, not even on the share trading account, but around 1800 out of 2200 I think. I`m mainly in the penny stocks, so Macquarie Prime is out for me.

Also be aware that when you short stocks as "CFD`s" you pay a borrowing cost to short, because they dont do CFD`s anymore.
Now you can buy stocks, you can buy stocks with a margin loan or you can buy stock on margin (formerly CFD`s) as I understand it.

Macquarie charges a minimum of $ 20 per trade.

ben007 · 11 June 2007

Re: Marketech CFD's: how good are they?

I think you need to read the Macquarie info again or call them as they do indeed still provide CFDs and therefore you can still trade down buy selling a CFD. Also the leverage on available on shares is much higher than available on any margin loan. As far as costs I still thought thier minimum was still $10, but I will have to check that out. Not that it bothers me as I am tradng more than that anyway and the brokerage is still very reasonable.

I also believed from the other nights seminar that you can buy any share listed on the ASX (this is not so with thier CFDs trading). As far as short selling, ask yourself when did you ever do that especially on penny shares? In case you do not know short selling is actually selling the pysical share without owning it therefore it needs to be borrowed from somewhere to sell hence the fee. This is a common fee with any boker providing short selling, and this is why more people chose to go short using options of CFDs.

I am not sure what you want as even 1800 shares is too many to chose from how many can you trade? I have been trading for more than a decade and never go outside the top 300 and never need to. They are easier to trade, present less risk and I can still make a lot of money on them. Many people think that by trading penny dreadfuls that they can make more which in my experince is simply not true.

yonnie · 11 June 2007

Re: Marketech CFD's: how good are they?

ben007 said:
I think you need to read the Macquarie info again or call them as they do indeed still provide CFDs and therefore you can still trade down buy selling a CFD. Also the leverage on available on shares is much higher than available on any margin loan. As far as costs I still thought thier minimum was still $10, but I will have to check that out. Not that it bothers me as I am tradng more than that anyway and the brokerage is still very reasonable.

I also believed from the other nights seminar that you can buy any share listed on the ASX (this is not so with thier CFDs trading). As far as short selling, ask yourself when did you ever do that especially on penny shares? In case you do not know short selling is actually selling the pysical share without owning it therefore it needs to be borrowed from somewhere to sell hence the fee. This is a common fee with any boker providing short selling, and this is why more people chose to go short using options of CFDs.

I am not sure what you want as even 1800 shares is too many to chose from how many can you trade? I have been trading for more than a decade and never go outside the top 300 and never need to. They are easier to trade, present less risk and I can still make a lot of money on them. Many people think that by trading penny dreadfuls that they can make more which in my experince is simply not true.

Macquarie still calls it CFD but in fact you buy those shares on margin in YOUR name and thats why you will also receive not only the dividend but also the franking.
Thats why they will charge you a borrowing fee if you short sell those "CFD`s".

I would never make a statement like you made here that people cant make more trading penny stocks than the ASX300. I`m doing those penny dreadfuls for 9 years now and without leverage I double my money.

There are so many ways of playing the market and just because you were not succesful in one area does not mean that somebody else can`t be succesful.

Marketech CFDs: How good are they?

yonnie

azure

yonnie

PoINT5

PoINT5

Boggo

jammin

the amp's turned up to 11

ben007

yonnie

ben007

yonnie

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