Using MF Global's eMpower to trade CFDs

Ashsaege · 26 February 2009

Just wandering if anyone else uses MF Global's eMpower to trade CFD's?

I've just signed up for a demo account. I've only used it for about 10 minutes.

I was using a GFT demo account, but did some more research on Market Makers compared to Direct Market Access... and I've decided to learn towards a DMA providers.

What are peoples thoughts on eMpower?

Ashsaege · 2 March 2009

Re: Using MF Global's eMpower to trade CFD's

has anyone got any experience with MF Global?

MS+Tradesim · 2 March 2009

Looks like none of the active members here use them or I think you would have had a reply.

Another option for DMA - have a look at Go Markets.
http://www.gomarketsaus.com/cfds

Their starting fees are lower and their reduced fees for active traders are even more attractive. I have just opened an account with them but haven't started trading with them yet so can't comment on their service/stability - I have however, had very prompt and useful replies to all of my questions so far. The currency traders here rate them well for FX, so I'm hoping their CFD service is comparable.

I'm also trading ASX CFDs on Interactive Brokers. They allow you go long or short on the ASX50 shares, including short on financials. Only drawback I've found so far with ASX CFDs is low liquidity, but I haven't suffered due to that. On the very low liquidity ASX CFDs the spreads are crap but that can be largely overcome with limit orders and entry timing by keeping a close eye on the share for short-term peak/troughs. More info here:
http://www.asx.com.au/products/cfds/index.htm

Ashsaege · 2 March 2009

MS+Tradesim said:
Looks like none of the active members here use them or I think you would have had a reply.

Another option for DMA - have a look at Go Markets.
http://www.gomarketsaus.com/cfds

Their starting fees are lower and their reduced fees for active traders are even more attractive. I have just opened an account with them but haven't started trading with them yet so can't comment on their service/stability - I have however, had very prompt and useful replies to all of my questions so far. The currency traders here rate them well for FX, so I'm hoping their CFD service is comparable.

I'm also trading ASX CFDs on Interactive Brokers. They allow you go long or short on the ASX50 shares, including short on financials. Only drawback I've found so far with ASX CFDs is low liquidity, but I haven't suffered due to that. On the very low liquidity ASX CFDs the spreads are crap but that can be largely overcome with limit orders and entry timing by keeping a close eye on the share for short-term peak/troughs. More info here:
http://www.asx.com.au/products/cfds/index.htm

cheers mate

I've checked out the Go Markets website and also checked out what has been said on here. It seems that some people are not convinced it is a DMA provider but a MM provider.

MS+Tradesim · 2 March 2009

They do both - at least, that's what they told me.

glenn_r · 2 March 2009

Ashsaege said:
cheers mate

I've checked out the Go Markets website and also checked out what has been said on here. It seems that some people are not convinced it is a DMA provider but a MM provider.

They use the Saxo platform to offer both MM and a Claytons DMA CFD's, you cannot trade the DMA offered during the opening and closing auction and there are restrictions on how far away from the current price you can set conditional stop and limit orders, which sucks.

If your after a fair dinkum DMA CFD have a look at FP Markets, MF Global or Macquarie.

MS+Tradesim · 2 March 2009

Thanks for that info Glenn.

MS+Tradesim · 2 March 2009

Ps. GO Markets' website says you can participate in pre- and post- trading. Has that changed or does it only apply to their MM CFDs?

jersey10 · 2 March 2009

I'm in the process of signing up for an MF Global account. Haven't used their demo. I got sick of Interactive Brokers having no Aus shares available for shorting so i'm going to trade Aus shares through MF Global.

Ashsaege · 2 March 2009

jersey10 said:
I'm in the process of signing up for an MF Global account. Haven't used their demo. I got sick of Interactive Brokers having no Aus shares available for shorting so i'm going to trade Aus shares through MF Global.

I've found the demo account on MF Global not very user friendly. Im not sure if you need a seperate data provider for charts.
I've already received a call from MF Global, and i'm expecting another one to see how i am going and if i need any help. They also said they could extend the demo version for a couple more weeks if i need it.

MS+Tradesim · 3 March 2009

Glenn,

When was the last time you used GO for CFDs? I just contacted them and they advised that one can trade the open/close auctions with their DMA CFDs. As for distance restrictions on conditional orders, that's irrelevant to my strategies so that's not a problem but the auctions are important!

I will know for sure after I fund the account and see for myself.

glenn_r · 3 March 2009

MS+Tradesim said:
Glenn,

When was the last time you used GO for CFDs? I just contacted them and they advised that one can trade the open/close auctions with their DMA CFDs. As for distance restrictions on conditional orders, that's irrelevant to my strategies so that's not a problem but the auctions are important!

I will know for sure after I fund the account and see for myself.

I should clarify my point when I used them a few months ago if you had an order in @ the auction price before the market closed, it will trade but you couldn't make a new order or adjust an existing order after the 4.00pm close.

Also their market depth only had 5 price levels which is not good enough if your looking for support/resistance levels in the depth.

Maybe they have changed, let me know after you start live trading.

MS+Tradesim · 3 March 2009

Thanks mate. I will update once I'm familiar with their setup.

rossw · 3 March 2009

another idea for you guys looking to get short is via lepos in the options market
it's a 1c call option

you do need to take not of expiry's and div's, but worth a look
each lepo is for 1000 shares of the underlying

jersey10 · 3 March 2009

MF Global are running seminars over the next few weeks in Sydney, Melbourne and Brisbane. May be of benefit if you are new to MF Global.

http://www.mfglobal.com.au/promo-pages/get-your-free-cfd-trading-shot.html

Ashsaege · 20 April 2009

jersey10 said:
MF Global are running seminars over the next few weeks in Sydney, Melbourne and Brisbane. May be of benefit if you are new to MF Global.

http://www.mfglobal.com.au/promo-pages/get-your-free-cfd-trading-shot.html

Did anyone attend these seminars?

Does anyone have a strong opinion on MFGlobal??

beamstas · 21 April 2009

Ashsaege said:
Did anyone attend these seminars?

Does anyone have a strong opinion on MFGlobal??

MF Global are great
Alot of people i know use MF Global to trade

Im using Go Markets at the moment. When you sign up request DMA access and they give you another "account" you can use for DMA

When buying shares remember to select the DMA option rather than the MM option

Kryzz · 21 April 2009

Is MF Global's eMpower the same as First Prudential Markets WebIress platform, or just similar? Have a demo account with FP at the moment, platform seems quite good, customer service really good as well.

Have an account with Go Markets atm too, anyone know if you are you able to place a stop (stop loss) order before a position is entered into?

Thanks,

Shaun.

beamstas · 21 April 2009

Kryzz said:
Is MF Global's eMpower the same as First Prudential Markets WebIress platform, or just similar? Have a demo account with FP at the moment, platform seems quite good, customer service really good as well.

Have an account with Go Markets atm too, anyone know if you are you able to place a stop (stop loss) order before a position is entered into?

Thanks,

Shaun.

Hi Shaun

Currently you can't set stops before a position is opened at Go Markets
I have been on to them about it and they said it's something that they will have available soon

Brad

glenn_r · 21 April 2009

beamstas said:
Hi Shaun

Currently you can't set stops before a position is opened at Go Markets
I have been on to them about it and they said it's something that they will have available soon

Brad

I cranked up my old account at Go(saxo) and you can still do "if done" orders to set up stop loss and profit limit orders if your original order gets triggered.

Using MF Global's eMpower to trade CFDs

Ashsaege

Ashsaege

MS+Tradesim

Ashsaege

MS+Tradesim

glenn_r

MS+Tradesim

MS+Tradesim

jersey10

Ashsaege

MS+Tradesim

glenn_r

MS+Tradesim

rossw

jersey10

Ashsaege

beamstas

Kryzz

shaun

beamstas

glenn_r

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