CFD Providers – Australia
How do the CFD Providers stack up?
CFD Providers in Australia have always been fiercely
competitive in this rapidly growing
market. Advertising budgets for some CFD providers run into the millions as they look to
grab the largest share of the CFD market locally.
Australian
CFD Provider Comparision Chart Below
The market forCFD
providers in Australia hasn’t all been smooth sailing though. For
example during the 2008 Australian Market Meltdown CFD providers came under intense
heat as margincalls hit all time highs. Short selling was to blame for driving
the share
price down on many wellknown companies, like ABC Learning centers and all eyes
were
firmly planted on Australia’s CFDproviders.
Despite many financial share brokers (Opes Prime)
hitting hard times, the Australian CFD
providers have weathered the storm and are forging ahead strongly.
So which CFD Provider is right for you?
Which CFD Provider is by far the most common question
that is asked time and time again.
If you ask 10 people you’ll get 10 different answers and they are all correct. The most critical
thing you can do is identify the type of service your CFD trading plan will need to be successful trading
CFDs.
Once you identify the exact style of CFD trading you
will be doing then the right CFD
provider will appear.
To make life easier for you, we have built each CFD
provider profile based on some critical
services they should be providing you with. Here are questions you should be asking your
current or future CFD provider.
What are the key things to look for when selecting a CFD
provider?
-
Can you access to the top 300 ASX stocks. Most
active CFD traders only trade the top
300. Having access to additional CFDs outside this range is not paramount and
margins run close to standard share trading – 100% up front.
-
Can you short sell the top 200 ASX
stocks?
-
Do they use Direct Market Access (DMA) or a
Market Maker model?
-
Is the platform easy to operate?
-
Do you get access to customer support around the
clock?
-
What are their standard brokerage
rates?
-
What are their discount brokerage rates for
large volume/active traders?
-
Do they give you access to global
markets?
CFD Provider Comparison Chart - Australia
|
|
MF Global
|
CMC Markets
|
IG Markets
|
FP Markets
|
Macquarie Prime
|
Etrade
|
GFT
|
City Index
|
|
--Basics _
|
-----______
|
---------____
|
--------------
|
--------__
|
---------__-
|
-------____
|
--------------
|
_________
|
|
DMA or MM
|
DMA
|
MM
|
DMA
|
DMA
|
DMA
|
DMA
|
MM
|
MM
|
|
ASX CFDs Offered
|
500+
|
500+
|
1,000
|
2,000
|
950
|
500+
|
500
|
300
|
|
Pre Open Auction
|
Yes
|
No
|
|
Yes
|
Yes
|
Yes
|
|
No
|
|
Platform Used
|
eMPower
|
MarketMaker ®
|
IG Pure Deal
|
WebIress
|
MQ Prime
|
Power E*Trade
|
Dealbook® 360
|
City Index
|
|
Account Opening $
|
$5,000
|
$1,000
|
$0
|
$5,000
|
$5,000
|
$5,000
|
$2,500
|
$100
|
|
Software Demo Trial
|
21 days
|
14 days
|
14 days
|
14 days
|
14 days
|
20 days
|
20 days
|
No
|
|
Margin Rates
|
5-80%
|
3-50%
|
5-50%
|
5-100%
|
5-80%
|
5-80%
|
5-50%
|
5-100%
|
|
Commission
|
__________
|
__________
|
__________
|
________
|
_________
|
_________
|
__________
|
_________
|
|
%
|
0.125%
|
0.10%
|
0.10%
|
0.10%
|
0.12%
|
0.1195%
|
0.10%
|
0.10%
|
|
Phone Orders
|
0.175%
|
0.10%
|
0.10%
|
0.10%
|
|
0.175% +$38.50
|
0.10%
|
0.10%
|
|
Vol Discounts
|
0.08-0.10%
|
0.06-0.08%
|
$8 or 0.1%
|
Neg%
|
0.07-0.1%
|
0.10%
|
0.07-0.10%
|
|
|
Min Commission
|
$12.50
|
$10
|
$8
|
$10
|
$10
|
$11.95
|
$10
|
$10
|
|
_Financing_
|
--------------
|
_________--
|
--------------
|
-----------
|
-------------
|
------------
|
--------------
|
------------
|
|
Long CFDs
|
MBR +3%
|
RBA +2%
|
RBA +2.5%
|
RBA +3%
|
RBA +2.5%
|
RBA +3%
|
LIBOR +3%
|
RBA +2%
|
|
Short
CFDs
|
MBR -3%
|
RBA -2%
|
RBA -2.5%
|
RBA -3%
|
RBA -2.5%
|
RBA -3%
|
LIBOR -3%
|
RBA -2%
|
|
Interest Paid
|
MBR -1%
|
RBA-2% >$US10K
|
|
RBA -1%
|
7.25%
|
|
|
|
|
--Markets -
|
-------------
|
--------------
|
-------------
|
-----------
|
-------------
|
------------
|
-------------
|
------------
|
|
Int CFDs
|
7 Int
|
19 Int
|
20 Int
|
17 Int
|
No
|
No
|
12 Int
|
14 Int
|
|
CFD Indices
|
No
|
20
|
29
|
No
|
No
|
No
|
35
|
17
|
|
Forex
|
30+
|
72
|
64
|
Yes
|
No
|
No
|
123
|
64
|
|
Commodities
|
Yes
|
Yes
|
Yes
|
Yes
|
No
|
No
|
Yes
|
Yes
|
|
Futures
|
Yes
|
No
|
No
|
Yes
|
No
|
No
|
Yes
|
No
|
|
Options
|
No
|
No
|
Yes
|
No
|
No
|
No
|
No
|
No
|
|
Warrants
|
No
|
No
|
No
|
Yes
|
No
|
No
|
No
|
No
|
|
ASX Equities
|
No
|
Yes
|
No
|
Yes
|
Yes
|
No
|
No
|
No
|
|
Shares as Collateral
|
No
|
No
|
No
|
Yes
|
Yes
|
No
|
No
|
No
|
|
-- Fee's--
|
-------------
|
--------------
|
-------------
|
-----------
|
-------------
|
------------
|
-------------
|
------------
|
|
ASX fee
|
$41.25
|
$38.50
|
$37.50
|
$38.50
|
$41.25
|
Free
|
Free
|
Free
|
|
Platform fee
|
$40.70
|
Free
|
Free
|
$50
|
Free
|
$79.90
|
Free
|
Free
|
| OrderTypes |
-------------
|
--------------
|
-------------
|
-----------
|
-------------
|
------------
|
-------------
|
------------
|
|
GSL
|
No
|
Yes
|
Yes
|
No
|
Yes
|
No
|
Yes
|
Yes
|
GSL: Guaranteed Stop Loss Order
CFD Tutorial
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