Hi Aaron,

I have heard many similar stories regarding CMC and another provider.

It is good to see you are doing some research into this as many do not and merely take the first provider they find, assuming they are all the same

I don't know who you were talking to at Sonray, but Sonray provide both Direct Market Access and Market Maker services, remembering that Sonray is a Saxo white Label and therefore it is the Saxo platform being used.

When I was initially looking for a provider, it was GET (Saxo platform) and MAN that I was finally looking at, I had discounted CMC & IG as bookmakers (they both started off as betting agencies) and I went to see each of them. I got along very well with Nigel from GET and started with them.

I have gone to Sonray because we can trade both shares and CFD's from the one account on the one platform.

Each person needs to do their own research and use a provider they feel comfortable with, as there are many out there now each with their good points and bad points. What I believe is that we should understand totally and be comfortable with the platform we use regardless of which platform that is, however no-one can do this until they have - as Rob says - "backtested and paper traded" the provider and platform.

Have a great week all

Peter Varcoe
Senior Lecturer
ACOFE

If you do not get Direct Market Access (DMA) you are trading against the provider. The provider becomes the broker AND opposite side of your deal. Remember that the providers are not beneficial organisations so they do not necessarily rejoice in YOUR success.

You may expect to pay a bit more for DMA brokerage ... but you wil probably pick it up in better "fills" at the current market price.

Hi Peter
I see you're suggesting Saxo from Sonray in Melbourne. I was about to sign up with Sonray on the Gold Coast, are they one & the same? I note Sonray don't provide a stop loss according to www.cfdproviders.com. Any comments, Moira

Hi Moira,

Yes they are the same company and now have a Qld office in Surfers.

The platform does have stop facilities, but does not have guaranteed stops if that is what you mean.


Regards

Peter

Hi All,

I have been trading with Green CFD for a while, they are not DMA but have a slightly different system to most of the others. At the moment you can set up a small acount and trade commission free for the first two months. they do have GSL.

I will reserve my full opinion until i have had more experience with them but so far so good.

Regards,
Cas

Ya most of the folks are not happy with there provider.But there is my friend who is in trading with IG market provider.This provider provide best market value.Cheap also.Ig market has lot of investors ,brokers under it. This provider has branches in a vary large number of countries.

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