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Message |
     shawky
Member
Username: shawky
Post Number: 306
Registered: 11-2003Rating: N/A
Votes: 0
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| | Monday, June 28, 2004 - 07:14 pm: |  
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Hi all
CMC clients received an update to the expanded list of Aus CFDs available through CMC. 52 stocks are now available at 5% margin.
Out of market hours orders are available until 10pm
Limit orders can be placed between the spread for Aus CFDs and indexes.
If anyone knows how the limit order between the spread will work, please post. Does this also mean that a limit order can be placed at the bid(Buy)/offer(Sell) price?
regards
Shawky
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maligas
Member
Username: maligas
Post Number: 37
Registered: 05-2004Rating: N/A
Votes: 0
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| | Monday, June 28, 2004 - 07:45 pm: |
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Shawky - thanks very much for the update... 'tis very much appreciated, seeing as CMC doesn't tend to be too vocal on such matters.
Thanks again,
Maligas 
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mosaic1996
Member
Username: mosaic1996
Post Number: 778
Registered: 01-2003Rating: N/A
Votes: 0
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| | Monday, June 28, 2004 - 07:54 pm: |
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Hi MaliGas,
If you are a CMC client you should have received an e-mail with (a link to) new list and new client docs.
Cheers,
Mosaic
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maligas
Member
Username: maligas
Post Number: 38
Registered: 05-2004Rating: N/A
Votes: 0
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| | Monday, June 28, 2004 - 08:39 pm: |
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Hi mosaic, if I received an email it would have been to my work email address ... I hadn't received anything by 5:15pm this evening.
Cheers,
Maligas
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shawky
Member
Username: shawky
Post Number: 308
Registered: 11-2003Rating: N/A
Votes: 0
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| | Tuesday, June 29, 2004 - 07:55 am: |
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shubh_lubh asked on another topic:
How do you find dealing with CMC? I am unable to activate my account or do any trading with them for the simple reason that I cannot get them to provide answers to my queries. I have called on three different occasions, spoken to three different people and yet each time I have found them to be rude and told to look over for answers at their website. "Everything is there at website.... if you cannot find answers to your questions at our website, how do you expect to trade with us using our website.... "
I am definitely sure they are a good helpful bunch of people. It must be me and nature of my inquiries but I do find it strange or they just might be loaded with too many clients to bother with new ones.
Shubh_labh
Compared to the banks they are a warm, friendly and professional group! But then, my recent experience with the banks makes a dodgy PC shop at the markets look more professional.
I have found them quite helpful, but then I have a tendency to research things first and structure my questions as definitively as possible.
Opening an account is not as easy, the magic key to get the account up and running is MONEY. No money, no account. I had difficulty in getting a new account linked to my existing account and could no even find out if it was possible (the program options suggested it was standard). Once I put money in the new account, the linking got done.
Try the links below. I found them using a search for "CFD":
http://forum.incrediblecharts.com/messages/12/97833.html
http://forum.incrediblecharts.com/messages/12/153178.html
CMC were refered to as D4F - Deal 4 Free before they wacked on the $10 fee.
For no Aus CFDs there are heaps of other providers - IG Markets is one.
I suggest you register for CMC's evening Seminar where all your questions will get answered and you will get a live demonstration. There is no substitute for reading their legal documentation where everything is explained quite clearly IMO.
If you have no luck then you might try posting a specific question on this thread, but please do some research first.
To me, there is nothing magic about CFDs, I trade them as if they were shares. My money management tools help me manage the gearing aspect so I don't get into trouble.
regards
Shawky
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new2waix
Member
Username: new2waix
Post Number: 937
Registered: 10-2003Rating: N/A
Votes: 0
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| | Tuesday, June 29, 2004 - 09:11 am: |
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Don't forget about the $38.50 per month charge that CMC tell you about after you've signed up.
Maybe I neglected to read the documentation close enough, but I only found out about this charge after the whole sign up process was completed.
The charge is required to pull ASX data to run the Market Maker software (that allows you to trade CFDs).
I know many pay for ASX data for their charting software, so paying $38 seems a little unnecessary. However, not a major deal if you make consistent profits! No one can really complain about $10 trades.
That's my whinge over for today
..
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shawky
Member
Username: shawky
Post Number: 310
Registered: 11-2003Rating: N/A
Votes: 0
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| | Tuesday, June 29, 2004 - 11:43 am: |
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New2
I don't pay the monthly fee but then I usually do at least one trade every other day. Off the top of my head I think the monthly fee is waived if you do 4 trades in a month, or something like that.
I need to read up about this new facility that allows you to place limit orders between the spread. Gotta work out what the benefits are and "gotcha"s are too.
regards
Shawky
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maligas
Member
Username: maligas
Post Number: 41
Registered: 05-2004Rating: N/A
Votes: 0
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| | Thursday, July 01, 2004 - 09:59 am: |
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Hi there Shawky & new2waix
If you don't create $50 of commission revenue per month for CMC they will charge you the $38.50/month 'ASX royalty'. I only found out about it as it's mentioned in the latest Charting magazine (Colin Nicholson's baby)
Cheers,
Maligas
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esquire
Member
Username: esquire
Post Number: 61
Registered: 11-2002Rating: N/A
Votes: 0
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| | Friday, July 02, 2004 - 03:48 am: |
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I drove up to their big seminar at NSW Uni to listen to three boring speakers who imparted nothing and another who wrote some software which they are marketing but only bought enough explanatory cd's for a quarter of the audience. Their great author talked about pilates and not much else, Ho Hum. Their promotion was collossal, their seminar was the pits and their follow-up was non-existant. It seems that now D4F means "deal for fee".
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CMC CFD Listing V4 Spreadsheet
