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     ingot54
Member
Username: ingot54
Post Number: 755
Registered: 05-2004Rating: N/A
Votes: 0
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| | Wednesday, September 07, 2005 - 09:57 pm: | 
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PS I just read Mosaic's idea of opening multiple windows in order to simulate multiple accounts.
I use Mozilla Firefox browser now. Occasionally I have had the message "Mozilla has encountered a problem and needs to close. Send a message?"
It then shuts the browser down. It usually happens when I attempt to log out of the Trading Platform. So I wonder how having multiple windows open might affect this.
I believe it may be associated with CPU power usage, but I am not a techie!
Have just added another 256Mb RAM to my original 256Mb, and the problem has not recurred. Still, I can't help but wince every time I log out, in expectation!
Will try the multiple window theory to see if problems occur.
Keep Smiling
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tricky
Member
Username: tricky
Post Number: 9
Registered: 10-2003Rating: N/A
Votes: 0
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| | Wednesday, September 07, 2005 - 11:12 pm: |
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I believe Marketech use the Saxo Bank platform which offers either Direct market access or spreads, if the 0.1% is on the spreads i would be wary. however if it is 0.1% on direct market prices with corresponding depth then it would be good.
Tricom also use the Saxo bank platform, both the demo versions are the same.
Increased competition is certainly starting to bite, CMC used to be the price leader (on the surface) but should now be worried as Direct pricing offered at below 0.2% is extremely attractive, especially when exiting CFD trades. I am glad I am not having to deal with spread pricing anymore. I am happy with macquarie at 0.17% and a GSL
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davkell
Member
Username: davkell
Post Number: 215
Registered: 07-2004Rating: N/A
Votes: 0
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| | Thursday, September 08, 2005 - 09:21 pm: |
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Tricky;
Confirmed today, the 0.1% is added to the ASX quote spread, so if the ask is 10.00 on SEATS, you will pay 10.01 for the CFD. That is pretty reasonable I believe.
Extra note: You can transfer cash into your account with Marketech easily and with no fees charged, unlike CMC which charges 2.5% (I think that's right) on all fees deposited to your own trading account!
I think I'm moving to Marketech at the end of the month. Will close my current trades then. Unless anyone has any warnings or bad experience that I should be aware of?
Cheers.
"Trade Your Way To Financial Freedom" - Van K Tharp
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snorter
Member
Username: snorter
Post Number: 60
Registered: 01-2004Rating: N/A
Votes: 0
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| | Thursday, September 08, 2005 - 11:22 pm: |
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Marketech -
GSL, how far from current price?
GSL, what cost?
Thanks
snorter
"Failure is not an option"
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tricky
Member
Username: tricky
Post Number: 10
Registered: 10-2003Rating: N/A
Votes: 0
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| | Friday, September 09, 2005 - 11:19 am: |
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CMC charge 2.5% on transfer! 
I didn't realise that, I cannot recall that being a factor when i had my account with them, although that was a while ago. I had run comparison spreadsheets on the spreads i was getting and what i would be getting on DMA and have not touched spreads since then.
With marketech, I would be interested to hear details on the spreads i.e. is it definitely 0.1% or will it 'round up'. and the GSL.
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davkell
Member
Username: davkell
Post Number: 217
Registered: 07-2004Rating: N/A
Votes: 0
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| | Friday, September 09, 2005 - 09:15 pm: |
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Snorter: I don't think they offer GSL's yet. It's in the pipeline I think.
Tricky: Don't know about the rounding effect, I assumed it's just 0.1% on the spread and multiplied to get your cost, then rounded. I'll have to check.
"Trade Your Way To Financial Freedom" - Van K Tharp
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andrewk
Member
Username: andrewk
Post Number: 225
Registered: 09-2003Rating: N/A
Votes: 0
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| | Saturday, September 10, 2005 - 09:19 pm: |
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I am interested in hearing from anyone who has dealt with Macquarie.
What are the average GSLO costs? (For various percentages, say 2%, 5%, 10% across both ASX20 and ASX100 stocks.)
Tricky - how did you negotiate for 0.17%?
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tricky
Member
Username: tricky
Post Number: 11
Registered: 10-2003Rating: N/A
Votes: 0
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| | Sunday, September 11, 2005 - 09:16 am: |
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andrewk,
GSL costs with macquarie vary according to the stock and teh level i set at, but for a top 40 stock at 5% out from the share price i would average 0.2%, gets more expensive as you go closer to the price. I never use more than 5% as i leverage at 20 to 1. (using a GSL effectively raises the leverage on stocks that aren't quoted as 20 to 1)
What i found was that the cost of the brokerage and a GSL with macquarie was actually less than the cost of the spread with CMC (i always seem to get re-quoted with CMC). I get 0.17% with Macquarie as i subscribe to www.CFDselect.com.au and they have a discount organised, the cost of their subscription works out to about the savings i make in 3 trades a month and i managed to negotiate an annual fee with them that helped a bit more.
hope that helps.
tricky
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fibonacci
Member
Username: fibonacci
Post Number: 49
Registered: 10-2003Rating: N/A
Votes: 0
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| | Thursday, September 15, 2005 - 08:51 am: |
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Quote from Davkell:
"You can transfer cash into your account with Marketech easily and with no fees charged, unlike CMC which charges 2.5% (I think that's right) on all fees deposited to your own trading account! " [copy/paste]
I've seen many occasions where members of this forum make statements/answer questions and obviously don't really know the answer, often even stating so at the same time. Why bother answering? I just hope that these are not campaigns against market players where the facts would be detrimental to that campaign.
In this instance, as I use CMC, not without some angst I might add, I checked about banking [not that any of us ever have to top up our accounts].
BPAY - $1.50 per transaction [ouch]
Credit Card - 1.8% [even my golf club charges that]
With the growth in numbers of CFD providers I certainly will keep my eye on their various features and charges to monitor which one suits me best, but only facts are helpful.
John
You've got to
know when to hold 'em
know when to fold 'em.
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davkell
Member
Username: davkell
Post Number: 227
Registered: 07-2004Rating: N/A
Votes: 0
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| | Thursday, September 15, 2005 - 09:40 am: |
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I knew the answer John, just not the exact figure. 1.8% isn't far off from 2.5% now is it? And not every institution charges for the credit card transaction just because your golf club does! But it's the BPAY charge that is concerning as that is usually predominantly fee free. $1.50 is still a high fee in my opinion and is 2.5% of a $60 transfer, an amount than many might want to transfer fortnightly from their pay perhaps.
So, apologies if I didn't get it exactly right, but that is better than not answering at all. And it's not a campaign against any market player, I'm still with CMC myself, it's just a frank and open discussion on the benefits and drawbacks of various players.
Thank you for your 'exact' answer though, I'm sure that will assist others greatly.
"Trade Your Way To Financial Freedom" - Van K Tharp
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shawky
Member
Username: shawky
Post Number: 537
Registered: 11-2003Rating: N/A
Votes: 0
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| | Thursday, September 15, 2005 - 09:47 am: |
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Fibo
I've seen many occasions where members of this forum make statements/answer questions and obviously don't really know the answer"
Spot on.
CMC
EFT Deposit - NO FEE
BPay Deposit - 1.50
EFT Withdrawal - 25c (up until 1 Jul)
EFT or BPay Withdrawal 1.50 (post 1 Jul)
So use EFT for deposits to avoid the 1.50 fee
regards
Shawky
(Message edited by shawky on September 15, 2005)
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ingot54
Member
Username: ingot54
Post Number: 804
Registered: 05-2004Rating: N/A
Votes: 0
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| | Thursday, September 15, 2005 - 09:51 am: |
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IG Markets charge for Credit Card transfers, but BPay is free.
Each provider needs to be assessed on merits, and what I will accept might not suit others.
Having said that, due to competition coming in now, Macquarie, MarkeTech, I can see downwards pressure on commissions etc.
I am going to try to negotiate a better pkg from my provider.
So far I have not been convinced that CMC is worth using - everyone I know who uses them (still) states something negative, and then says "but ..."
I have NEVER had an issue with IGMarkets, but ...
Keep Smiling
Trading style :Short Term and CFD's predominantly
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davkell
Member
Username: davkell
Post Number: 228
Registered: 07-2004Rating: N/A
Votes: 0
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| | Thursday, September 15, 2005 - 10:12 am: |
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Shawky;
By EFT, how is that done? I was advised that Credit Card and BPAY were the only deposit methods.
PS: We all make mistakes some time, that is life. Trading is a good example.
"Trade Your Way To Financial Freedom" - Van K Tharp
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ingot54
Member
Username: ingot54
Post Number: 805
Registered: 05-2004Rating: N/A
Votes: 0
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| | Thursday, September 15, 2005 - 10:19 am: |
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Hello Shawky - long time between posts! How the heck are you? Welcome back. (Obviously you did get all the spuds peeled!)
Not trying to push the IG barrow for them- it's just that I use them, and rely on fellow members to inform me of the features of other providers.
Have just visited the IG site, and "News" is that :
You may now place "Stop Orders" or "Limit Orders" to open a new position if a specific level is reached
The limit orders have been available for yonks, but the "ORDER TO OPEN" is new.
EFT in/out of a/c is free with IGM
Keep Smiling
Trading style :Short Term and CFD's predominantly
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