CFD providers in Australia
Find out what it means to you as a CFD trader, with the various CFD providers and CFD brokers becoming available in Australia.
They all have different features. But how do they affect how you trade your system, as well as the profitability and performance of your system?
It was only 3 years ago in 2003, that CMC, a provider based in the UK, but with operations worldwide, provided CFDs with no commission in Australia (just like they do everywhere else in the world).
They were (and still are) a popular CFD provider, as they had low margins, and at the time, were commission free.
People’s profitable CFD systems were even more profitable.
Some called it the hey days.
Then in 2003, they had a change where commission was introduced, and at the same time the tradable stocks went from the top 200 ASX to the top 100 ASX.
This saw many people’s profitability halved, just like that.
Also, more competitors entered the field.
Now, in June 2006, there are 7-8 CFD providers in Australia, such as IG Markets, E-trade, Man Financial, Sonray Capital Markets, etc each with different margins, commissions, and spread widenings (if any).
So there’s more choice.
This is like in any field, where a trading product is popular, and where it’s a growth industry.
To read more, see this page on CFD trading platforms
. 07 Jun 06 | CFD brokers and providers, CFD trading
I am actually looking for a CFD blog which gives a comparison of various leading CFDs brokers across the following parameters:
(a) RANGE/DEPTH OF MARKETS COVERED (Australian, International)
(b) Trading Costs
(c) Reliability in terms of credit risk of the firm
Till date, I haven’t found a site which gives this information in a nice TABLE format. It could be pretty useful if you could write a blog covering that - it might require some bit of research though!
Hi P,
Thanks for your comments!
There’s actually a site that has a comparison of CFD brokers in a table format. It’s at:
http://www.onlinecfdbrokers.com
It’s got Australian CFDs and UK also.
Hope that’s convenient.