22/04/2024

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CFD Trade Providers – Choosing the Best

2 min read
CFD Trade Providers – Choosing the Best

CFD trade is gaining popularity among investors as a good alternative to share trading. This reality is giving CFD providers the opportunity to grow as an industry. As a trader you would want the best deals from your CFD provider. Unfortunately, you cannot have everything in one package. However, with the stiff competition in the market, CFD providers are continually upgrading their services and platforms. These trading platforms and special factors can help you determine the best CFD provider you will be using.

You may be daunted in choosing the right CFD provider for you. Before you plunge ahead and choose, ask yourself the following important questions:

o How do you want to trade? Do you want to trade CFDs through a Market Maker or Direct Market Access?

o What do you wish to trade? Check out the CFD provider and the number of CFDs available to trade. Examine the current list of CFDs that are offered by the provider that you are intending to trade with.

o What is the trading platform and features of the CFD providers? The scope may include margin requirements, commissions or brokerage, the order types that will guarantee convenience with your time and lifestyle.

o Do you want to be able to guarantee your stop losses? If you do, then you need to find a provider that offers this feature, as not all do. One of the benefits of trading CFDs is that you can do things you cannot do with shares, such as guarantee your exit price.

Take CMC Markets as an example. CMC is Australia’s largest CFD provider. You can trade shares on the ASX or access global markets with over 3000 shares, index, sector, foreign exchange, commodity, treasury and bullion CFDs through their Market Maker platform. You can get exclusive benefits and special features on ASX share CFD trade if you partner with Smart Trading, a company that is operated by Justine Pollard, a private Australian stock market trader and best-selling author.

You can enjoy the following deals:

o Commission charges reduced to 0.08% (standard commission is 0.10%).

o A reduction of 0.25% on the overnight financing rate.

o Availability of Market Trigger Orders – these are Stop Entry Orders that allow you to open a new position or increase an existing position at a price which is inferior to the current market price.

o Free movement of Guaranteed Stop Loss Orders (GSLOs) – a huge bonus that guarantees all your stop loss orders at the price you set and you can change them as the trade moves your way at no cost.

One of the important things to succeed in CFD trade is a partnership between you and your CFD provider. Choose the best.

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