CFD DMA Prop Firm or Broker

You're welcome :) I thought you might be from Europe, because IG is very popular here. I'm from Germany :)

Standard commission for US stocks is one half US cent per share, so yes, 0.005 USD. This goes lower if you trader larger sizes. There's a minimum commission of 1 USD per trade for CFDs and no minimum commission for stocks. Overall the very best rates for retail traders.

You need to open a margin account and click that you want to trade CFDs. The margin for CFDs (intraday & overnight) typically is 1.25 x 10%, and a little higher for small caps. For the very most stocks I traded it is 1.25 x 10%.

TWS is a very strong and feature-rich platform, but also very confusing and complex in my point of view. Many traders use another platform when trading at IB, for me it's Sierra Chart... just have a look and decide if you like TWS or prefer another one.

No, I don't trade equities any more. I found the price action of equities pretty confusing, and inferior to other instruments, both intraday and overnight. Now I trade futures (mainly stock indices and volatility, sometimes commodities and forex).

Out of interest, what time frame would you like to trade? Intraday or overnight?

Kind regards
 
IG is popular in New Zealand, Australia and much of Asia. IG are a very profitable company ;)

I like SC, I've just read about people having troubled executing CFD orders in SC via IB's API. So I was going to play it safe and place my orders in TWS.

I used to trade futures many years ago, sometimes I still dabble, however I've found futures markets(ES/NQ/YM/) are the hardest markets to trade- so much random walk it's hard to find an edge there. There's not enough volatility at the moment either, so hardly any money to be made trading intraday moves, it's more suited for traders who hold positions over night from a longer time-frame perspective, thus skip out all the noise.

I'm more inclined to trade stocks that are in play, or stocks that regularly show good volatility with tight spreads. I trade stocks mainly intraday, I don't like to carry any overnight risk.
 
New Zealand must be a nice country to live in - I heard it is one of the most liveable places in the world. But I guess it must be pretty hard to trade US markets there, because of the time difference :(

Sorry, I forgot about that. Yes, at the moment SC doesn't work with equities CFD. SC doesn't show open positions, PnL and orders once you get a fill. It used to work great a couple of months ago, maybe they'll fix it again. Stocks, futures and even CFDs on indices,... all works fine with SC/IB.

Personally, I feel very comfortable trading NQ/YM, even in the low volatility environment of the last months. However I try to capture the swings on the daily chart and the lowest timeframe I look at is the hourly chart. So yes, most of the noise is filtered out...

Intraday there's indeed a lot of noise. Very hard to trade for me. I also noticed that the volume has significally decreased during the last years - both in futures and stocks. Just forex seems to get more...
 
SwingToWin said:
New Zealand must be a nice country to live in - I heard it is one of the most liveable places in the world. But I guess it must be pretty hard to trade US markets there, because of the time difference :(

Sorry, I forgot about that. Yes, at the moment SC doesn't work with equities CFD. SC doesn't show open positions, PnL and orders once you get a fill. It used to work great a couple of months ago, maybe they'll fix it again. Stocks, futures and even CFDs on indices,... all works fine with SC/IB.

Personally, I feel very comfortable trading NQ/YM, even in the low volatility environment of the last months. However I try to capture the swings on the daily chart and the lowest timeframe I look at is the hourly chart. So yes, most of the noise is filtered out...

Intraday there's indeed a lot of noise. Very hard to trade for me. I also noticed that the volume has significally decreased during the last years - both in futures and stocks. Just forex seems to get more...
More...

Yeah it's a nice country, especially if you're into the outdoors. Foreigners really seem to appreciate it when they come here, even the yanks! Yup the US hours kill me! I have to sleep during the day, so it's like working night shift :( I lived in South East Asia for most of last year, and the hours there were much better.

I've got another program i use that hooks into IB, so I might end up using that.

Fair enough, I think it's wise to stick with a larger timeframe when trading futures. Things will change again when volatility increases, but who knows when that will happen. I think there's still lots of low vol/ low volatility/ upside left.
 
I also trade CFDs occasionally with IB, although not on US markets. Overall i'm satisfied but it's not quite as smooth as trading the underlying.
Had some issues when changing orders which appeared transmitted but not accepted for a long while, one might have less order possibilities than with underlying and there seems to be less security in case you type an order wrongly (a while ago I wanted to sell a bunch of shares of a UK stock trading for a couple of pennies but transmitted the order on the wrong ticker - a ticker which was trading at over 100pcs a shares and for which I had over 100k shares buy orders. Well I ended up taking the price down a couple of percents, selling to myself, and with a short position, losing a couple of grants in the process. So one needs to be a bit more careful than with shares.
Also the poster D08 complained of not beeing able to place MOC orders on cfds a while ago, although i've been using those several times with european CFDs lately without an issue (moc don't seem available on the spanish market for instance, but neither are they available when trading the underlying _ on my platform at least).
Those issues aside i'm fine with the fills I get, they seem similar to those I would get trading the underlying.
 
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