What are the downsides of CFDS?

Discussion in 'Trading' started by cashclay, Mar 10, 2016.

  1. AbbotAle

    AbbotAle

    Interactive Brokers (in Europe) is the sort of firm you should be looking to deal CFDs, they offer DMA (ie same prices as the cash market). I'd advise you look at them before some smaller broker and if you ever get called by a firm regulated out of Cyprus, RUN.
     
    #11     Mar 10, 2016
    zdreg likes this.
  2. zdreg

    zdreg

    even russians with money in cyprian banks got screwed by bail-ins.
     
    #12     Mar 10, 2016
  3. cashclay

    cashclay

    Im osrry what do you mean by DMA? Do you mean there is no spread?
     
    #13     Mar 10, 2016
  4. AbbotAle

    AbbotAle

    DMA = Direct Market Access.

    That means the pricing o the CFDs is exactly the same as the pricing on the shares on the cash market.

    For example, if you wanted to buy 1,000 HSBA in the cash market the price might be 400-401.

    If you wanted to buy those same shares using a CFD the price would also be 400-401.

    A broker who doesn't offer DMA CFDs would price the shares for you and they might even offer the deal 'commission free'. Nothing is ever free in the markets.

    Interactive Brokers and similar brokers will offer DMA CFDs, those are the ones to go with because it keeps the game clean.
     
    #14     Mar 11, 2016
  5. cashclay

    cashclay

    Forgive me i seem to be a little confused. if the brokers are offering DMA CFDS and then how do they make money? I thought the spread was their mode of profit.
     
    #15     Mar 11, 2016
  6. You Pay IB commision and every oositions IB hedge
     
    #16     Mar 11, 2016
  7. AbbotAle

    AbbotAle

    Commissions and financing charges generally. The spread profit (or loss) is for the market makers or whoever is making the price but with a DMA broker that won't be them (unless they are also market makers but that price is available to the whole market, not just you).
     
    #17     Mar 11, 2016