Thanks for the article strike 101 . Unfortunately the writer doesn't give enough detail about the scams they run on retail heads .
FXCM and other providers make folks place buy and sell stop orders 8-10 points below and above the market [ only on stop/limit orders] So guess why markets continue to break specific levels by the 8-10 points , ummmmm the cfd boys get wacked each time . But it also forces them to buy or sell at market which has a higher risk of loss than placing buy or sell/limit orders .
No need to mention the after market crap that cmc play on indices when the markets are closed . They not only trade off other indices which is normal but they run spikes all over the place to catch stops . I've seen this many times .
Of course it is in the ASX's interest to ban cfd providers in Australia and they felt so left out of it they started their own which are a an absolute piece of junk with huge spreads etc . Tis a nasty nasty game until u learn to milk them .
