re: cmc increases interest charges by 50%
Hmmm ... the 'deal for free' joke from this mob is now tired and not worth repeating unless of course you live in the UK ... word on the street was they nearly karked it in 2001 ... hence the new cost regime.
Forget Warrants/ETO's ... all the majors are now scrambling to position themselves in the CFD market which has the ASX and Brokers gagging ...
If yer thinking of trading Index/Sector CFD's think again ... from yesterday the interest charge has been hiked from 2% to 3% (plus overnight rate) for Long pozzies and by the way we forget to tell anyone.
The last couple of years have been good for the ASX but it is worth remembering that the long term average is about 8% p.a. so a Long Index pozzie (Aussie200) will now cost you 8.5% p.a. and any virtual bet here is guaranteed great biz for the house.
