have been with cmc markets and am now also with commsec CFD'S.
with the market makers - from what I have gleaned so far we have the bookies and the punters, the bookies have to win on average in order to remain in business, so their computers are programmed to achieve this - not unlike a poker machine.... the providers make their profits from the buy / sell spreads, transaction fees, interest charged, and also from interest on your funds held in their account.
STOP/LOSSES - it seems that with less liquid stocks stop/losses don't necessarily happen at the nominated level when that level is hit..... the provider will say that if there are no counter buys/sells at the nominated price the trade will be taken out at the next price down or up where all the units can be taken out....... there does not seem to be any way of checking back on the provider when you find that your actual close out price (determined by the provider) has gone well past your original nominated stop/ loss level.
I note that cmc markets give a sort of market depth on their order ticket, but I have not found any market depth yet on the commsec platform.
I suppose the answer to this is understand that this is what happens in lesser liquid stocks, and if you do not want expose yourself to a very uncertain close out price trade only very liquid stocks, say those in the asx 100 or asx 200..
have I got this right ??... what are the experiences of others ??
