Hi GK, Commsec have FORCED ME to move from the market maker where they guaranteed trades although the spreads could be large. They are closing down the market maker (too risky for them) maybe they know more than us and realise trouble is coming SOON and HARD. I have just finished doing the form to join their new CFD.s opened in Dec 2013. Anyone who want to join them pays 50% brokerage for 3 months (BUT ASK THEM WHEN YOU JOIN THEY WONT OFFER). ie $5 brokerage for $10 000 trade. I feel they are safer than the others since they are a huge bank in good position and they assume "some counterparty risk". Have about 700 stocks If you want guaranteed buy /sell much like market maker you are limited to 60 stocks approx AND you have to pay UP TO 5% of the value of the transaction ie 200 to 300 points if shorting the market. This provides a safety net BUT is expensive on short term trades so its almost like a PUT except no time limit. Its a far safer way of shorting the ASX Nikki etc but you cant trade often or you will go broke. I have NEVER been off line or had a single problem in my 1 year with COMMSEC they answer the phone promptly and I certainly cant fault them. ps I have NO Commsec shares and don't work for them! By way GK, my HVN lost me lots and I am well down for the year with CFDs so take my advice with pinch of salt the last year has been bad with CFD's for me. Cheers F
