Thought I would start this thread so that anyone who day trades, in fact anyone can add input into their trading plaforms used and the reasons behind it..
I notice many of you yesterday were complaining about Comsec and Etrade been slow or not operational at all.
I myself use Macquarie Prime. I have only recently completely switched over from Comsec Standard (I did use pro trader before Iress or what ever it was replaced it). Comsec did my head in.. just like it sounds like its doing to many of you... its cost me alot of money!
Macquarie Prime I have found to be a very stable and reliable platform. It offers both equity and CFD trading in the one platform and doesnt have the bl00dy trading limits in place like Comsec does if you dont have a portfolio in place which has settled. This didnt work for me, as I dont have a portfolio these days, as I am usually at most an overnight hold.
Here are the trading fee costs. In addition they offer a rebate to traders with a high monthly turnover. The way I interpret it is this.
All trades are $20 per buy or sell. The rebate from what I understand offers to cash back if you trade a certain turnover. i.e. if your monthly turnover is $500,000 - $1,999,999, then your trading fee rate is then 0.10%. So when making a $30,000 trade, it would normally cost you $36. If your turnover was in the range above, then you would receive a rebate at the end of the month for this trade of $6. (i.e. the trade would only cost you $30).
NB Please let me know if anyone else interprets this otherwise as I am only fairly new to the platform as far as single trading platform goes.
