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CFD Broker for DAX
Started:November 10th, 2016 (09:01 AM) by Zemlic Views / Replies:585 / 23
Last Reply:November 22nd, 2016 (03:59 AM) Attachments:0

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CFD Broker for DAX

Old November 11th, 2016, 09:54 AM   #11 (permalink)
Elite Member
Blacksburg, Virginia
 
Futures Experience: Beginner
Platform: TWS, Sierra Chart
Broker/Data: IB, SierraCharts data
Favorite Futures: mini FDAX, ES, GC
 
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Zemlic View Post
Hi Pvlee,

Thank you for an answer. I have narrowed it down to oanda a fxcm now. The idea of using ninja is big plus. Do you mind me asking, do you trade with fxcm?

Also, I'm still confused from difference between trading futures and CFDs in pricing and quiet frankly feeling like an idiot.

Dax on futures move in points, where one point is worth €25 per 1 Lot, and half a point is worth €12.5.
On CFDs on a 1 lot how much is one point worth? Is it €10 and 1/2 point €5 or point is worth €20 and 1/2 point is worth €10.

What ever it is, you could clarifi please, 0.1 lot dax CFDs will be worth 1/10 of a full lot.

Sorry for being an idiot with this, I just can't get it.
Thank you

Questions are good and this site has a lot of information if you search. Plus the broker sites have lots of info.

IB also works with Ninja Trader. You can set up ninja trader to work with a Broker + a data feed provider.

CFDs are synthetic products from the Broker so the Broker is the counter party. So the movement of the CFD is a bit artificial compared to the Futures, which is traded on an exchange and the counter party is not the broker but institutions, market makers etc. Therefore CFD's have inherent counter party risk: if the Broker is not well capitalized and conservative with margins, he may go bust in an adverse market (remember the big Swiss Franc move a few years ago?) and you can't exchange your CFD. A future doesn't have this counter party risk.

the Interactive Brokers' CFD DAX (DE30) is quoted in 1 point increments so 1 tick = 1 point = 1EURO. For example, the DE30 is quoting 10300 and moves to 10400 so a 100 point move is 100 euros less commission per CFD.

I hope this helps!

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Old November 11th, 2016, 09:59 AM   #12 (permalink)
Elite member
Hertfordshire England
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: DAX
 
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Zemlic View Post
Hi Pvlee,

Thank you for an answer. I have narrowed it down to oanda a fxcm now. The idea of using ninja is big plus. Do you mind me asking, do you trade with fxcm?

Also, I'm still confused from difference between trading futures and CFDs in pricing and quiet frankly feeling like an idiot.

Dax on futures move in points, where one point is worth €25 per 1 Lot, and half a point is worth €12.5.
On CFDs on a 1 lot how much is one point worth? Is it €10 and 1/2 point €5 or point is worth €20 and 1/2 point is worth €10.

What ever it is, you could clarifi please, 0.1 lot dax CFDs will be worth 1/10 of a full lot.

Sorry for being an idiot with this, I just can't get it.
Thank you

I have a few accounts with FXCM and have found them to be pretty good. Slippage doesn't seem to be any more than trading oil futures, although Maybe if I tried trading large volume I may see more execution problems. The spread on GER30 is usually around 1 point, although has been 3 points during high volatility periods eg. Brexit, Grexit

FXCM use a lot based system and 1 lot on Ger30 is approx 6.5p, so you can learn to trade and only risk peanuts.

If you are just starting out, I would recommend this over futures unless you are looking to risk/make a few grand a day then futures would be better

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Old November 11th, 2016, 10:06 AM   #13 (permalink)
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@JohnS makes a good point. Trading Ger30 CFD through FXCM is trading against them. They take the other side of the trade. So there is potential for unscrupulous interventions but I haven't seen anything to worry me since I started using them

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Old November 11th, 2016, 10:15 AM   #14 (permalink)
Elite Member
Blacksburg, Virginia
 
Futures Experience: Beginner
Platform: TWS, Sierra Chart
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pvlee View Post
@JohnS makes a good point. Trading Ger30 CFD through FXCM is trading against them. They take the other side of the trade. So there is potential for unscrupulous interventions but I haven't seen anything to worry me since I started using them

I didn't see anything with IB either. they had a fixed transparent spread between the DAX Index and the CFD price. The other thing with IB CFDs that I liked was that you can trade the big picture and hold for days if not weeks without worrying about future's Roll over dates. the Broker does charge a fee for holding over night but it is relatively small.

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Old November 11th, 2016, 10:33 AM   #15 (permalink)
Elite member
Hertfordshire England
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: DAX
 
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Posts: 89 since May 2011
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Futures Edge on FIO

Are you a NinjaTrader user?

 
The other advantage for a UK based trader is that FXCM UK are covered by the FCA, so up to 70k (I think) is refundable by UK government insurance should FXCM go bust.

in addition, profits are tax free, depending on individual circumstances.

It's a no brainer for a new trader

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Old November 11th, 2016, 10:55 AM   #16 (permalink)
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Birmingham, UK
 
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Thank you very much guys for all your help.
I think I am starting to understand, but will put in one more example.

This is from fxcm pricing list.
"

Target Spread
The GER30 has a target spread of 0.9 pips/points. Max Contract Size
The maximum number of contracts per click (trade) for the GER30 is 1,000.
Minimum Pip Cost (Value)
The GER30 has a minimum value of €0.10 per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value).
The pip/point location is shown below. Each 1.0 price movement on the GER30 is 1 pip/point. FXCM’s pricing displays additional decimal places - ideal for scalpers in a fast-moving market.
Number of FXCM Contracts to Equal 1 Future
250 FXCM GER30 Contracts are equivalent to one DAX Index Future only when the cost per point for the underlying futures contract is €25.
Other Information
The GER30 does have financing cost (Rollover). For dividends, however, the GER30 is a total return index so dividends are reinvested into the index. With FXCM’s new Enhanced Execution, there is no minimum stop distance."

Now:
If 250 lots of fxcm CFDs is equivalent to 1 lot of FDax, that means if I wana trade 0.1 lot Fdax equivalent to fxcm CFDs , I need to buy/sell 25 fxcm CFDs . right??

That means, 1 point on fxcm CFDs is worth €0.1 or £0.065. There fore if I hold 25 fxcm CFDs 1 point = €0.1 x 25 = €2.5 or £0.065 x 25= £1.625.

Am I right here guys?

Thank you.

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Old November 11th, 2016, 11:22 AM   #17 (permalink)
Elite member
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Futures Experience: Intermediate
Platform: NT
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Posts: 89 since May 2011
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Yes, 1 FXCM lot for GER30 CFD is approx 6.5p

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Old November 12th, 2016, 11:22 AM   #18 (permalink)
Trading Apprentice
London
 
Futures Experience: Advanced
Platform: NinjaTrader
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Does anyone know where I can get realtime etf datafeed for ninjatrader or do you know if interactive brokers can provide this service


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Old November 12th, 2016, 11:44 AM   #19 (permalink)
Elite Member
Blacksburg, Virginia
 
Futures Experience: Beginner
Platform: TWS, Sierra Chart
Broker/Data: IB, SierraCharts data
Favorite Futures: mini FDAX, ES, GC
 
Posts: 743 since Oct 2014
Thanks: 8,987 given, 1,509 received


aotegaoteg View Post
Does anyone know where I can get realtime etf datafeed for ninjatrader or do you know if interactive brokers can provide this service


Sent from my iPhone using futures.io

read the many threads on FIO regarding IB and their data and decide it its good enough for your needs. They are a broker and do not specialize in data...

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Old November 12th, 2016, 09:39 PM   #20 (permalink)
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We use Barclay and FX Choice for CFDs. Love them!

Jimmy

-Jimmy
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