Day traders and scalpers are continually looking to gain an edge in the market that will offer them a real trading benefit, however most traders often go searching for faster PC's, internet connections or a better charting package, most overlook the elementary basics such as trading platform that they're using or the broker that they're trading with.
The most critical element in any DMA CFD traders arsenal is their trading platform as this is their connection to the market. Many DMA CFD day traders and scalpers assume that their CFD provider has the fastest market connectivity and trading engine behind their platform, however unfortunately in reality there are some CFD providers that do not have the correct infrastructure to enable sub-second order execution into worldwide exchanges.
As a CFD day trader or scalper it is essential to ensure that your DMA CFD broker has the fastest market connectivity possible. In many cases DMA CFD brokers outsource their execution services to their prime broker, although this allows the DMA CFD provider to achieve cost efficiencies it does not always assist you to as a day trader. In-fact outsourcing CFD execution to a global investment bank may mean that your trades are routed through one of the main regional hubs being London, New York or Hong Kong before they reach the market and appear as a filled order in your trading platform. Some international investment banks do however own local infrastructure meaning your orders aren't sent around the world before they arrive at the exchange. When deciding on a DMA CFD provider it is essential that you ask them whether or not your orders will be routed locally or through their prime brokers international infrastructure as this can have a major effect on your order execution speed.
Apart from good market connectivity another core element is the platform which you use. There are various platforms available to retail DMA CFD day traders and scalpers, however by far the preferred is the webIRESS platform. Many CFD brokers are able to offer you the webIRESS trading platform however there are very few brokers that are able to offer webIRESS plus. WebIRESS plus is faster than normal webIRESS and offers split second order execution, webIRESS plus is currently only being offered by Australia's most well regarded DMA CFD provider, IC Markets.
As a DMA CFD day trader it is imperative to select a CFD broker that can offer you split second order execution allowing you to achieve a CFD trading edge. Naturally before you start trading it is best to evaluate the pro's and con's of each CFD provider and download several platforms to make sure that the CFD provider you choose does in fact provide you with an edge in the market.
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If you would like to find out how to get a real DMA CFD trading advantage you ought to check out some of the CFD trading resources on this website.
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