Day traders and scalpers are always trying to get an edge in the market that could give them a real trading advantage, 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 are utilizing or the broker that they're trading with.
The most important element in any DMA CFD traders arsenal is their trading platform as this is their link 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 don’t have the proper infrastructure to facilitate sub-second order execution into global exchanges.
Being a CFD day trader or scalper it is essential to make sure that your DMA CFD provider has the best market connectivity possible. In lots of cases DMA CFD providers outsource their execution services to their prime broker, although this enables the DMA CFD provider to attain cost efficiencies it doesn’t always assist you to as a day trader. In-fact outsourcing CFD execution to a global investment bank may mean that your trades are sent through one of the central regional hubs being London, New York or Hong Kong before they reach the market and appear as a filled order on your trading platform. Some international investment banks do however own local infrastructure meaning that your orders are not sent all over the world before they reach the exchange. When deciding on a DMA CFD provider it is important that you ask them whether or not your trades will be routed locally or through their prime brokers international infrastructure as this can have a big effect on your order execution speed.
Apart from superior market connectivity the other core element is the trading platform that you choose to 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 providers are able to offer you the webIRESS platform however there are few providers that are able to offer webIRESS plus. WebIRESS plus is faster than regular 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.
Being a DMA CFD day trader it is imperative to pick a CFD broker that can give you split second order execution allowing you to achieve a CFD trading edge. Of course before you start trading you need to evaluate the pro's and con's of each CFD provider and download a couple of trading platforms to make sure that the CFD broker you choose does in fact offer you 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 must take a look at some of the CFD trading resources on this website.
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