Direct Market Access (DMA) CFDs

The DMA CFD model allows you to trade on the live ASX prices. This model suits the day trader, who sits in front of their screen during the market hours and trades in and out of their positions.

There is no spread in the price of the CFD ie if BHP Billiton is 24.20/24.22 then that is the price you will get for CFD trading as well.

You trade the ASX price of the respective stock. When buying or selling, you can see your price and volume in the market queue and then in the course of sales. You will be able to participate in the after market close so long as your orders are placed before 4pm.

You do not participate in the pre open. Some of the inherent restrictions of DMA CFDs is that you can only trade the ASX during their open hours. It also means you are not allowed stop loss orders.

You cannot place any limit/market orders outside of market hours. Trading conditions can be found in the account page of your SMC Trader and selecting CFD trading.

Trading CFDs on live market prices requires an exchange subscription agreement for each of the exchanges you want to trade.

A small monthly deduction can be made from your account to cover the exchange fees.

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