Day trading with CFD

[blueclaret]

Hi, I have started day trading US stocks by spreadbetting. The spreads are very wide and want to know the alternatives apart from Direct Access. I understand CFDs might be the best option but can anyone tell me if the spreads are better and which broker is best for US shares.

Thanks.

 

[blueclaret]

Still no answers

 

[kkarank]

I have tried IG Markets and eTrade in the past - they are both direct access and hence no spreads - WYSIWYG - on the other hand i know that CMC Markets does CFDs too but is not direct access (and hence the no commission banter from them)

i think for CFDs IG Markets is top class.

 

[blueclaret]

I actually completed an application form a week ago for CMC CFD but they didnt give me my account details. Just an email to make payments onto an account which hasnt been setup. I spreadbet with IG at the moment and have a CFD demo account but its only selected shares so i cant practice trading US shares. As ive only just started day trading and im still learning (not in profit!) im not sure if i should stick to the spreadbetting or try CFDs now. What do u think?

 

[kkarank]

For me (and as i have read on this forum-for many others) spreadbetting connotates of gambling and is something i avoid - i stick to CFDs but then thats an entirely personal opinion - but then i also dont like to play zero sum games - and spreadbetting is exactly that

if you want to papertrade - trust me - stick to Excel ! when i was doing that i used some really simple and inexpensive tools (like a monthly subscription to ADVFN(£11.75/month), Level 2 data feed from Nasdaq Store($15/month), free market scans from stockcharts.com and good old Excel..I did that with diligence for about a month before doing a live trade