Ibex 35 DMA?

[SanMiguel]

Does anyone know a futures broker for the SPain 35?
Spread on SB brokers is 5, which is ridiculous.

 

[Jaydee]

A 5 pt spread isn't too bad - the Oct future is currently 10671 @ 10675

 

[SanMiguel]

A 5 pt spread isn't too bad - the Oct future is currently 10671 @ 10675

I figured the whole point of DMA was to eradicate the spread part thereby earning you extra money and more successful trades (eg using limit orders)?
But with spreads on DMA, everything must be limit orders to avoid spreads.

 

[Jaydee]

I figured the whole point of DMA was to eradicate the spread part thereby earning you extra money and more successful trades (eg using limit orders)?
But with spreads on DMA, everything must be limit orders to avoid spreads.

Yeah, that's correct. I was just making a point about the SB firm you mentioned quoting a 5 pt spread. This isn't too bad when the underlying can often quote a 4-5 pt spread.

 

[SanMiguel]

Yeah, that's correct. I was just making a point about the SB firm you mentioned quoting a 5 pt spread. This isn't too bad when the underlying can often quote a 4-5 pt spread.

Any firms other than IB decent for DMA?

 

[SanMiguel]

Hi,

a good and cheap one is interdin.com, another good one is renta4.com

regards

Spanish brokers though and I don;t know the financial regulation in Spain and CS might be an issue with limited Spanish / English.
IB has too high a minimum for the moment.
Global don't allow IBEX and also charge £40 to withdraw money.
Berkeley futures looks like some 1990s broker givent their website is shocking.Running out of ideas for a decent DMA broker TBH.
Most others are US based and I'd really prefer a Euro or GBP based broker not least because of the $25k minimum in the US.

 

[Jaydee]

Any firms other than IB decent for DMA?

I trade this at work via our PB. I don't trade this on my personal account, so I'm afraid I'm not sure.