Day traders and scalpers are continuously looking 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 vital 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 sadly in reality there are some CFD brokers that do not have the proper infrastructure to facilitate sub-second order execution into global exchanges.
Being a CFD day trader or scalper it is critical to make sure that your DMA CFD broker has the fastest market connectivity possible. In lots of cases DMA CFD brokers outsource their execution services to their prime broker, although this enables the DMA CFD provider to achieve 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 global investment banks do however own local infrastructure meaning your orders aren't sent around the world before they arrive at the exchange. When picking a DMA CFD broker it’s imperative that you ask them whether or not your trades will be routed locally or through their prime brokers global 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 many platforms available to retail DMA CFD day traders and scalpers, however by far the most well-liked is the webIRESS platform. Many CFD providers are able to give you the webIRESS platform however there are very few providers 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.
It is critical for all CFD traders to choose a CFD broker that can provide split second order execution allowing you to achieve a CFD trading edge. Of course before you start trading you ought to consider the pro's and con's of every CFD broker and download a number of platforms to ensure that the CFD broker you select does in fact give you an edge in the market.
If you want to find out how to get a real DMA CFD trading advantage make sure you check out a few of the CFD trading resources on this website.