I've got a demo account that I've been using to check out the platform and any hidden costs. But I'm not sure if the full costs are reflected in the demo account. :/ I'm using it to trade PMs, and so far I've only incurred holding costs (due to holding positions open overnight). Obviously I'd expect to pay a margin interest if I was using leverage. If I get a live account, I'll keep my tradition of not using leverage and thus expect to pay nothing more than holding costs. Has anyone tried that already? Got hit by any unexpected costs?
I've used CMC in the past but i did have allot of data error's(Sometimes the price of gold for example would spike up or down and a few moment later come back it was put down to data error's but it happened a few times). I'm using IG Markets at the moment if your interested in CFD's i would highly recommend them over CMC as IG have a much better platform and i've never come across any data error's. You can also take a look at IG Markets through a demo account as well.
I'll take a look. The data error bug in CMC markets sounds like it could potentially be chaotic, especially if it triggers a stop loss when it didn't need to. @_@
I tried a demo account from a different institution, but once noticed holding costs on open positions overnight eating my profit I decided not to waist further time with it.
The holding costs I'm getting from CMC Markets are 18 cents a day for 300 units of silver. 2 week demo result: Demo profits: $600 Demo costs: $0.70 (had to hold overnight some days) I trade in short intervals and basically take any profit, no matter how small as long as it covers the expenses. I don't use leverage cos I'm anti-debt. I was testing my strategy while I was looking at the platform. I'll be doing the same with IG Markets as soon as the trading day starts. @_@
I opened a demo account bought some silver, and looked it again few months later. Price was up least a dollar but I was in the red. Not sure why but lost interest after that.
Did you use margin? If you didn't, that would be a big concern O_O (cos even at 20 cents daily holding cost, 31 days = $6.20)