Sonray offers two versions of CFD trading.

One way of trading CFDs is via DMA (Direct Market Access) and the other is  the market made model of CFD trading. Both models allow you to trade LONG up to the top 300 ASX stocks by market cap and SHORT approx 250. This list can change subject to the liquidity providers and you will find any changes in the trading conditions section of the account page. We also provide LIVE ASX streaming data with market depth which costs $37.50 per month plus gst. This charge is by the ASX and is paid via Sonray to the ASX- it is not another commission charge.

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The DMA CFD model

The DMA CFD model can only be traded during the open hours of the ASX and does not allow stop loss orders. You cannot place any limit/market orders outside of market hours 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 is 24.20/24.22 then that is the price you will get for CFD trading as well. You participate in the after market close so long as your orders were place before 4pm. Trading conditions can be found in the account page of your SonrayTrader and selecting CFD trading.

The Market Made CFD model

The market made CFD model can only be traded during the open hours of the ASX., and allows the use of stop loss orders. You cannot place any limit/market orders outside of market hours.

The spread between the bid price and the offer price will be a combination of the natural market spread in the underlying stock market plus the commission based mark up of 0.05% i.e. if BHP is 24.20/24.22 then the price you will receive for CFD trading will be 24.19/24.23.

It is important that you note that when we mark up your price, we add a digit compared to the underlying stock and round off using the usual mathematical rules for rounding. These are, below 5 you round down, 5 or above you round up. The result is that in some cases you may pay a little more in commission and in some you may pay a little less. You participate in the after market close so long as your orders were place before 4pm.

Sonray offers a 24 hour desk from Monday morning through to Saturday morning, and has a dedicated Account Management team who are here to assist you.

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