The recently released Investment Trends 2009 CFD Report shows that despite ongoing market uncertainty, 95% of CFD traders surveyed said they planned to increase (65%) or maintain (30%) their level of trading in the next 12 months. The survey also found that another 30,000 investors intend to start trading CFDs within that period.
At the same time, the average number of accounts per trader continues to rise. CFD traders had 1.9 accounts each on average in May 2009, up from 1.7 in 2008 and 1.4 in 2007.
The report rated MF Global, one of the world’s leading futures and options broker, as Australia’s best Contracts for Difference (CFD) provider for quality of customer service and overall satisfaction for the second year running, according to new analysis of the CFD market.
The report, based on an online survey of more than 7,500 investors between April and June 2009 found MF Global Australia was also a market leader in terms of client satisfaction with email customer service, handling of payment issues and margin calls, lending rate and prices quoted.
It also stated that MF Global Australia, the largest wholesale provider of CFDs in Australia, continues to experience strong brand growth with 43% of clients choosing MF Global Australia because of a recommendation from family, friend or an industry representative.
Anthony Anderson, the head of CFDs at MF Global Australia says that customer service is a priority for the team. “We pride ourselves on having a deep understanding of CFDs and the financial markets and ensuring that we get to know our customers on a first name basis,” he said.
“These results validate the great importance we place on making sure our clients receive exceptional service, a great product and value for money”. said Anderson.
The Investment Trends Report found Direct Market Access (DMA) and financial strength were among the most widely sought factors for traders when they chose a CFD provider. Almost 60% of CFD traders said they preferred the DMA model, with DMA was perceived as a more transparent model offering fairer prices.
“There is still much uncertainty amongst CFD traders about what DMA really is. This is not helped by other providers claiming to be things they are not. MFGA clients can be assured that we are one of a handful of providers who offers a pure DMA CFD offering.” said Anderson.
Around 18% of traders using MF Global Australia said they chose MF Global Australia because it offered a DMA model, which ensures all trades mirror the prices and liquidity of the underlying shares on the Australian Securities Exchange Limited (ASX). Access to indices, overseas markets and foreign exchange are also becoming more important to CFD traders.