WebIRESS is considered one of the best prevalent trading platforms for DMA CFDs in Australia and is offered by most of the major on-line brokers. WebIRESS is prevalent in the share trading community as well as with DMA CFD traders. Traders using WebIRESS are able to buy and sell both shares and DMA CFDs using exactly the same WebIRESS login.

Most CFD and on-line stock brokers in Australia are able to offer a WebIRESS demo for prospective traders to download any try before opening a real trading account. It is very important to note that WebIRESS demo accounts will not permit you to place orders or view your portfolio, the reason for this is that WebIRESS must be connected to an IRESS Order System (IOS) so as to function and place orders, demo accounts are usually not linked to an IOS.

As WebIRESS is an internet-based trading platform demo accounts are accessed on-line using your web browser, however one must always note that WebIRESS needs Java to be installed on your PC so that you can function properly. When initially installing WebIRESS you’ll be prompted to install the most current version of Java. It is critical that the most recent version be installed as your webIRESS demo may not function properly on older versions of Java.

Upon first glance your WebIRESS demo will appear quite basic with the workspace layout being divided into four frames, however when switching to the multiple document interface (MDI) mode you will suddenly realise the power of the WebIRESS desktop interface. In the MDI mode you’ll be able to freely move windows across many screens and easily produce customisable workspace tabs.

When fist logging into your WebIRESS demo you will discover that it will likely have delayed market prices and just one level of depth, this is common. After opening an actual trading account you’ll be given the option to subscribe to live data at a cost of around $38.50 for ASX data, upon subscription you will have full access to live market data, course of sales and full market depth.

One of many great features of webIRESS is the market map. The market map is essentially a heat map of the market providing a visual illustration of the market movement of stocks in each of the sectors in real-time. The size of the squares in the map symbolize the market capitalisation of each of the stocks and the shades of red or green present an illustration of just how much the stock has moved up or down. The market map is fantastic for traders searching for a fast snapshot of the movement of securities in relation to their sector and the overall market.

After you have spent a while navigating the menu items, developing watch lists and customising a layout it’s advisable to look at the charting functionality of the WebIRESS demo and become accustomed with the chart indicators and layouts and how you can adapt them to fit your trading techniques.

When you decide whether WebIRESS is the right trading platform you will need to factor its price into your trading budget, most brokers and CFD providers offer the WebIRESS platform at a cost of somewhere between $55 to $88. When combined with ASX data charges your entire per month fee will come to around $95 to $125. If you’re a frequent trader you’ll probably discover that your stockbroker or CFD provider will cover the WebIRESS expense on your behalf, however if you aren’t a frequent trader it’s important for you to work out whether the added features available on the WebIRESS platform are worth paying for as there are lots of free CFD platforms obtainable offering comparable features.