DMA CFD Trading on a WebIRESS Demo Account

WebIRESS is one of the most popular trading programs for DMA CFDs in Australia and is proposed by almost all of the major online brokers. WebIRESS is popular in the share trading community as well as with DMA CFD dealers. Traders using WebIRESS are able to trade both shares and DMA CFDs using the same WebIRESS login. Charlene Pedrolie Alley Cat

Most CFD and on-line share brokers in Australia can give a WebIRESS demo for possible dealers to download any try prior to opening a real trading account. This is important to notice that WebIRESS demo documents do not allow one to place orders or view your portfolio, the reason for this is that WebIRESS must be linked to an IRESS Order System (IOS) in order to work and place orders, demo accounts are usually not linked to an IOS. 

As WebIRESS is a web-based trading platform demo accounts are accessed on-line utilising your web browser, however it is important to notice that WebIRESS requires Java to be installed on your PC in order to work correctly. When first installing WebIRESS you will be prompted to setup the most recent version of Java. It is critical that the most recent version be installed as your webIRESS might not exactly function appropriately on older editions of Java.

Upon first glance your WebIRESS demonstration will appear quite basic with the workspace design being divided into four frames, however when transitioning to the multiple record interface (MDI) mode you will quickly realise the power of the WebIRESS desktop interface. In the MDI mode you are able to freely move windows across multiple displays and simply create customisable workspace tabs.

When closed fist logging with your WebIRESS demonstration you will find that it can most likely have delayed market prices and only one degree of more detail, this is normal. Following opening a real trading account you will be given the option a subscription to live data at an expense of around $38. 50 for ASX data, after registration you will have full use of live market data, span of sales and full market depth.

One particular of the great features of webIRESS is the market map. The market map is essentially a heat map of the industry providing a visual rendering of the market motion of stocks in each of the sectors in real-time. The size of the squares in the map represent the market capitalisation of each of the stocks and the shades of red or green provide an model of how much the stock has moved up or down. The industry map is great for dealers buying a quick snapshot of the movement of stocks and shares with regards to their sector and the entire market.

After you have spent time browsing through the menu items, creating watch lists and customising a layout it is highly recommended to explore the charting functionality of your WebIRESS demo and become familiar with the graph and or chart indicators and layouts and how you can adjust them to suit your trading strategies.