 "They lie on their commissions" - svrart | January 31, 2009 3:35 AM |
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I use their web interface which is sufficient for me as I am a long term trader. Executions, service etc quite ok. They quote 99c for electronic contracts, but I have been charged 10$ all in one way for electronic platinum, 12$ all in one way for electronic US dollar index futures and so on. Their trick is to give a low quote for the E-mini and charge very high for everything else. Steer clear of these liars!!! |
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| "Their REAL commissions are too high!" - ProfitPirate | December 12, 2008 11:35 PM |
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They advertise $0.99 cents commissions, but then they'll add some "customary" fees too. Ask them what you'll pay with ALL FEES INCLUDED, for say, natural gas or unleaded, and it's almost $20 per contract, round turn! |
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 "Good choice IF they meet your needs" - VoodooMMI | April 23, 2008 10:46 AM |
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I was looking for a futures broker to allow me to trade stock index futures (primarily ES and NQ contracts). 2 things that were MUST HAVEs for me were 1) ability to enter orders through a web browser (when I'm at work) and 2) competitive commissions. One thing I WANTed to have was free front end software to enter orders when I'm at home. I contacted 19 futures brokers and Go Futures seemed to match my NEEDs and WANTs the best. To get their lower commission rates you need to open your account with at least $5,000 see http://www.gofutures.com/commissions.htm I have done a few trades in ES and NQ and can confirm that my total round turn commission including all fees is $4.30. As I have not used the "FAST" front end software much I can not accurately gauge it's reliability yet. But I was told if there is a problem to exit the software and relaunch the application. I'd prefer to have reliable software but relaunching the application is better than rebooting the computer. For any broker you are considering confirm that they trade the contracts you want to trade, confirm what your total round turn commission will be including all fees and any other NEEDs and WANTs that you have. I counted 106 available contracts on the order entry screen at Go Futures. In short, Go Futures meets MY needs and I'm happy with my choice. With a little homework and a few phone calls you can find a broker that matches YOUR needs. For active futures day traders (unlike myself) I've heard good things about Velocity Futures, you may want to check them out. I would have gone with Velocity Futures but the didn't offer the ability to enter orders through a web browser. |
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I tried out DirectTrade's/GO Futures's "FAST" platforms for several months and the software frequently had problems. Often, it would not start properly. On days when it would start properly, the charts and quotes would sometimes not update properly for reasons that nobody was able to explain to me. I called customer service/tech support SEVERAL times about this recurring problem, but got no return phone call.
Also, I had $3 - $6 per side of ADDITIONAL "customary" fees for exchange/brokerage/clearing showing up on my trade statements. (And by these, I'm not talking about the normal rates for exchange clearing fees--I mean additional fees that were way, way more than normal.) |
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