Any recommendation for low-price discount commodity brokerage?

Discussion in 'Financial Futures' started by profitwinner, May 30, 2004.

  1. Hello Everyone,

    I am new to this board. I have been trading stocks for over 10 yrs. I just started to learn how to trade commodity (focus on precious metals and currency).

    I am trying to find a low-price discount commodity brokerage. I found this web sit as follows:

    Based on my checking on the web sites, my final list is as follows:

    Anco Discount Futures
    Rich Futures

    Which one of these would you prefer? why?

    Thanks a lot for your recommendation in advance,

  2. XPRESSTRADE is good...they have a trading desk open 24 hrs during the week so that if you botch an entry, they can help you out.
  3. What are you trading?

    If you need pit futures, I hear Open e-Cry is very good. I have never used them, but I have talked to one of their brokers before when I was thinking about going to a broker which offered pit contracts. I hear good things and their commissions are fairly competitive.

    I use IB for the electronic stuff, like index, bond, and currency futures. Good commissions, decent platform, and very convenient with their universal account which allows stocks, options, futures, and, hopefully soon, forex.
  4. gold, silver, bonds and options of futures...

    I don't tick trade much since the less I trade, the more I seem to make.

    Xpresstrade screens are kinda clunky, but since I'm not worried about 0.0000001 moves, they work for me.

    I've heard good stuff about e-cry.
  5. I use Open Ecry.

    Michael B.
  6. I have used XPRESSTRADE: I find them too expensive for the service provided... They are about 22 $ r/t, which is more than twice my current broker's rate (for pit traded commodities). Also, their clearing agent ADM, made alot of mistakes: almost every day in my statement there were corrections from previous trades. Sometimes, corrections were wrong, too!

    I have been happy with Ira Epstein, clears through MAN, using the RAN platform. Problem: they don't 24 hours access. To tell the truth they said they were going to have it in a few months.
  7. I owe some of that to the notion that the entire futures trading system is about as neanderthal as it comes.

    a bunch of 30 somethings with gravely voices at a pig calling contest.

    I try to stay away from pit traded anything....

    understanding that there are many entrenched interests to keep the system like it is, I can at least see an electronic live book to judge what's on the other side.
  8. Has anybody tried

    They are a subsidiary of Mann Futures.
  9. How about NetFutures? Has anyone tried them?

    They offer $10 round trade for option using Man platform.


  10. I trade with them, have been customer for several years.

    The only reason I could see not to suggest them is that you really get limited service: if you are a moderately experienced trader then it might be your choice.
    #10     Jun 2, 2004