Back-up futures broker

Discussion in 'Index Futures' started by larrybf, Aug 6, 2001.

  1. This question is posed to the BEST and most helpful group of traders on the internet! I trade the emini with interactive and while I think they have a great trading platform ,a system failure last week made me realize I need a "back-up" broker. Netfutures has offered me the "J-trader" . I am TECHNICALLY CHALLENGED (computer dummy) and know nothing about other brokers. Hopefully,somebody can help provide some advice. Thanks.
  2. I use IB also and think they are great, but I would not count on being able to get through to their phone desk when they are having problems.

    I trade in different countries, so I use IB for US business and another broker for non-US. The advantage of my other broker is that they have a great trade desk and they always answer on the first ring. So any problems, I know I can offset there.

    So to answer your question, a back-up is a very good idea (also for diversification of funds), and perhaps consider one where you can phone your order in.
  3. If you are trend trader - which in futures is not a BAD thing ! with leverage and just had a nice year long down trend, I don't suppose many traded coffee on these board - with they head full of level 2
    stuff ;)
    My friends in Chicago trade everything - meats, grains
    I suspect if they smelled coffee - they may have shorted it.
    We have no trends in stocks right now. IB futures is only
    good for 2-3 day run in the spooz, maybe even daytrading.
    Jtrader is also mute for softs and other commodities but
    they may have a desk to call !!!
  4. Amadeus



    Eurodollar, coffee, cotton, J-Yen, Light Crude, T-Bonds. Its been a good year to be a trendtrader in futures:D


    A backup internet connection is also advisable. I use a laptop w/56K connection as backup to exit postions when technical glitches occur. Also have a cellphone with brokers on speeddial. You should have backups period.


    "Build momentum by accumulating small successes"
  5. I use IB primarily (can't beat those commissions!) too but have Lind-Waldock as backup because:
    1) can always get through immediately by phone ---- big staff, 2) can trade any futures contract easily and quickly, with good fills on pit orders and 3) also use their streaming quotes (very good incidentally) as backup for eSignal data feed. Backups are always a good idea when dealing with computers and electronics!