You need to be more specific with your specific needs. Each has it's pros and cons, as does everything in life. I use TransAct aka Infinity, have used Mirus and Velocity. They are all better than average.
+1 You should consider in terms of 1) Commissions 2) Margin requirements 3) Availability of support 4) API 5) Features of trading platform. Platform fees. Monthly fees. 6) Markets to trade So choosing broker is very person-specific. For newbies IB is a good and cheap platform. I personally use Velocity and I am happy with FIX API, you can also use Ninja. Infinity or Transact do not have API support AFAIK. Mirus has slightly larger commissions So it is up to you. RR
hey guys, my broker needs are such: 1. Margin doesn't need to be huge 'cuz i do not want to trade too much size anyway. probably just 1-3 contracts (over leverage is a sure way to gamble yourself out of your money, unless your accuracy is > 80%) 2. Cheap Commissions 3. Be able to trade a variety of futures instruments 4. i probably trade an approximate of 1-15 roundtrip trades a day 5. would like a free trading platform, since i use tradestations for data vendor and charting, so i would just need their platform to allow me to place trades, manage trades, set orders 6. platform should not take up TOO much cpu and lag the computer.
OpenECry is an excellent firm to trade through. The platform is FREE and INCLUDES real-time data. Most other platforms are free but you may have to pay for a separate data source to plug into the platform. Example - I like NinjaTrader, very nice platform. But you still need to pay for a data source to flow into it. With OpenECry, all of that is included and it's free for active traders. And even if you are not active, I believe the monthly fee is $24.95 and you simply cannot find data in futures for that cost. I have DTN as backup and that's around $100/mo for data alone.
I've used IB in the past, but was not satisfied. Recently switched to trading directly with MF Global (through their Private Client Group-- mfglobalfutures.com). They've treated me extremely well, the rates are really cheap, and there is access to almost all major exchanges. They have quite a variety of platforms too. E
I have an account with Global (Penson cleared) and I am using GST. $5 commish, $50 month platform. The platform is decent but the charting is absolute shit. I have CQG for charting but I would like something that is all in one like Tradestation.
Trading at Advantage Futures...... .99 commission + fees. Good service, no frills. I am a CQG integrated user, but I believe Advantage has Ninja and some other platforms at no or little cost.