E-Trade is offering no platform fee for TT_Trader for those who want to trade futures. Margin rates seem higher than many of the smaller firms that advertise on ET and are known to have very good data feeds. My question is how good is their execution, throughput and stability during volatile markets? The amount to open an account is also much higher than other places, they require $10k to open the account.
I think you answered your own question. IMHO e*trade is not the place to experiment trading futures on TT, for several reasons. There are many more reliable/cheaper venues.
Not sure I answered my own question about reliability. Yes, fees and cost of entry it's definitely not competitive. But is it reliable? Can you share whatever reasons you had in mind for not trading futures through them? Thanks.
Do they have a reliable 24 hour futures trading desk? Which FCM clears for them? What are the intraday/overnight performance bonds for ES...etc? Why should I pay higher commissions than the going rate? Does anybody you know/member here, trade futures through them? I need some answers before I get a warm and fuzzy feeling trading futures through e*terd on TT.
These are all good questions. Their commissions and margin rates are indeed higher than many popular brokers here. That all said, none of this addresses the issue of network reliability, order routing reliability, support of the TT platform and the overall issue of execution speed as it compares to other popular brokers here. The question about whether or not they have a 24 hour desk is a very good one, I appreciate you making that point and I'll ask about it. Believe me they are not my first choice, but I would still like to know how they rate in the categories I list above.
e*trade uses MF Global as the FCM. $2.99 a side plus exchange fees is highway robbery. Plenty of FCMs out there to choose from.
I understand the commissions are not great. I really would like to focus on whether or not there are any liabilities with their execution, their platform support, their system, etc. You mentioned MF Global. Are they considered in a good light? If so, then it would possible be a positive answer to the questions I'm focusing on? Or is it not that simple? Thx again.
MF Global is "the world's leading independent broker of exchange-traded futures and options". They didn't get to that position by being 2nd rate, but many traders don't like them. You can open a futures account directly with MF Global or through numerous IB's. Using e*trade as your IB for a futures account at MF Global makes no sense at all.