Futures Brokers Take II

Discussion in 'Index Futures' started by BlueHorseshoe, Nov 20, 2002.

  1. Hi everyone,

    I’ve looked through all of the ‘recommend-a-broker’ posts but just haven’t found them useful for my needs. Can you recommend a broker based on the following:

    1. I trade futures in conjunction with associated options-on-futures. Actually if I look over my historical trading record I easily trade 2x as many options as I do the underlying futures contracts. Thus accessibility to options is important. Access to the futures contract at the exclusion of available options is of little to no use to me.

    2. I need global access to include US, European, Australian, and preferably Hong Kong contracts. Access to the Korean market would be huge, and any others would be nice.

    3. I live overseas so would like to avoid calling in my orders, if at all possible. I prefer universal electronic access with delivery of orders to handhelds for pit-traded contracts. An occasional need to call is ok.

    4. I’m a low-maintenance client w/ equity and financial derivatives. As I diversify into new markets like agriculture, energy, European equities, some broker-provided visibility to research would be welcome but not absolutely essential.

    5. I am an American living overseas & not restricted by SEC (?) regulations on US-resident’s trading overseas instruments. Thus, I’m looking for a US-based (or London?) broker that has an international client base & is ready to grant international trading permissions.

    6. My preference is for an established firm. I’d like to maintain this account for the next 5-10 years.

    7. I’m not overly hung up on commissions as I don’t churn-and-burn. Quite willing to pay modestly above market rates.

    8. I did look over the websites of ET future-broker sponsors & nothing hit me between the eyes, though I may have missed something. Refco looks interesting but it looks like the group has several competing entities – which best serves my needs? The website of JP Futures looks interesting but nobody on ET has mentioned this firm & I’m wondering if the experience will live up to the homepage or they will be around in 5-10 years. No prop houses please.

    I am a very happy IB customer and will remain so indefinitely, but due to my futures trading style I find the all electronic, one-size-fits-all a bit restrictive with my futures strategies.

    Thanks in advance for your considered recommendations.