I am interested in finding a new firm for trading Futures and would prefer to have one that offers Ninjatrader and a feed with no cost. I sifted through the brokers reviews but it seems that some of the information is outdated and it's difficult to weed out the fly by night companies and the respected ones. As I am a new trader low commissions isn't extremely important as I will be trading a small number of contracts but when I get up and running probably around 5-10 roundtrips a day. I'm also demoing the OpenECry platform and have been modestly impressed with theirs and am considering them. If someone can provide some more opinions on them that would be wonderful. Any input is greatly appreciated, thanks!
Mate ninja is free till you start trading real money they make that real clear. Check out the broker reviews for more on OEC
Ninja only charges once you're executing live orders. You can design your charts, backtest, and sim trade for free. I don't think anyone offers Ninja with live execution for free (except Gain Capital for forex). However, $60 per month is a pretty good deal for an excellent charting and execution platform. The Zen-Fire feed is free through participating brokers -- I use Mirus Futures and I'm very happy with them.
This is more along the lines of what I am looking for I suppose. The feed was the part that was slowing me down as I am not interested in spending $100/month for eSignal at least until I develop a more profitable system. Do you execute your trades on their proprietary platform than I imagine? Thanks for all the input so far.
OEC is a great platform. The charting and data fees are a big plus, if you need/want that. Having a massive amount of FREE data to pull up whenever I want is very nice. No data fees whatsoever. Competitive rates and great service.
Could you elaborate on the bolded portions? I think I am reading it incorrectly. Do you mean that since the charting/data fees are FREE that it is a big plus or are you referring to a feature? Sounds like a stupid question but I got twisted around there. Can you do strategy backtesting with the OEC platform?
Sorry if not clear - OEC customers receive free data that can be used in their charting platform and a few others, such as MultiCharts. So if you do not like the OEC charting itself, you can at least save the data fees and plug the data into a compatible charting platform. Obviously that saves a few bucks depending on how many different products you trade. It's also convenient to be able to pull up any chart I want w/o having to pay a month's worth of data fees. You cannot do backtesting on the OEC charting, so you would have to plug the data into a separate charting package to do that. Again, at least data fees are saved.
That is good information. Do you know what provider they use? Could it be plugged into NinjaTrader? I believe they have a lower fee schedule than Mirus but I am not sure so that would be ideal. Thanks much.
They clear thru RJ Obrien I do believe if that is what you are asking. As for the data vendor, it comes through OEC for all I know. Not sure where/who they get it from. I do believe OEC's rates will be Mirus as well. I would suggest requesting a rate quote from OEC and see where you stand - http://www.openecry.com/openaccount/rate.cfm