Futures pit trading: which broker?

Discussion in 'Retail Brokers' started by 1.6180340, Dec 20, 2005.

  1. I want to trade on NYBOT and COMEX and that is still pit trading, no electronic trading.
    Does anyone of you have experience with a retail broker that allows you to trade on NYBOT and COMEX ?

    Since I'm not a daytrader, execution within milliseconds is not the most important for me. But I would like to have a reliable broker that offers a decent and reliable web based interface to place my orders.

    Please share your experience with me !
  2. WinDiff


    Try Refco Capital Markets!

  3. ellokn


    Condider a broker that has a clearing membership and their own people on those exchanges. I think a list of clearing members can be found on the exchange web sites.

    If your trading strategies require blitz execution in those markets, best of luck.

    These are pits and sometimes, especially when markets are fast with lots of unusual volume, there can be moments of trading at different prices, depending on where you happen to be standing in the pit.
  4. I use an IB of Man Futures to trade futures in CBOT grains, CME meats, COMEX metals, NYBOT softs (coffee, sugar, cocoa, ojuice), NYMEX energies, and NYBOT/FINEX currencies. The pit traded futures have been absolutely no problem for me. I'm a position trader not a daytrader, average trade lasts many weeks and is rolled over into a new front month at least once. For what I want, Man has been perfectly satisfactory.
  5. I would look at Refco, and Man, and since Man has taken over Refco accounts it it sorta the same. Although they are still operating seperately.

    If you want to trade New York Commodities definitely get a broker that clears trades on those exchanges, like Refco and Man. You want a large pit presence with clearing clout. Slippage can really get you in the softs.
  6. Based on what you said I would suggest Man as well (strong metals group).
  7. how much volume does a futures trader need to get a direct phone line to the floor these days ?