Go futures

Discussion in 'Retail Brokers' started by volente_00, Jan 30, 2006.

  1. Does anyone have an account with Go futures ?
    Who do they clear through ?
    How stable is the platform ?
    How do you like them ?
  2. I did, then I switched to IB. IB is a lot better and has access to a lot more markets.
  3. They clear through Farr Financial. I liked their platform, it is easy to use.
  4. did you ever trade ES with them ?
  5. hello V,
    i have one with them. they clear through farr financial. i only use their internet platform(www.farronline.com). they have 2 platforms...one internet and another one, where you download it..kind of like jtrader(the feel is like jtrader also).
    i find that their internet platform goes down once in a while..meaning if you try all the URLs and can't log in, it is down. in the past, i have noticed 2 or 3 times a month outages, they would try to get it backup within 5-90mins, no need to call their desk since they too use that platform also ... so you are kind of "stuck" if it goes down...there are cases where i have seen my $200 profit go down to -80 before they got it back online for me to get out...hence, you must use a trailing stop when your trade is in profit and a stop once you get into a position(great discipline rule huh?)....i only use the internet platform since it is probably the only 1 -2 that actually work behind a corporate firewall. i trade at my job with this platform and get quotes thru my treo 650 with quotrek.
    on the internet platform, you get limit, market, stop, mit, and moc order types, there is no order cancel orders, you also get an extremely basic chart with the platforms....i think they show depth(dom?) but i couldn't get it when i was using the other downloaded platform. no depth for the internet platform.
    go futures is okay for my needs; i'm not as active as most guys here...$500 daytrading margins for eminis, simple internet platform(think of the old datek),fast executions, and cheap commissions(99cents plus those damn exchange fees) so YM is like 4.58 and es is like 4.30 or something similar....the prices are round turn.
    i'm a newbie still learning the game and getting my butt kicked around. i make around 3-7 trades a day with 1-2 contracts...sometimes i forget i'm in a trade while at work...

    you may also want to check out titan commodities(http://www.titancommodities.com/ )which looks promising as a back up for me...$500 daytrading margins for minis and an internet platform also!
    i believe they clear thru man financial... i'm not as active so i believe it's $10 per round turn for me but you may qualify for the active traders quota commissions..which is only a few cents more than gofutures..$5.

    keep up the great work on this board! i have learned a lot from you... don't necessary follow you on your trades but it has broaden my knowledge and opened my eyes...i'm still looking for my style and edge in trading.

    take care
  6. mjagadish


    Can anyone help me with very precise information on commission, taxes and fees. I am based in india and planning visit the US soon to demonstrate our techniques.
    Basically, I want to know what i am left with if I trade futures.

    In India my systems without brokerage and taxes have given positive returns always. But with brokerage and taxes some months are drawdowns.

    The figures are something like this : (Indian Rupees)

    Nifty Futures - Lot size 100
    Value - around 3000

    So lot buy will be 300000 and a sell 300000 so thats 600000

    I do something in between scalping and intraday pos trades.
    Say arnd 12 trades based on my systems.
    Profits without brokerage and taxes are now an average 36000 per 10,000,000 ... will this ratio work in the US ? so thats 0.0036 % . Please help me with the numbers.


  7. Thank you for your input on gofutures and for the kind words. Keep an open mind and keep looking and you will find your place in trading.

  8. What futures will you be trading in the US ?
  9. mjagadish


    I guess it will be one of the Eminis .. definitely an Index futures ..Nasdaq comp or Nasdaq 100
  10. mjagadish


    I want to know what numbers will be profitable for say Nasdaq futures (one of the products for example).

    Please give me an example with numbers. In India we have several taxes plus brokerage (commission)
    the various charges are :

    Stamp Duty
    Securities Transaction Tax
    Turnover Tax
    Service Tax

    and so on .. at a bare min it still comes to quite a bit. ..

    Thanks for your help .. :confused:
    #10     Jan 31, 2006