I have been looking all over for a futures broker which has low commissions and is reputable, but they all have a "catch". I have done some research and here it is: So far I have viewed : Velocity Futures ( good commissions, but I'm have no plans to put $5000 as a starting capital. At most $3000. ) Apex futures ( Expensive:High commissions 1.99 per side + other fees) Global futures (They have no minimum starting capital which is good. They don't reveal their commissions , they want to negotiate which is fine. I have heard they are also expensive from people, someone said $10 which is unacceptable. ) Interactive brokers (Good reputation, big broker that you can trade all securities on one account. I can start with $3000 since I'm under 26 of age, but $2000+ for the ES is too high, forget it!) TD Ameritrade (Reputable broker, Nice platform TOS. I believe they have $3.50 per side commission which is a no no. Also ES costs way too much at $3000+). Any other options? I feel like Global futures is the way to go unless they can't give low commissions. Anyone here with G.F can tell me what your commissions + fees are? I'd appreciate any response with valuable information, thanks!
look at http://www.deepdiscounttrading.com/ very good ratings, homepage a bit strange, but good FCM in the background. study them
IB is a solid, reliable and trustworthy broker [as trustworthy as a brokerage can't get these days] There is more to selecting a brokerage than just Low Margin or Commission. Overleverage and under capitlization is the fast lane to blown accounts, $3K to trade ES, ya... IB is doing you a favor requiring higher Margin. You may Try PFG or MF Global, I also heard Corzine is opening a fund...
Those guys are good - I just opened some CTA Accounts with CROSSLAND. Quiet professionals, eager for the business, very fair rates. You can open with DeepDiscount or just go direct to CROSSLAND.
If technology (speed, network and support) are important, I would consider Advantage Futures (www.advantagefutures.com). They focus on high volume, high frequency professional traders but take all types of accounts.
wow, it's exciting to see someone above also opening accounts in CTA program. I just opened one CTA Account in energy product, too. But I opened it in IBTRADE. They have very dedicated professionals, free services/consultancy, and reasonable rates, too. Anyone interested in CTA programs can go directly to IBTRADE.
I just signed up for Apex. I still have to fund my account, but I will post a review after I use them for a little bit.
From http://www.ibtrade.com/openaccount.htm : "IBTRADE and PFGBEST offer An Unmatched Trading Experience" That means that most of their customers just lost most of their money (or at least it is frozen indefinitely in the PFG bankruptcy).
ibtrade is one of many victims of PFGBest ponzi scheme. at least the investors are getting their money back albeit slowly like MFGlobal's clients. they now have a nice coming soon page, www.ibtrade.com.