Is it worth it to change from an IB to a FCM?

Discussion in 'Retail Brokers' started by Ruben Haiko, Sep 14, 2020.

  1. tiddlywinks

    tiddlywinks


    The best thing commission-wise is to lease an exchange seat. However, this affects taxation, so there is more to consider than commission savings.

    But yea, the landscape is very competitive.
     
    #11     Sep 14, 2020
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  2. CALLumbus

    CALLumbus

    This is a funny thread, so I want to add a little bit to the confusion :)
     
    #12     Sep 14, 2020
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  3. CALLumbus

    CALLumbus

    But there are also introducing brokers for Introduction Broker !!
     
    #13     Sep 14, 2020
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  4. CALLumbus

    CALLumbus

    I mean, yes, they are FCM !
     
    #14     Sep 14, 2020
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  5. CALLumbus

    CALLumbus

    Introduction Broker is FCM.
     
    #15     Sep 14, 2020
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  6. CALLumbus

    CALLumbus

    I mean Interactive Brokers, of course.

    But they also have introducing brokers, IB.

    So everything is right, I guess.
     
    #16     Sep 14, 2020
    Ruben Haiko likes this.
  7. I have TT with Amp no issues. If you want TT DESKTOP get a direct account and work with Amp to enable your platform- that’s how I have it.
    You will be billed for platform and data directly by TT
     
    #17     Sep 14, 2020
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  8. CALLumbus

    CALLumbus

    Ok, jokes aside, now some serious input from me:

    an introducing broker pools activities from its clients and can therefore negotiate better rates for them, often much better than what an individual client with low volume could expect. In addition, they offer some handholding and service that the bigger FCMs cannot and dont want to offer for a low volume client.
    So for a beginning trader with low volume, an introducing broker can absolutely make sense.

    If you get more experienced, need less handholding and service from your broker and move some serious volume, it might be time to switch diretly to a FCM and negotiate individual good rates. If you trade at least 5000-10000 contracts per month, most FCMs will start listening to you.
     
    #18     Sep 14, 2020
  9. CALLumbus

    CALLumbus

    They still are. In this CFTC report you can find all the FCMs in the USA:
    https://www.cftc.gov/sites/default/files/2020-07/01- FCM Webpage Update - July 2020.pdf

    And find information about their most important financial data (customers assets, capital requirements, excess net capital ... ).
     
    #19     Sep 14, 2020
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  10. heispark

    heispark

    If you were not very happy with AMP as a scalper, then I guess you won't be happy with others either..... Try AMP+Rithmic+free Sierra Chart
     
    Last edited: Sep 14, 2020
    #20     Sep 14, 2020
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