I want to use the X_trader platform with Globalfutures, but heres the thing... they charge 650 a month for one exchange..then 4.75 rt commission. The minimum needed is 5000 to open an account. Is it worth it?.. I dont like IB's platform.
Sweet Futures, which is Rosenthal Collins Group's retail division, quoted me XTrader for $650/mo. and $0.50 per side, plus exchange and NFA fees. I believe that works out to $3.32/RT on the CME minis.
What's so special about X-trader. I use BT and it seems to fill all demands I have. Anyone having used both can shed some light here? BT isn't free but a LOT cheaper than what X-trader is quoted for. With IB behind it you can trade almost any future (and stock) in the world. Ursa..
use IBs Book trader it works fine... the data page is a pain... it just takes time to get use to it. lots of hidden functions on TWS
cash - do you need the functions of Xtrader? Yes, it is the elite platform, but depending on how you plan to trade in terms of executions and strategies, those fees alone are going to eat you alive, not withstanding any normal drawdowns. Just the $650/mo is 13% per month of a $5000 account. Assuming at the end of the day you make enough to cover commissions and stay in the game, you are going to be losing 13% per month to fees. Now if trading a $1 mill account, the fee doesn't look so bad. Suggestions: Mirus Futures with Ninja or Dorman Direct ProActive Futures with T4 or ProActive Direct Open ECry has their own software that is FREE and VERY nice, esp for a beginner.
The popularity of TT is big and they have the screens out there on the market, the speed of Ninja with Zenfire on the backend blows away TT and their old technology gateways. Use both now but with the speed on Zenfire....their is no need for TT and their 1500 bullshit Pro-API fee. Do some test and see the difference.
Yea, its crazy. Stock brokers dont charge to be connected to NYSE/ NASDAQ or ecn's...ok..well maybe a little bit but, 650 a month on top of commissions? c'mon now.. I'm messing with the demo (without charts! ) . I'll just stick with stocks i guess, besides, I already got an FX account thats greatly under-funded.