Look for a good broker

Discussion in 'Retail Brokers' started by FutureTrader10, Mar 23, 2006.

  1. I will start an account with $600k and will add more fund in the future. I mainly trade on GLOBEX emini (nq,es,er2, euro), ECBOT emini(ym, gold), NYMEX emini(QM) right now, like to expand to more products in the future. I use my Excel trading program to manage the emini trading. I hope you can supply me with Excel API interface. That means (1) you will import real-time quotes, positions (No. of contracts) and order status into Excel. (2) I can place, modify and cancel order through Excel.

    If you are a broker or know some broker who can meet my needs and give me competitive commission rates, please send me a private message.
  2. romik


    why do some traders use excel in conjunction with say X_trader or perhaps any other platform. As far as I understand it, X_Trader basic version does not offer autotrading, so using Excel will enable you to do so. But if I don't need autotrade function, could you explain why would one benefit from using Excel?
  3. m2n


    Have you checked out Interactive Brokers? They allow you to trade Eminis, and soon, pit-traded contracts too. They do have Excel DDE where you get real time quotes and order execution ability. They also have ActiveX.
  4. You can write your own trading program in Excel with VB. I am not a professional programmer. I can only write some VB sub's in Excel.
  5. Thanks m2n! You are right. IB seems to meet all my needs. But I read a thread http://www.elitetrader.com/vb/showthread.php?s=&threadid=65260 few weeks ago. I am a little concerned. Do you know any other good one out there?
  6. who the hell would trade 500k of futures? thats not even remotely realistic. you're taking about trading what 1000 share emini blocks. with $500 margins you could trade 1k blocks of the es. and even though overnight near 4k a contract no way you hold 100 contracts overnight.also how could you put 500k with any futures broker outside ib who sweeps ther money.all thse futures brokers have no ins
  7. m2n



    I haven't tried withdrawing funds from IB yet, so I don't know if it is problematic or not.

    The easiest way to test it is to deposit a small amount, say $2000, and then withdraw it electronically. Since all their deposit/withdrawal is via electronic fund transfer with your bank, this should be very easy. In the worst case, you can ask your existing broker to withdraw funds for you on your behalf and deposit into your current brokerage acct.

    If you are really concerned, check out their compliance files on NASD website to see if SEC has any regulatory/enforcement action against them on this issue. (If you find any, please let me know too!! :)
  8. Richard Kontra

    Richard Kontra Global Futures Exchange <br>& Trading Company

    Hello "Future Trader 10" my name is Richard Kontra, I am a Broker from Global Futures, I do not know if anyone from our firm has made contact with you, but I did noticed your post in regards to finding a broker. If you are interested in receiving information on platforms, commissions or even our procedure for withdrawing funds please contact me.
    Thank you for your time

    Rick Kontra
  9. That guy's account was over a half millions, close to mine. Plus, he was closing his account. His fund is still not completely returned after almost three months. I certainly don't want that happen to me! I doubt anyone can test it from depositing a small amount, say $2000, and then withdrawing it. The situations are too different.
  10. def

    def Interactive Brokers

    I'll repeat what I've said earlier.

    The problem was not due to IB refusing to send out the funds. The funds were sent but the receiving side did not properly reject the wire.

    IB has several billion dollars in client fund including many multimillion dollar accounts. If withdrawing funds was an issue, you certainly would have heard more about it here and due to complaints, IB wouldn't have an excellent regulatory track record.

    If you set up your banking instructions as directed on the web site, withdrawals (and deposits) will go very smoothly and swiftly.
    #10     Mar 29, 2006