MBT trading - they allow futures trading too - 6.00/side. www.terranova-mb.com. They use Realtick III platform.
i cant see how a broker can get away charging that much - does anyone really use them - let alone make money? why would anyone pay that per side when you can less with other brokers per r/t
Does your J-Trader platform allow trading of all markets, or only the electroniclally traded ones? Hofferino
My 2 cents for IB... There has been alot of comments on this board about how bad IB is and all the disconnects. I have had 2 disconnects in the last 2 months trading futures only. There has been the occaisonall GLOBEX problem but nothing I have lost over. I trade more ACE however and have not had even one problem. My only regret is that I took to many years to switch. I have saved well over $6,000 dollars over my previous broker (what I would have paid) and $1,500 on paying $10 dollar commission. That is $9,000 a yr on paying double IB's price. That cost to me is worth perhaps and GLOBEX problem. Would even save about $2000 (yearly basis) over Advanced Futures based on my current daily trading. (Based on the $5.90 price) Make 'em pretty, Chris
if you are just starting out I would recommend something simple some of the services like PFG etc are probably your best bet since they include software support, clearing etc. However, if you really feel like this is something you want to do full time- then it is crazy to continue to pay $14/round turn. after you play around for a while find a clearing firm that has a competitive rate and allows you to choose your software. When you start realling trading a decent number each day- rates and software are critical I've been using Trading Technologies for the last 16 months and could not be happier- I mainly trade Eurex, but every now and then some CME. They are slightly expensive, but if you are actively trading the market it is well worth it
Any opinions on using Tradestation for futures? I've been told that their executions are slow because (according to my source) their platform goes through the internet, but I haven't seen the platform myself. Apparently the commissions are fairly reasonable.
Junior, consider Apexfutures too. They give you Pats (J-Trader) at no cost, very low margin and minimum account, clear by RCG and fees are much lower than those you can read in their site if you send a message to craigross, who is monitoring and contributing Elite forums (do a search with his name to read threads). They are not anyway as cheap as IB, but I found them MUCH more responsive when I had a problem, so customer service should be an issue in the complex equation to choose a broker, IMHO. No affiliation at all with Apex, just an happy customer, and I discovered them here in Elite forums.
Anyone who have tried TradeStation for trading futures? They just lowered their commission to 3.99 per side. What disadvantages/advantages may there be?
Granville x, just a word of caution on using Tradestation to trade the futures: their platform currently goes over the internet, hence your order has to be translated into html and then back out of html. Think: slow! Their platfom is NOT the same as the TS platform, but rather the very clunky and poorly designed platform of their clearing firm, Lind-Waldock. All this is supposed to change when TS7 comes out sometime this year, when the futures platform should be integrated into the main equities platform, but the company isn't guaranteeing anything. Caveat emptor.