Looking for a good futures broker

Discussion in 'Retail Brokers' started by Arcanine, Nov 27, 2009.

  1. Arcanine


    I'm looking for a good brokerage to open my accoutn at. I'm principally interested in trading futures markets (E-minis mostly; maybe currency futures, the DAX, and some others). Here's my short list of candidates:

    Interactive Brokers
    Infinity Futures
    Mirus Futures
    FuturePath Trading

    People who trade futures, can I get your input? Which of these are good, or are there some others that I should be considering? I'm mostly concerned with commissions & fees, and service in case of emergency.

  2. Advantage Futures or Cunningham Clearing...hands down the best two out there.
  3. what are you currently paying per round turn?

    Also, what is the futures symbol for the DAX as I am told the es trades along the dax.. Thanx. I would personally go with mirus since they offer $500/RT and the zenfire feed is excellent.
  4. I don't know the symbol for the DAX, as it will depend on the platform you use....plus I just trade the livestock and grain markets...

    I get an extremely low rate at both brokers (have a spec account at one and a hedge account at the other), but I also do around 200 R/T's per day. Not sure what their regular retail rates are, but if its the lowest around for high vol, I'm sure its still the lowest around for low vol.

    you won't get $500 margin at either one of these places, usually 50% margin on intra-day, but imo $500 ID margin is a quick way to the poor house anyway....and mostly just a gimmick.

    btw...zenfire feed is not as good as the CQG or CTS feed imo....both of which I use and have no complaints about.

  5. CTS is that the T4 platform ?
  6. Nexen


    When choosing one do look beyond commission rates.

    Things like customer service, hedging alternatives and interface scalability and reliability play roles as important or even more than rates themselves.

    As you take this business more seriously you will start adopting multiple brokers but if I had to choose only one, I would say Interactive Broker.

    Last but not least look into capital protection.
  7. Arcanine


    @TraderTX: Thanks, I will look into AdvantageFutures as well.

    @Nexen: Can you go into a little more detail about interface scalability, reliability, and capital protection? What should I be looking for/asking questions about?
  8. Be carefull with Mirus.

    Great broker. Unless you need customer support. Then you are stuck in the most unprofessional thing I have ever seen with people that seemingly dont care and have no problem just letting your items rest for weeks. Plus give you false information.

    And filing a formal complaint is the best way to get your account closed as "the particualr broker has not had a complaint for 3 years and we only want satisfied customers". Also a nice way - throw out everyone complaining and you only have happy customers ;)

    That said, as long as things run they run. But then, this is computers doing the work.
  9. YES


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  10. in that clip
    if not secret what broker used for CTS T4 ?
    and what broker/data feed used for Ninja Trader ?

    #10     Dec 1, 2009