Looking to change broker & software

Discussion in 'Automated Trading' started by greedysob, Nov 12, 2005.

  1. I have recently started writing and testing automated systems with a partner. We chose to start with interbankfx because they work with MetaQuote's free software, and they also allowed us start out with less risk capital in a mini account. Forex also seemed like the perfect product to trade, having a 24 hour market with very high liquidity around the clock.
    However; experience has definitely changed our outlook. For starters, the connection reliability of InterbankFX has proven horrible. They claim that it is due to a recent wave of new customers and that it will improve, but until I actually see improvement I'm not confident trading with them.
    In addition, I've noticed that the trading systems I've tested profitable against equities on wealth-labs site aren't generally profitable in forex. I understand that different markets behave differently and that is normal, but I'd like to be able to trade against multiple markets and further diversify my trading approach rather than throw out those systems.
    To cut to the chase, I'm looking for recommendations for brokerage and software combinations that would allow us to trade in multiple markets from a single account while keeping our costs as low as possible.
    I've taken a look at Interactive Brokers, and they offer me the ability to trade the markets I want, but I am unsure of what software would be good for them. We've acquired a copy of amibroker, but the automated trading capabilities seem very limited. They themselves even warn against using their software to trade in a live account.
    Tradestation offers a very nice software package, but it looks as though you need to have a separate account for each market you want to trade. In addition there is a recurring cost to their software if you do not trade enough, even though typically that shouldn't be an issue with our systems.
    I'd be interested in any recommendations anyone has in the way of software or brokerages that they have used to utilize automated trading.

    Thanks in advance.
  2. i went to red sky and they are an exellent broker and you can trade stocks, futures and options.
  3. bigsid


    Just moved to cybertrader and am pleased with execution and the cybertrader pro software. Great pricing on the per share plan.
  4. I don't see anything about them being registered and stability?
    I remember they was sponsor here last year, but not much talk about them
  5. Considering they allow you to clear through Merrill or Goldman (plus Southwest for stocks only) and any funds unused for Futures trading are SIPC insured (as per stock trading), I'd say they are probably one of the safest places to trade through. of course, I could be wrong, anyone care to comment - considering the recent Refco funny business one cannot be too sure...

    Nana, you won't find too much info on the here on ET, as they don't accept 5K min futures accounts - or rather their clearing houses impose higher limits.

    I plan to move some of my trading to them, so naturally I too am curious about the safety of funds.

    Knowing them, I'd say one of the firm's principals will probably show up here to set the record straight.
  6. I knew it, but i thought through who they clear, is irrelevent for safty of your funds
    Which bank account the wires go into?
  7. RedSkyRep1

    RedSkyRep1 Red Sky Securities

    Let me speak briefly about what we can offer. We are a non-clearing FCM and introduce our accounts to Goldman, Merrill Pro, Fimat and O'Connor (soon to be Fortis). In other words, you trust us with your technology and one of those firms with your money. We do have a higher minimum than most firms at 25K. In terms of speed of prices and orders and stability, we feel we have the best technology on the market.
  8. I WILL vouch for red sky. they have
    the best technology and API off all
    and speed is the best. Red sky is it.
    Patrick_Henry Trading System
  9. I posted at our blog a few days ago about some interesting differences between equity trading and forex trading.

    You may want to take a look at that,

    One main issue that is important to system traders is related to how the historical data series is constructed. That affect your system testing results a lot.

    For most equity trading models, you will need to add a lot of filters before they can become close to profitable in the forex markets.
    #10     Nov 23, 2005