How much does Man financial charge for commissions and platform fee for emini and pit traded s&p future? Thanks,
I have an account with MAN and it's pretty much what Lefty says. Very old school. I think you could do O.K. with Man but not if you're daytrading the account.
I currently manage 6 client accounts at Man, they are the only accounts that constantly give me headaches. All European indices, given into them ( I execute all biz on 1 platform and give up to multiple accounts at multiple FCM's) is a guaranteed minimum 1 day late being posted, usually 2-3 days..then it may be punched incorrectly buys as sells, cac as fib, the list is endless!! Of course Man blames the executing broker for not giving up correctly or in time....but all my other accounts receive trades correctly...if that doesn't work then Man NY blames Man LND, or Frankfurt/Paris... If I could choose where my clients clear, I couldn't recommend Man from my experience. That being said, its just my situation, the company size, security,coverage & service points stand true, if thats what your looking for!
Thanks for the insights. Would you be kind enough to share your trading platform of choice and your FCM of choice. Thanks.
IMHO, man is open to suggestion on commis if you trade the volume. Personally, I'd rather clear thru a firm that has a high probability of being able to take a real hit from a client, and open the next day than firms that have almost nil commissions, but can get wiped out by a client. Balance sheet risk, to me, is important. But many disagree with me, so to each his own.
Good points. The problem though is that there are strong firms (REFCO for example) that can do MUCH BETTER than MAN in terms of commissions and service. The issue though, at least for me is finding a firm that is strong on both the futures and equities side. Currently only IB seems to have good capabilities on the equities side and futures side, but I am concerned about their customer service and their TWS paltform is a little too complex/busy for my tastes. The more I think of it I think there is a void in the market place for a "new IB' that will match IB on fees, have a simpler platform and beat them on service. It is sad that in a multi-billion dollar industry the options seem so limited.
There are few indy specs out here. For retail, even etrade is jumping into the game. For larger desks, its all in-house stuff. I used to trade equities, futures, options ets etc and found it too exhausting. I now focus solely on futures, I like the T+1 settlement, and no worries about weird fills etc. I make about the same with 50% of the effort and live a healthier life.
To CPTrader If you do not like complexity of TWS, I would suggest to try any of 3-rd party tools that work with us http://www.interactivebrokers.com/en/software/tools/commercialToolsDisclaimer.php?ib_entity=llc Our CS was criticized a lot on this board but many customers are happy. You can estimate it only from your own experience. Open an account and try.
hey ids, I`m a customer of IB and I`m sure IB doesn`t know or care if customers are happy in my experience