Is anyone here using MF Global for futures trading? Would you recommend them? or Is anyone here who doesn't recommend MF Global? I am in the process of selecting a broker for futures trading and need help in narrowing my search.
I am also watching for a new broker. If you are quite new, I would recommend IB since it's my back-up broker. You can trade a lot of worldwide exchanges, commissions are low and the platform is free and permits a lot of things like calendar spreads... For my core trading, I am investigating those guys: - Advantage futures -Mirus futures -AMP futures -Alaron -velocity futures -zaner -Vcap futures -Dorman futures
TraDaToR Thanks for your reply! I have a question. You wrote, "If you are quite new, I would recommend IB....". Could you please elaborate? Is IB only good for new traders and not for experienced traders? Who is your current broker and what do you trade?
I think IB is good for both new and experienced traders, but if you are an experienced trader with a clearly defined style, there may be more adapted solutions. I am with TradeStation which is quite a mess. I have checked Advantage but cannot get accurate datas from TT network + NT( From what I see , if simulated fee is the same as regular one on TT, IB free datas are better than TT's...LOL ). I am looking now for a zen-fire solution but commissions are usually high with zen.
I can highly recommend MF Global. We use them for years. Apply with MF GLobal in London they are the best in customer service and have very good rates when you do volume. Chicago MF Global i am not sure.
MF Global is outstanding for futures trading, but you should ASK for what you want. MF provides a few in-house platforms, MTrade & MTrade Pro (J-Trader); as well as others. If you're new to trading, I'd start with MTrade b/c it's free, gives live quotes & charts & is easy to navigate. As you gain experience trading, you'll want to upgrade to MTrade Pro, which is the same thing as "J-Trader." I've traded futures with RJO Brien, ADM & others.... MF Global is the best, in my opinion. Consider this: You can trade DIRECTLY with the clearing firm (MF = #1 firm by volume); or you can trade with a brokerage that "introduces" you to the clearing firm & have a middleman. As a professional trader, I've eventually found it to be favorable to cut out the middleman & trade directly with the FCM. Hopefully this helps! MF's a great firm.
Advantage for me, and I have had no data issues in over a year using TT and Ninja. The service level is amazing, especially when you compare to Tradestation, or IB.
I'M CURRENTLY WITH BOTH ADVANTAGE AND MF, BUT WILL BE SEVERING TIES WITH MF AND OPEN AN A/C WITH EITHER AMP OR MIRUS. ADVANTAGE ARE GREAT. MF - DON'T GO THERE. ARCANE, SECOND RATE TECHNOLOGY AND PLATFORM. MOST OF MY BAD FILLS HAVE ALWAYS BEEN WITH MF. OF COURSE, THIS IS ONLY MY PERSONAL EXPERIENCE.