New Trader. Please Suggest a Broker

Discussion in 'Retail Brokers' started by mnkc, Feb 19, 2008.

  1. mnkc


    Hello I am new to trading. I am basically interested in position trading in futures with a typical holding period of weeks to months. Please suggest a broker who is suited to my needs. Broker reliability is very important to me. So far I looked at Think or Swim because of its strong feedback from users. I could not find much information about their futures products. Thanks for the info.
  2. I have a TOS account. They offer ES, YM, ER, NQ, as well as the core grains and metals.
  3. mnkc


    Hi suedeuno

    Mostly interested in the grains. Do they charge any inactive fee or software fee? How is your experience with TOS? Thanks
  4. They have corn, wheat and soybeans on CBOT. They do not charge any inactivity fees or software fees. Their is no extra charges for data. The price they give you is all in. My experience has been great with TOS. You won't find quicker responding support and don't be suprised if Sosnoff (head man) emails you personally on things related to trading. They're committed to putting money into their products and add new features every month or so. We're told new products are coming mid-March. Hope this helps.

  5. Go to top of ET, and click Brokers. You can read the reviews of many people, not hang on the words of a few...
  6. SDacct


    I vouch for their great customer support. They respond within hours if not minutes and you usually hear back from management. They are always willing to help you out.

    Live chat is also a great plus during trading hours.
  7. Assuming the above statement is true, the last step in learning to trade is finding a broker which meets your needs - not the first step. In fact, what you perceive 'your needs' to be now will most assuridly change as you gain knowledge.

    Crawl. Walk. Run. Then Fly.

    - Spydertrader
  8. If you are new to trading, then you absolutely should not be trading futures. You should start out by trading odd lots of highly liquid ETFs like QQQQ or SPY. This way you can limit yourself to small losses. You will need to take a lot of losses in order to learn, so you need to make sure they are small losses. Futures trading will force you to incur larger losses, so that you will be more likely to get wiped out before you can ever become profitable.
  9. mnkc


    Thank you guys for all your suggestions. Its a great help.
  10. check out manduca trading, too... it's an ib in chicago that has a bunch of platforms and great support
    #10     Feb 23, 2008