newbie is looking for a broker

Discussion in 'Index Futures' started by Schlachtschwein, May 22, 2002.

  1. I think your JTrader (PATS) is based on Microsoft´s Java VM.

    Not a good idea. Get some current info about MS´s Java "strategy" !
    #31     Sep 25, 2002
  2. Hubert


    both work fine i just like pats better
    also like the fact that i dont have to wait 15 min on hold for IB
    but the do have the IM thing and it works good i just dont like to type

    you can usualy get close to or a better rate than IB you just have to trade more and Negoatie the rate

    but IB work good i just like Pats better
    #32     Sep 25, 2002
  3. Hubert


    i think past and the abily to get a hold of some one is worth an extra dollar and .10 cents

    but i can afford to be stuck in a trade and no one to help
    i think of it as insurace

    but i have no ax to grind IB works good just not my style nothing personal
    #33     Sep 25, 2002
  4. Aranha


    Dear Crazy Trader,

    Sorry if I sound dumb, but does E-local offer 4.90 rt despite the number of contracts per trade?

    I mean, I could buy 20 contratcs and then sell 20 contracts (to close the position) for the S&P mini, and I will be paying only 4.90 ???

    Also, what is the web site of the E-local?


    #34     Sep 26, 2002
  5. I am an active trader and gave the platforms at Advanced Futures a try, after reading about them on elite. Since I trade large lots and have lost a lot of money from system downage, I have tested the trading desk a couple times to see if they are fast. So far they have been great, which gives me tremendous confidence when trading the S&P or e-mini.

    I have tried a lot of the trading platforms and services out there and so far this is the one I like the best. What I have learned is that price is not always the key underlying factor. Although a dollar will cost me up to $3,000 more a month, reliability and knowing that someone will answer the phone is more important. When something goes wrong, my judgment is based upon how much the person who answer the phone cares about my money, not just doing his job. If I have 5 S&P's and a system goes down, I want that guy on the phone to know that at that moment getting out of the trade is the most important thing in both of our lives!

    This board is great! Thanks guys........
    #35     Sep 27, 2002
  6. Aranha,

    Not sure. I thought someone might have an answer for it.
    Sorry my mistake, i think they advertises $5.98 per round turn.

    I assume a round turn is a buy and sell, it never say anything about how many contract per side.

    Anyway, if you want to call them, their website is

    IB is cheap but a friend of mine say IB's globex connection are not stable. That is it will go down a few times a day.

    If you do call them, I will be glad to listen to you experience :)
    #36     Sep 27, 2002
  7. peterhill,

    How much is the comm at Advanced Future?
    On their website, they have 2 platform right.

    Does their $4.90 round turn apply to per contract?

    How about insurance on you fund with them? e.g. SIPC or something similar

    For tax purpose, does trading future qualify you for the
    60/40 tax benefit.

    #37     Sep 27, 2002
  8. There are problems with Globex, but I am pretty sure that IB is not the only broker affected. I chose to trade Mini-Dow (4$ per RT) until dust settles at Globex. Fact is that CME is doing a major upgrade to their Globex software. And yes, they seem to have some unexpected technical problems with their new software release.
    #38     Sep 27, 2002
  9. IB's globex connection has improved significantly this year.
    #39     Sep 27, 2002
  10. aranha, No, commissions are quoted per contract. Sometimes round turn (like $5.00) or sometimes per side (like $2.50), so one contract would be 2.50 per side or 5.00 per round turn, and 20 contracts would be 20 times 5, so that's $100. And one tick on es is 12.50, so one tick times 20 is $250 minus $100 commissions. So that is why it is so easy to make money trading 20 contracts.
    #40     Sep 27, 2002