the best futures broker

Discussion in 'Retail Brokers' started by lite, Apr 21, 2006.

  1. lite


    can anyone recommend a good reliable broker or brokers that offer great trading platform and low commision?
  2. Take a look at global futures
  3. it depends on your style, volume, etc....
  4. Jachyra


    Assuming that financial and technical stability is an important factor, then it depends on volume.

    If you're doing hardly any volume at all, then your choices are either Velocity Futures with free X_TRADER or Interactive Brokers (don't sell them short...the number of different exchanges they have connectivity into almost forgives their quirky stupid Java interface).

    If you're doing some volume, then you have a choice between Velocity, and my personal favorite, TransAct Futures. I trade primarily with them and absolutely love it. Their platform doesn't have all the bells and whistles, but its a very thin client with a small footprint. In my opinion, its almost as reliable as X_TRADER. And I think their commissions are probably the lowest you're going to find with no volume commitment. If someone is getting lower than $0.55/side please feel free to post it here.

    If you're doing medium to heavy volume then you have a choice of either TransAct or Advantage Futures. A lot of professionals refer to Advantage as the best clearing firm that nobody has ever heard of. Awesome financials. They're clearing members of 4 different exchanges, claim to have more floor badges issued by they CBOT and CME than any other exchange member, and they always show up somewhere between 18 and 30 on all the FCM capitalization reports. You have to purchase a monthly X_TRADER license at a pretty hefty price, but if you're doing that kind of volume then you really could care less.

    Hope this helps. If anyone has any better recommendations I would love to hear them.
  5. Advantage will probably offer 25cents a side. You will have to pay for Xtrader. I am assuming you will be doing some volume everyday. Advantage offers 25 cents a side until you hit $16,000 in commissions then it is reduced to 5 cents a side.

    Jachyra what is your average daily volume?
  6. How does XPresstrade compare with IB (averall rankings), anybody knows?
  7. 25 cents a side... ib looks like a rip off at 2.40$
  8. Xenia


    What do you want to say ? IB is NOT $2.40 ex-fees.
  9. 25 cents a side commissions. That does not include clearing fees!!!!
  10. Transaction fee+Brokerage fee+Inactivity fee+Maintenance fee+NFA+Clearing+Exch fee

    Any of the fees above( hidden fees)?
    #10     Apr 23, 2006