the best futures broker

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

  1. mgarc

    mgarc

    you are mistaken. you can check p72 of publication 550 of the irs.

     
    #21     Apr 23, 2006
  2. Jachyra

    Jachyra

    Well thats very interesting, although, that entire page seems to only refer to securities and not futures. It so happens that I actually have an appointment with Mr. Green scheduled for tomorrow afternoon, so I'll be sure to ask him about this.

    If you trade in an entity, like an LLC, I've always been under the impression that "guaranteed payments" to members are subject to SE tax but not necesarily capital distributions.
     
    #22     Apr 23, 2006
  3. rkana

    rkana

    so what would be the best firm to swing trade commodities with?
     
    #23     Apr 23, 2006
  4. mgarc

    mgarc

    please do let us know what info you can find out.

    thanks.





     
    #24     Apr 23, 2006
  5. When I was with them a couple of years ago after they took over FFastrade, their R/T was $3.32, with a $550/mo. platform fee that you could not trade your way out of.
     
    #25     Apr 23, 2006
  6. Jachyra

    Jachyra

    Yah...that is one of the reasons why I primarily trade with TransAct. They have a meager $400 minimum commission instead of a platform fee, so if you do even the slightest bit of volume you basically trade for free. Plus they offer $0.55 per side with no volume committment right in the door. I don't know anybody else that does that. And their first price break is only at 3000 sides per month....and then they get down into the $0.35 per side range. Plus, I get my equity runs by 8:15pm PST same day, so I can go to bed knowing that all my trades are correct instead of having to worry about checking them before the market opens the next morning.
     
    #26     Apr 24, 2006
  7. Exactly why I switched to Transact. They had some problems several weeks ago, but have been back to their usual rock solid self.
     
    #27     Apr 24, 2006
  8. Jachyra

    Jachyra

    They took a bit of a hit recently on these forums because of a lot of system issues caused by those TradeMaven jokers sucking up a ton of bandwidth (something to do with their tick-by-tick studies). Now that they've fled to Man (which is a joke) everything is back to normal. That was the only software issue I've ever seen since I've been trading with them and even that didn't affect me at all. I think it really only affected traders trying to use TradeMaven through TransAct. Otherwise, rock solid and very stable.
     
    #28     Apr 24, 2006
  9. com 'on 3 or 4 months ago transact's software either threw trade maven or threw there own pike was down all the time. maybe they fixed it. but again for somebody who positions with futures there $400 min commish or 367 r/t's makes there gig exp. amy people only trade 100 r/t's a month were that would mean transact instead of $3.42 r/t for the es would be over $4
     
    #29     Apr 24, 2006
  10. lite

    lite

    thanks guys, for your ccontribution. it's very helpful, especially Jachyra. thank you.
     
    #30     Apr 24, 2006