The cheapest platform for silver and gold trading

Discussion in 'Commodity Futures' started by Done 777, Aug 6, 2008.

  1. Done 777

    Done 777


    where can I find platform with small transaction costs for silver and gold. Oanda has c.50 spread for gold it is 0.05%, too wide for me.
  2. sprstpd


    Can you trade GLD or SLV (ETFs)?
  3. kxvid


    Think or swim is pretty cheap. 3.50 per futures trade, including exchange fees. Only problem is they dont have many commodities to trade, but they do have gold, silver, crude, corn, dow, soybean, oats, a few more.
  4. dmcw

    dmcw Global Futures

    If you want to explore the possibility of trading COMEX or CBOT Gold and Silver (or mini) futures, I'd be glad to talk to you. Particularly if you're going to trade the CBOT metals, I think I can put together a great offer for you. We have several platforms to choose from, but if you contact me we can discuss what would best suit you.
  5. Done 777

    Done 777

    Thanks for help, but I generally seek OTC paltform, I plan to scalp the market and I see the regulated markets in USA have some limits and requirements for day traders. I'm from EU so the USA markets are the black magic for me. Why every OTC platform has 50 cents spread on the gold, EVERY! Is it monopoly or something?
  6. If you want to scalp gold & silver, forget about the OTC market. Futures is the way to go !
  7. Done 777

    Done 777

    A guy I know told me, futures contract isn't a good solution for day trading, because there is a problem with liquidity - oanda opens position in miliseconds, globex opens position in 10-20 seconds.

    How big is the globex's fees for 1 futures contract on silver or gold for day trading (non-members) - I see n/a. I see the IB takes max $1,2 per contract + exchange fee.
  8. dmcw

    dmcw Global Futures

    CBOT Gold and Silver exchange/clearing/NFA fees are $1.07 per side.

    COMEX/GLOBEX Gold and Silver fees at $1.46 per side. Comex has more liquidity than CBOT right now.

    I'm not 100% sure what your friend meant, but it doesn't take 20 seconds to fill a market order in either of these contracts. I would think fractions of a second is more likely. Let me know if you'd like to try a simulated demo. There's no cost or obligation.
  9. Done 777

    Done 777

  10. Done 777

    Done 777

    #10     Aug 14, 2008