Hello, 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.
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.
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.
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?
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.
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.
Ok, thanx for help another question: which stock exchange offers small contracts for the gold/silver or for the brent and the oil crude? EDIT: I see the CBOT has very small contract size http://www.cbot.com/cbot/pub/cont_detail/0,3206,1276+14416,00.html but there I see poor liquidity, http://www.cbot.com/cbot/pub/page/0,3181,1789+2008U,00.html Am I right is it enough for scalping? What is a trading cost for the mini contracts?
-> dmcw 1.What is your minimum deposit requirement? 2. Could you explain this FINRA's rule http://www.finra.org/InvestorInformation/InvestmentChoices/DayTradingInformation/p005906 I am from Europe and 25k requirement is the shock for me.