thecigargirl pats is dependent on the clearer you are connected to - ironically RCG is the one having the most problems at the moment - but anyway, why dont you want to use a java based platform and do you use the esignal charting?
Anyone using Gelber or xtrader? Seems very cheap for large traders. Do they use the internet or go direct to cme node? Gelber (Trading Technologies XTrader) emini commissions 0 to 2,500 = $1.00/side + fees 2,500 to 5,000 = $.70/side + fees 5,000 to 10,000 = $.40/side + fees 10,000+ = $.20/side + fees monthly minimum commission requirement $1500 account minimum $50,000 monthly software fee $750 (for one exchange and an additional $200/month for each exchange after that)
same comment i made else where - they are not cheap - thats what you pay when you hit real volumes and you hit these volumes because each trade is much cheaper - catch 22 trading low volume is expensive!
I guess the consensus is IB. I'll try it. And if that doesn't work, Refco. Thanks for the input everyone.
I think this thread has made enough publicity now. please use the broker ratings to get some more info.
I would advise anyone thinking of simply using one platform for all your trading and all of your funding to think twice. Invariably, each broker will experience some sort of outage at the least favorable time and if you are trading high leverage, you could seriously blow out...I am only saying this so that you consider the worst possible scenario...I also encourage people NOT to use the available margin money or to overleverage their accounts...I have been trading these markets for awhile and I have seen all times of insane things happen like the FOMC Greenspan surprise attacks, Globex lock downs that carry into the next Globex session, anything can happen...Even if it means just putting $2500 with another account and letting the cash sit there, at least you will know you can offset a portion of your position should your primary broker go down... (For what's it worth IB did have problems today at 2:35 PM and I have confirmed this with other IB customers who also said that they had a connectivity problem and either could not close out open positions or initiate new ones...That being said, I do not want to put the blame entirely on the shoulders of IB. Globex is experiencing a MASSIVE surge in volume since everybody discovered the e-mini futures. I swear every equity daytrader who did not have the $25k suddenly opened an IB futures account)... For whats it worth...
If one has an account at broker A and is long 3 e-mini sp contracts.There is a tech problem and he can not reach broker A. So he calls broker B where he has an account and sells 3 contracts to offset his position.Does he need the full cme overnight margin requirement with broker B ? It seems like at least 5 emini contracts would be good to trade so they could be offset in the pit. Great points you made in your post.