Anyone who trades WTI-Brent spread ..who do you use ?

[gonnamakeit]

I'm interested in trading the WTI-Brent spread from home and was wondering who you trade with.

For some reason IB have all the single futures contracts but not the WTI-Brent Spread!

Thanks in advance

 

[gonnamakeit]

anyone?

 

[£10kLoser]

I've traded it with CMC, Cantor and IG Index. In my opinion, IG is the best but make sure that you open a Standard Account, not a Limited Risk account otherwise you get another 3 pips added to the spread for 'guaranteed stops'. 99.9% of the time IG will honour your stops precisely, anyway. The first time I tried this, I was worried because the stop had been hit a few minutes ago but the trade was still open. No problem, if the price is in your favour you can manually close it, if not just wait for them to activate the stop! It's a win win situation. I regularly have trades break through my limit and IG haven't closed them so i just do it manually for a few extra points!

 

[DC STOXX]

What exchange does this spread trade on? I have no heard about it before?

I don't trade energy, but i don't think it exists as a product and you have to create the spread yourself, which should be very simple with a auto spreader

Dont even bother using a spread betting company if you are serious about intraday spread trading

 

[gonnamakeit]

thanks for the reply Black star and and £10kLoser
Still not sure of my question as to what complany i can trade the spread with
Black Star ...
Both contracts are traded on the ICE exchange....and IB dont allow you to create spreads between 2 different products.
You mentioned auto spreader...how does that work and who can i do it with ?

Thanks in advance

 

[DC STOXX]

There must be a few, but i am only slightly familiar with the auto spreader on TT from trading technologies, google for info they have video examples on their site, It aint cheap but that doesnt matter because you should be making enough to cover your costs based on your trading plan if you choose this route.

And im pretty sure wti is traded on globex, not ice. Ice might have a contract for it, but i doubt its liquid?

 

[£10kLoser]

What exchange does this spread trade on? I have no heard about it before?

I don't trade energy, but i don't think it exists as a product and you have to create the spread yourself, which should be very simple with a auto spreader

Dont even bother using a spread betting company if you are serious about intraday spread trading

What's wrong with spread betting companies? They are regulated by the FSA, have tight spreads and, with the best, the price you click is the price you get. Who could want anything more? Who cares which exchange anything is traded on so long as our broker has it? The big spread bet firms have pretty much everything.

What's all this talk of trading the spread? I think you're confused by the terminology - nobody trades the spread! We all trade the instrument which is crude oil in this case!

 

[DC STOXX]

What's all this talk of trading the spread? I think you're confused by the terminology - nobody trades the spread! We all trade the instrument which is crude oil in this case!

lmao is this a joke? You might want to edit that before to many people read this as its possibly N00B quote of the year.

I cba explaining how everything you have written is wrong and clearly you are a fresh fish ready to inject some innocent money into the markets. Just do some research and learn about trading before you speak like you know something, especially on a forum which is read by a lot of professionals

 

[trader_dante]

lmao is this a joke? You might want to edit that before to many people read this as its possibly N00B quote of the year.

I cba explaining how everything you have written is wrong and clearly you are a fresh fish ready to inject some innocent money into the markets. Just do some research and learn about trading before you speak like you know something, especially on a forum which is read by a lot of professionals

Hey, Black-star, don't you have a tick to take out of the Estoxx?

 

[DC STOXX]

Hey, Black-star, don't you have a tick to take out of the Estoxx?

ESX? If i can make 2 ticks drinks are on me, for the whole forum

 

[£10kLoser]

lmao is this a joke? You might want to edit that before to many people read this as its possibly N00B quote of the year.

I cba explaining how everything you have written is wrong and clearly you are a fresh fish ready to inject some innocent money into the markets. Just do some research and learn about trading before you speak like you know something, especially on a forum which is read by a lot of professionals

Talk about the blind leading the blind!

Break-even traders like to think they're elite because they use 'proper' brokers. Most critisism of spread betting comes from those who've lost money and want to blame somebody else.

Whatever the imagined shortcomimgs of spread betting, it can't be worse than having to pay 40% tax on your profits - anyone who doesn't understand that is obviously not making enough profit for it to matter.

I've been trading for about ten years, often at £100 a pip.

Having made my money, I am semi-retired and involved in developing new trading systems and helping others to learn. I just trade £10 a pip now for fun...

 

[DT]

And im pretty sure wti is traded on globex, not ice. Ice might have a contract for it, but i doubt its liquid?

I don't trade it personally but it is fine to trade on ICE

You can trade the individual legs via auto spreader or similar or there is also a contract for the spread itself.

I guess if you were going to trade it via a retail broker then it would probably be best to just stick to the Brent/WTI contract itself to avoid getting legged up.

@ The OP I'd check with IB's customer support as I'd be surprised if they didn't have this given that the spread is also traded as a contract itself.

 

[DT]

What's all this talk of trading the spread? I think you're confused by the terminology - nobody trades the spread! We all trade the instrument which is crude oil in this case!

If you don't understand the OPs question or even what he is trying to trade then I don't think you're in a great position to be commenting.

 

[gonnamakeit]

DT..thanks

You said the spread is available on ICE but who can i use to trade it..which brokerage firm ???

I have spoken with IB many times and they give different answers but most of them have said i cant trade that spread as its 2 different products...

All i want to do is be able to trade that spread with someone where i dont have to pay a lot to bigin with...can u guide me where to go...

cheers

 

[DT]

Well if you're not getting any luck with their customer support guys then you could try posting on the IB thread here:

http://www.trade2win.com/boards/brokerages/18316-interactive-brokers-99.html

I'm surprised it is an issue for them, if you're not getting any luck then perhaps just change brokers. I've not traded this spread myself but used to sit next to a couple of guys who did. This was at a prop firm though so I wouldn't know who to recommend in terms of retail brokers.

There is a US broker who seem to be offering subsidised rates for TT - velocity futures - you could try giving them a call? GNI, berkley and mirus might also be worth ringing.

Good luck with it...

 

[grantx]

£10K,

FSA authorisation means Jack with regards to SB's. Moreover, being in Malta automatically excludes you from FSA provisions re client protection, etc.

Grant.

 

[grantx]

Gonnamakeit,

I know nothing of energies but if you have to trade one contract against the other rather than just the spread, it will be expensive in terms of margin and commisions (4x vs 2x). Spread trades are usually netted-out (?)so margin is minimised.

Grant.

 

[wasp]

PM 'TWI' - he should know. Also Arbitrageur uses TT I believe (mentioned earlier) so may be able to answer.

 

[grantx]

Wasp,

If it's traded, it can be spread on TT but this will be two legs.

Grant.

 

[wasp]

Wasp,

If it's traded, it can be spread on TT but this will be two legs.

Grant.

Cheers Grant,

Not my field so ignorance reigns, just saw TT and know Arbitrageur uses them.

I'll shut up now