Futures and Forex Broker

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stefan416

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Hey everyone,

So Im in search of a broker that deals in both Futures (es, 6e) as well as Forex. Im a Canadian whose been demoing forex and then Futures for a few months now and about a month ago decided to open an account with Interactive brokers. Keeping in mind that they are connected to "every" market I cant think of at a price, their trading platform is certainly too much. Ive tried to set TWS to my needs but the way positions in some instruments are shown....lets just say I dont need the extra hassle of deciphering it.

So basically Im looking for a broker with good commissions and a great platform for execution (DOM) like ninjatrader. Ive heard good things about Velocity Futures and they have X trader which Ive heard is good, but they only offer futures therefore leaving me to find another broker for forex and having to split my account.

If you guys could point me in the right direction I would very much appreciate it!
 
Thanks for the reply Peter, I have in fact already checked then out....their Canadian counterpart.. unfortunately they only offer a limited assortment of instruments, mainly stocks on the tsx.
 
checked out Global Futures, they have some great rates but it seems that thier futures and forex accounts are separate and not "universal" like IBs. Is Interactive brokers the only one to do that? I dont want to have to choose between one market or another since I swing trade forex and day trade Eminis. Any thoughts?
 
stefan416 said:
Thanks for the reply Peter, I have in fact already checked then out....their Canadian counterpart.. unfortunately they only offer a limited assortment of instruments, mainly stocks on the tsx.
Click to expand...

You can't sign up on the US site?
Canada and US have a lot of mutual agreements so it would seem odd but I'm certainly not up to date on all the regs.

Peter
 
"Im looking for a broker with good commissions and a great platform for execution (DOM) like ninjatrader." Ninjatrader works well with IB.
 
wackypete, maybe I can I forget whether or not I had asked the rep from Thinkorswim Canada if I could do that. I think since Im in Canada I have to be with the Canadian arm of TDameritrade or what ever it is lol. Some please correct me if Im wrong

idetkov, I havent used their charting but Im currently using their DOM and order execution through IB API on demo and like it very much. To my understanding though, in order to trade live with NT you need to shell out a grand to buy the license right?
 
stefan416 said:
Isnt thinkorswim 7 bucks round trip?
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Yes, their posted rates are not the best. They haven't quite kept pace with the industry in that area. You can easily get a reduction in fees if you trade every day with a reasonable volume. Just ask and they will do a review for you while you are on the phone.

I guess it depends what's more important for you since it appears your choices for the type of broker/platform you want seem to be limited. I can tell you I've been with them for many years trading stocks and only recently with forex. I've never had problems with the platform and their customer service is top notch.

I haven't used MBTrading but they seem to get good reviews.

Let us know what broker and platform you finally choose. :)

Peter
 
stefan416 said:
Hey everyone,

So Im in search of a broker that deals in both Futures (es, 6e) as well as Forex. Im a Canadian whose been demoing forex and then Futures for a few months now and about a month ago decided to open an account with Interactive brokers. Keeping in mind that they are connected to "every" market I cant think of at a price, their trading platform is certainly too much. Ive tried to set TWS to my needs but the way positions in some instruments are shown....lets just say I dont need the extra hassle of deciphering it.

So basically Im looking for a broker with good commissions and a great platform for execution (DOM) like ninjatrader. Ive heard good things about Velocity Futures and they have X trader which Ive heard is good, but they only offer futures therefore leaving me to find another broker for forex and having to split my account.

If you guys could point me in the right direction I would very much appreciate it!
Click to expand...

You might want to check Fastbrokers
PathFinder Trader™ platform download and Support, Forex trading, Futures trading, LMAX trading - FastBrokers
You can trade Futures, multiple Forex ECNs, and CFDs through LMAx. Their commissions are great and the platform even more.
 
wackypete, Ill see if Im able to even trade with em first. what kind of volume is necessary for discounts? I trade anywhere from 2 to 10 round trips on any given day. TOS definitely has an A+ platform. I current use it for charting. I just cant stand Interactive brokers way of dealing with positions.
 
stefan416 said:
Ive never heard of Fast Brokers. Does anyone on this board have any experience with them?
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They're in the US registered with CFTC/NFA. Eminis rates $1,95 per trade and Eurobund Eur 1,45. with a pretty accessible 2,500 minimum account. Their platform is professional and free. You can also trade forex on Currenex and CFDs on LMAX. As far as spreads on forex and cfds they're quite interesting.
Have a look at this tool Spreads and Statistics - Information about spreads, execution & more - forex Trading - FastBrokers
 
Thank you from all us at Interactive Brokers, for your vote in declaring us the winners of:

"Best Equities Broker" - Gold Award (1st Place).

"Best Futures Broker" - Gold Award (1st Place).

"Best Forex Broker" - Gold Award (1st Place).

"Best Options Broker" - Gold Award (1st Place).

"Best Realtime Data Feed" - Silver Award (2nd Place).

"Best Mobile Trading Application" - Gold Award (1st Place).

"Best Software for Options Traders" - Gold Award (1st Place).

The full list of winners can be viewed here: Trade2Win Members' Choice Awards 2011
 
stefan416 said:
wackypete, Ill see if Im able to even trade with em first. what kind of volume is necessary for discounts? I trade anywhere from 2 to 10 round trips on any given day. TOS definitely has an A+ platform. I current use it for charting. I just cant stand Interactive brokers way of dealing with positions.
Click to expand...

I didn't like IB GUI as well at first (it's intimidating) but after I got used to it it's easy. Took about 2 months of trading. I did eventually leave because I liked Tradestation charts, but am thinking about going back.

razor
 
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