Futures trading platforms

[china white]

with IB it is the same on futs and options on futs - 2.40 one way. it is the front end OTM spreads that leg u over tho

 

[stevet]

why dont you pm me with a rough idea of your volume

professional options are a few cents either side

 

[Skimbleshanks]

I agree with stevet - it's the commissions which you need to worry about and the back-up; the margin will take care of itself. I do know of traders who have $300 margin per ES contract, but their volume (and therefore commission) is high at lots of 50 minimum.

 

[china white]

Skim - many thx - can u direct me as to whcih brokers wud do 300 margin? I'd be quite happy with 10 biggies.

Cheers mate

 

[Skimbleshanks]

PFG

 

[china white]

cheers mate, I'll check 'em out

 

[Skimbleshanks]

It's negotiable, so it does depend on which office you speak to and to whom within that office. The standard margin they quote is extortionate, but once you have a track record with them they'll drop it when you ask them to.

 

[china white]

Skim u mind a cupl of Qs?

what's their Initial Deposit Requirement, and

what intraday margin will they quote in the 1st contact?

Cheers mate

 

[Skimbleshanks]

$10,000 initial deposit.

Can't quite remember, but I believe the first quote I had from their Canadian office was USD1,700 intraday. But remember that I am female, so I get fobbed off as being a bimbo housewife playing with stocks for amusement, so it takes me more effort to get a sensible quote. If you're male, you'd get a completely different quote no doubt.

 

[china white]

Skim

many thx for yr msg. let me tell u something from my floor experience - yes there r fewer women than men amongst us, but those who make a female trader r usually sharper then their male counterparts cheers to u!

 

[Kvadrik]

About an introducing broker

hi all

I've started looking at day trading FTSE100 futures and would be interested to hear which platforms people generally use.

DP

If you are seeking a good service, reasonable commissions and low margin, then the Global Futures http://www.globalfutures.com/ is the best introducing broker for you.

 

[bgold]

If you are seeking a good service, reasonable commissions and low margin, then the Global Futures http://www.globalfutures.com/ is the best introducing broker for you.

They were also recommended to me. But, I am always a little suspicious about brokers who do not quote their commission schedules on their website.
What are their commissions per leg in softs and grains?
thanks

 

[Kvadrik]

I don't know it, but they have a live chat on their website, and you can ask online...

 

[BBB]

If a broker wont disclose commissions on a web site - its because he would rather negotiate them depending on your monthly volume. If you charge $4 per rt to all customers, you will only attract smaller traders. If you base commission based on size, then larger traders who are more regular and last longer tend to come your way.

I have a broker 'niggle' too. I always prefer my broker to be a clearing member. Dont know why, but I think they will be able to execute orders faster - dumb I know.

 

[cmaxb]

Have a look at eminilocal (http://www.eminilocal.com/commissions.htm). $500 margin and $5/rt (J-Trader). Clears through RCG.

 

[rog1111]

dpfuller

IB does have free integrated live charting from it's Trader Workstation (TWS), and although it's quite basic, it may possibly be adequate for your purposes, depending on what you want to do.

rog1111

Thanks, i had a look at IB but couldn't see any integrated charting. Do you need to use a separate standalone charting package?

DP

 

[TWI]

I use Trading Technologies X-Trader it is £500/month for one exchange 1000 for all . Worth every penny.

 

[cwebbwash]

Re: Platforms and Global Futures

Never used IB. Ffastfill is good but takes too long to load and has too many hardware demands. I use X_Trader but it is expensive and only for high volume traders trading more than 600 contracts per month. X_Trader's supremecy is evidenced by their institutional clientele.

In response to the people in this thread considering Global Futures, I know a broker in Orange County, CA who worked for them and according to him, they don't post commissions because they will try and charge you as much as they can get away with, volume is secondary. However, they do have the lowest margins in the biz. They do pick up the phones quickly, but expect to be transferred a few times before someone can offer reliable help.

C. Webb

 

[cwebbwash]

free X_Trader

one more thing. Velocity Futures is offering X_Trader with no monthly fee with $5.90 rt all in commissions