stopdownlimitup
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$10 is pretty high... I'd be aiming for sub $7.
EDIT: I guess I'm probably not very qualified to comment on that actually, as I have no idea what UK brokers are like. I also don't know what your volume is like and if it's low $10 might be a great deal.
I did consider IB but apart from cheaper commissions there is nothing I like about IB. You need to pay for withdrawals, inactivity ( I have periods I don't trade at all), don't like their platform, for me it is very unintuitive, even their website is confusing and also I remember sending them an email and I never get reply.
With Berkeley, apart from commissions I don't have to pay for anything, I like platform I use, they have got landline number and my calls are answered always within seconds so I think it depends what you need. A year ago I did a lot of research and chose BF as it ticked many boxes for me, but thanks for suggestion anyway
Berkeley were the first broker I ever used (Sept 2008), now use Sucden Financial and find them to be much better;
* lower comms
* far better customer services
* funds converted to £ sterling after trades have been closed/ at start of next of next trading day
* no inactivity fee
IMO, platform/ charts are not the best for high frequency trading, (Saxo Bank white label), however real time globex data/ charts are free.
When I started using them several years ago, £5k was required to open an acct, don't know what the current requirement is.
Hope the above is useful.
Peace
* lower comms
* far better customer services
* funds converted to £ sterling after trades have been closed/ at start of next of next trading day
* no inactivity fee
IMO, platform/ charts are not the best for high frequency trading, (Saxo Bank white label), however real time globex data/ charts are free.
When I started using them several years ago, £5k was required to open an acct, don't know what the current requirement is.
Hope the above is useful.
Peace
Last edited:
Comms vary, as an example they currently start from £4.28 per side for the FFI and $7.16 per side for the ES. Withdrawals are free and painless. Slippage is usually not too bad and happens infrequently, having said that, I'm not a high frequency trader.
You can trade futures, equities, fx and cfd's off the same platform.
Peace
PS, Sucden's trading platform is flexible so you can install and trade via 1) computer or laptop/ internet connection, 2) via the web on any computer with internet access or 3) via smart phone. IMO the first option is the best, the second is bearable but their smart phone (I use a Samsung Galaxy SII) option still sucks big time (IMO of course).
See ya.
Peace
See ya.
Peace
That's useful to know, must give them a call.
Essentially that's £4 per side and $6 dollars per side. All in all these things are relative, those prices still work for me as having at least one UK based broker is something I desire, if you know of any UK based brokers that can beat Sucden while providing a free platform, data (Globex) and any of the other benefits previously mentioned, please let me know.
Hope you find something more suitable for your needs.
Peace
neil
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Have a look at Interactivebrokers.co.uk ?
@ jabar2, just reviewed the thread and see you use Berkeley, glad it's working for you.
@ Neil, thanks for the suggestion, looked at them ages ago but hated their platform. However now that you mention it, will steel myself and give them another look in, thanks again.
Peace
@ Neil, thanks for the suggestion, looked at them ages ago but hated their platform. However now that you mention it, will steel myself and give them another look in, thanks again.
Peace
natalietrader7
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hello!! I am new and I would like to trade euribor calendar spread. which broker is best as I have 10000 pounds to start with. I would look for low commisions specially if I want to earn money on calendar spread. many thanks for your advice.
Martin Kong3
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There's one more company to mention and that is.....
ActivTrades - Forex, CFD, Futures. MT4 and MT5. No Commissions
ActivTrades - Forex, CFD, Futures. MT4 and MT5. No Commissions
Just spoken to Berkeley Futures r.e. futures fx trades.
Eurusd/audusd/gbusd are a $7 round trip (I would only trade 1 lot per pair to start with-did not ask if price goes down as my trading vol increases).
That's it, no exchange fees etc i.e is all included.
To use Ninjatrader as charting platfrom will cost the standard ninja trader price-approx $110pcm or $999 for lifetime.
One thing-the acct fella I talked said try the platform for a few months, and if I like it and do the lifetime price then he would try to get what money I already spent on subscription so far taken off the final price.
Also, Berkely is DMA (Direct Market Access)-no trades taken against the customer (do they all say that?). Been around for over 25 years-good sign.
Money is held at Natwest in segregated accts (until they pull an MF Global so would not rely on that).
Macquarie is the global clearer.
Bank transfers etc in UK-no charge (damn right). If you get the transfer request in before 11am then it will be done that day.
Haven't used them yet-that's just the info have been given so far-hope that helps.
Eurusd/audusd/gbusd are a $7 round trip (I would only trade 1 lot per pair to start with-did not ask if price goes down as my trading vol increases).
That's it, no exchange fees etc i.e is all included.
To use Ninjatrader as charting platfrom will cost the standard ninja trader price-approx $110pcm or $999 for lifetime.
One thing-the acct fella I talked said try the platform for a few months, and if I like it and do the lifetime price then he would try to get what money I already spent on subscription so far taken off the final price.
Also, Berkely is DMA (Direct Market Access)-no trades taken against the customer (do they all say that?). Been around for over 25 years-good sign.
Money is held at Natwest in segregated accts (until they pull an MF Global so would not rely on that).
Macquarie is the global clearer.
Bank transfers etc in UK-no charge (damn right). If you get the transfer request in before 11am then it will be done that day.
Haven't used them yet-that's just the info have been given so far-hope that helps.
thebrownbear
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please keep me updated on bfl. Thanks
futures'future
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Hi,
I have been given the commission rate from Berkeley below, it looks like it is not the cheapest. I have been trading abroad, want to dip my toe in day trading in uk. So for now the volume is not going to be big. but $20/rt is crazy.
Commission Rates:
US Futures = $20 per lot, r/t inclusive of the exchange fee.
LME Based Metals = $50 per lot, r/t inclusive of the exchange fee.
Thanks
I have been given the commission rate from Berkeley below, it looks like it is not the cheapest. I have been trading abroad, want to dip my toe in day trading in uk. So for now the volume is not going to be big. but $20/rt is crazy.
Commission Rates:
US Futures = $20 per lot, r/t inclusive of the exchange fee.
LME Based Metals = $50 per lot, r/t inclusive of the exchange fee.
Thanks
r.e. berkeley futures.
Roundtrips were £5 (reduced from initial fee of approx £7). Even then, that's still high.
Most importantly, using ninjatrader, all stops etc are held locally, as in on your PC, and not the exchange! So you lose internet, turn PC off, guess what, you're in the market with no stops. I got mad, but was told I should have known this, and left. The classic "well if you had performed due diligence and read everything, it clearly states that on page 33, section 9, subsection 11" etcetc. Except that I had to communicate with my berkeley broker, who contacted ninja, who then couldn't provide an answer, who I then had to speak to directly, before I got the specific answer. They keep this quiet of course, because it's not something they want to talk about. Patsystems was the data feed. I have no idea if this is an NT/futures market/PAT systems issue, and whether this is an NT issue with other brokers/data feeds. All I know is that this is the case with Berkely futures, patsystems and NT. This may have changed since my experience a few months ago.
I now have IB with sierra charts. Fiddly to set up initially on both fronts, but low round trip costs, (about $4 I think), have a gbp acct with them and am happy so far.
