Berkeley Futures

badtrader

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I recently open an account with Berkeley futures. The reason being they are based in the UK.London.I dont like my money being hold in the USA, they commission and margin are very competitive. Does anyone here trade with them and has there been any problems. For me so far so good. I had a problem with my internet connection the other day, I phoned them to get me out of my trade. and what I liked was, They answered the phone with 2 rings and I understand they have been going for 20 years.Any one on T2W trades with them
 
they are not cheap.there are chaeper online brokers around.in fact i would say double the price of others.however,the service is good
 
dentist007 said:
they are not cheap.there are chaeper online brokers around.in fact i would say double the price of others.however,the service is good
Agree they were expensive in the past. But recently they have changed they structure to get in line with others. I pay $5 R/T to trade the Mini Dow. and Margin is only $610.

Yes, you can trade with IB for around 0.80 cenc cheaper. at around $4.20 R/T. But and its a big but. I know berkeley futures will answer the phone quickly if I have a problem.
 
They are not cheap. I use to trade through them but have sinced moved. There are many other places offering better rates and solid trading platforms. The reason for the quick service is because they have lost alot of clinets over the last few years. (A friend of mine works there and he was telling me how they were going through old list of clients trying to get them back)
 
daps

What did you trade.and how much commission was you paying with berkeley and margin?

The only reason I moved from IB was, they are slow in answering the phone, if you happen to have problems. With berkeley I am getting $5 r/t not bad. for the service I am getting.
 
I cant find $0.85on the net. Could you forward me, where such a deal is and does one need to trade over a few 1000s contracts a week, to get such a deal
 
Then again. I would rather pay a little extra to have a good service. If I can make money with a S/B trading Forex with a 3 pip spread. :cheesy: I can managed paying the cost of trading 1 market points, to trade the YM.with berkeley
 
mr.marcus said:
....try $0.85 a rt for mini dow.....the deals are out there if people spend the time doin the research and find out how the whole clearing system works.look into what makes up the $5 cost you have.$0.85 a rt is out there if you want it hard enough....happy hunting.

cheers mark j

Could you give us an example?
 
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badtrader said:
I recently open an account with Berkeley futures. The reason being they are based in the UK.London.I dont like my money being hold in the USA, they commission and margin are very competitive. Does anyone here trade with them and has there been any problems. For me so far so good. I had a problem with my internet connection the other day, I phoned them to get me out of my trade. and what I liked was, They answered the phone with 2 rings and I understand they have been going for 20 years.Any one on T2W trades with them

I have been trading with Berkeley Futures now for over 3 years. They are not the cheapest for commissions but their service is excellent. I would recommend them.
 
daps said:
They are not cheap. I use to trade through them but have sinced moved. There are many other places offering better rates and solid trading platforms. The reason for the quick service is because they have lost alot of clinets over the last few years. (A friend of mine works there and he was telling me how they were going through old list of clients trying to get them back)

Although we don't put ourselves out as the cheapest broker around we will match anyone's commissions if the volume is there. We have grown our client base year on year and of course we are keen to reopen old accounts as well as gain new ones. We do operate a dealing desk so we don't restrict clients to trading on-line and are happy to provide a full telephone back up service. Over the last year we have enhanced our on-line trading platforms and now provide greater on-line capabilities than ever before. I would be delighted to talk to you about these and any of the services that we offer.

Marc Quinn (Associate Director, Berkeley Futures Ltd)
 
zigglewigler said:
http://www.gofutures.com/

99 cents!

Don't use them, so I can't comment.
GO Futures rates apply to accounts with an initial deposit of $5,000. All accounts funded with less than $5,000 will be charged $9 per contract. Applicable exchange, clearing, and regulatory fees apply.

You would need to find out how much thye fees are.Also it goes up to $9 r.t,if you balance falls below $5,000, :rolleyes:
 
So what's $5k?

But anyhow it sounds too cheap to be any good. Unless anyone out there has long term experience of this firm?
 
zigglewigler said:
So what's $5k?
For the smaller trader. If you deposit 10k and it goes down to 5k and below. you will get charged $9 r/t to trade regarding the small time trader. like I said in my last post. plus exchange, clearing, and regulatory fees one need to add all these up first. You know the old saying If it sound to good to be true. ///??????

I think you can open an account with berkeley for 3k.I am not sure maybe by marc form Berkeley can comment on this
 
badtrader said:
GO Futures rates apply to accounts with an initial deposit of $5,000. All accounts funded with less than $5,000 will be charged $9 per contract. Applicable exchange, clearing, and regulatory fees apply.

You would need to find out how much thye fees are.Also it goes up to $9 r.t,if you balance falls below $5,000, :rolleyes:

IB rates for 1001 to 10000 contracts/month are 70c (unbundled) i.e on the same basis, before exchange, clearing, and regulatory fees. Add on that lot for ES and you're up to $2.06 all in, each way. Becoming a member of the exchange improves the position by 84c, (reducing the exchange fee + regulatory fee to 32.5c from $1.16)
 
peto said:
IB rates for 1001 to 10000 contracts/month are 70c (unbundled) i.e on the same basis, before exchange, clearing, and regulatory fees. Add on that lot for ES and you're up to $2.06 all in, each way. Becoming a member of the exchange improves the position by 84c, (reducing the exchange fee + regulatory fee to 32.5c from $1.16)
peto

To get $2,06 with IB you need to trade 250 lots a week, I am not doing 250 lots a week. so this wouldn't be much good to me, but thanks for you post peto

But the reason I moved from IB to Berkeley is this. I placed a trade on the YM 8 lots. then the platform frozen. Then you guessed it, the market was moving against me and fast. I called IB to get me out, but the phone kept ringing and ringing,AND RINGING, this cost me 48 ticks. if they picked the phone up within 5 rings when I called them I be only down about 15 ticks. This have happen more than once to me. I closed the account down after that.Thats the reason why I open with Berkeley. Yes, I am paying around 80 cenc more round tern. But i rather pay a little more in knowing when I get a problem they will pick the phone up quick. and I think the services is much better they seem very professional

And with my kind of trading I don't thrive on 1 to 3 tick moves on the YM,I look for around 10 to 20 ticks, I also trade the Russel2000 so I dont mind paying 1 tick to enter. and I am only paying half a point on the Russell

Thanks for the post peto
 
Horses for courses bt, good to hear your positive comments on Berkeley which are of interest. Coms become increasinly important as your tick size moves decrease. Even spreadbets could work for swing traders.
ER2 is an interesting animal!

pete
 
IB new rates effective Nov 1st

Stocks*: $0.005/Share (all-in)
Options*: $0.75/Contract (all-in)
Futures: $0.25 to $1.20/Contract (plus exchange costs)
Forex**: 1 to 2 PIP wide EUR/USD spreads

*$1.00 minimum on all orders, no extra ticket charge
** Whereas other brokers inflate their forex spreads with more than their fair share for commissions, IB quotes the best bid/offer from multiple large banks and charges a separate 0.2 PIP commission on EUR/USD.
 
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If there is New rates from Nov. 1 st with IB,most other brokers would follow. The problem with IB they are very slow to answer the phone. and you cant have that if you want to get outof a bad trade, when ones platform goes down,
 
badtrader said:
If there is New rates from Nov. 1 st with IB,most other brokers would follow. The problem with IB they are very slow to answer the phone. and you cant have that if you want to get outof a bad trade, when ones platform goes down,

====================================================================

Bad T,
Well done for spking the truth! But unfortunatly most peeps dont believe the facts until they have got their taste of reality first. :cheesy:

Cheap rates = cheap/slow/bad service :cool:
http://www.elitetrader.com/vb/showthread.php?threadid=53285&perpage=6&pagenumber=8
http://www.elitetrader.com/vb/showthread.php?threadid=53285&perpage=6&pagenumber=9

Bull
Good brokers dont advertise heavily for punters! :LOL: :cool:
 
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