Reasons not to use Mirus Futures, Rosenthal Collins Group

This is a discussion on Reasons not to use Mirus Futures, Rosenthal Collins Group within the Direct Access forums, part of the Commercial category; Originally Posted by eurotrader1 Cheers guys. Would be nice if a UK or European broker offered the same sort of ...

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Old May 1, 2009, 6:40am   #9
 
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Originally Posted by eurotrader1 View Post
Cheers guys. Would be nice if a UK or European broker offered the same sort of pricing and services as available through US based brokers. Would really prefer to keep my account and trading local rather than sending money abroad with attendant forex issues etc. Spoke with someone at BFL recently and the arrogance/conceit put me right off. If anyone is aware of any other European brokers would appreciate hearing.
Try Alpari
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Old May 31, 2009, 4:25pm   #10
 
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Yeah .. RCG sucks when it comes to statements. Their system is primative comparatively. Other than that its fine.
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Old Jun 5, 2009, 6:14pm   #11
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I'm in exactly the same position. I am looking for a cheap broker that deals in the markets I'm interested in. Cheap brokers don't seem to exist in Europe/UK - they are sooo expensive. I have the same dilema about sending my money to US because of the cheap brokerages. So I'm looking for security and good rates. My short list is (in order, based on various criteria, i.e. cost, service, security etc):

1.RCG
2. Mirus
3. Velocity
4. Infinity
5. Amp
6. Open E-Cry
7.Tradestation
8. Interactive Brokers
9. Activ

Have I picked any duds?
How are users of Mirus or RCG getting on?

Thanks everyone.
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Old Jun 6, 2009, 2:23am   #12
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Previous posters have been positive about Mirus and they were recommended to me by my mentor as well. Haven't switched yet as I'm still trying to find a European/UK based broker. Only one I've come up with in the UK so far has been BFL but they are still more than double the price than what I currently pay. For example, for the DJ Euro Stoxx 50 BFL quoted me 5.50 round turn, my current broker is 2.40 round turn. These are the sort of rates our own European/UK brokers should be offering yet they still seem happy to loose business to the US. I put it down now to either arrogance, disdain, or a complete lack of interest for the average retail trader.
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Old Jun 6, 2009, 10:40am   #13
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Originally Posted by eurotrader1 View Post
Previous posters have been positive about Mirus and they were recommended to me by my mentor as well. Haven't switched yet as I'm still trying to find a European/UK based broker. Only one I've come up with in the UK so far has been BFL but they are still more than double the price than what I currently pay. For example, for the DJ Euro Stoxx 50 BFL quoted me 5.50 round turn, my current broker is 2.40 round turn. These are the sort of rates our own European/UK brokers should be offering yet they still seem happy to loose business to the US. I put it down now to either arrogance, disdain, or a complete lack of interest for the average retail trader.
I trade ftse future and my current UK broker charges 8 round turn. For the S&P emini $12. I am not putting up with this now. Seriously I don't know how they do any business. Amp Futures (US) have offered some great rates, so they have climbed up my shortlist.
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Old Jun 6, 2009, 11:26am   #14
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I trade ftse future and my current UK broker charges 8 round turn. For the S&P emini $12. I am not putting up with this now. Seriously I don't know how they do any business. Amp Futures (US) have offered some great rates, so they have climbed up my shortlist.
Agree with you 100%. I firmly believe UK brokers aren't interested in the average retail trader but prefer to target the professional and/or large lot traders instead. I currently use Futurepath Trading based in the US. It is their fees I quoted in my previous post. Mirus charges 2.24 round turn for Euro Stoxx 50. Unfortunately neither one offers the FTSE, which I'm interested in as well.

Berkeley Futures (BFL) quoted me 2.50, per lot, per side inclusive of exchange fee for the FTSE future.
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Old Jun 6, 2009, 12:14pm   #15
 
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try www.interactivebrokers.co.uk
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Old Jun 6, 2009, 1:24pm   #16
zoo
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Originally Posted by eurotrader1 View Post
Agree with you 100%. I firmly believe UK brokers aren't interested in the average retail trader but prefer to target the professional and/or large lot traders instead. I currently use Futurepath Trading based in the US. It is their fees I quoted in my previous post. Mirus charges 2.24 round turn for Euro Stoxx 50. Unfortunately neither one offers the FTSE, which I'm interested in as well.

Berkeley Futures (BFL) quoted me 2.50, per lot, per side inclusive of exchange fee for the FTSE future.
Hi Euro & Bennie, Mirus do offer FTSE future, they've quoted me approx 2.95 a round turn! Compared to 8 a round turn with my current broker!!! When I went with my current broker a few years ago I was not clued up on anything. I reckon UK/European brokers rely on uninformed traders like I was back then in order to do business. I tend to do 10 RT trades per day. With my current broker its 80 in commissions! So, with Mirus it would only be 29.95, that's a saving of 50.05 per day! That has to be the way to go.
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