Which broker is best for scalping the FTSE100 or Dow futures - InteractiveBrokers(UK) or Prospreads?
Both offer DMA. I'm looking at how they compare in terms of the cost of trading.
With PS, this is 1.5 points per RT on the FTSE100 and 5 for the Dow, narrowing to 1 and 3 points per RT, respectively, after 100 RTs of £10, or 1 RT of £1000, etc. All stakes have to be in integer multiples of £10, on both the FTSE100 and Dow. I assume the unit is a single point, both on the FTSE100 and the Dow.
What's the cost with IB? I couldn't work it out at their website. It might be a flat rate of £12 per RT, if both sides of the RT are less than £50K? If so, that sounds pretty good, so long as the quoted market spread isn't too high. But if it's real DMA, then the typical market spread for the FTSE100 is only 0.5 points - am I right? So the cost with IB is about a third of what it is with PS? Is that right, or am I missing something?
And for the Dow Futures the cost is... ???
Thanks for any help with this!
Both offer DMA. I'm looking at how they compare in terms of the cost of trading.
With PS, this is 1.5 points per RT on the FTSE100 and 5 for the Dow, narrowing to 1 and 3 points per RT, respectively, after 100 RTs of £10, or 1 RT of £1000, etc. All stakes have to be in integer multiples of £10, on both the FTSE100 and Dow. I assume the unit is a single point, both on the FTSE100 and the Dow.
What's the cost with IB? I couldn't work it out at their website. It might be a flat rate of £12 per RT, if both sides of the RT are less than £50K? If so, that sounds pretty good, so long as the quoted market spread isn't too high. But if it's real DMA, then the typical market spread for the FTSE100 is only 0.5 points - am I right? So the cost with IB is about a third of what it is with PS? Is that right, or am I missing something?
And for the Dow Futures the cost is... ???
Thanks for any help with this!