Futures Daytrading Offset Settlements - Need Advice -

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Old Oct 27, 2008, 5:48am   #9
 
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Let us know what happens. Good luck.
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Old Dec 31, 2008, 12:09am   #10
 
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What was the outcome of this issue? Did the broker fix it or did you get burned for the $500? In any case, I hope you found a cheaper broker. I chewed my broker down to $4 RT.
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Old Dec 31, 2008, 12:26am   #11
 
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Yeah, I'm curious to know too. Hey FCB98292, how many cars are you trading a month? I can't remember for sure, but I believe transact will take you even lower.
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Old Dec 31, 2008, 1:02am   #12
 
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Well, I just started with a signal provider out of UT (smptradingsignals.com) and so far so good, but so I am not loading up the wagon yet. I normally trade a dozen, but I only trade once per day.. not much motivation for a broker to steal me from where I am now. I tried to call transact today about margins but their futures guy left at 3pm eastern time. At this point, I get $300 margins on the ES intraday, but I don't use that much leverage. I saw IB kicked their intraday margin up past $6,000... yikes!

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Old Dec 31, 2008, 1:08am   #13
 
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Transact is 500 intraday I believe. You'd want high volume at transact because they have like a four hundred dollar a month platform fee. So you'll be saving if you trade a lot, if not, well, you won't. I'll be starting with real money soon with infinityfutures.com. They clear through transact, so commission are about 4.80 round turn, but no fees at all, and really good customer service. They've got the trasnsact platform that I love and they're very fast.

I would like to know what happened to this man. He never posted again. Crazy commissions though! Ouch!
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Old Dec 31, 2008, 4:02pm   #14
 
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Thanks for the information. Sounds like I had better stay with where I am. I don't pay for anything but the $4 RT. I do recommend smptradingsignals, though.

I do hope that guy is still trading. I need his liquidity. Commissions like that can wear on you. I got my broker down to $4 inclusive and, for a retail trader, I think that's pretty good.
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