Day Trading & Forex Forum

c_c405

Hello folks

I'm new to this site and I used to trade base metals with a good level of success. For the past several years I have been trading forex predominantly with a little silver and gold but my forex broker does not offer base metals

Can anyone recommend a solid broker for spot trading of copper, lead, zinc, nickel & aluminum?

If this is the wrong section please accept my apologies for my err.

I have already looked at Interactive Brokers but I'm not liking the looks of their platform. Are there any solid alternatives?

Cheers
CC

ahardy66

spot trading of base metals? you don't mean futures?

Surely LME offer a list of well known brokers?

__________________
Adam

c_c405

LME? Don't know who that is

I used to trade through a broker - He is no longer in the biz as he retired.

I've never traded them personally so if they are futures then cool - I will check out some futures brokers - was hoping that there would be a spot broker similar to spot gold and silver trading

ahardy66

London Metal Exchange

but no gold, and no spot market. For gold etc you'd want to check out the NYMEX markets NYMEX.com: Gold

Did you trade spot metals? Who did you trade with? Didn't you have to pay large amounts of cash up front, and also pay warehouse fees?

Knew a Russian guy, some crazy guy on the run from the Moscow mafia, who traded physical sugar. He bought tons and tons of it over Compuserve by email and had it stored up wherever temporarily until he flogged it again. He then put the money in Deutsche Bank and kept swapping backwards and forwards between DM and USD, and eventually lost loads and disappeared.

I assume your set-up was slightly more dignified?

__________________
Adam

c_c405

Hi Hardy
Thanks for the pointers to the sites
Firstly I never actually traded them - I simply told the broker to "buy me some copper" he would take care of it all and he would do as I instructed - So I'm kinda newbie with it as he's retired and I must learn to do it for myself - not a biggie I like learning - just have never traded futures myself -

I have a forex broker who offers spot gold and spot silver but no base metals

So I guess I'll submit myself to knowledge from anyone who knows where I should start and can point me there to begin. I've been forex trading for quite some time and know nothing of commodity futures for metal or anything else

I was thinking if gold and silver were available on spot that maybe base metal may be as well somewhere.

if not then I was foolish to think it would be so available

Is there an encyclopedia for base metal?

adamscj

I'm not sure what your exact requirements are, but if you're looking to trade base metals plus gold.silver at relatively cheap comission then you could look at spread betting firms such as IG Index Commodity Spread | Trading Markets

__________________
Hedging is for gardeners

c_c405

I'm not sure what spread betting is but I will check them out
Looking for easy trading of base metals - don't know much about the trading of them -

Cheers
Thanks

ahardy66

Which is best for you will depend on your capital. If you have 30 or 40 grand or more to play with, futures would be better than spreadbetting. but it depends on the leverage you want.

__________________
Adam