Anyone recommend a UK broker?

[metaron]

Hi folks

Does anybody have any recommendations for a UK futures broker solely for trading the FTSE 100? I would only be trading 50-100 round turn contracts a month at the most.

So far one broker has quoted me £4 one way with a minimum transaction charge of £200 a month for patsystems j-trader.

M

 

[laptop1]

Hi folks

Does anybody have any recommendations for a UK futures broker solely for trading the FTSE 100? I would only be trading 50-100 round turn contracts a month at the most.

So far one broker has quoted me £4 one way with a minimum transaction charge of £200 a month for patsystems j-trader.

M

Have you tried Berkeley Futures based in London.Futures broker options brokers

 

[metaron]

Have you tried Berkeley Futures based in London.Futures broker options brokers

No but I shall go and check them out, thanks.

I've just spotted interactive brokers prices which look good, if I went with them do I use their software to trade futures at no extra cost?

 

[73sand]

I.B. have a platform that you can use to execute trades and provide a data feed but you will have to sort out a charting package.

 

[ICM Capital]

ICM Capital: Foreign Exchange | CFD Trading | Indices | Online Trading UK

FSA Regulated

also currently running a free 100USD promotion for all new clients

Tight spreads as low as 1.6 pips
Various account classifications with different leverages
Trade various asset classes with great liquidity
Trade the major currency pairs and CFD's with one account
Instant Execution
No Swap on frequently traded accounts
Zero Commission on FX and CFDs
Dedicated Multilingual customer service support team
No Maintenance margin; no margin call
Strategic business partnership programs
Mobile Trading

 

[Mr O]

If you're trading size then try kyte group

 

[apau]

I have been trading with Hartmann for a while, they gave me J-Trader for free and also charge £4 a lot on ftse and I don't think they have any minimums (well none that they have told me about) but had no premiums on margin which was a massive help to me recently.

I think kyte would need quite large size, good luck finding a futures broker, let us know who you go for, as we all need back ups.

 

[mike8man]

Hartmann Capital

I have been trading with Hartmann for a while, they gave me J-Trader for free and also charge £4 a lot on ftse and I don't think they have any minimums (well none that they have told me about) but had no premiums on margin which was a massive help to me recently.

I think kyte would need quite large size, good luck finding a futures broker, let us know who you go for, as we all need back ups.

It appears that the Administrators/solicitors/accountants/Council/FCA/FSCS are making a right pigs ear out of closing Hartmann, no doubt to the cost of Hartmann's clients. Anyone else affected?

 

[apau]

It appears that the Administrators/solicitors/accountants/Council/FCA/FSCS are making a right pigs ear out of closing Hartmann, no doubt to the cost of Hartmann's clients. Anyone else affected?

Wow, I had forgotten I had written on this thread.

Real shame that Hartmann went into Admin, was really enjoying trading there, the guys were superb.

So far, the desk has kept me up to date so the lack of info from administrators hasn't really bothered me. I will be following them wherever they go as I feel the service has been top notch which is a real rare thing nowadays.

Mike, are you affected in anyway?

 

[mike8man]

Yes, I am affected both because I don't know how much I'll get back as the admin costs etc of closing are unknown and at up to £400/hr the charge will not be cheap and secondly I can't use that money in another broker until I get it back, so loosing even further profit!

 

[apau]

Yes, I am affected both because I don't know how much I'll get back as the admin costs etc of closing are unknown and at up to £400/hr the charge will not be cheap and secondly I can't use that money in another broker until I get it back, so loosing even further profit!

Depending on how much money you had in your account, the fscs should cover the deficit (well with the numbers being said they will in my case). What did you trade there?

 

[mike8man]

Sorry, just seen your reply. The FSCS will only meet any losses incurred by a broker up to the date that the FCA effectively closes them down. The FSCS definitely will not pay any costs incurred by an administrator after that date nor any losses on any equities between the Primary Pooling Event (the date that the FCA closed them down) and the months later that you can transfer them to another broker. Further, the FSCS will not cover any losses caused by closing options at the PPE date rather than letting the options, in my case, run to worthless expiry. In reality, the client has to pay the Administrators costs prior to them releasing the funds to the client - known as ransom or blackmail in my book!

 

[apau]

Sorry, just seen your reply. The FSCS will only meet any losses incurred by a broker up to the date that the FCA effectively closes them down. The FSCS definitely will not pay any costs incurred by an administrator after that date nor any losses on any equities between the Primary Pooling Event (the date that the FCA closed them down) and the months later that you can transfer them to another broker. Further, the FSCS will not cover any losses caused by closing options at the PPE date rather than letting the options, in my case, run to worthless expiry. In reality, the client has to pay the Administrators costs prior to them releasing the funds to the client - known as ransom or blackmail in my book!

Sorry, I was not referring to admin costs, i was referring to the difference from when FCA closed and the deficit at the company.

I have heard that you may be able to offset any administration fees against capital gains.

 

[neil]

Hi folks

Does anybody have any recommendations for a UK futures broker solely for trading the FTSE 100? I would only be trading 50-100 round turn contracts a month at the most.

So far one broker has quoted me £4 one way with a minimum transaction charge of £200 a month for patsystems j-trader.

M

Try https://www.interactivebrokers.co.uk/en/main.php

 

[mike8man]

Yes you are right in that there was a 6% shortfall in client funds which should be refundable by the FSCS. BUT the admin costs, to be paid by the clients before they get any money from the company, now being run by the administrators, will be a significant cost.

Thanks for the CGT comment, I hadn't thought of that.

 

[hood]

AMP Futures

Amp Futures are US based but their commision is low for Z (FTSE100 FUTURES).
$2.50 for a roundtrip. Ask them for a quote.