Best Broker for Oil Futures

comtrader

Newbie
1 0
Hi guys

Relatively new oil trader here - have some experience trading CFDs and spreadbetting but I feel now is the right time to move on to futures. Can anyone recommend a decent energy futures broker?

I'm looking for one geared towards the retail end of the market - cost is obviously a big factor and any broker with a demo version would be a bonus.

Cheers
 

SlowlyButSurely

Well-known member
324 38
AMP are good and accept UK clients. Ask to try out a demo of some of the platforms they offer. I use ninjatrader which is fast/reliable/customisable but sierra are also good if you use charts or profiling tools a lot.

Please bear in mind that futures is a different ballgame to CFD's and you'll be trading full size ots on exchange. I'm not sure how successful you've been in the past but make sure you are comfortable with your risk and size
 

Hate2Lose

Active member
155 3
Hi guys

Relatively new oil trader here - have some experience trading CFDs and spreadbetting but I feel now is the right time to move on to futures. Can anyone recommend a decent energy futures broker?

I'm looking for one geared towards the retail end of the market - cost is obviously a big factor and any broker with a demo version would be a bonus.

Cheers


Might be worth trying Berkeley Futures? Not sure whether they’re any good, but did know someone who used them.
 

LuKa12

Newbie
5 0
Hi guys

Relatively new oil trader here - have some experience trading CFDs and spreadbetting but I feel now is the right time to move on to futures. Can anyone recommend a decent energy futures broker?

I'm looking for one geared towards the retail end of the market - cost is obviously a big factor and any broker with a demo version would be a bonus.

Cheers

I traded CL futs with Interactive brokers for 2 years found them great. Low coms and a 1 cent spread 98% of the time.

You get a sim acc with your live acc.
 

jkane

Active member
128 1
AMP are good and accept UK clients. Ask to try out a demo of some of the platforms they offer. I use ninjatrader which is fast/reliable/customisable but sierra are also good if you use charts or profiling tools a lot.

Please bear in mind that futures is a different ballgame to CFD's and you'll be trading full size ots on exchange. I'm not sure how successful you've been in the past but make sure you are comfortable with your risk and size

that is massive difference..its huge too with margin requirements and leverage
 

Mattlock

Newbie
2 0
I highly recommend OpenECry...not sure if they changed their name to Futuresonline

Anyway an important thing is to see how they deal with margin calls. AMP automatically closes your position once your margin is hit. usually this results in you getting out at the worst time possible.

Used to use IB also but IB's margin requirements are very high in general and they also have the same issue regarding margin calls

oil's a damn fierce beast, beware!
 

TWI

Senior member
2,531 252
Be careful out there. I do not know your background but the mere fact you are asking this question suggests you have not been trading energy products for long. If you are not aware of exactly what leverage you are taking by trading futures and if you are unclear about the implications of contango and backwardation in the forward curve, I suggest you stay away until you feel very at home with these concepts. Otherwise, good luck.
 
 
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