best broker

bored

Junior member
28 0
Some advice on the best broker for ftse futures please.
I recently closed an account with Mann, who were charging £12 per round turn(using direct access) I know there are many cheaper alternatives. I am considering GNI, but am also looking at IB
I've just been reading about Tsim and am leaning towards using this, so IB would then be my choice.
Your comments on brokers and Tsim would be welcomed

Thanks
 

waytogo

Active member
162 0
Hi

I trade ftse futures through Easy2trade. Still a bit expensive at £8 a round turn, but they seem to be very reliable and I like them a lot.

Waytogo
 

Henry

Active member
177 2
Bored, I would be careful using TSim (or indeed any IB add-on) to live trade FTSE Futures with IB, as there are problems with IB's API and the LIFFE data feed which means fill prices are not always reported back correctly. No probs using simulation only mode. I've asked IB's developers about this, but as usual they are not quick to come back with a response (took them a year to fix a similar problem with Eurex data).

As far as IB as a broker goes, I'm happy with them as long as I never have to talk to them :)

Henry.
 

Miki

Member
98 1
And if you do manage to talk them – sometimes you wish you hadn’t.
:)
 

JonnyT

Senior member
2,560 22
Hi Henry,

The workaround for the FTSE problem is easy to code and in my experience Full Proof

i.e if number less than 100, multiply by 100 else leave alone.

I do agree that IB should fix this ASAP.

JonnyT
 

bored

Junior member
28 0
Thanks for all the replies
Henri/miki I was just going to use tsim for simulation only, so that should be ok. I,m a bit worried about your other comments though. Whats the problem with talking to them,. If the connection goes down , how good are they at responding over the phone to get me out of a position
 

Halo

Active member
136 0
I also have an account with Man,
I use J-Trader for Eurex Bond and Index futures.
The commissions are pretty high (my low volume rate is around 12€ a round turn.... but... I must admit the service is not bad (online statements etc etc) and the trading system has not been down in about 2 months... (he says fearing that he has just tempted fate with a position on and 6 orders in the market .Doh!)

If you're happy with the service and trading platform at Man maybe try pushing for lower commissions..
 

Miki

Member
98 1
“If the connection goes down, how good are they at responding over the phone to get me out of a position”

Bored, with each trade I enter STOP order immediately – cheaper, faster and less stressful than a phone call to IB.
 

Halo

Active member
136 0
Actually.. took all of three seconds to give this some thought.. and now I'm ready for a rant.

Just to add some clarity to the brokers charges:

Exchange fees are inncluded in your charges, for LIFFE they are about 1.50 per round turn (correct me if i'm wrong) and Eurex they are roughly similar. I think the software provider may charge a small fee 0.50c and they also charge a fee for the ability to see market prices (Although the exchanges don't actually charge them for the prices you get in direct access as you're using them to trade).

NOW I'm getting myself worked up...

Considering we're all using direct access systems and bashing away at our own risk they're actually creaming it big time... I bet their broking desk has a healthy Drug Wars league as they all have so much time on their hands..


I withdraw my previous conciliatory comments about service and nice things like that.. I want lower fees. In fact, come May Day I may get dressed like Swampy and sit outside Sugar Quay (Man's building) with the (other) pikeys protesting that I'm paying too much for their narcotics consumption and Thursday night jollies.

DOWN WITH FEES. UP WITH Skirts.
 

Halo

Active member
136 0
Hi Oatman,
not directly but a former colleague of mine got some really competitive pricing from them a few months back. Pats' also gave me a contact there so it may be time to give him a call....

How do you find the system reliability there - I've noticed that the same system in different hands can have varying degrees of stability..

Cheers
 

oatman

Senior member
2,879 22
Hello Halo,

I haven't had any real problems. They're helpful if you do get a problem. I recommend.

Good luck,
 
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