Directional
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Depends what you mean by "best" and "bureau", but assuming you mean a pro traders arcade and since an arcade traders biggest overhead is commissions, the answer to your question is probably the Traders Clearing Alliance because they operate "at cost" and are cheaper than any other arcade I've heard of.
Unfortunately i have never heard of them, how long have they been in business.
By Best - that means the place to trade that gives you the best chance of success. Cheap cheap clearing usually means crap service in my experience. I want to know who is really switched on to the market - who is offerring something that is truly worthwhile and frankly who is better than the rest?
By Best - that means the place to trade that gives you the best chance of success. Cheap cheap clearing usually means crap service in my experience. I want to know who is really switched on to the market - who is offerring something that is truly worthwhile and frankly who is better than the rest?
Directional
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I'm at Refco's offices on Bishopsgate. They have nice facilities here, recreation playroom, sandwich restaurant on the floor, free tea/coffee on tap, analyst and squawk services, good IT etc, about to introduce a concierge service. Cant really comment on anywhere else.
Depends what you want. I'd sooner pay lower costs. The TCA are based at Fortis Bank's offices just down the road here.
Can you give an example of what you mean by "cheap clearing usually means crap service"? I've never heard of that being the case, since in order to do genuinely "cheap clearing" you have to be doing massive volume, which you wont do with crap service.
Depends what you want. I'd sooner pay lower costs. The TCA are based at Fortis Bank's offices just down the road here.
Can you give an example of what you mean by "cheap clearing usually means crap service"? I've never heard of that being the case, since in order to do genuinely "cheap clearing" you have to be doing massive volume, which you wont do with crap service.
Im very surprised. The important thing is the quality - if you have analyst sqwawks, good IT why go to somewhere no ones ever heard of. Give them atleast 18 months to get a reputation before even considering such a move. I promoise you, cheapest is always for cheapskates.
The best traders always go for the highest quality in everything they do.
The best traders always go for the highest quality in everything they do.
Directional
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well, with the banks infrastructure at Fortis I doubt there will be much lacking. Remember that probably more than half of the UK arcades clear their trades through Fortis.
Look at it this way - for 20,000 roundtrips on LIFFE i'll be paying £0.74 at Refco, where at TCA/Fortis I'd be paying £0.64 - thats a difference of £2000 a month, for what?
I just want my trades cleared in the fastest, most reliable way possible - after that prime requirement, it all comes down to cost, I'd sooner that £2k be in my pocket, it isnt chump change after all, and my trades are paying for it.
Who do YOU think is the best Bureau out there, and why?
Look at it this way - for 20,000 roundtrips on LIFFE i'll be paying £0.74 at Refco, where at TCA/Fortis I'd be paying £0.64 - thats a difference of £2000 a month, for what?
I just want my trades cleared in the fastest, most reliable way possible - after that prime requirement, it all comes down to cost, I'd sooner that £2k be in my pocket, it isnt chump change after all, and my trades are paying for it.
Who do YOU think is the best Bureau out there, and why?
alpha_monkey
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bundbaby said:
fist.
Well i am looking for a new bureau hence the original question.
I dont want to be part of a Dealers alliance i am big enough and bright enough to take care of that myself. I am not cost obsessed. I will make make many times the figure you suggest on just one trade from the right information and environment.
Costs constantly come down - let that plus a little negotiation take care of itself.
Like I said ALL THE BEST TRADERS look for THE BEST QUALITY.
So I am asking anyone with a view where can i get the quality????
So far it seems Refco are streeks ahead
ps: just called Refo and you are well out of court with your figures!!!!!!
I dont want to be part of a Dealers alliance i am big enough and bright enough to take care of that myself. I am not cost obsessed. I will make make many times the figure you suggest on just one trade from the right information and environment.
Costs constantly come down - let that plus a little negotiation take care of itself.
Like I said ALL THE BEST TRADERS look for THE BEST QUALITY.
So I am asking anyone with a view where can i get the quality????
So far it seems Refco are streeks ahead
ps: just called Refo and you are well out of court with your figures!!!!!!
Directional
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well if £24,000 a year in extra costs for essentially the same service doesnt matter to you as a businessman then bully for you, that is just fine by me 
Please be more specific, I am quoting from Refco's volume scaled commission list excluding rebates.
Please be more specific, I am quoting from Refco's volume scaled commission list excluding rebates.
A Dashing Blade
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Before mouthing off and coming accross as the big "I am", perhaps you could tell us the reason for your enquiry as your statements "Well i am looking for a new bureau hence the original question" implies that you're already trading in an arcade while "Unfortunately i have never heard of them, how long have they been in business" (about Traders Alliance) contradicts this.
Directional
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my thoughts exactly Dash
Hi Dash / Arbitrageur.
I have never heard of them. My original question was which is the best arcade? All I keep being told is which is the cheapest.
I just keep repeating myself here. I hear good things about Refco. Kyte too are led by successfull traders. There are many others and i would like some valid opinions. I want to know who is adding value to give me a better chance of being successful. Sorry if you guys cant understand that its not all about cheap clearing.
Please can someone on T2W give me some good advicee on trading arcades that offer traders some real quality
I have never heard of them. My original question was which is the best arcade? All I keep being told is which is the cheapest.
I just keep repeating myself here. I hear good things about Refco. Kyte too are led by successfull traders. There are many others and i would like some valid opinions. I want to know who is adding value to give me a better chance of being successful. Sorry if you guys cant understand that its not all about cheap clearing.
Please can someone on T2W give me some good advicee on trading arcades that offer traders some real quality
Try talking to REFCO, FUTEX and LEAGUE.
They are head and shoulders above the rest.
They have analysts, economists, training shemes etc etc.
But most importantantly are led by some of the biggest and most succesful traders in the UK (most other places are led by wannabes)
They are head and shoulders above the rest.
They have analysts, economists, training shemes etc etc.
But most importantantly are led by some of the biggest and most succesful traders in the UK (most other places are led by wannabes)
Mint Futures
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Hi BundBaby,
Can't answer you question on what is the best Trading arcade in the UK, as there are far too many. but I think what is important is what can they offer YOU on a case-by-case basis...... Everybody needs something a little different. Clearly most of the monkeys on hear thinks low RT costs make you a better trader...... Granted if it affects your bottom line, and puts more cash in your pocket. Then you could argue this makes you a more successful trader........... But I think if you know what you need to improve your style of trading your half way there!!!!
I have been to some of the "Best/Biggest?" Arcades in London, and they all offer different things. But recently I have gone full circle and have ended up back at the place I started my trading career. And I think what they offer now, compared to what they did 5 years ago, is the ability to adapt to the ever changing environment, which to me proves they are committed to keeping the client one step ahead of the rest.
Can't answer you question on what is the best Trading arcade in the UK, as there are far too many. but I think what is important is what can they offer YOU on a case-by-case basis...... Everybody needs something a little different. Clearly most of the monkeys on hear thinks low RT costs make you a better trader...... Granted if it affects your bottom line, and puts more cash in your pocket. Then you could argue this makes you a more successful trader........... But I think if you know what you need to improve your style of trading your half way there!!!!
I have been to some of the "Best/Biggest?" Arcades in London, and they all offer different things. But recently I have gone full circle and have ended up back at the place I started my trading career. And I think what they offer now, compared to what they did 5 years ago, is the ability to adapt to the ever changing environment, which to me proves they are committed to keeping the client one step ahead of the rest.
Directional
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If you treat trading as a business, then of course your transaction costs should feature as a major part of your considerations about where to trade and who to clear through. Low or high fee's wont make you a better trader, if you suck at trading you will lose money whatever you pay.
If you scalp for single ticks with size however, the lower your transaction costs, the bigger your profit margin is going to be. If you employ a different approach then transaction costs may not be such a big deal, but they must be part of the deal otherwise why arent you just paying Interactive Brokers rates?
what does your arcade offer you now that they didnt offer before that you feel helps make you a better trader?
If you scalp for single ticks with size however, the lower your transaction costs, the bigger your profit margin is going to be. If you employ a different approach then transaction costs may not be such a big deal, but they must be part of the deal otherwise why arent you just paying Interactive Brokers rates?
what does your arcade offer you now that they didnt offer before that you feel helps make you a better trader?
TWI
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I can recommend the Traders Alliance and Trading Connections. I know the guys at each of these places and can vouch for their ability, competence and reliability.
If you join Traders Alliance you effectively become part of the company as the traders share the actual costs. The company does not make a profit and everybody gets the same costs. New business, new concept, that is why a few people may not have heard of them yet. I think most people will before long.
The guys at Trading Connctions are x-Liffe locals and train people in the STIR spreads. I think their grad program is as good as it gets. This of course does not mean everybody is successful.
If you join Traders Alliance you effectively become part of the company as the traders share the actual costs. The company does not make a profit and everybody gets the same costs. New business, new concept, that is why a few people may not have heard of them yet. I think most people will before long.
The guys at Trading Connctions are x-Liffe locals and train people in the STIR spreads. I think their grad program is as good as it gets. This of course does not mean everybody is successful.
