FAQ Can You Recommend a Data Feed, Charting Software & Broker?

Oct 15, 2005
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#16
In these troubled times shouldn't we be looking for a broker who will still be around in a couple of months. I guess we will forget very quickly about service and fees when your principal is gone.

Just a thought

Good luck all

Den
 
#18
New Traders Beware:

Several of my Traders friends have posted their " NOT Recommended" comments on ET Forums for a Forex/Futures Broker: AMP Trading (n) and they noticed that ET keeps deleting them and only posting the good comments. They did not even get any feedback from ET Administration for their actions! :-0

This is clearly a very bad business practice and a violation of their own Forum rules.

This is another good reason why T2W is the best most professional forum and can't even be compared to the lower standards of Elite Trader Forums,
 
Jan 25, 2009
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#20
Re: I'm looking for a good broker/software platform/data feed, can you recommend one?

hello guys,

nice to be here.. i am an aspired options trader, and hopely i could finance my post-grad studies within 1 yr.. my goal is to get USD66K.

still reparing my loss now..
:LOL:LOL...yeaachhh...sure...your username says it all
 
Jun 14, 2010
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#21
Re: I'm looking for a good broker/software platform/data feed, can you recommend one?

I'm wondering if anyone has managed to set up an RSS feed or alternative data source to a paid-for brokerage service. Is it worthwhile trying to amalgamate data from various sources through an RSS for day-trading or would I be more likely to miss out on data/news releases which would be provided more efficiently by a professional service?

Cheers.
 
Jun 20, 2010
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#22
Re: I'm looking for a good broker/software platform/data feed, can you recommend one?

i found a good site that reviews binary option platforms and give good advice on trading it's called binarytradecenter.com
 
Nov 24, 2010
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#23
It's a little bit tricky to chose a broker best for you. There's a bunch out there.

You can try LucrorFx, a New Zealand brokerage, NDD, MT4 platform, 100:1 leverage.

They accept US clients too.

Good Luck!
 
Feb 20, 2009
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#24
I think that the best feed+broker+price that I have found are here: Optimus Trading Group. I have been trading NinjaTrader+Rithmic for quite some time. But, I think I will also consider MultiCharts with Rithmic because of it has easy language programming capability.
This is not a platform for beginners, IMHO, maybe an intermediate to advanced.
Here is a page for the demo http://www.optimusfutures.com/multicharts-platform-demo.html

I have found this video today as I subscribe to this guy highprobabilitytrading channel.

It's the weekend! :clap:
 

timsk

Well-known member
Mar 18, 2002
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#25
The video posted above by zmark-trader is helpful - up to a point. There are a number of reputable futures brokers not included which means that the comparison is not comprehensive. More importantly, the advertised commissions listed are much lower than a trader would actually have to pay in reality - as exchange fees and NFA fees are not included which, very roughly speaking, will double the round turn (RT) prices quoted in the video.
 
Feb 20, 2009
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#26
The video posted above by zmark-trader is helpful - up to a point. There are a number of reputable futures brokers not included which means that the comparison is not comprehensive. More importantly, the advertised commissions listed are much lower than a trader would actually have to pay in reality - as exchange fees and NFA fees are not included which, very roughly speaking, will double the round turn (RT) prices quoted in the video.
@timsk, Everything you said above is true. But, these are the commissions, and exchange fees are outside of it. No intelligent trader will buy into 75 cents commissions because the clearing itself on the ES is 1.14 per side. When making comparisons, those variables that are constant should not be taken into consideration. What I particularly like about the video that he made the commissions and feed cost factored as one. This was very helpful.

If you use the first example of the broker on the site, it's 75 cents a side, Plus 1.14 per side, plus NFA (1 cents), so your total is 4.00 RT and goes lower if you do more volume.


I think those of us that have traded a little and familiar with firm and ES pricing, this was very helpful.

If I find other material to help traders, I will post it as well.
 

timsk

Well-known member
Mar 18, 2002
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#27
Hi Zmark',
Yes, I agree with the points you make and, with the benefit of hindsight, I ought to have made them in my last post.

I was just a tad concerned that as this is a FAQ which is read mostly by new and inexperienced members, they could end up with a misleading impression about the cost of trading futures. The video assumes a certain degree of prior knowledge which some/many members won't have. Anyway, between us, no one can be in any doubt now! Thanks for the contribution and do please post any other useful material - as and when you find it.
(y)
Tim.
 
Feb 20, 2009
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#28
timsk, thank you for your help.
I will start, if time allows, a thread about futures trading this week.
In the mean time, I will address the one-off.

Ok, so as far as feed, I recommend RIthmic. RIthmic is very fast for execution and provides very accurate tick data. Also, I have spoken extensively about them with some traders, and they provide very stable infrastructure.
This is their site: http://www.rithmic.com/home.html

If you are trading overseas, you might have an issue with latency and execution.
I hear that some remote areas don't have good connectivity. For those who might experience that, I recommend to use a company like www.steadfast.net
Basically, you will host your trading platform with them and since they are also in Chicago like the exchanges, you will faster have faster access to the market.
Execution in trading is just as important as methodology.

Brokers: ok, this is subjective and you have to find someone who will have confidence in.
my recommendation is www.optimusfutures.com
They are competent, competitive, and provide fast service if I ever need them.
I have been with the "big boys", and essentially there is no advantage over the small and specialized shops, they provide better commissions and service hands down.

As for the platform, my choice is any platform supported by RIthmic feed.
But, I think most guys will either like NinjaTrader, or SierraChart.
I think the brokers I mentioned should have a demo for both.
Google "SierraChart Rithmic" or "NinjaTrader Rithmic"...I am sure you will find a demo.

For the love of...invest in a fast processing computer.
Dont run gazillion programs and your trading platform, sometimes it's better to have your platform on a little laptop for trading only.

Invest in your education. So much free stuff on the net, and in your book stores.
Read blogs like http://traderfeed.blogspot.com it's free and resourceful.

Hope this helps.

Zmark.
 
Likes: FringFX
Jan 4, 2011
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#30
If you're new to trading FX in general, don't forget to open a practice account with the broker you plan on using beforehand. This will allow you to familiarize yourself with your broker, their fees, and spreads. Not all brokers are created equal. Be sure to keep an eye out for brokers with large spreads that fluctuate depending on the session. Many brokers are crooks who seek to take the opposite side of the trade, meaning that it is in their best interest that you lose your trade, because this is how they make a profit.
 
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