commissions easy2

options

Senior member
2,374 218
Just a brief word for anyone who trades the ftse future.
Our very own Chartman has used some muscle to negotiate a discount for members of trade2win if they deal through Easy2trade. (www.easy2trade.com)
Instead of the commission charge of £4 per side. It's now £3.60. for us. (It all adds up)

Much tighter spread then what the spreadbetters currently offer, (you are liable to the tax man though, but still beats the hidden costs associated with the spreadbetters.)
Quick fills with good software, but with a minimum of £10 per point.
Does anyone know of any better deals out there?
 

ChartMan

Legendary member
5,580 46
I've been meaning to post about Easy2Trade's trading system, but it kept slipping my mind :(
I trialled the system a few weeks ago and had great fun.I subscribed to AIQ's FTSE futures so that I could get accurate charts to play with. It took a while to get used to things, but when I did, it was a hoot! Unlike other dealing companies, this company deals "direct to market"- you are your own MM.Their basic system showed a simplified Level 2 screen with a depth of 10 on each side.This helped in cross correlating what was going on with the charts. Further, I was able to place my orders right in the middle of the spread and watch it get filled as the market moved. Very exciting.I tried various order sizes from 1 to 100... single bets were filled in a flash I can't say exactly how quick, but a fraction af a second. Orders for 100 took varying amounts of time, depending what value I put on the order, relative to the dib/offer. Inside the spread, they took longer to fill. As I moved the order towards the "wrong side", they got filled immediately, as you would expect. When you consider what happens with other companies as they move the bid/offer as the futures move, or depending on their own profit/loss position at any given time ( we all know who they are :) ), making it impossible to scalp,even on the dow, this was a most pleasurable experience. We all know it's almost impossible to scalp anything less than a 30 point move on the DOW,well, you would be able to do it with this platform, albeit the FTSE futs. They do plan to have in the new year, Dow Futs ( and others I believe).
For T2W regulars, we have negotiated a small discount on their fees, currently £4.00 per side.( non-discounted). The downside is that you will need deep,deep pockets to take advantage of this platform. There is no margin or leverage on these accounts, so to trade 1 FTSE, you would need at least £5,000 in your account. Trading 1 FTSE means you have an "effective spread" of 8 points, bringing it into line with spread betting, but without the movement in bid/offer relative to the "cash value" or "real chart value". I would think that you would need to trade at least 5 -10 units to minimise the effect of £8.00 per round trip. For the mathematically disadvantaged among us (hehe) playing 8 units means you have to get in and out at +1 to break even.+2 gives you £8 profit etc. A 20 point move will give you a net £152 profit. When they offer the DOW futs, the numbers may change. £8 round trip on the DOW would mean you need to make +12 points on a single unit "order".
In conclusion- great software, direct to market, and "relatively" easy to get it right, insofar as you aren't battling agaist "moving goalposts". You DO need a deep pocket though, so it's not for "the casual trader with limited funds". They offer a free trial of their software for 1/2 days. IF you want to trial it, make sure you have the charts for the FTSE Futs available to you, and ask for a "clear account" so you know your starting balance is zero- it's much easier to see how you have done. As a final note, their " pending orders and positions" are updateed immediately.None of this half hour lagging behind. So when you get in a tizz, you can immediately see you "net positions"
 
 
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