Futures Trading

[Mr. Charts]

Thanks to all of you for your supportive and kind emails. I'll get around to all of them over the next couple of days if I can. The personal intro to my Chicago friend means you are quoted fees lower than the published ones. As the pros amongst you know, fees are negotiable with most introducing brokers, though the ones I've mentioned are the lowest with the firm I deal with.
For anyone on advfn premium BB there is a relevant thread entitled "Trading FTSE" where there is some advice from pros
I will not enter into any debate on this thread. Frankly I have better things to do with my time than deal with accusations, so I shan't even read this thread again.
Glad to be of help and will reply to everyone asap
Mr. Charts

 

[junior 9]

I trade at Refco in the US. $ 10.00 Rt all inclusive. They have the PATS system which they call Refco Direct. The platform is fast. Service and broker are very good.

 

[just21]

Surprised no mention of www.interactivebrokers.com Ftse futures are £1.70 a side, euro demonited contracts euro 2.90 a side and eminis $2.40 a side. Havn't found anyone cheaper. They have their own java software and is very quick.

 

[junior 9]

IB does have very low rates, but they have no support desk. If their system goes down and your lucky enough to get someone on the phone they'll charge you $ 30 for using their broker to execute your order

 

[options]

I suppose the answer to that is to place a stop as you put the trade on.
Just had an e mail back from them because I was concerned about any time lag and the cut off issue.
Orders are not sent across the pond and back again for ftse futures. (As I had imagined). They are routed straight through from here.
They didn't say anything about the cut off problem though!
I also find the site heavy going on the information. (Too much of it.)
But I may well persevere with it.
And there shouldn't be any problems with a lag on the price feed as I first thought.
Will have to have a look at the demo later.

John

 

[just21]

Interactive brokers did have one hour of globex downtime last week. They have installed another globex line since. I have used them extensively for futures and us equity options and have not had any problems.

 

[options]

Thanks for the posts Just21. As I mentioned in an earlier posting, this is a good way to find the best deals around, and to get all the excess fat trimmed off.
We do have to suffer and put up with a lot rip offs; broker and trading wise in this country.
You never know, we might get proper L2 soon.
How long have you been using interactive? and are there any drawbacks that you can think of?

Cheers.

John.

 

[norgib]

FSA protection...or lack of it?

Hi

wouldnt a problem using cheap brokers like GDD and similar overseas based operations , be lack of financial protection if they do go down the swanny for whatever reason?

 

[just21]

I have been using interactive brokers for a number of years and have been very happy with them. They are rolling out a mutli-currency futures account soon so you will not need one account for each product/currency. They are the 31st biggest security firm in america and were recently rated the safest place to keep your money out of all us brokers, see their website for further details. This is because their prop trading subsidary made $507 million dollars trading delta neutral option pairs on world exchanges last year.

 

[options]

Just signed with them and waiting for funds to go on account.

 

[norgib]

me too