IB vs Mirus Futures/Zen-fire

[sub5mango]

Hi

I have been paper trading the ES for 4 months using zen-fire/mirusfutures/ninja-trader and esignal. I am based in the UK.

I want to go live. I will continue to use esignal for my charts and ninja-trader to execute my orders and only trade the ES.

However I am not sure which broker to use - Mirus or IB?

Any recommendations would be welcome.

Key concerns for me are (in no particular order):
1. Reliability of data feed
2. Speed of order execution
3. Insulation from exchange rate moves, affecting my capital
4. Safety of my capital (in the current financial crisis)
5. Cheapness and ease of transfering money from my trading account to a UK bank account
6. Contactability should things go wrong with a trade

nb ps for mirus, any thourghts on which is best - Rosenthal Collins Group and Dorman Trading?

Thanks in advance

 

[chilltrader]

Hi

I have been paper trading the ES for 4 months using zen-fire/mirusfutures/ninja-trader and esignal. I am based in the UK.

I want to go live. I will continue to use esignal for my charts and ninja-trader to execute my orders and only trade the ES.

However I am not sure which broker to use - Mirus or IB?

Any recommendations would be welcome.

Key concerns for me are (in no particular order):
1. Reliability of data feed
2. Speed of order execution
3. Insulation from exchange rate moves, affecting my capital
4. Safety of my capital (in the current financial crisis)
5. Cheapness and ease of transfering money from my trading account to a UK bank account
6. Contactability should things go wrong with a trade

nb ps for mirus, any thourghts on which is best - Rosenthal Collins Group and Dorman Trading?

Thanks in advance

Am new to DMA as well... but from what I've been hearing the name "Rosenthal Collins Group" seems to be sung out a lot.

 

[Chuck_T]

eSignal

sub5mango,

eSignal supports integrated trading with IB and will have support for Murius / Zenfire in the 10.3 release that will go gold shortly in January, so you know.

Chuck

 

[Adamus]

You can't have your (3). Unless you've found some new currency that is ultra-stable for your trading account currency.

With IB, your (5) was relatively painless, they have a UK bank account.

Don't know about (6) - on my list of things to find out.

 

[pippero]

to insulate from exchange rate moves, put a small part of you bankroll at a forex broker and hedge your usd exposure.. you could do this at IB because they have forex trading as well -- but i'd still pick mirus futures, mostly because IB offers no intraday margin..

 

[sub5mango]

thanks for the comments guys,

just checked with IB and they need $10k to open account - not there yet, so that narrows it down.

 

[bennie83]

I am a UK resident and am considering opening an account with a US broker. So if I fund my account with sterling do they convert it to dollars or do they hold it in sterling. I am worried that the dollar is going to decrease in value further.

 

[Hittfeld]

I am a UK resident and am considering opening an account with a US broker. So if I fund my account with sterling do they convert it to dollars or do they hold it in sterling. I am worried that the dollar is going to decrease in value further.

Just as you like: You can change your "base currency" anytime. More details at

http://www.interactivebrokers.com/en/accounts/universalAccount.php?ib_entity=llc

Hittfeld

 

[Hittfeld]

thanks for the comments guys,

just checked with IB and they need $10k to open account - not there yet, so that narrows it down.

For youngsters, students and customers of introducing clients it is less! Otherwise I heard (but never tried myself) about a "poor traders trick": Open the account, when you get approved for funding you must fill a notification form, do that with 10K, do another one with 5k, send the 5k, cancel first transfer! Used to work with any sum above 2k, but what could go wrong?

Regards

Hittfeld