NinjaTrader... Yay or nay?

[Nowler]

Hey folks,
My current spread betting broker has put me over the edge, so it's time for me to move on. I would like to move away from spread betting and into Futures.

A "Sales Associate" from NinjaTrader got back to me again today after speaking with them about 2 months ago (I had told them I needed some time to learn the ropes before I could even consider committing to them).

Since his timing was perfect, I am considering NinjaTrader as my Futures broker. So any input/opinions would be appreciated.
Perhaps you would recommend another broker to me?

I have attached a screenshot of NinjaTraders advertised commission rates.
The guy would contacted me reckons " We are generally quite a bit less expensive as far as our per contract cost"

Do you know a Futures broker (no market makers) who is cheaper and has a minimum deposit of say...€1000 or so

I am limited in my available capital, so I will likely be in the 95c per contract category

 

[f2calv]

Unless you can code (or seriously wish to learn programming) I'm not sure NT as a. Brokerage is anything special.
What exactly do you mean by your current broker putting you over the edge...?

 

[Nowler]

Unless you can code (or seriously wish to learn programming) I'm not sure NT as a. Brokerage is anything special.
What exactly do you mean by your current broker putting you over the edge...?

Thanks for the input mate.
I do actually intend to learn programming (Python) at some point, but, that will be a while away yet. So NT gets bonus points because of it's programming facilities?

Does it lose points in any area?
Are you using them yourself?

What exactly do you mean by your current broker putting you over the edge...?

Ah I am being a bit dramatic.
They are annoying me due to settings on my platform disappearing every 2 months or so. It's kind of annoying having to reset them, and it's a bit concerning that they cannot sort this out but yet are able to flawlessly manage my money?

Their Autochartist feature has been screwy for me for a while without being fixed and their speed at responding to issues is slow. Apart from their low min. deposit, there are no above average aspects.

 

[Nowler]

Also,
NinjaTrader are passing my trades right to the exchange, right?
No market making shenanigans?

 

[Nowler]

NOTE: I have updated my first post with two addition screenshots of cost breakdown

 

[mpups]

Hey folks,
My current spread betting broker has put me over the edge, so it's time for me to move on. I would like to move away from spread betting and into Futures.

A "Sales Associate" from NinjaTrader got back to me again today after speaking with them about 2 months ago (I had told them I needed some time to learn the ropes before I could even consider committing to them).

Since his timing was perfect, I am considering NinjaTrader as my Futures broker. So any input/opinions would be appreciated.
Perhaps you would recommend another broker to me?

I have attached a screenshot of NinjaTraders advertised commission rates.
The guy would contacted me reckons " We are generally quite a bit less expensive as far as our per contract cost"

Do you know a Futures broker (no market makers) who is cheaper and has a minimum deposit of say...€1000 or so

I am limited in my available capital, so I will likely be in the 95c per contract category

do you know the minimum position sizes of the futures contracts you want to trade? futures is a big jump in size from your micro isn't it?

 

[Nowler]

do you know the minimum position sizes of the futures contracts you want to trade? futures is a big jump in size from your micro isn't it?

Huge jump!

I would actually like a bit of help working this out, if someone wants to help.

 

[Nowler]

As per this on their site, I can get a contract for 6.25?

 

[Nowler]

Actually...NinjaTrader is American...
Wont I get screwed on the Pattern Day Trade Rule?
25k min account

 

[mpups]

As per this on their site, I can get a contract for 6.25?

No thats the minimum tick increment, the min position on EUR futures is 125000 EUR

http://www.cmegroup.com/trading/fx/g10/euro-fx_contract_specifications.html

 

[Nowler]

No thats the minimum tick increment, the min position on EUR futures is 125000 EUR

http://www.cmegroup.com/trading/fx/g10/euro-fx_contract_specifications.html

What

How does it work with FX pairs?

 

[mpups]

What

How does it work with FX pairs?

i think you can find brokers who do micro and nano lots, im not sure though cos i haven't tried it

 

[Nowler]

May I should go with CFD's as opposed to Futures?
I just want to try something else other than spread betting

I need to familiarise myself with the difference between SB and CFD's... as far as I can see, they are very similar

 

[mpups]

May I should go with CFD's as opposed to Futures?
I just want to try something else other than spread betting

I need to familiarise myself with the difference between SB and CFD's... as far as I can see, they are very similar

sorry i didnt know there is a micro contract so not as bad, minimum 12500 EUR

http://www.cmegroup.com/trading/fx/e-micros/e-micro-euro_contract_specifications.html

 

[mike.]

what s/b broker are you with atm nowler ?

 

[Nowler]

what s/b broker are you with atm nowler ?

Hi Mike,

0anda is my SB broker

 

[mike.]

have you tried out the usual suspects platforms on demo, I.G . fxpro etc...with ig you can s/b and cfd on the same account, also buy and sell shares..

just a thought.

 

[Nowler]

have you tried out the usual suspects platforms on demo, I.G . fxpro etc...with ig you can s/b and cfd on the same account, also buy and sell shares..

just a thought.

Yeah, I have noticed IG.
I actually get free access to "trader training" from Bizintra if I open an account with IG...

My understanding of other types of trading outside of SB is very low. I just assumed that Futures or Options would be the next step outside of SB, but perhaps CFD's direct to the exchange might be a good next step.

I want to move away from market maker trading, but at the same time, my capital is low

 

[f2calv]

Yeah, I have noticed IG.
I actually get free access to "trader training" from Bizintra if I open an account with IG...

My understanding of other types of trading outside of SB is very low. I just assumed that Futures or Options would be the next step outside of SB, but perhaps CFD's direct to the exchange might be a good next step.

I want to move away from market maker trading, but at the same time, my capital is low

SB & CFD at a market-maker style of broker (such as IG) are identical in every way - it's only your personal tax liabilities which change.

If you are based in the UK it makes sense to trade CFDs for the first ~£10k of profit as that is your personal capital gains allowance.
- If you lose money at the end of the year you can carry forward that loss to the next year to offset against future profits (given that most traders lose this makes a lot of sense)
- If you make more than the ~£10k threshold in the tax year you can just switch to SB for the rest of the tax year.
And repeat.

Sure the interface might look a tiny bit different, i.e. SB is £/€/$ per point and CFD will be a £/€/$ mini or normal sized contract but it's the same.

I have used Interactive Brokers for CFD trading of indexes and their commissions were less than IG's spreads... only downside is that its a very technical/complicated platform to get your head around. Oh avoid IG for options, absolutely appalling spreads.

With IB you can also do futures/options, but they changed the rules a bit a year or two ago on minimum account size for Forex, might be just US clients... so you might want to check that out first.

Sent from my Nexus 6P using Tapatalk

 

[kalott]

Yeah, I have noticed IG.
I actually get free access to "trader training" from Bizintra if I open an account with IG...

My understanding of other types of trading outside of SB is very low. I just assumed that Futures or Options would be the next step outside of SB, but perhaps CFD's direct to the exchange might be a good next step.

I want to move away from market maker trading, but at the same time, my capital is low

https://www.ig.com/uk/forex/forex-direct

https://www.ig.com/uk/l2-trading-platform