Broker With Best Execution For Futures. Does TD Ameritrade Stack Up? | Reviews of Brokers and Data Feeds - futures trading strategies, market news, trading charts and platforms

Reviews of Brokers and Data Feeds

Review and discuss futures brokers, their requirements and features, or ask questions about brokers and data feeds


Broker With Best Execution For Futures. Does TD Ameritrade Stack Up?

  #6 (permalink)

charlotte nc
Trading Experience: Master
Platform: Sierra Chart, TOS, Tradestation, NinjaTrader
Favorite Futures: energy
Posts: 114 since Jul 2012
Thanks: 81 given, 171 received

mks212 View Post
Are people that are trading futures with TD happy there?

My thoughts on futures trading: TD gets a B- on data, and a D on fees. IB gets a D+ on data and an A- on fees. FCMs (like optimus, ddt, amp and many others) are going to be A on data and A on fees. Whats the catch? They arent big sexy companys with 24hr helpdesks and fancy software.

I personally use an FCM (DDT+CTS) for intraday positions because of the high quality data and low fees. The majority of my money sits at IB, which i will put most of my swings on there.

mks212 View Post
My main concern is execution. I know with stocks and options TD holds orders and tries to cross them with their own customer base.

For futures, none of the big boys are dark pooling your orders the way they do with equity and option trades, so you dont have that to worry about. What you do have to worry about is that the data feed isnt great, and on fast moving products like TF and CL, what YOU see may be delayed vs what others see. i traded with TDA for many years and at least three times a week i could see the CL DOM get out of sync with reality on tos. i can occasionally tell a friend that his crude order was filled 30 seconds before TOS does. (yikes!). IBs data is horrible, they do not give you a true 'tick feed' and you will have missing data. I often had crude stop orders that filled ABOVE the bar. Thats right, they will fill you at prices above what thier own chart says was the highest traded price. The truth is that trade did occur, you just can't see it because of the tick bundling stuff they do. If IB didnt have the data shenanigans, i doubt most of these FCMs would be in business at all, because the fees are great.

With a legit FCM, you get a strong data pump to feed a good platform like ninja or sierra which unlocks a lot of wizardry. as matt said above, and many say a lot here, most of that stuff doesnt make seasoned traders much money. Simple systems and longer timeframes are the goal. And i can make plenty of money trading with anyone, as long as i am using large timeframes and larger profit targets.

Reply With Quote
The following 5 users say Thank You to hobart for this post: