dishonest brokers | 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


dishonest brokers

  #6 (permalink)

Market Wizard
Amsterdam, The Netherlands
Trading Experience: Intermediate
Platform: Sierra, IRT, ToS, Ninja
Broker/Data: Stage 5
Favorite Futures: NQ
bob7123's Avatar
Posts: 645 since Oct 2011
Thanks: 130 given, 2,468 received


Why are they bucket shops?

For starters, in a recent (formerly BMT) webinar Gary Norden, an very experienced trader explains how and why they do it:

Short story they are taking the other side of your trade, and can change the spread you see at will.

For a level playing field, try the E-micro futures contract on the CME. There are many brokers who will let you trade this; their commissions are the same whether you win or lose. The M6E is really the only one with enough liquidity, but at least this way you can lose your money fair and square.

They are nice and small, you can test out live trades without losing your shirt. Also you will learn the details of trading futures, after a while you may get bold enough to step up to bigger ones.

Follow me on Twitter Reply With Quote