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What Trading account from NT?

  #5 (permalink)

Birmingham, UK
Trading Experience: Beginner
Platform: NinjaTrader
Favorite Futures: 6E,6B
Posts: 34 since Aug 2015
Thanks: 24 given, 11 received

matthew28 View Post
Don't know about the brokers but the volume on the crude mini contract is very low. Yesterday the main Crude Oil contract (CL) had a volume of 1,582,871. The E-mini Crude Oil contract (QM) only traded 23,000 contracts. See Energy Products
Most of that will have been during the US former pit hours. It would be very thin overnight. What I said above is futures contracts. I don't think they do a micro contract. A full size contract is $10 a tick or $100 for a ten cent move which it can do in a blink of an eye. The mini contract has an equivalent value of half that, $50 for a ten cent move if I recall correctly. Still a lot.
Another option as you live in the UK is spreadbetting which can be done with a small account as you can trade small, such as 1 a contract. IGindex have a good reputation in the UK.

Hi Matthew28,

Thanks for a reply. I do understand to concept with ticks, but did not realize that volume traded is so low on E-mini, so thank you for that, so i guess i wont be trying to trade that.

I just spoken to FXCM and they said if i open an forex account, i will be able to trade CFDs on crude oil. What is your opinion on this, to trade CFDs rather then futures?

I been messing about with technical analysis, but didnt really have a look on difference between Futures,FX, and CFDs until yesterday properly.

Thank you

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