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How to Choose a Broker?
Started:April 11th, 2012 (07:25 PM) by Cisco Views / Replies:1,646 / 12
Last Reply:April 16th, 2012 (07:14 PM) Attachments:0

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How to Choose a Broker?

Old April 15th, 2012, 02:11 PM   #11 (permalink)
Elite Member
Near Vancouver BC CANADA
Futures Experience: Intermediate
Platform: NinjaTrader -- IB
Favorite Futures: Futures
cme4pif's Avatar
Posts: 32 since Mar 2011
Thanks: 28 given, 56 received

Advice for Canadains - brokers

That depends on what you want to trade. In Canada the broker with the best platform is probably TD waterhouse, Scotia iTrade is cheaper but what a lousy platform and really bad execution.

If you want to trade US Futures, like oil, (that’s what I do) I use Interactive Brokers. Their support is awful – boarding on rude, their TWS software is ugly, but they accept Canadian based accounts (in US funds only) and they have great execution and low cost. I trade IB with NinjaTrader as the front end. If you are an options guy you might like Think or Swim – more expensive but a great real time interface.

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Old April 16th, 2012, 05:28 PM   #12 (permalink)
Trading Apprentice
Futures Experience: Intermediate
Platform: Saxobank
Favorite Futures: Forex
Piperion's Avatar
Posts: 18 since Apr 2012
Thanks: 6 given, 8 received

I'd look for tight spreads, good platform, and relatively established name first, then everything else. Don't go for anything crazy like EURUSD spread 3 pips etc :P

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Old April 16th, 2012, 07:14 PM   #13 (permalink)
Elite Member
Calgary, Canada
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB, AMP/CQG
Favorite Futures: Futures
Posts: 11 since Apr 2012
Thanks: 11 given, 10 received

IB Canada is probably your best bet to get started. Their margin requirements are high, but that can also keep you out of trouble. Good commissions.

Like was mentioned previous, use a NinjaTrader license to trade from a DOM or charts. TWS is cumbersome and probably not well suited to a thin market like CL.


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