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Better trade platform for a Canadian other than IBD?


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Better trade platform for a Canadian other than IBD?

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  #1 (permalink)
white rock
 
 
Posts: 3 since Feb 2012
Thanks: 9 given, 0 received

I trade in Canada and I'm currently using IBD. I'm finding a lot of slippage on stop orders on very liquid products such as the SPY. Also there order entry and order adjustments are cumbersome and their charts are garbage. I am wondering if anyone out there has something they would recommend? Cheers.

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  #3 (permalink)
Legendary Market Wizard
Cancun, Mexico
 
Experience: Advanced
Trading: Stock Index Futures / CFDs
 
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Rambo1123 View Post
I trade in Canada and I'm currently using IBD. I'm finding a lot of slippage on stop orders on very liquid products such as the SPY. Also there order entry and order adjustments are cumbersome and their charts are garbage. I am wondering if anyone out there has something they would recommend? Cheers.

Happy with Mirus Futures. No problems in execution or anything else.

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  #4 (permalink)
port charlotte, florida
 
Experience: Beginner
Platform: NinjaTrader
Trading: Oil
 
Posts: 100 since Dec 2011
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Rambo1123 View Post
I trade in Canada and I'm currently using IBD. I'm finding a lot of slippage on stop orders on very liquid products such as the SPY. Also there order entry and order adjustments are cumbersome and their charts are garbage. I am wondering if anyone out there has something they would recommend? Cheers.

For futures Mirus with Ninja Trader works just fine. I've been looking at Infinity Futures with InfinityAT (Sierra) and it also looks good. Infinity seems to provide better more personal support than Mirus but I have learnt Ninja Trader and am not sure if I want to learn InfinityAT.

I notice that you talk about the SPY and neither of those brokers handle equities. I haven't looked for another broker to handle those since I don't try and day trade those. If you are buying equities for longer periods then the loss of a few ticks is not such a big deal. If you want to day trade them, then you will have to keep looking.

By the way - I agree that IB's system is hard to use. I paid for Ninja Trader to trade any broker and it works well for equities on IB. The problem is that you may not want to pay the fee to NT. You could choose to use the free version of NT for charts and deal with IB for order entry.

Good luck.

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  #5 (permalink)
Toronto, Canada
 
Experience: Advanced
Platform: NinjaTrader, MT4
Broker: Amp/CQG, Citibank
Trading: CL, GC, 6E, ES, TF, EURUSD, GBPJPY, AUDUSD
 
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Posts: 350 since Sep 2010
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Rambo1123 View Post
I trade in Canada and I'm currently using IBD. I'm finding a lot of slippage on stop orders on very liquid products such as the SPY. Also there order entry and order adjustments are cumbersome and their charts are garbage. I am wondering if anyone out there has something they would recommend? Cheers.

That's terrible and really unacceptable IMO. It sounds like their API or interface into the true market, sucks, in many ways.

I use Amp futures, and although I am in Ontario (Mississauga), everything is mostly top-notch, with NT7 and the CQG datafeed - I am on a Rogers 10 Mbps (although I see they are now lying on their pages by calling it "up to 18Mbps.") . You can fund and keep your seed capital in CAD with Amp. Can't remember the last time I had slippage, in ES, CL or 6E. NT7 chart trader is $60/month and well worth it, as DOM entry is just not for me.

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  #6 (permalink)
port charlotte, florida
 
Experience: Beginner
Platform: NinjaTrader
Trading: Oil
 
Posts: 100 since Dec 2011
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Beljevina View Post
That's terrible and really unacceptable IMO. It sounds like their API or interface into the true market, sucks, in many ways.

I use Amp futures, and although I am in Ontario (Mississauga), everything is mostly top-notch, with NT7 and the CQG datafeed - I am on a Rogers 10 Mbps (although I see they are now lying on their pages by calling it "up to 18Mbps.") . You can fund and keep your seed capital in CAD with Amp. Can't remember the last time I had slippage, in ES, CL or 6E. NT7 chart trader is $60/month and well worth it, as DOM entry is just not for me.

Once again, I don't think AMP does anything but futures. Does anyone have a broker for equities like SPY?

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  #7 (permalink)
Calgary, Canada
 
Experience: Intermediate
Platform: Multicharts
Broker: IB, IQFeed
Trading: GC
 
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Posts: 76 since Nov 2011
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Rambo1123 View Post
I trade in Canada and I'm currently using IBD. I'm finding a lot of slippage on stop orders on very liquid products such as the SPY. Also there order entry and order adjustments are cumbersome and their charts are garbage. I am wondering if anyone out there has something they would recommend? Cheers.

Rambo - I don't know all the features that you need. But I use the following three brokers and have not noticed slippage problems. All three handle stocks - TD Waterhouse, Interactive Brokers, and OptionsXpress Canada.

I am closing the OptionsXpress account because I don't need it and there are financial concerns with their clearing broker (Penson Financial). However, this concern may not be real because the account should be protected by the CDIC.

There are several other threads discussing brokers in Canada. One of them here.


Len

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  #8 (permalink)
midland ontario canada
 
 
Posts: 3 since Mar 2012
Thanks: 4 given, 1 received

i have done quite a bit of research on brokers and i still have yet to find a good broker that has forex and accepts canadians mirus does not accept canadians any help would be appreciated

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May 25, 2012


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