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Have you dealt with any of these brokers? Looking to open an account


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Have you dealt with any of these brokers? Looking to open an account

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  #1 (permalink)
Toronto
 
Experience: Beginner
Platform: Sierra
Broker: MB
Trading: ES
 
Posts: 313 since Jun 2013

Hello there,

So I am considering opening an account, I am wondering if any of you have dealt with any of these brokers?


Alpari


Plus 500

Deep discount traders (Howard Lender)


XE Markets


AVA Fx

Markets.com


Generic Trade

MB Trading



What are the important issues I should be concerned with when opening an account? (aside from the obvious)

I am looking to trade the ES, and open an account with around $2500

PLease advise. Thank You.

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  #3 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,745 since Jun 2009
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If you do a search in the brokers section, most of these already have review threads.

https://futures.io/brokers-data-feeds/

Mike

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  #4 (permalink)
Detroit, Michigan
 
Experience: Beginner
Platform: Ninja Trader
Trading: Futures
 
Posts: 299 since Nov 2011
Thanks: 497 given, 286 received

I would pick Howard Lender. I've spoken to him and he is the real deal and he is also the least expensive as well. The only reason I don't use him is the historical data issue which his data feed (at the time anyway) wasn't what I needed.



budfox View Post
Hello there,

So I am considering opening an account, I am wondering if any of you have dealt with any of these brokers?


Alpari


Plus 500

Deep discount traders (Howard Lender)


XE Markets


AVA Fx

Markets.com


Generic Trade

MB Trading



What are the important issues I should be concerned with when opening an account? (aside from the obvious)

I am looking to trade the ES, and open an account with around $2500

PLease advise. Thank You.


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  #5 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,745 since Jun 2009
Thanks: 32,292 given, 97,490 received


TrendTraderBH View Post
I would pick Howard Lender. I've spoken to him and he is the real deal and he is also the least expensive as well. The only reason I don't use him is the historical data issue which his data feed (at the time anyway) wasn't what I needed.

Are you sure he will open with only $2500?

The fact is, no one I repeat NO ONE should be trading futures with such a low account size and using such ridiculous margins...

Most reputable firms require at least $5,000 for an individual account, and that is an absolute minimum. Many require $10,000. Some more.

Mike

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  #6 (permalink)
new york city
 
Experience: Intermediate
Platform: nt
Trading: es
 
SarahKrantz's Avatar
 
Posts: 42 since Apr 2013


Big Mike View Post
Are you sure he will open with only $2500?

The fact is, no one I repeat NO ONE should be trading futures with such a low account size and using such ridiculous margins...

Most reputable firms require at least $5,000 for an individual account, and that is an absolute minimum. Many require $10,000. Some more.

Mike

I agree with the first sentence.

Deep Discount Trading, a Crossland subsidiary, is highly reputable, their low margins notwithstanding. And Howard Lender will treat you the same if you have $2500 or $1 million in margin. I've yet to find anyone as responsive and dedicated to customer service as him. Very highly recommended.

Oh, and if you have a lifetime, multi-broker Ninja license, the historical data provided on the TT connection is ZenFire's (which is Rithmic's). That's a little secret I found out from NT support.

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  #7 (permalink)
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,745 since Jun 2009
Thanks: 32,292 given, 97,490 received


SarahKrantz View Post
I agree with the first sentence.

Deep Discount Trading, a Crossland subsidiary, is highly reputable, their low margins notwithstanding. And Howard Lender will treat you the same if you have $2500 or $1 million in margin. I've yet to find anyone as responsive and dedicated to customer service as him. Very highly recommended.

Oh, and if you have a lifetime, multi-broker Ninja license, the historical data provided on the TT connection is ZenFire's (which is Rithmic's). That's a little secret I found out from NT support.

That's good. But look at the OP's profile:

"Broker/Data: looking for the cheapest one"

This is a clear sign of someone who doesn't know better. I'm just trying to tell him he needs to completely reconsider his entire trading plan, because he doesn't appear to know what he is doing.

This is an excellent place to start:


If you read the hundreds of posts in there it should be painfully obvious all the mistakes rookies make, and you should then be much better positioned to not do the same.

Mike

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  #8 (permalink)
new york city
 
Experience: Intermediate
Platform: nt
Trading: es
 
SarahKrantz's Avatar
 
Posts: 42 since Apr 2013


Big Mike View Post
That's good. But look at the OP's profile:

"Broker/Data: looking for the cheapest one"

This is a clear sign of someone who doesn't know better. I'm just trying to tell him he needs to completely reconsider his entire trading plan, because he doesn't appear to know what he is doing.

This is an excellent place to start:


If you read the hundreds of posts in there it should be painfully obvious all the mistakes rookies make, and you should then be much better positioned to not do the same.

Mike

No argument, but after the broker makes all the required regulatory disclosures and the customer agrees and signs off to them, it's unfair to imply a broker isn't reputable if his margins are low.

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  #9 (permalink)
Detroit, Michigan
 
Experience: Beginner
Platform: Ninja Trader
Trading: Futures
 
Posts: 299 since Nov 2011
Thanks: 497 given, 286 received

Nice to know about the data feed as I have a lifetime, multi-broker NT license.



SarahKrantz View Post
I agree with the first sentence.

Deep Discount Trading, a Crossland subsidiary, is highly reputable, their low margins notwithstanding. And Howard Lender will treat you the same if you have $2500 or $1 million in margin. I've yet to find anyone as responsive and dedicated to customer service as him. Very highly recommended.

Oh, and if you have a lifetime, multi-broker Ninja license, the historical data provided on the TT connection is ZenFire's (which is Rithmic's). That's a little secret I found out from NT support.


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  #10 (permalink)
Melbourne Victoria/Australia
 
Experience: Advanced
Platform: C-trader, MT4
Broker: Pepperstone
Trading: Forex, Indices
 
Melba swing's Avatar
 
Posts: 68 since May 2013
Thanks: 27 given, 27 received



budfox View Post
Hello there,

So I am considering opening an account, I am wondering if any of you have dealt with any of these brokers?


Alpari


Plus 500

Deep discount traders (Howard Lender)


XE Markets


AVA Fx

Markets.com


Generic Trade

MB Trading



What are the important issues I should be concerned with when opening an account? (aside from the obvious)

I am looking to trade the ES, and open an account with around $2500

PLease advise. Thank You.


Hi, don't know about the ones you mention or the ES but you can begin with Mirus from that price and trade the M6E. I have just taken that road myself recently.

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  #11 (permalink)
Liverpool, UK
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Stocks, ES
 
Posts: 68 since May 2013
Thanks: 84 given, 40 received


Melba swing View Post
Hi, don't know about the ones you mention or the ES but you can begin with Mirus from that price and trade the M6E. I have just taken that road myself recently.

What's the fee of the M6E and how it compares to the ES in terms of price per tick, volume, liquidity. More importantly why choosing M6E over the ES?

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  #12 (permalink)
Melbourne Victoria/Australia
 
Experience: Advanced
Platform: C-trader, MT4
Broker: Pepperstone
Trading: Forex, Indices
 
Melba swing's Avatar
 
Posts: 68 since May 2013
Thanks: 27 given, 27 received


ghl123 View Post
What's the fee of the M6E and how it compares to the ES in terms of price per tick, volume, liquidity. More importantly why choosing M6E over the ES?


Hi, the round trip fee is $2.22. Liquidity is fine in the first few hours of US session which I'm trading. More info can be found on the CME website for volumes etc. Price per tick is $1.25 and the reason you would chose this instrument is because you don't have much trading capital and are new to futures.

A good starting point so to speak. The ES is a whole different beast, I'm not able to speak about it as I have never traded it but you need a lot larger capital to start with as just the contract holding deposit is significantly larger, not to mention the cost per tick size.

The CME website is very informative on all you need to know about all the instruments with 15 minute delayed quotes in current time so worth a look for further education.

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