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What brokerages are you using/do you recommend for short term futures trading?


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What brokerages are you using/do you recommend for short term futures trading?

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  #1 (permalink)
Madrid, Spain
 
 
Posts: 1 since May 2017
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Hi, I'm a begginer and I have been doing some research about brokerages (dormantrading, IB, AMPfutures, tradestation, etc). I haven't decided yet so I came here to ask you guys which one you use/recommend.

It would be a small account $15k - $20k.

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  #3 (permalink)
Gits (Hooglede) Belgium
 
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akra View Post
Hi, I'm a begginer and I have been doing some research about brokerages (dormantrading, IB, AMPfutures, tradestation, etc). I haven't decided yet so I came here to ask you guys which one you use/recommend.

It would be a small account $15k - $20k.

what would be you criteria ?

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  #4 (permalink)
Detroit, Michigan, USA
 
Experience: Intermediate
Platform: NT8 w/TTP & Jigsaw
Broker: Kinetick/CQG
Trading: CL and ES (sometimes)
 
t0030tr's Avatar
 
Posts: 67 since Jun 2013
Thanks: 27 given, 65 received

Amp.. They will match anyone's comms and they offer very reasonable priced data. $15 a month

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  #5 (permalink)
Sulphur, LA USA
 
Experience: Intermediate
Platform: Ninjatrader
Trading: ES, NQ
 
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Posts: 56 since May 2014
Thanks: 36 given, 65 received

I use NT7 with Dorman Trading

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  #6 (permalink)
Houston, TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Futures, AMP, CQG
Trading: 6E
 
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akra View Post
Hi, I'm a begginer and I have been doing some research about brokerages (dormantrading, IB, AMPfutures, tradestation, etc). I haven't decided yet so I came here to ask you guys which one you use/recommend.

It would be a small account $15k - $20k.

Check with NinjaTrader. Since they started their NinjaTrader Brokerage, I believe, If you're using NinjaTrader as your software trading platform, you are required to use NinjaTrader brokerage as your broker. Some of us older NinjaTrader License holders were "grandfathered" and permitted to keep the brokerage we were using (AMP, Dorman, Optimus Futures, etc) PRIOR to NinjaTrader starting their own brokerage. I'm not sure that is still permitted. You may be required to use NinjaTrader Brokerage, as your broker. Check with them first - prior to opening an account with another brokerage.

After all, it's what you learn AFTER you know it all, that counts!
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  #7 (permalink)
Detroit, Michigan, USA
 
Experience: Intermediate
Platform: NT8 w/TTP & Jigsaw
Broker: Kinetick/CQG
Trading: CL and ES (sometimes)
 
t0030tr's Avatar
 
Posts: 67 since Jun 2013
Thanks: 27 given, 65 received


TheWizard View Post
Check with NinjaTrader. Since they started their NinjaTrader Brokerage, I believe, If you're using NinjaTrader as your software trading platform, you are required to use NinjaTrader brokerage as your broker. Some of us older NinjaTrader License holders were "grandfathered" and permitted to keep the brokerage we were using (AMP, Dorman, Optimus Futures, etc) PRIOR to NinjaTrader starting their own brokerage. I'm not sure that is still permitted. You may be required to use NinjaTrader Brokerage, as your broker. Check with them first - prior to opening an account with another brokerage.

Very true, you must have a license prior to the opening of NT brokerage.

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  #8 (permalink)
West palm beach Florida palm beach
 
 
Posts: 1 since Jan 2014
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akra View Post
Hi, I'm a begginer and I have been doing some research about brokerages (dormantrading, IB, AMPfutures, tradestation, etc). I haven't decided yet so I came here to ask you guys which one you use/recommend.

It would be a small account $15k - $20k.

you have options with ninjatrader thru Dorman or AMP Futures both are competitive

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  #9 (permalink)
Fort Lauderdale, Florida, USA
 
Experience: Beginner
Platform: NT8, Bookmap
Trading: ES, MES
 
Posts: 149 since Feb 2017
Thanks: 70 given, 129 received

I believe that you only have to purchase the NT license if you go w a broker -other than- NinjaBrokerage. There are a variety of brokers who allow use of NT7 and/or NT8.

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  #10 (permalink)
 
 
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Posts: 175 since Mar 2013
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Obviously I am biased...but we are one of very few independent IB's left out there which gives you some advantages FCM's don't.

You can read what current clients say about us and we will match rates while not compromising service.
https://www.cannontrading.com/

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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  #11 (permalink)
San Antonio, Tx
 
Experience: Beginner
Platform: Ninjatrader
Broker: Ninjatrader, CQG
Trading: ES
 
Posts: 42 since Jul 2012
Thanks: 61 given, 25 received

Ninja, or check out Advantage Futures, their min. is 10k.

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  #12 (permalink)
 
 
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Posts: 2,487 since Sep 2010
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I would be happy to help anyone via our brokerage Optimus Futures

Thank you,
Matt Z

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #13 (permalink)
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akra View Post
Hi, I'm a begginer and I have been doing some research about brokerages (dormantrading, IB, AMPfutures, tradestation, etc). I haven't decided yet so I came here to ask you guys which one you use/recommend.

It would be a small account $15k - $20k.

If you wish to use the NinjaTrader platform for trading futures then you can use it with NinjaTrader Brokerage or Interactive Brokers.

Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
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  #14 (permalink)
Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
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Posts: 2,268 since Nov 2011
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akra View Post
Hi, I'm a begginer and I have been doing some research about brokerages (dormantrading, IB, AMPfutures, tradestation, etc). I haven't decided yet so I came here to ask you guys which one you use/recommend.

It would be a small account $15k - $20k.

I use and would use no one else except Interactive Brokers. I'm forced to use NinjaTrader Brokerage for FOREX due to Dodd-Frank.

IB's account security is the absolute best in the industry. They are among, if not the, biggest online broker...and clear their own stuff. Great tech. Have multiple server locations around the globe.

I have had AMP, Dorman and others I can't even remember. All, to me, seems small time.

But it can get expensive going with IB I must admit. Their data is not good for what I do....at all. But I get it their business is not data. So I buy data from IQFEED.

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #15 (permalink)
PERU/CALLAO
 
Experience: Advanced
Platform: Various
Broker: Various - (MC, CQG, IQFeed, IB)
Trading: US Futures and Equities, US Options, ETFs, Commodities, EUR/USD
 
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Blash View Post
I use and would use no one else except Interactive Brokers. I'm forced to use NinjaTrader Brokerage for FOREX due to Dodd-Frank.

IB's account security is the absolute best in the industry. They are among, if not the, biggest online broker...and clear their own stuff. Great tech. Have multiple server locations around the globe.

I have had AMP, Dorman and others I can't even remember. All, to me, seems small time.

But it can get expensive going with IB I must admit. Their data is not good for what I do....at all. But I get it their business is not data. So I buy data from IQFEED.

Ron

I was surprise you are the first to mention Interactive Brokers.... I have a similar setup. IB+NT or MC+IQFEED.

Not cheap but works for me.

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  #16 (permalink)
San Diego CA
 
 
Posts: 1 since May 2017
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akra View Post
Hi, I'm a begginer and I have been doing some research about brokerages (dormantrading, IB, AMPfutures, tradestation, etc). I haven't decided yet so I came here to ask you guys which one you use/recommend.

It would be a small account $15k - $20k.

You MUST check out Infinity Futures. They use Sierra Charts. It is the only Futures platform I use. Best Platform - Fastest fill times - Best Service - Great pricing - 24hr Day Trading margins ( and they are very low). I couldn't be happier. TradesStation is an awesome platform, but you will pay for it and their service sucks. I know from personal experience. If you are just trading Futures, then Infinity Futures is the way to go. Good Luck.

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  #17 (permalink)
Detroit, Michigan, USA
 
Experience: Intermediate
Platform: NT8 w/TTP & Jigsaw
Broker: Kinetick/CQG
Trading: CL and ES (sometimes)
 
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Posts: 67 since Jun 2013
Thanks: 27 given, 65 received


Blash View Post
I use and would use no one else except Interactive Brokers. I'm forced to use NinjaTrader Brokerage for FOREX due to Dodd-Frank.

IB's account security is the absolute best in the industry. They are among, if not the, biggest online broker...and clear their own stuff. Great tech. Have multiple server locations around the globe.

I have had AMP, Dorman and others I can't even remember. All, to me, seems small time.

But it can get expensive going with IB I must admit. Their data is not good for what I do....at all. But I get it their business is not data. So I buy data from IQFEED.

Ron

IB does have good security, but data feed is agg and api with NT is clunky. Also margins high as well during rth compared to AMP. If you are new to trading, I would not start out with a 15k account or more. Margins are $500 a contract during rth with AMP so you could start with a much lower account which I would highly recommend.

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  #18 (permalink)
Detroit, Michigan, USA
 
Experience: Intermediate
Platform: NT8 w/TTP & Jigsaw
Broker: Kinetick/CQG
Trading: CL and ES (sometimes)
 
t0030tr's Avatar
 
Posts: 67 since Jun 2013
Thanks: 27 given, 65 received

I also hate to plug, but I highly recommend trading sim or doing a combine before putting that much money on the line. Without a solid track record a loss of that magnitude will be mentally debilitating.

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  #19 (permalink)
Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
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Posts: 2,268 since Nov 2011
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t0030tr View Post
IB does have good security, but data feed is agg and api with NT is clunky. Also margins high as well during rth compared to AMP. If you are new to trading, I would not start out with a 15k account or more. Margins are $500 a contract during rth with AMP so you could start with a much lower account which I would highly recommend.

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I recently started to use IB's gateway connection and find I like it much better than TraderWorkStation (TWS), IB's platform.

With the gateway I can have the connection up all the time there are no server resets that kick you off once a day like with TWS. Runs super smooth, too bad I only discovered the gateway option about a month ago. Shame on me.

Ron


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...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #20 (permalink)
Detroit, Michigan, USA
 
Experience: Intermediate
Platform: NT8 w/TTP & Jigsaw
Broker: Kinetick/CQG
Trading: CL and ES (sometimes)
 
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Posts: 67 since Jun 2013
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Blash View Post
I recently started to use IB's gateway connection and find I like it much better than TraderWorkStation (TWS), IB's platform.

With the gateway I can have the connection up all the time there are no server resets that kick you off once a day like with TWS. Runs super smooth, too bad I only discovered the gateway option about a month ago. Shame on me.

Ron


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It sounds like that interface is gonna be much better in NT8. Unfortunately I can't move forward until my tools are ported to NT8 along with BH and BB.

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  #21 (permalink)
Slovakia
 
Experience: Intermediate
Platform: Ninjatrader 8
Broker: Interactive Brokers
Trading: K200M,KOSDQ150
 
Posts: 208 since Aug 2009
Thanks: 80 given, 104 received


Blash View Post
I recently started to use IB's gateway connection and find I like it much better than TraderWorkStation (TWS), IB's platform.

With the gateway I can have the connection up all the time there are no server resets that kick you off once a day like with TWS. Runs super smooth, too bad I only discovered the gateway option about a month ago. Shame on me.

Ron


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You have no server resets with IB Gateway? I have every day every mornig 6:15-6:17 (CET) 1 time have it at 6:45-6:47 (CET)

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  #22 (permalink)
North Carolina
 
Experience: Beginner
Platform: NinjaTrader, Tradestation
Trading: es
 
Posts: 644 since Nov 2011

Tradestation is one option worth considering. I would also look at FuturesOnline and NinjaTrader. I think FuturesOnline is ran by some former OEC people.

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  #23 (permalink)
Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
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Posts: 2,268 since Nov 2011
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Obelixtrader View Post
You have no server resets with IB Gateway? I have every day every mornig 6:15-6:17 (CET) 1 time have it at 6:45-6:47 (CET)

Seems with NT8 it reconnects with IB's gateway as opposed to IB's TWS.

I just tested overnight to double check between Friday and Saturday morning here in Chicago to IB's Chicago's server. NT8 reconnects. I never witnessed it because it happens late but I leave my trade machine run 24 hrs save for a reboot shortly after RTH close. I never looked thru the log file for what is actually happening but I just did for this post and I was disconnected for 1.5 hrs in the middle of the night. Key here is I was reconnected. With NT7, back when I was using it, I would get disconnected and that was it it stayed that way until I did something the next morning.

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #24 (permalink)
North Carolina
 
Experience: Beginner
Platform: NinjaTrader, Tradestation
Trading: es
 
Posts: 644 since Nov 2011

Two more notes, one I would be extra careful with third party software especially if connecting to non futures dedicated brokers. Both the broker and the software can be good but with anything complex there is potential for things to go wrong which is something you don't want to be dealing with. Second, I'm not sure that I'd fund an account beyond what you truly need. There have been a few cases where money has been locked or up lost at FCM's and if say you think you'll only truly need maybe 10k then why not hold out the rest in a savings account.

If you want to do system trading, I think Tradestation is still the best even though they don't seem to be investing properly into their platform. Tradestation's discretionary trading abilities aren't the best but are sufficient. Ninjatrader has the better ecosystem and innovative tools.

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  #25 (permalink)
 
 
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tpredictor View Post
Two more notes, one I would be extra careful with third party software especially if connecting to non futures dedicated brokers. Both the broker and the software can be good but with anything complex there is potential for things to go wrong which is something you don't want to be dealing with. Second, I'm not sure that I'd fund an account beyond what you truly need. There have been a few cases where money has been locked or up lost at FCM's and if say you think you'll only truly need maybe 10k then why not hold out the rest in a savings account.

If you want to do system trading, I think Tradestation is still the best even though they don't seem to be investing properly into their platform. Tradestation's discretionary trading abilities aren't the best but are sufficient. Ninjatrader has the better ecosystem and innovative tools.

Although we offer Futures only, I do not think that your conclusion/assumption on companies that offer other asset classes on other platforms is valid. There is a separation between front-end and backend connectivity, they do not sit on top of each other. Second, TradeStation and MC, in my opinion, provide better-bactested results than many other platforms I have seen. This, in my opinion, is one of their core strength.

Thanks,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #26 (permalink)
Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
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Posts: 2,268 since Nov 2011
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Obelixtrader View Post
You have no server resets with IB Gateway? I have every day every mornig 6:15-6:17 (CET) 1 time have it at 6:45-6:47 (CET)


Blash View Post
Seems with NT8 it reconnects with IB's gateway as opposed to IB's TWS.

I just tested overnight to double check between Friday and Saturday morning here in Chicago to IB's Chicago's server. NT8 reconnects. I never witnessed it because it happens late but I leave my trade machine run 24 hrs save for a reboot shortly after RTH close. I never looked thru the log file for what is actually happening but I just did for this post and I was disconnected for 1.5 hrs in the middle of the night. Key here is I was reconnected. With NT7, back when I was using it, I would get disconnected and that was it it stayed that way until I did something the next morning.

Ron

Connected to IB over night. Here is what happened.



Disconnected for 26 seconds total around 1:00am with IB's gateway connection.

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #27 (permalink)
Slovakia
 
Experience: Intermediate
Platform: Ninjatrader 8
Broker: Interactive Brokers
Trading: K200M,KOSDQ150
 
Posts: 208 since Aug 2009
Thanks: 80 given, 104 received

I will look on my connection tommorow morning (NT8).

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  #28 (permalink)
Slovakia
 
Experience: Intermediate
Platform: Ninjatrader 8
Broker: Interactive Brokers
Trading: K200M,KOSDQ150
 
Posts: 208 since Aug 2009
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Obelixtrader View Post
I will look on my connection tommorow morning (NT8).

i am on Europe server (IB Gateway) almost 2 min vs your 26 sec

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  #29 (permalink)
Bangkok
 
 
Posts: 64 since Sep 2016


TheWizard View Post
Check with NinjaTrader. Since they started their NinjaTrader Brokerage, I believe, If you're using NinjaTrader as your software trading platform, you are required to use NinjaTrader brokerage as your broker. Some of us older NinjaTrader License holders were "grandfathered" and permitted to keep the brokerage we were using (AMP, Dorman, Optimus Futures, etc) PRIOR to NinjaTrader starting their own brokerage. I'm not sure that is still permitted. You may be required to use NinjaTrader Brokerage, as your broker. Check with them first - prior to opening an account with another brokerage.

Hi Wizard: you must also know plenty about their datafeed company named NinjaTrader Continuum then, right?

You personally use it?

Do you like it in terms of consistency and reliability and such?

Thx Wizard

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  #30 (permalink)
Houston, TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Futures, AMP, CQG
Trading: 6E
 
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vont View Post
Hi Wizard: you must also know plenty about their datafeed company named NinjaTrader Continuum then, right?

You personally use it?

Do you like it in terms of consistency and reliability and such?

Thx Wizard

No, I don't use Ninja as my broker or data feed. Don't know anything about consistency / reliability. I'm grand-fathered and am with another broker.

After all, it's what you learn AFTER you know it all, that counts!
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  #31 (permalink)
Bangkok
 
 
Posts: 64 since Sep 2016


akra View Post
Hi, I'm a begginer and I have been doing some research about brokerages (dormantrading, IB, AMPfutures, tradestation, etc). I haven't decided yet so I came here to ask you guys which one you use/recommend.

It would be a small account $15k - $20k.

Do not ever let anyone, any trader, sim or otherwise, any broker, any friend with good or
ill intent or any claimed to be avid live consistently profitable trader or guru or coaching
outfit....

to convince you that 15k-20k is a small account, EVER!

My advice to you is, open a live acct with only 5k to start out with.

If you have the proper tool to trade with, like use the Chinese Wok to prepare Tim-Sum
and laser to lobotomize; you won't empty your 5k.

If you lose it, wise up trader wannabe, you got to change your trading tools to something
more predictable, more accurate in terms of entry and exit et cetera.

Even IF YOU CAN NOT PROTECT YOUR 5K....
chalk it up. You still have the remaining to delve more in depth
and pull yourself into another level of trading.

Let me part with the followings:

to survive your hard earned 5k,

you must be able to IMMEDIATELY hit the CLOSE button
to delimit your each and every loss happening
right under your very nose;

do not ever hope that the price would improve
in your noble favor, K? Just close out ASAP,
to protect your cash, so there is enough
to try again the next session, alright?

risk no more than 10 tics, and

stay far away from ES,

IT IS NOT INTENDED FOR BEGINNERS;


you won't want to give away all your
fund too quickly now, do you?

Best in trading to you, K?

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futures io Trading Community Trading Reviews and Vendors Brokers > What brokerages are you using/do you recommend for short term futures trading?


Last Updated on June 15, 2017


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