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Etrade for futures - reviews/commissions

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Etrade for futures - reviews/commissions

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  #1 (permalink)
Experience: Intermediate
Platform: sierra
Trading: futures
Posts: 404 since May 2015
Thanks: 58 given, 205 received

Does any one use etrade for futures? How do they find the reliability? How do the commissions compare? For ES I believe its 1.5 commission + 1.3 exchange fee = 2.8*2 = $5.60 per round turn on the ES contract

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  #2 (permalink)
Nashville, TN
Experience: Beginner
Platform: NinjaTrader
Broker: NinjaTrader, Continuum Data
Trading: MES for now... baby steps
chipwitch's Avatar
Posts: 258 since Feb 2022
Thanks: 187 given, 466 received

Hi, since I'm new here I wasn't allowed to respond or DM halperin in the brokers forum... so, if it isn't too great an offense, I thought I'd respond here to their eTrade question...

I opened an eTrade account a couple months ago. It was my first account in my most recent foray into futures. I only did a handful of trades in MES to realize I needed to do more work studying. So, take my experience with a grain of salt.

I had no issues with the company. They were very responsive on the phone and I believe their fills were efficient for a retailer.

However, I found their platform wanting. There was very little customization. Colors, candle widths etc. Plus, their flagship platform is web based. They do still support their old pc based software which I preferred, but IIRC, you couldn't trade futures from it. Unfortunately, they didn't allow you to have both the pc version and the web based platform running simultaneously. They offered no tabs for multiple charts and you would need to open windows of charts which took up a lot of real estate with the borders, headers, margins etc.

Being a dabbler in programming, I considered using their API to customize some features I wanted, but their API offers very little power and I believe it uses Python, which I understand to be rather slow.

I also looked into using a third party platform like NinjaTrader or TradingView, but was informed by eTrade that their platform was all I could use.

And yes, their commissions are a little high, which made any attempts to scalp MES a more challenging endeavor than on other brokerages.

I have since purchased the lifetime license to NinjaTrader and have found the platform absolutely 1000% better, though I have yet to actually trade live with NT. I am not yet as comfortable with my trading skills though I'm paper trading at every moment during regular market hours.

I'm afraid I don't have any more insight, lacking experience with other platforms, but I wouldn't recommend them. You would think, given their resources, and current merger with Morgan Stanley that they would have a platform that could at least compete with and be loved by at least some traders in the same way as TOS.

Anyway, I hope that helps. Thanks for indulging my posting this here.

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  #3 (permalink)
Los Angeles, California
Experience: Intermediate
Platform: NinjaTrader, TradeStation
Trading: Index futures, etc.
Posts: 29 since Aug 2014
Thanks: 43 given, 12 received

halperin View Post
Does any one use etrade for futures? How do they find the reliability? How do the commissions compare? For ES I believe its 1.5 commission + 1.3 exchange fee = 2.8*2 = $5.60 per round turn on the ES contract

That seems high compared to TradeStation at this time. I think there is a promotion going on at TradeStation -- 50% off their regular commission for future contracts for new accounts. I don't see that on their website right now, so you might want to contact them to find out.

~ Bill

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  #4 (permalink)
Manchester, New Hampshire, United States
Experience: Intermediate
Platform: Firetip(x), TradingView
Broker: IronBeam
Trading: ES, NQ, GC
Posts: 10 since Apr 2020
Thanks: 9 given, 9 received

More useful since they added One-Triggers-OCO order type. I use it to hedge options on SPX/NDQ/RUT.

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