I'm UK based and looking for advice on which broker/clearing firm to sign up with for trading primarily CL and GC. I only use Sierra Chart and plan to use their Teton order routing with Denali data feed so the broker/clearing firm must be compatible. My understanding is that some US firms allow GBP deposits to prevent clients from being stung with FX fees. Clearly this would be the route to take unless there are any UK based brokers that I am unaware of. Does anyone have any experience with this type of arrangement?
I have been investing for 15 years and trading on and off for 10 years with relatively small spread betting accounts. I intend to deposit £35-40k for my futures trading.
Any advice much appreciated.
Thanks
Rich
The following user says Thank You to Boovmeister for this post:
Scroll down to Setup Instructions and this is the list:
To be able to use this service, you need to have a live trading account with one of the following clearing firms or one of their Introducing Brokers:
Stage 5 Trading (broker)
Edge Clear (broker)
Ironbeam (Clearing firm.)
Trade Pro Futures (broker)
AGN Futures (broker)
Canon Trading (broker)
Sweet Futures (broker)
DeepDiscountTrading (broker)
Advantage Futures (Clearing firm)
Dorman Trading (Clearing firm)
Phillip Capital (Clearing firm)
There may be others at a later time, but this is it today, apparently.
No idea about their policies on UK accounts, but this is a start.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
The products you're looking to trade are margined in USD so you wouldn't be able to trade them in a GBP account. Most FCM's don't charge a conversion fee when foreign funds are received, so your best option is to wire funds from your GBP account and ask your bank not to convert the funds on their end, let the FCM do that. We have lots of UK-based traders on the Teton feed.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.