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Australian futures day traders - who do you use?
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Australian futures day traders - who do you use?

  #11 (permalink)
Elite Member
Sydney, Australia
Trading Experience: Beginner
Platform: Ninjatrader
Broker/Data: Mirus
Favorite Futures: FDAX
Posts: 139 since May 2010
Thanks: 150 given, 94 received

Decided to go with Velocity... turns out they don't support international accounts.

BTW can someone tell me what "all in" refers to when talking commissions?

Looks like I will have to go with Mirus.

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  #12 (permalink)
Site Administrator
Manta, Ecuador
Trading Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
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Twiddle View Post
Decided to go with Velocity... turns out they don't support international accounts.

BTW can someone tell me what "all in" refers to when talking commissions?

Looks like I will have to go with Mirus.

I know they do support several countries, but not all (I don't know the specifics). Sorry it didn't work out.

"all in" means including all exchange fees. Some sneaky brokers will quote only commissions, which is not the whole picture of your true cost to put on a trade. "all in" is what you want. Also make sure you are quoted "rt" which is round turn. For every 1 trade you place, you will eventually need to place another trade to get out of it... that is a round turn. Some sneaky brokers only quote half the turn...


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  #13 (permalink)
Elite Member
Sydney Australia
Trading Experience: Advanced
Platform: SierraCharts, NT
Favorite Futures: ES,TF,CL, SPI,
Posts: 78 since Nov 2010
Thanks: 6 given, 23 received

Twiddle View Post
Decided to go with Velocity... turns out they don't support international accounts.

BTW can someone tell me what "all in" refers to when talking commissions?

Looks like I will have to go with Mirus.

It depends on what you trade, right now is 6E, and on what platform. Later if you want SPI and other markets and Asian, European and US markets then it is either IB or OEC. IB suffers from data snapshots and missing ends of data bars. I recently opened an account with OEC and am relatively happy but I still have other accounts with IB. It works better with SierraCharts, even though you may have 250ms ping time to US exchanges - OEC Trader is slow when it happens but SC seems to be unaffected that much. I also use SC for the IB connection. You can use one platform for both or more brokers, at the same time.
'All in' should mean all brokers and exchange fees are included. You maybe referring to AMP CQG/NT offer. It is a reasonable rate with the CQG as a reasonable data source. However, on this forum you will find otherwise( people complained about this particular connection) but you will have some problems with all vendors and brokers, in particular when we are here (250ms is long time) in Australia.
The problems were experienced by some US based traders and CQG apparently "fixed it". It is interesting because I had connectivity issues with my OEC Trader around the same time but not with the SierraCharts, that connected to the same OEC server. I think CQG and NT is not the best combination. Both NT and OEC Trader are .Net platform, which makes performance a challenge when it is tough (lots of data, lots of users). SC is C++ very robust and light platform, hence you can run multiple versions of it connecting to various brokers - try to do that using OEC Trader or NT. The performance will be dismal.
IB has got a better ping time(closer server to the Asian market) but their data sucks. If you trade off tick charts - do not use them. If you trade once a day and the conditions of your trades do not depend on the quality of the data then you will find IB is OK even for 6E. Do not use their charts - use NT, if I did not convince you otherwise, or SC (it is cheaper as well).
good luck in your trading.

Last edited by dlatbm; August 2nd, 2011 at 07:33 AM. Reason: adding
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