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Trading US Futures from Australia
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Trading US Futures from Australia

  #1 (permalink)
Elite Member
Sydney NSW Australia
 
Futures Experience: None
Platform: None
Favorite Futures: None
 
Posts: 2 since Jun 2012
Thanks: 6 given, 0 received

Trading US Futures from Australia

Hi all,

I'm just starting out in trading and have been interested in trading futures by solely watching the DOM. I understand that Velocity Futures provides X_Trader for free and was hoping to use them so I can stare at the price action through X_Trader and occasionally do 1 Lot trades. However, Velocity Futures are not accepting Australian customers anymore.

Is there other brokers that also provide X_Trader for free? If not, what is the next best thing or my situation as an Aussie?

Many thanks
Michael

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Adelaide, Australia
 
Futures Experience: Beginner
Platform: NT7
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: OIL
 
timwr's Avatar
 
Posts: 22 since Jul 2011
Thanks: 5 given, 18 received


Hey Michael,

I'm in Adelaide and I use Mirus and RCG as brokers and I purchased Ninja trader for approx. $1000 lifetime license. I'm not sure about getting x Trader for free but you can download and use NT in sim mode for free. Setup a demo account with Mirus and you can sim trade the live market, otherwise you're trading on canned data.

Good luck

Tim

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  #4 (permalink)
Elite Member
Australia
 
Futures Experience: Intermediate
Platform: Investor RT, Multicharts
Broker/Data: LMAX, Infinity Futures
Favorite Futures: EUR/USD
 
fibfisherman's Avatar
 
Posts: 57 since Jun 2010
Thanks: 167 given, 87 received

Hi Michael,

If you are looking for a bundled "free" quality dom Infinity Futures accept Australian account holders. The Infinity dom is one of the best around imo. A funded account will include a sim option as well.

Cheers,

FF

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


elves377 View Post
Hi all,

I'm just starting out in trading and have been interested in trading futures by solely watching the DOM. I understand that Velocity Futures provides X_Trader for free and was hoping to use them so I can stare at the price action through X_Trader and occasionally do 1 Lot trades. However, Velocity Futures are not accepting Australian customers anymore.

Is there other brokers that also provide X_Trader for free? If not, what is the next best thing or my situation as an Aussie?

Many thanks
Michael

I do not think they ever did
Looking at your trading requirements you need to have a reliable and fast connection
I have tried many, and having ping of 200ms and above the CQG was the only solution.
I did not go with them directly but through AMP. I had some issues with the their responses initially but the CQG network is superior to any other(even Esignal).
They offer now NT and MC ver8 with CQG connection. The DT version of MC may be be suitable for you if you do not use any PowerLanguage facility(ability to crate new/modified indicators or strategies) as it is free from AMP. If you use DOM only it should be ok. I have tried in the past but it was hopeless but the new MC64 version is a totally new ball game and much more reliable than NT(I use currently).
With their connection Aussie SPI is for 'free'. They have good commission structure as well.
Good luck


Last edited by dlatbm; July 13th, 2012 at 10:56 PM. Reason: spelling
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  #6 (permalink)
Elite Member
Sydney NSW Australia
 
Futures Experience: None
Platform: None
Favorite Futures: None
 
Posts: 2 since Jun 2012
Thanks: 6 given, 0 received

Hi guys,

Thank you for your helpful responses

I have a question about funding my account. Say I'm trading the US Markets, would I require funding in USD? Or can I just wire them AUD and they'll convert it (at a good rate) for me? If I'm funding in USD, I'll have to first convert my AUD to USD with my bank, which I believe will take a good 4-5% spread from it.

Any advice would be much appreciated!

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  #7 (permalink)
Elite Member
Ireland
 
Futures Experience: Intermediate
Platform: Ninja Trader
Favorite Futures: CL GC FDAX
 
Posts: 118 since Jul 2012
Thanks: 85 given, 48 received

Ninja Trader, mirus/RCG, Zen fire. thats all you need. Oh ya you might want to consider collocating your system to chicago when you get really serious. But mirus are a disaster for providing collocation. It just seems to drag on forever with them and still they dont get you hooked up. There are others. When i have tried them i will post more on this.

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


elves377 View Post
Hi guys,

Thank you for your helpful responses

I have a question about funding my account. Say I'm trading the US Markets, would I require funding in USD? Or can I just wire them AUD and they'll convert it (at a good rate) for me? If I'm funding in USD, I'll have to first convert my AUD to USD with my bank, which I believe will take a good 4-5% spread from it.

Any advice would be much appreciated!

This would be up to your broker, their setup for non-usa clients.
Decide on your broker first and then follow instructions how to transfer the money. You account should be smaller initially so you can always top up. Do not move big amounts of money yet. If you are a successful trader then you may not need to top up. Evaluate the situation in a few months time.
Good Luck

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  #9 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,061 since Sep 2010
Thanks: 1,934 given, 2,787 received
Forum Reputation: Legendary


elves377 View Post
Hi guys,

Thank you for your helpful responses

I have a question about funding my account. Say I'm trading the US Markets, would I require funding in USD? Or can I just wire them AUD and they'll convert it (at a good rate) for me? If I'm funding in USD, I'll have to first convert my AUD to USD with my bank, which I believe will take a good 4-5% spread from it.

Any advice would be much appreciated!

There are many smaller outfits in foreign exchange physicals that would take a smaller spread.
They are in most big cities, and the banks are the worst for conversion.
I see 1000 pips spread at times.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #10 (permalink)
Elite Member
Ireland
 
Futures Experience: Intermediate
Platform: Ninja Trader
Favorite Futures: CL GC FDAX
 
Posts: 118 since Jul 2012
Thanks: 85 given, 48 received


elves377

Do NOT trust any of the brokers to do it for you and give you a "good rate"

I think to keep it simple you should keep your trading account transfers all in the same curr.

There are plenty of currency outfits out there who will always give you better than the rack rate. If you get on the blower to a couple of them then ytou can get the game of ping pong going between them and see if you can hammer any more out of them.

Heres a couple of them that I have used and they always served me well. Currency solutions; Smart currencies. Both in London. There must be similar over there where you are.

All the best.

BTW, did you say you intend on trading futures in Chicago?

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