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Battle of brokers: Velocity vs OEC! Which one to choose?
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Battle of brokers: Velocity vs OEC! Which one to choose?

  #21 (permalink)
Trading Apprentice
Cardiff, UK
 
Futures Experience: Beginner
Platform: Sierra Chart, Think or Swim
Favorite Futures: TF
 
chalupsky's Avatar
 
Posts: 11 since Jun 2012
Thanks: 27 given, 1 received


Big Mike View Post
We are off-topic. But you really need to watch:
Webinar: Where to start as a trader? (Part I: Instruments and Brokers)

And read every post here:
https://futures.io/elite-circle/11125-ask-any-trading-question.html

Then you'll be in a much better position to know.

Mike


OK, thank you!

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  #22 (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


chalupsky View Post
Thanks David,

So I guess I just might alter the question to: "What would the 'best' broker be for a UK based trader"?
I know there is IB, but they don't provide tick data as far as I know and the account minimum is $10k, I have $5k...so that's at least two obstacles in the way I know of...

PS: I know, although, looking at brokers websites is one of the criterions, not the only one I've seen a couple of websites that looked like they jumped out of 1990 and didn't belong to the 21st century, especially when you want to manage your account online as well

I also support Mike that you should have more capital since, even if you trade sim initially, it is not the same when you trade your own money.
You misunderstood me; check Velocity perhaps they allow UK based residents.
Also, it depends what instruments and how you are going to trade. Sometimes, IB's data is enough if you trade off hourly or minutes charts.

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  #23 (permalink)
Trading Apprentice
Cardiff, UK
 
Futures Experience: Beginner
Platform: Sierra Chart, Think or Swim
Favorite Futures: TF
 
chalupsky's Avatar
 
Posts: 11 since Jun 2012
Thanks: 27 given, 1 received



dlatbm View Post
I also support Mike that you should have more capital since, even if you trade sim initially, it is not the same when you trade your own money.
You misunderstood me; check Velocity perhaps they allow UK based residents.
Also, it depends what instruments and how you are going to trade. Sometimes, IB's data is enough if you trade off hourly or minutes charts.


Let's say that $5-10k is not the only money I have but it's the allocated risk capital, so I can say I am aware of that, although I don't have to but I really want to start one day... I'll either win or lose...I firmly believe in the first!
Yes, I'll contact them myself, for now I know of a UK based trader who trades through them and looks like it's OK
I primarily trade TF, and as I said before, although, I know the real deal will be a lot different, I've been patiently sim trading for nearly a year know and even though I have made some mistakes, I know I can follow the plan! I think it's time to get wet.

Many thanks for your recommendations.

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  #24 (permalink)
Elite Member
Detroit, MI
 
Futures Experience: Master
Platform: Sierra Chart
Favorite Futures: NQ, CL, ES, GC
 
Posts: 59 since Jul 2011
Thanks: 8 given, 49 received


chalupsky View Post
Hi all experienced traders out there,

I'm looking to go live in a few months and am currently contemplating which broker to choose? I've done some research and I've come up with these 2: Velocity and OEC, my platform is and will be Sierra. So the question is, which one of these two brokers is according to your experience better all and all?

Many thanks,

Jan

Neither, go with Optimus. I have been around a lot and they are simply the best.

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  #25 (permalink)
 Vendor: www.orderflowdashpro.com 
North Carolina
 
Futures Experience: Beginner
Platform: NinjaTrader, Tradestation
Favorite Futures: es
 
Posts: 378 since Nov 2011
Thanks: 116 given, 364 received

OEC has a rock solid DOM. Very nice. Good experience with them. Need better reporting.

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  #26 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Advanced
Platform: TradeStation, Think or Swim, NinjaTrader
Broker/Data: DTN
Favorite Futures: options and stocks
 
elixir's Avatar
 
Posts: 22 since Feb 2012
Thanks: 9 given, 11 received

Velocity is very efficient.

Sierra is free with them

They Custody with Bank of America

I suggest you start with stocks or ETFs or options.

Futures can cut you up real fast given the leverage and risk for multiple stop outs, churn, pysch damage you could experience.

I use Trading Technologies for clearing. Is there a work around to this?

I use Kinetick for the historic data.

TradeIdeas in Escondido, Ca. is a great resource too.

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  #27 (permalink)
Trading for Fun
Los Angeles
 
Futures Experience: Advanced
Platform: x_trader
Favorite Futures: Stocks
 
ReaM's Avatar
 
Posts: 127 since Mar 2011
Thanks: 96 given, 95 received

Always have money divided into several accounts. You don't really need to choose anything in this business. You can have it all! I like OEC Dom, too.

(The reasons for this is internet connection loss, computer failure etc - all happened to me several times! I would then open a short for my long position that I can't close. Over phone it takes 5 minutes to close a trade and 5 minutes is damn long.)

As far as the thread discussion goes: you have to start somewhere. The time is always a pressure and life is short. I never papertraded and I am glad I did not. While Mike would want you to start somewhere else (forex is great with Oanda, you can deposite something like 10 dollars and trade pennies, but I strongly advise you against putting any real money into forex), I would say it does not matter. Just go with what you feel is right and if you start losing big, stop, if you win big, we are all happy for you! It is always something like jumping into a cold pool water. You can papertrade all you want, but eventually you will have to jump at some point.

I trade mainly with Velocity, but I have accounts with other brokers. Mirus is great, I have an account with them too.


Last edited by ReaM; September 2nd, 2012 at 10:14 AM.
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