I wonder if there have been any product additions recently. Im currently looking for a new broker to use for options on futures and futures spreads. Are there any Eurex or CFE products on the Futures+ platform? Would Futures spreads be available (calendars, flies or even bundles)
I just opened a (equity) options account with TS but my needs are very basic I just want to position/swing trade spy calls and puts and i was trying to avoid dealing with a different platform as I already have a futures acc with TS, , I did a little research on option brokers and I would suggest You look elsewhere if You need flexibility, Although TS offers all kinds of strategies including naked plays and margin You'd need separate accounts for equity options and futures options also their commission schedule is not one of the best and not that many products are offered I would suggest You research IB, lightspeed and options house and maybe TOS They're probably a better fit for You.
Im mostly active in futures and the options on these futures.I heard theyre not available on the TS platform but the Futures+ platform was designed exactly for that which got me interested. My only concern would be a possible limitation to CME products on Futures+. How would you compare IB to TS in the futures department, IB probably cheaper and all products on one platform but it looks like they try to shy away options sellers for some reason, margins can be astronomically high compared to exchange minimum. Not sure if TS handles them more efficiently.
I'm not very happy with TS lately, too many hiccups with this option account opening. I asked to be put on the per contract commission scheduled They put me on that per trade scheduled You can only switched between schedules once When I called to Ask Them to fix the mistake They did but said I had burnt my one time switch option even though I insisted I cleared stated that I elected the per contract. And I only had one trade on that account by then.
They have a commission rebate promo going on right now 20% discount up to $500 until march 2016 for new accounts. For some reason They deposited $500 on my futures account which is independent from the options acc and that's not even how the rebate works they give You credit (rebate ) as You use it and any unused portion will expire by march 2016 I had to call and warn Them of Their gross mistake. Makes You wonder how sophisticated/reliable is Their system and how safe are your funds.
I asked the (Options specialist) representative a few basic questions about data and the options platform and He didn't know the answer (or didn't care) sent me a website general option info link that had nothing to do with my questions, after exploring the platform for 1/2 hour and a quick data search I could have done a better job.
The futures platform is ok again it all depends on your needs and how much coding You require, I,m not familiar with NT and I'm not a programmer but most people who used both will say NT is a superior product for coding and execution which is not a main concern for me as I enter and exit limit only my stop loss is market but I usually just get slippage when it should be expected B/O or wild swings, reason I chose TS in the past is because I wanted to use this one volume indicator that was said to be erratic on NT but ok on TS I'm actually considering ditching that indicator and my charts will only have price and volume. According to the NT vendor on this forum poor performance indicators are due to poor scripted codes. Same could be the case with Sierra charts and other popular platforms I can't give You solid reviews or comparisons among platforms as I m not familiar with Them and my trading doesn't require any coding.
About IB the last time I used Them was over a decade ago so I don't how They fare now, but They're by far the broker that offer the most products also very flexible account structure (universal account) They even have a feature that prevents You to place the trade that would render your account to be tagged pattern daytrader if your balance is below 25k.
I don't know Why IB would restrict option sellers but many brokers will have restrictions with margin and naked plays some will ask You for a solid record many won't even offer those features but yeah I noticed a trend with IB They seem be more and more concerned with preventing potential losses and regulations. One of the things I read on this forum is that They are restricting futures daytrading on IRA accounts. Something that could potentially disqualify your IRA but the actual IRS is completely vague in setting the parameters for such disqualification.
There are many brokers and platforms reviews in this forum read Them. You might surprise yourself You might find that the features You're looking for are not that important and features that You didn't think about it may be worth digging deeper.
great review, thanks a lot. Now that makes me think to look after different options. I called them, looks like the futures and options accounts have to be opened separately, so no chance to cross margin stuff. Have you had the chance recently to check the Futures+ for any other exchanges (Eurex, CFE etc). Is it really that slow when sending orders?
Yeah I said that on a previous post equities and futures options are separated accounts, no is not slow just not the fastest and that depends a lot more on your end and how your connection is set up. Unless You're scalping it shouldn't affect your bottom line.