Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

bourgeois pig

Shopping for Brokers

Recommended Posts

Hello mad scientists! I am shopping for the first time for a online brokerage account. I realize that there are different pros and cons with even you most reputable brokers. I intend to trade the ES and perhaps the NQ to begin my trading journey. At this point I have my choices narrowed down to ATCbrokers, OEC, or GoFutures. There transaction fees all seem to be in the ballpark of 5 dollars roundturn after the proverbial hidden fees have been implied. Ameritrade is around 7.50 round turn. Could you pleaqse point me in the right direction in regards to a suitable broker........? Thank You:)

Share this post


Link to post
Share on other sites
Hello mad scientists! I am shopping for the first time for a online brokerage account. I realize that there are different pros and cons with even you most reputable brokers. I intend to trade the ES and perhaps the NQ to begin my trading journey. At this point I have my choices narrowed down to ATCbrokers, OEC, or GoFutures. There transaction fees all seem to be in the ballpark of 5 dollars roundturn after the proverbial hidden fees have been implied. Ameritrade is around 7.50 round turn. Could you pleaqse point me in the right direction in regards to a suitable broker........? Thank You:)

 

As someone just starting out you may want to consider an IB (introducing broker). Usually the service is better, and they are more willing to spend time with you answering questions... because you don't know, what you don't know.

 

Due diligence is always prudent. The NFA website will allow you to search for any actions or fines imposed on the company. Even after you've chosen a broker, it's good practice to check this out periodically: NFA - National Futures Association

Share this post


Link to post
Share on other sites

ATC is an IB. Are their benefits to not trading with an IB for the more experienced trader? I have read about this subject and it leaves me wondering why any one would trade with a dealing desk or market maker...... unless of course their was something that they offered that IBs did not. Please excuse and correct any misconceptions I may have. I have read many books about trading and simulated historical data but have no real time experience and probably possess a few misconceptions.......Oh, and thanks for the reply!

Share this post


Link to post
Share on other sites
ATC is an IB. Are their benefits to not trading with an IB for the more experienced trader? I have read about this subject and it leaves me wondering why any one would trade with a dealing desk or market maker...... unless of course their was something that they offered that IBs did not. Please excuse and correct any misconceptions I may have. I have read many books about trading and simulated historical data but have no real time experience and probably possess a few misconceptions.......Oh, and thanks for the reply!

 

There are FCM's that offer full service to retail clients generally you may be offered better commission rates. Depending on how the relationship is structured an IB may be able to offer the same rate as the FCM, but usually it's going to be a slightly higher rate. I've been trading for several years and I prefer IB's just because I like the service level. I mean, I can get on the phone and be talking to the president of the company.

 

I've never explored it, but if you purchase your own trading platform, forego high end service, where the only phone number you have is for the trading desk the commissions may be cheaper still.

Share this post


Link to post
Share on other sites
after the proverbial hidden fees have been implied.

 

NinjaTrader (the charting platform) have just launched their own brokerage arm (well, bought out Mirus Futures).

 

Their marketing angle appears to be "no hidden costs, no volume tiers, just transparency" - might be worth a look?

 

BlueHorseshoe

Share this post


Link to post
Share on other sites

When I started trading I was introduced to Interactive Broker [Josh Harris, agent] by my mentor/coach. He can walk you through the entire situation and answer any questions you may have. The PLUS: You can try out the DOM and charts for a month then make a more educated decision .... USING REAL TIME DELAYED DATA and not EOD [as with most brokers out there] which will not show you much of anything, which will give you a feel for the market you intend to trade in real time. And if you need more time just drop him a note or give him a call and he will add time to the DEMO. Just make sure you open the platform daily so you do not get timed out. He can be reached by dialing: 800-574-7040.

Hope this helps!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Similar Content

    • By George_wilson8
      I invested 60% of my retirement payment on Coin Bull and Paperex with the mindset of getting it multiplied and enjoying a better retirement life. It was sweet and smooth from the start, withdrawals were easy and consistent until it gets to a point I started to be denied withdrawals and that was how I lost all money, I couldn't get my investment amount back not talk of the bonuses. I contacted several lawyers but it was all waste of time and money, they couldn't render an inch of help. God so good to my old self and family, I later met with a certified binary options recovery expert that helped me recover my money within 5days from the brokers(Coin Bull), it was worth it, he was able to retrieve my funds. If you have found yourself in same situation as me you can contact the expert on '' Hacknet1seven1( A T)p r o t o n m a i l ( d o t c o m )" also he can render any other desired hacking services, I can assure he would be able to help you just as he helped me, you can give him a try if you don't mind. Binary options brokers shouldn't get away with this.
    • By JustForex
      Hello,
      My name is Yana. I would like to establish here JustForex company.
      I would like to tell you a little bit about our company and gather a community of traders here and if you have any questions, I would be happy to help you here.
      JustForex offers several trading account types with a wide choice of trading instruments and everyone can find the most suitable one according to his preferences.
      Trading conditions: spreads from 0 pips, leverage up to 1:3000, mobile versions of MT4, order execution from 0.05 s.
      Please feel free to contact me here if you have any questions.
      And the question for traders here. What Forex broker do you trade with? And why? Let's discuss.
    • By adamal7
      Hello guys,
      I'm starting to swing trade commodities, especially soft commodities (corn, sugar, coffee, cotton, soybean, ...). I'm also checking gold and oil.
      My problem is I'd like to know what is the best broker for trading those markets (regulated, large commodity choice) ? For CFD trading.
      I'm thinking of IC MARKETS who are very good with forex and have good trading conditions.
      The concern I have is that I need a broker that offers MT4 as a platform, and also I'd like to be able to open mini lots positions for a better risk management.
      As a swing trader, I'm less concerned by the spread but looking at the financing fees.
      Wish you have a nice day, and thanks in advance.
      Alexandre.
  • Topics

  • Posts

    • USDCHF Bounces Off Lower Prices On Correction.   USDCHF bounces off lower prices on correction the past week. This has opened the door for more gain in the new week. Resistance resides at the 0.9800 level. Above here, resistance lies at the 0.9850 level and then the 0.9900 level. Further out, resistance comes in at the 0.9950 level. On the downside, support is seen at the 0.9750 level with a turn below here opening the door for more decline towards the 0.9700 level. And then the 0.9650 level. Further down, support resides at the 0.9600 level. All in all, USDCHF remains biased to the upside on further corrective strength.    
    • Can I ask what broker are you using for trading oil?
    • Hey, I am new to this. Anyone use software like this?? Is it legit?? 
    • Extend Trend Lines is a VTL Client-side indicator for elongating the trend lines on the chart to the last bar. Traders usually draw trend lines on the chart and use them as support resistance levels. When a trend line breakout happens, it is the beginning of a new trend. One issue with trend lines drawn manually on the chart is that they do not get elongated when new bars form on the chart. It should be manually adjusted with new bars.  Extend Trend Lines VTL Indicator takes care of this situation. It automatically adjusts all trend lines on the chart to the last bar. It monitors the trend lines on each new bar and adjust them.  This is useful when the trader opens the terminal on a new day and the old trend lines are short and need adjustments.   ExtendTrendLines.zip
    • Previous day high low is a Client Side VTL indicator that draws the last day’s high, low and today’s open on the chart. When day trading, the previous day’s high and low are important reference points or support resistance levels. In a bullish market price breaks above the previous day’s high early in the day and continue to trade above that level.  In bear markets, price break below the previous day’s low early in the day and continue to trade below that level.  Trading ranges form when price fails to break the previous day’s high or low successfully.  This info alone can improve your trading results as this give you a clear vision of what is likely to happen today. Breakout trading strategies work best when price is above or below yesterday’s range. Trend following strategies also work best in this situation.  When price is inside yesterday range, counter trend strategies work better. Oscillators like RSI and Stochastics work best in this situation.   Prev_Day_High_Low.zip
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.