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Newbie. Some advice needed about brokers

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I am a new trader looking to open my first brokerage account. I spend the last 7 months demo trading and studying the markets. I read about the emini contracts and it looks like an ideal market to trade for someone like myself.

 

Im looking for some advice on brokers that offer cheap commisions. What is a good commision rate? Thanks

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If you are looking to trade the eminis, I would say anything under $5 roundtrip for commission is reasonable. Anything over it is too much.

 

I agree. Also look into the execution of your broker. You dont want delay when executing an order.

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Some of broker might be sound too good to be true. If you want to get a good broker, find information from broker reviewer. Check how those broker is being accused and how it is being answered by the admin or by the traders.

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Trusted broker is the broker that not offering funny bonuses. They have a good review from the traders or non-traders. The traders that can give good review and answering to non-trader of that broker. That shows how good the broker is.

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I switched from TradeStation to Daniels Trading, their platform is called dTPro which comes from OEC. Commissions are $5.90 but I think low commissions is not the only thing to go by. My broker does not charge me for the platform and I pay no fees for data feed. With TradeStation I had to pay for the platform (if not enough trades) and data fees to several exchanges, their commissions were much lower but if I called, I would get bounced around, my broker answers when I call.

You are limited to only 10 charts with dTPro.

 

You might want to look at the Russell 2000, there are many articles showing that it trends better. Crude Oil beats them both on potential profits though.

Edited by raul
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