Looking for a good brokerage service

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Soph
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Looking for a good brokerage service

Post by Soph » Sat Dec 04, 2010 4:22 pm

I'm trying to track down a good online broker. Currently I use Interactive Brokers however I am looking to move. I trade only in futures.

If anyone has a broker they can recommend it would be much appreciated.

RedRock
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Post by RedRock » Sat Dec 04, 2010 10:05 pm

What needs do you have not currently satisfied? What do you want your broker to do for you? Is it important if the broker is a primary clearing member or merely a introducing broker? Are you seeking a wider instrument universe?. Do you plan to trade LME forward contracts? South African markets? What do you want to pay RT? What type of order entry method do you seek? Are you 'large' enough to move beyond the retail level? etc etc etc

Soph
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Post by Soph » Sun Dec 05, 2010 9:34 am

This is primarily a "support" driven move Redrock. I've had a few less than favorable experiences with their support team and am contemplating making a change as a result.

Insofar as the services and products IB offers, they meet my needs for the most part. This is not driven by me outgrowing that environment, or anything like that. I would be looking for a broker that offers access to a similar range of futures as IB, however my focus is mainly NA and European futures contracts, with a few of the more common far east contracts thrown in. But generally speaking its something similar to IB that I am interested in as its not a product or service limitation that's driving the move.

RedRock
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Post by RedRock » Sun Dec 05, 2010 11:39 am

There were times IB went to bat for me in a strong way. Other times I was told we had the share the hits sometimes, in exchange. Regardless if I liked the outcome, It was not unfair. Stabile and deep... ???

I had Open E-cry for a test. Had rude and patronizing CS. Others here say they are wonderful. Their platform is more advanced than some... They have changed hands a few times. ???


I am impressed with, but have never actually traded on... ???
http://www.photontrader.com

MFG had good fills and traditional order desk support. Great coverage, but I could not justify the commissions. I believe they have bought out or partnered with Barry Linds' firm to manage their retail end. ???

Hopefully others will opine with other possibilities...

7432
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Post by 7432 » Sun Dec 05, 2010 3:01 pm

if your issue is market infomation or structure, the people at GLOBEX have been fantastic lately. they are happy to help customers with quick call backs, returning emails and staying on top of something until a solution is found.
in general I've found the CME Group to be very accomodating over the last few years with a large support staff.

but if you just want someone to talk to about trade issues MF Global has lots of people, even phones on what is left of the trading floors. and as redrock pointed out are with lind waldock for individual traders.

I use FC Stone for some markets still since IB doesn't let me use floor brokers for give ups in the softs. they have an electronic platform but its quite dated.

Soph
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Post by Soph » Mon Dec 06, 2010 5:35 pm

Thanks for the detailed info guys, very much appreciated.

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