Backup or Replacement Futures Broker to IB

Quote from InTheZone:

Hello,

I'm currently looking for a backup e-mini S&P futures broker to IB, or perhaps even a replacment for IB as my primary futures broker.

Any suggestions?

I've perused the broker ratings on EliteTrader, as well as past threads, but haven't really found a consistently recommended futures broker.

As a backup broker for IB, I am looking for the following:

+ Ability to answer the telephone and execute an order quickly when there may be a system failure, which may cause many customers to call at the same time.

+ Safety of funds on deposit with the futures firm


As a replacement broker to IB, I am looking for:

+ Low commissions. To start I'll be doing about 60 round-turns a month, with each trade consisting of 1 to 4 contracts.

+ Reliable online order execution system.

+ Fast order executions

+ Safety of money deposited at the futures broker.

+ Daily sweep of excess cash into a SIPC protected money market fund, or into the segregated account.


Thanks for your help.

-- ITZ
More...

I use eLocal Trading... $5.98/rt, J-Trader, support has been excellent... worth a look.
 
Quote from high99:

I can second that. I recently switched from IB to MB. The customer service "attitude" at MB is as good as it is as BAD at IB. I never had any real problems with IB, other than the fact that their customer service attitude was the absolute worst I have ever encounter with any company in any industry. You would think that the IB reps are chained to their desks and beaten. And please, none of that over used crap about, "well if you want your hand held, go someplace else". A pleasant voice on the other end does wonders for PR. That is not very much to ask.
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costs more,

"Mash potato(e)s and Cornbread, ain't got no Beans" --- Cafeteria Lady on Cedric The Entertainer
 
Nitro,

I saw you use IQFeed

Check this out : www.dtniq.com

If you prepay for 1 year you get almost the same price ($45,-)
The feed is the same but it has a lot of additional features (Eurex Feed for example)

(I tried to PM you but box was full)



Site for IQFeed : www.interquote.com
 
Hi All,

So far the candidates I have for further research as a backup to IB are:

MB Trading
Preferred Trade
eLocalTrading

Any other suggestions?

Thanks.

-- ITZ
 
I've been looking over MB Trading. I like their fee structure (low costs) and the universal accounts that pays interest on cash held on deposit.

One negative however is the limited range of traded futures products. Through MB Trading you can only trade:

Nasdaq 100 E-mini /NQM3
S&P 500 E-mini /ESM3
Russell 2000 E-mini /ERM3
Fortune E-50 /FEM3

I probably won't open an MB Trading account for that reason, as I may someday trade other types of futures contracts through IB and will need a backup broker that can trade them as well.

-- ITZ
 
Quote from limitdown:



uh, who do you use? :D:D:D

(actually) what's their websites?
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Sorry,

I totally missed this reply.

I use IB for spoos.

nitro
 
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