Best daytrading broker with lowest margins !!!

V

virgin

Hello Futures Fellows,



If you are looking for a fast daytrading broker
with low commissions (starting at 10,-$ RT per
contract and lower when daytrading volume) and
the lowest daytrading margins around 1/5 of
normal margins then go to http://www.daytrade4less.com
But do not choose the PMB system but the Patsystem
that offers market depth and 2 seconds fills.
I'm not in anyway affliated with them.
Just look for yourself.
If anybody knowns something better then this
broker, please let me known !!!



Regards,
Virgin.
 
please back up the statement 'best daytrading broker..."

it is a little too easy to state that, if you are a customer and not affiliated to them, please share your experience with details :)

vpiNeo
 
I'm not sure $5/side is such a great deal. With IB I pay $3/side for the mini. IB offers the standard margins, but that is more than enough for me, at least for now. I also get great executions with them.

I like the J-trader interface (Patsystems), but if you want this, you can get it from E-local Trading ( http://www.elocaltrading.com ) for less. I have a friend who trades with them that pays $1.50/side and gets "daytrading" margins. But I have never used them and can't speak for their service.

Kirk
 
We have similar trading styles and I make about 2-5 round trip trades per day. Only 1 contract at a time, so in a month it may range from 40 trades to as high as 100 or so. Not much as far as trading volume goes, so they must not have stiff requirements for volume. I think he had to negotiate the rate, so you will probably have to ask for it. They also charge the regular exchange fees, so after that its only about 80 cents cheaper than IB. The attraction for him wasn't the commissions, but the added margin. He can now put in only the minimum $7500 they require, keeping the rest in t-bills or whatever and still be able to trade up to 3 contracts if he wants. Another benefit is that I think he gets the same margins for the naz mini as well, which is about double the S&P mini under normal margin requirements.

Again, I haven't used them and have been perfectly happy with IB. I may look at them in the future, but for now, 14 to 1 margin or so (the standard mini requirement) is plenty of gun powder for me.

Kirk
 
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