The bucket shops scalp your ass all day long, especially when the market moves. MB just has some connectivity technology they developed and charge you a fee for access, plus they manage your money.
Essentially Ninja and other platforms, such as X Trader are strictly tech companies and by far superior options. X Trader is the tool of choice of professional traders these days. Ninja is a cheaper platform but will often use X's routing. If you clear through Mirus NT run's over Zen Fire feed, also very fast, but not as fast as X. It's quite a thrill using these programs if you have a high end internet connection, you can beat the traders in any bank to the bids/offers. It's lightning fast direct market access. When you trade through a broker or middleman you orders get routed through whatever internet architecture you are on to your brokers server, through their inhouse systems where they gladly scalp you a pip or two, and then to the market. By getting your own clearing firm you cut them out of the picture, don't pay their fees, don't get slowed down by the extra routing and their software etc.
There are many clearing firms like Mirus, Amp, Advantage, GHCO Penson, RCG, etc, registered by the CFTC. They are clearing firms only. Advantage is by far the best option out there. They have serious technology. You contract with software vendor of choice and route/clear your trades through them and you will enjoy the experience.
They aren't broking your trades, or as the brokers like to say, broking you. You get an account with a clearing firm. Then you pay for the software of your choice. X Trader is by far the fastest out there. You get commissions that are a tiny fraction of what you pay through middleman brokers like IB and the bucket shops etc... It's the only way to go if you want to trade without some person in the middle scalping you and robbing you blind. You can get the fastest direct market access available which allows you to compete with the pros in the hedge funds and banks. this kind of thing wasn't available just a few years ago and once you've traded this way you will never go back to getting ripped off by the myriad of crappy online brokers...
Quote from legend4life:
Amp Trading and Mirus Futures both seem to support Ninja Trader fx? How do these compare to MB Trading and IB?
So whats the difference between a bucket shop like gain and an ecn like execution broker like mb?
