Limit/Market Order for Futures Contract Triggered by Cash Indices

M

MGB

Which retail broker gives me the ability to submit a Limit/Market Order for a Futures Contract triggered by the Cash Indices?

For example, when SPX cash indice hits 3,000, submit a Limit Long order at 3,000 for 2 contracts of ESU20.

Another example, when RUT cash indice hits 2,000, but submit a Market Short order for 4 contracts for NQU20.

(to be clear, SPX cash indice, not SPX option).
 
This has little to do with the broker. Generally it is the trading platform that can achieve what you are after. You just need to pay the data fee for the CME exchange as well as the data fee for whatever cash market you are interested in.

Then put both markets up on the platform and create a rule to do what you need. Most modern platforms can do this.
 
Most modern platforms can do this.
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Thank you, can you name one?

Tradovate - No
E*trade - No
Power E*trade - No
thinkorswim Desktop - No
thinkorswim Web - No
thinkorswim thinkscript - Could be coded but thinkscript doesn't have automated execution
Interactive Brokers Trader Workstation - Maybe(?)
Interactive Brokers Web Trader - No
 
Sierrachart allows a chart to be used for display of one symbol while trading from THAT chart trades a different symbol. Simple example... chart displays ES but orders placed from that chart are MES.

SierraChart also has a robust C/C++ derived programming language where this type of trade ersatz can be coded.
 
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MGB said:
Thank you, can you name one?

Tradovate - No
E*trade - No
Power E*trade - No
thinkorswim Desktop - No
thinkorswim Web - No
thinkorswim thinkscript - Could be coded but thinkscript doesn't have automated execution
Interactive Brokers Trader Workstation - Maybe(?)
Interactive Brokers Web Trader - No
More...

These are some I'm familiar with
  • CQG Integrated Desktop
  • CQG QTrader
  • ProRealTime
  • Ninjatrader
 
Here, I would say that trading orders tend to vary in terms of time-frames while execution, conditional, and unconditional. Due to these factors, they have different brokerage charges, fees, and other related costs.
Both the limit and market orders have some additional charges linked to them. The brokerage charges are low when I talk about market orders, but the limit orders are a little complicated, and thus the brokerage charges quite higher.
You must know what budget you are happy with and select an order type at first. Once you have selected the order type you want to go for, you will be able to identify the best brokers around you easily.
 
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