New Trader. Please Suggest a Broker

M

mnkc

Hello I am new to trading. I am basically interested in position trading in futures with a typical holding period of weeks to months. Please suggest a broker who is suited to my needs. Broker reliability is very important to me. So far I looked at Think or Swim because of its strong feedback from users. I could not find much information about their futures products. Thanks for the info.
 
Hi suedeuno

Mostly interested in the grains. Do they charge any inactive fee or software fee? How is your experience with TOS? Thanks
 
They have corn, wheat and soybeans on CBOT. They do not charge any inactivity fees or software fees. Their is no extra charges for data. The price they give you is all in. My experience has been great with TOS. You won't find quicker responding support and don't be suprised if Sosnoff (head man) emails you personally on things related to trading. They're committed to putting money into their products and add new features every month or so. We're told new products are coming mid-March. Hope this helps.


Quote from mnkc:

Hi suedeuno

Mostly interested in the grains. Do they charge any inactive fee or software fee? How is your experience with TOS? Thanks
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I vouch for their great customer support. They respond within hours if not minutes and you usually hear back from management. They are always willing to help you out.

Live chat is also a great plus during trading hours.
 
Quote from mnkc:

Hello I am new to trading.
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Assuming the above statement is true, the last step in learning to trade is finding a broker which meets your needs - not the first step. In fact, what you perceive 'your needs' to be now will most assuridly change as you gain knowledge.

Crawl. Walk. Run. Then Fly.

- Spydertrader
 
If you are new to trading, then you absolutely should not be trading futures. You should start out by trading odd lots of highly liquid ETFs like QQQQ or SPY. This way you can limit yourself to small losses. You will need to take a lot of losses in order to learn, so you need to make sure they are small losses. Futures trading will force you to incur larger losses, so that you will be more likely to get wiped out before you can ever become profitable.
 
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