yeah i have both right now, obviously i wasnt comparing capability as TT is a rolls royce product. If you simply want to swing trade oil calendars TWS is fine and a big cost saving.
Platforms with ZERO charge (or very low charge) that allow you to trade exchange spreads
- Thread starter propwarrior
- Start date
yeah i have both right now, obviously i wasnt comparing capability as TT is a rolls royce product. If you simply want to swing trade oil calendars TWS is fine and a big cost saving.
And that is precisely why I suggested the specific alternatives of a Tier 1 FCM's 24 hour execution desk work your orders, or leasing a very capable platform that readily supports all available exchange spreads. TT is not your only option for exchange spreads - CTS T-4 has access to a much broader suite of exchange Spread products than IB (last time I checked) and if all you need is a DOM then at 50 cents a turn capped at $500 what's the downside ? Seriously. I don't get it. Penny wise and pound foolish I say.
Furthermore, you don't want to just swing trade oil calendars. You want to swing trade Brent and gas/oil and heating oil calendars as well. And butterflies. And Condors. And play out in the forward curve where there's some edge.
Yes I understand TT is not my only option to trade exchange spreads thats kind of the point of this thread, I pointed out 3 other platforms TWS, Firetip & Transact AT that allow them, I was asking for more, others seem to have answered my OP.
ok here is the hard maths. $100k account. If I use CQG Trader or CTS I will pay $6000 over the course of a year in platform fees. So before PNL, clearing, nfa, data & commission my account is down to $94000 right off the bat, thats 6% wasted right away. By using Firetip or another free platform I save this money. I am not willing to give up 6% p/annum growth when I can use an alternative product that does the same job, does not have the same capability and all the functionality but does the job.
I understand you are in the trade education business, that's fine. I have over a decade experience trading energy markets as a pro. thanks.
Which products specifically can i trade with TT or CTS that i cannot trade via Interactive Brokers? Thanks
T4 is outstanding and most FCMs offer it on a per contract basis.
Most ETers don't have $500 in account value, much less $500/month available for fees and expenses.
No, there is zero charge. When he says its capped it means your FCM bills you per contract "up to the cap". After the cap you don't get the .50 charge anymore. It's EXACTLY what the poor ETer needs since they won't have to cough up any money up front nor will they have to pay annoying monthly charges when they take a break from trading.
I have yet to see an Futures brokerage offering a free execution platform who had a Risk Department competent enough to correctly margin credit offsets for exchange recognized inter and intramarket spread positions. Maybe there is someone out there who does - please by all means make yourself known.
It can be rather inconvenient if your broker treats each leg of your spread as outright risk.
It can be rather inconvenient if your broker treats each leg of your spread as outright risk.
Actually, all the Energy Pros I know use WebICE. I've personally traded implied spreads through WebICE since the mid-2000's. Which is free - if you're qualified through ICE and get a username.