You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
the best futures broker
- Thread starter lite
- Start date
Well thats very interesting, although, that entire page seems to only refer to securities and not futures. It so happens that I actually have an appointment with Mr. Green scheduled for tomorrow afternoon, so I'll be sure to ask him about this.
If you trade in an entity, like an LLC, I've always been under the impression that "guaranteed payments" to members are subject to SE tax but not necesarily capital distributions.
If you trade in an entity, like an LLC, I've always been under the impression that "guaranteed payments" to members are subject to SE tax but not necesarily capital distributions.
please do let us know what info you can find out.
thanks.
thanks.
Quote from Jachyra:
Well thats very interesting, although, that entire page seems to only refer to securities and not futures. It so happens that I actually have an appointment with Mr. Green scheduled for tomorrow afternoon, so I'll be sure to ask him about this.
If you trade in an entity, like an LLC, I've always been under the impression that "guaranteed payments" to members are subject to SE tax but not necesarily capital distributions.
Quote from Jachyra:
Advantage Futures (www.advantagefutures.com) is pretty big and very well capitalized. Not quite as well as Man or Rosenthal, but if you look at this list from 2004 (I'm sure a more recent one exists, but I just did a quick search), www.futuresmag.com/reprints/218866.pdf, you can see that they're just a few slots lower than Interactive Brokers. Plus, they're clearing members of 4 different exchanges....which in my mind makes then pretty credible.
As far as the commissions go, I'm not certain what their rate is without volume. I don't think its anything special, plus you get zapped with X_TRADER pro to the tune of $1250/month. However, if you do volume, or you keep a ton of cash in your futures account and want the peace of mind of feeling as though its pretty safe, I personally think Advantage is the best and would probably not trade anywhere else (although, as I said, I do trade with TransAct and think they're a great operation as well).
As far as their technology goes, I have a buddy who runs a trading arcade. He told me this story about this time that Advantage called him up one day out of the clear blue to let him know that it looked to them that there was a bunch of noise on their connection, and that it had been gradually getting worse throughout the day. He told all of his traders to think about closing out any big positions, and 20 minutes later their connection went down all together. He said that he never would have expected his FCM to notice something like that, but claims that they saved him and his traders a ton of money just from being proactive. I know for a fact that Advantage has a lot of traders who love trading with them for all sorts of reasons like this.
When I was with them a couple of years ago after they took over FFastrade, their R/T was $3.32, with a $550/mo. platform fee that you could not trade your way out of.
Quote from wareco:
When I was with them a couple of years ago after they took over FFastrade, their R/T was $3.32, with a $550/mo. platform fee that you could not trade your way out of.
Yah...that is one of the reasons why I primarily trade with TransAct. They have a meager $400 minimum commission instead of a platform fee, so if you do even the slightest bit of volume you basically trade for free. Plus they offer $0.55 per side with no volume committment right in the door. I don't know anybody else that does that. And their first price break is only at 3000 sides per month....and then they get down into the $0.35 per side range. Plus, I get my equity runs by 8:15pm PST same day, so I can go to bed knowing that all my trades are correct instead of having to worry about checking them before the market opens the next morning.
Quote from Jachyra:
Yah...that is one of the reasons why I primarily trade with TransAct. They have a meager $400 minimum commission instead of a platform fee, so if you do even the slightest bit of volume you basically trade for free. Plus they offer $0.55 per side with no volume committment right in the door. I don't know anybody else that does that. And their first price break is only at 3000 sides per month....and then they get down into the $0.35 per side range. Plus, I get my equity runs by 8:15pm PST same day, so I can go to bed knowing that all my trades are correct instead of having to worry about checking them before the market opens the next morning.
Exactly why I switched to Transact. They had some problems several weeks ago, but have been back to their usual rock solid self.
Quote from wareco:
Exactly why I switched to Transact. They had some problems several weeks ago, but have been back to their usual rock solid self.
They took a bit of a hit recently on these forums because of a lot of system issues caused by those TradeMaven jokers sucking up a ton of bandwidth (something to do with their tick-by-tick studies). Now that they've fled to Man (which is a joke) everything is back to normal. That was the only software issue I've ever seen since I've been trading with them and even that didn't affect me at all. I think it really only affected traders trying to use TradeMaven through TransAct. Otherwise, rock solid and very stable.
com 'on 3 or 4 months ago transact's software either threw trade maven or threw there own pike was down all the time. maybe they fixed it. but again for somebody who positions with futures there $400 min commish or 367 r/t's makes there gig exp. amy people only trade 100 r/t's a month were that would mean transact instead of $3.42 r/t for the es would be over $4