the best futures broker

Quote from joeyata1:

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
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Hey, if you say you had a lot of problems with them, who am I to argue with you. All I can tell you is that I trade every day and it never once affected me personally.

I agree with you in terms of them being kind of expensive for a swing trader not moving enough volume to at least cover the $400 minimum commission. Like I said before, if you're not doing that much volume, I think Velocity Futures with free X_TRADER is possibly a better way to go.
 
this board was filled with people having huge problems back in dec and jan. but obviously they fixed it as i don't see anymore.
 
Quote from Jachyra:

Like I said before, if you're not doing that much volume, I think Velocity Futures with free X_TRADER is possibly a better way to go.
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...or Global Futures with their 'transactional model' on X_Trader.
 
Quote from mgarc:

i have a question for those who own or lease a seat in an exchange.

according to robert green

http://www.greencompany.com/EducationCenter/GTTRecTaxTreatmentTraders.shtml

people who are members of an exchange get charged "self-employment tax". as opposed to other types of traders that are exempt from this.

is this in fact true?

that would be a big issue as it might take away the benefit of lower commission rates altogether.

any info/feedback would be appreciated.
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Ok, I just got off the phone with Robert Green and confirmed that this is, in fact, correct. There is no self employment tax on profits from your futures trades, however, if you lease or own an exchange membership, then you do have to pay social security taxes. However, this doesn't apply to the CME's electronic corporate membership under rule 106.R
 
Do Advantage and TransAct pay interest on margin deposits and at what rates? Is there a tiered interest rate structure, like IB?
 
nope none of the smaller companies pay interest on futures cash. the only reason ib does is they sweep it every night back to your brokerage side
 
Thanks, bighitter1.

What if a trader squares his positions daily? Would interest be paid on his account balance?
 
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