Thoughts on a few futures brokers I've used -- From a 25+ Year Trader

  • Thread starter Thread starter C.D.A.
  • Start date Start date
C.D.A. said:
For a new trader, I don't have a problem with that. New futures traders don't truly appreciate the leverage they're using, so having to put up $20,000 to control $80,000 of oil is not a bad thing.

In fact, all of the brokers that allow people to open accounts with no minimum and then offer exchange minimum or SPAN are not doing the new traders any favors.

The problem with IB is that they use a one size fits all approach. As a result, any trader that becomes successful enough to trade even in a relatively small size can end up not having enough margin available to make adjustments to their positions. That's a shame, because I really liked IB and their Trader Workstation. Even with its flaws, I think it's better than most of the other platforms I've tried, but that may be because I do a lot of options trading and most little firms cater to enticing small account futures day-traders.
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This bot-handle smells like @Xela, @PPC.
 
C.D.A. said:
Way to jump the gun... I barely got started, and that is exactly the reason I've moved most of my funds (and ALL retirement funds) OUT of IB.

Keep your pants on, man... impatience like that is probably contributing to your failure in the markets.
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What!! Overnight has been here a long time and and and you, ET newbee, slanders him as a market failure after a benign post. Wow!
 
I have traded with OpenECry, TradeStation( RJO ), Crossland LLC( now Wedbush ), IB, Advantage and Phillip Capital. I like IB for market access in general, but my favorite futures FCM is probably Advantage.
 
Margin matters in futures and as everyone says IB is one of the worst, they uplift margins at every opportunity even over night liquidating positions, mostly use them for stocks, discount no frills futures brokers often are the best because they don't play around with your capital, like deleting your stops so you are exposed to the markets oddly at the worst moment for you, funny that.
 
alistera said:
Margin matters in futures and as everyone says IB is one of the worst, they uplift margins at every opportunity even over night liquidating positions, mostly use them for stocks, discount no frills futures brokers often are the best because they don't play around with your capital, like deleting your stops so you are exposed to the markets oddly at the worst moment for you, funny that.
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%%
I ALMOST always get good out of your posts.
Related to that\
+ i'm sure not blaming you or IBKR for one rather notable loss in RE\
a no money down loss. No woder that'$ where most foreclosures happen-no money down.
That last sentence of your is a serous charge, not sure if you meant that happened more than once @ IBKR. ?? Most anything could happen once, found $100 free money so to speak. As of yesterdays close -sunset not twice found $100 or $200
Margin requirements seem like one of the lea$t important deal of any lender. -broker .
Thanks
 
Denis22@ said:
Personally, I use TradingView, it is ideal for different areas of trading, including futures
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TradingView is a charting platform, not a broker.

As for being "ideal"... For live (futures) day-trading (brokerage account needed), TV pretty much sucks in features and placing a trade mechanics. Further, the live trading reports are useless. TV was not developed as a live trade execution platform. It (TV) needs a lot of work in that area.
 
Hi, I've been trading since about the 2000s and have changed many platforms all the time, now I'm trying a platform like TradingView, a really good platform with great functionality that will work for everyone.
 
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