Which futures firm do you use and why?

[StevenBruce]

May not matter to YOU but for my uses, I want to know how they handle problem days (exchanges down because of problems, natural disasters, outages, etc) what is their plan for answering the many phone calls they would get from customers trying to get out? How many dedicated lines do they have in place?

As Oldtrader tried to point out, margin is set by the exchange. Mirus may have some arrangement but overnight is not negotiable (I realize the OP doesn't keep em overnight/I do).

Let me put it this way, if there's a choice between two brokers, one who has a good plan in place for emergencies and one who simply lets the phone ring, I'll pay a bit more for the better prepared broker. It only takes ONE event (remember you can lose more than your account if a trade goes the wrong way) to take you out of the game and out of your life savings if it goes badly wrong.....

Good luck

 

[Swan Noir]

Quote from stevesbg:

I'll pay a bit more for the better prepared broker. It only takes ONE event (remember you can lose more than your account if a trade goes the wrong way) to take you out of the game and out of your life savings if it goes badly wrong... [/B]

It seems to me that as a general rule in life the premium paid to use first rate suppliers is rarely prohibitive.

You need to pay attention to the pennies but you can'y make those pennies the only factor in the equation.

I am still new to trading but I have zerp interest in finding the absoloute cheapest firm. I want the firm that delivers value once all elements have been weighed.

 

[Darior]

Quote from optionzztrader:

I have not been paying attention when I place a trade at thinkorswim. The margin for the emini russell is $4k now. Used to be around $5k-$6k. ES margin is $5625 per contract. I just checked think or swim's emini margins.

If your account is above 15k TOS give you 33% day trade margin, so you can buy 3 contract for the full price of one.
You have to contact their support to enable that, it's not by default.

 

[nvrabel]

check out Peak Trading Group

peak-trading.com

Can be set up by margin or position limits for day trading, can trade through a webstation or download software. Work through RCG too.

 

[Swan Noir]

If, as I have heard, TorS will be taken over by ETrade I suspect the intraday margin policy will be dictated by the new owners.

Quote from Darior:

If your account is above 15k TOS give you 33% day trade margin, so you can buy 3 contract for the full price of one.
You have to contact their support to enable that, it's not by default.

 

[AmbushHillbilly]

Quote from Swan Noir:

If, as I have heard, TorS will be taken over by ETrade I suspect the intraday margin policy will be dictated by the new owners.

It was TD Ameritrade, and it's done.

 

[kxvid]

Quote from optionzztrader:

Anybody else have any other input about Mirus or any other futures brokers? I have been researching extensively to see who I want to go with thru the cftc, nfa, bbb, etc. I just want to make sure whichever futures broker I choose has the credentials like thinkorswim. Thinkorswim is solid, but I prefer lesser margin requirement and no software download with a solid futures broker. Thanks.

TOS has online trading capability. This is unlike bare bones discount futures IBs.

TOS an great futures broker, I use them. The grass is always greener on the other side, and there is always a temptation to move to a discount. But so far TOS has been nothing short of excellent. Yes, there are cheaper firms and lower margins to be had. But those invariable come with major drawbacks such as less stability than TOS, no ACH, no real time account balances, poor support and shady "brokers".

 

[optionzztrader]

Hey thanks everybody for their input. I appreciate it........Today was boring as hell, wasn't it?

 

[southbeach4me]

I been trading ES and NQ(my acct and my client's accts) thru Mirus for a lil over a 2 yrs. They are a top notch firm, excellenet margins. Ninja platform with Zenfire feed is top notch. I cannot understand why anyone would use a broker that charges upwards of $5000 margin. Thats nuts !! :eek:

 

[trendy]

Quote from stevesbg:

May not matter to YOU but for my uses, I want to know how they handle problem days (exchanges down because of problems, natural disasters, outages, etc) what is their plan for answering the many phone calls they would get from customers trying to get out? How many dedicated lines do they have in place?

As Oldtrader tried to point out, margin is set by the exchange. Mirus may have some arrangement but overnight is not negotiable (I realize the OP doesn't keep em overnight/I do).

Let me put it this way, if there's a choice between two brokers, one who has a good plan in place for emergencies and one who simply lets the phone ring, I'll pay a bit more for the better prepared broker. It only takes ONE event (remember you can lose more than your account if a trade goes the wrong way) to take you out of the game and out of your life savings if it goes badly wrong.....

Good luck

Well don't keep it a secret. Who has the best plan in place? From the nature of your post, I must assume that you have made the necessary inquiries.