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Broker for trading fx futures?

  • #1
  • First Post: Jul 30, 2008 2:02pm Jul 30, 2008 2:02pm
Hi there,

I am looking for recommendations on a serious futures broker for trading
currency futures.

I plan to trade (scalp) via Ninja Trader directly from the chart.

As of present i scalp spot fx (EURUSD @ Dukas and Oanda) but it seems when I move to larger lot sizes (ie 50-100 standard lots), currency futures has a range of advantages.

My cretaria is min. 1:100 leverage, reliable broker, fast exectuion and high volume.

I would highly appreciate any info and experiences in this area (broker, commisons, leverage etc.)

Thank's in advance,

PC
Less is more...
  • #2
  • Jul 30, 2008 11:24pm Jul 30, 2008 11:24pm
There's no such thing as 1:100 leverage for futures.
  • #3
  • Jul 31, 2008 9:10am Jul 31, 2008 9:10am
Hi there,

please see post 28 here :
http://www.forexfactory.com/showthre...t=96430&page=2

Can anybody then explain what kind of leverage CME futures offers?

Thanks

PC


Quoting JodyOng
There's no such thing as 1:100 leverage for futures.
Less is more...
  • #4
  • Jul 31, 2008 9:36am Jul 31, 2008 9:36am
There are two kind of margins in future trading: intraday margins and overnight margins. Overnight margin requirements are set by the exchange, while intraday margins can be set by the broker.

For example if you trade 1 EuroFX contract, and your broker offers an intraday margin of $1200, that amounts to a leverage of 1:100 (one EuroFX contract is worth $125K - so 1.25 lots in terms of 'classical' lots in spottrading). If you want to hold the position overnight, you need to meet the overnight margin requirement of $3240 set by CME at the end of the trading day - which is only about 1:35 leverage.

P.S. google and investopedia.com are your friends..
  • #5
  • Jul 31, 2008 2:05pm Jul 31, 2008 2:05pm
Shrike,

you are da mannn, thank's a lot

PC

Quoting shrike
There are two kind of margins in future trading: intraday margins and overnight margins. Overnight margin requirements are set by the exchange, while intraday margins can be set by the broker.

For example if you trade 1 EuroFX contract, and your broker offers an intraday margin of $1200, that amounts to a leverage of 1:100 (one EuroFX contract is worth $125K - so 1.25 lots in terms of 'classical' lots in spottrading). If you want to hold the position overnight, you need to meet the overnight margin requirement of $3240 set by CME at the end of the trading day - which is only about 1:35 leverage.

P.S. google and investopedia.com are your friends..
Less is more...
  • #6
  • Jul 31, 2008 3:40pm Jul 31, 2008 3:40pm
Hi Pipcruiser,
I don't trade the FX futures but I do know they offer them, and FX option spreads as well. They aren't market makers and hold all stop and limit orders on their servers until price is hit. I think they have a higher leverage. There was a recent chat/webinar about their FX service which should be posted on thinkorswim.com.

Cheers,
Ron
  • #7
  • Jul 31, 2008 9:25pm Jul 31, 2008 9:25pm
I trade currency futures on the CME through Open E Cry. They have the option of trading from the charts. Commissions can be negotiated. I am very happy with them thus far.
  • #8
  • Jul 31, 2008 11:19pm Jul 31, 2008 11:19pm
Quoting shrike
For example if you trade 1 EuroFX contract, and your broker offers an intraday margin of $1200, that amounts to a leverage of 1:100 (one EuroFX contract is worth $125K - so 1.25 lots in terms of 'classical' lots in spottrading).
I seem to understand one contract is worth €125K, not $125K..
  • #9
  • Aug 1, 2008 4:38am Aug 1, 2008 4:38am
Quoting pippero
I seem to understand one contract is worth €125K, not $125K..
Yes, true. So $1200 margin would more like 1:150 leverage (1 contract has a face value of $ ~180K ).
  • #10
  • Aug 29, 2008 8:16am Aug 29, 2008 8:16am
Why not use Interactive Brokers - if you don`t need handholding: FX-Spot (ECN-type), Fx futures, any futures, any options and all at lowest cost. Reliable and secure - but USD 10k to open your account.

Regards

Forex37
  • #11
  • Aug 30, 2008 10:57am Aug 30, 2008 10:57am
Quoting Forex37
Why not use Interactive Brokers... - but USD 10k to open your account.

Regards

Forex37
  • #12
  • Nov 17, 2008 9:10am Nov 17, 2008 9:10am
Hi,
what is cheaper trading fx futures or spot? I tried to make calculations but got confusing numbers. According to my calculations spread in the future fx + comission per round turn is almost the same or even higher than spread of the same order size in the spot fx. Am I wrong in my calculations? Could anyone who trades fx futures share his view concerning this? thank you.
  • #13
  • Last Post: Nov 18, 2008 6:56pm Nov 18, 2008 6:56pm
Quoting Forex37
Why not use Interactive Brokers - if you don`t need handholding: FX-Spot (ECN-type), Fx futures, any futures, any options and all at lowest cost. Reliable and secure - but USD 10k to open your account.

Regards

Forex37
if you are a student you can negotiate for a lower capital requirement..
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