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Cheap and reliable futures broker?

  • #1
  • First Post: Jun 7, 2011 9:52pm Jun 7, 2011 9:52pm
Can anyone recommend a cheap and reliable futures broker who supports Ninja Trader? Since my trading volume will be very low in the beginning I haven't been able to find anyone cheaper than deepdiscounttrading.com.
If any of you have tried this broker I would also very much like to hear about your experience.

Thanks!
  • #2
  • Jun 8, 2011 11:51pm Jun 8, 2011 11:51pm
OK, perhaps cheap and reliable was a little too ambitious
So how about a reliable broker then ... anyone ??
  • #3
  • Jun 9, 2011 12:43am Jun 9, 2011 12:43am
Quoting fido
Can anyone recommend a cheap and reliable futures broker who supports Ninja Trader? Since my trading volume will be very low in the beginning I haven't been able to find anyone cheaper than deepdiscounttrading.com.
If any of you have tried this broker I would also very much like to hear about your experience.

Thanks!
I would prefer Daniels Trading.
  • #4
  • Jun 9, 2011 12:45am Jun 9, 2011 12:45am
But I'd recommend Thinkorswim.
They offer a veeeeeeery "handy" trading platform
And their fees are relatively small.
  • #5
  • Jun 9, 2011 1:17am Jun 9, 2011 1:17am
why not IB ?
  • #6
  • Jun 9, 2011 10:59pm Jun 9, 2011 10:59pm
Thank you for your feedback

I decided to give deepdiscounttrading a shot. So far everything has been running very smoothly and now I just need to wait for the money to show up in my trading account.
  • #7
  • Jun 11, 2011 11:48am Jun 11, 2011 11:48am
could you later tell us if you are satisfied with them? kinda review
  • #8
  • Jun 11, 2011 1:34pm Jun 11, 2011 1:34pm
Quoting fido
Can anyone recommend a cheap and reliable futures broker who supports Ninja Trader? Since my trading volume will be very low in the beginning I haven't been able to find anyone cheaper than deepdiscounttrading.com.
If any of you have tried this broker I would also very much like to hear about your experience.

Thanks!
Zaner? Ask a special price, I bet they will not say "no sir".

http://zaner.com/3.0/platforms/

All the best.
Mind the gap
  • #9
  • Jun 11, 2011 10:45pm Jun 11, 2011 10:45pm
Sure, I will come back with a review once I'm up and running.

  • #10
  • Jun 15, 2011 7:08am Jun 15, 2011 7:08am
I've seen many good reviews of Mirus and is checking this broker for me now, that sounds that they are as honest with their customers as possible.
  • #11
  • Jun 15, 2011 8:43am Jun 15, 2011 8:43am
I think the cheapest is Fastbrokers.com.
Their commissions are far below all the others brokers but the main advantage is they have a platform and let you trade forex (currenex) and futures from the same platform. I like the fact that you can use robots to auto-execute on both....
http://fastbrokers.com/commissions/
  • #12
  • Jun 15, 2011 6:43pm Jun 15, 2011 6:43pm
Quoting Saratogafx
I think the cheapest is Fastbrokers.com.
Their commissions are far below all the others brokers but the main advantage is they have a platform and let you trade forex (currenex) and futures from the same platform. I like the fact that you can use robots to auto-execute on both....
http://fastbrokers.com/commissions/

I just had a quick look at their prices and deepdiscounttrading.com is definitely cheaper for futures trading. For forex I have a better deal with PFG.

I just received a mail from DDT that my funds has arrived so I'm almost ready to go - just need to connect to the TT feed. I think I should mention - this I actually didn't know when I signed up for DDT - if you want to use the Static Superdom in NT you will be charged an additional 10 cents per side in commission. For Chart trader and Dynamic Superdom it is just 5 cents.
Will keep you posted ...
  • #13
  • Jun 16, 2011 12:38am Jun 16, 2011 12:38am
Quoting fido
I just had a quick look at their prices and deepdiscounttrading.com is definitely cheaper for futures trading. For forex I have a better deal with PFG.

I just received a mail from DDT that my funds has arrived so I'm almost ready to go - just need to connect to the TT feed. I think I should mention - this I actually didn't know when I signed up for DDT - if you want to use the Static Superdom in NT you will be charged an additional 10 cents per side in commission. For Chart trader and Dynamic Superdom it is just 5 cents.
Will keep you posted ...
...
Let me disagree on that.
At the end what really counts is what you end up paying, and with DDT you'll end up paying more.

Let's do some math:
Fastbrokers.com charges $1.95 for eminis and DDT 1.66 for Eminis. So there is a difference of $.29 cents per trade.
However Fastbrokers gives you a free platform + historical and real time included so that is all you end up paying.

With DDT you need to still add the the static dome which comes another 0.05 and $ 60 per month. so you end up paying 1.71 and $60 bucks versus paying $ 1.95 and nothing else. You need 250 trades per month to start saving with this deal. And this because you choose NT. Going with other platforms as far as I see could have made your deal even worst.

Just for the sake of clarity however.
Good luck with your trading and keep us posted.
;-)
  • #14
  • Jun 16, 2011 12:39am Jun 16, 2011 12:39am
Quoting Kiado
why not IB ?
TOS is cheaper
  • #15
  • Jun 16, 2011 1:00am Jun 16, 2011 1:00am
Quoting Saratogafx
Let me disagree on that.
At the end what really counts is what you end up paying, and with DDT you'll end up paying more.

Let's do some math:
Fastbrokers.com charges $1.95 for eminis and DDT 1.66 for Eminis. So there is a difference of $.29 cents per trade.
However Fastbrokers gives you a free platform + historical and real time included so that is all you end up paying.

With DDT you need to still add the the static dome which comes another 0.05 and $ 60 per month. so you end up paying 1.71 and $60 bucks versus paying $ 1.95 and nothing...
You are not quite right.
1. I don't need the static superdome, I'm perfectly happy with chart trader and the dynamic superdome so I will ask NT to disable it and save myself 5 cents per side.
2. I already have a multibroker lifetime license for NT so that is really not an issue for me.

  • #16
  • Jun 16, 2011 2:58am Jun 16, 2011 2:58am
Tradestation securities is good too
  • #17
  • Jun 16, 2011 8:59am Jun 16, 2011 8:59am
Quoting fido
You are not quite right.
1. I don't need the static superdome, I'm perfectly happy with chart trader and the dynamic superdome so I will ask NT to disable it and save myself 5 cents per side.
2. I already have a multibroker lifetime license for NT so that is really not an issue for me.

I am very right and I showed you above.
With commissions + Ninja you can get similar deals at many other brokers. The fact that you already pay for a multibroker license does not relief from the charge of at least $60 per month that each user has on top of commissions. Plus any other fee they charge for dome charts etc..
  • #18
  • Jun 16, 2011 9:32am Jun 16, 2011 9:32am
Saratogafx, let's try again:

I am the lucky owner of a NT lifetime license .... that means I do not pay a monthly fee to use NT. I also use NT for trading forex with another broker.

The additional 5 cents per side for the Static SuperDom are optional.

  • #19
  • Jun 17, 2011 6:39pm Jun 17, 2011 6:39pm
Just a quick heads up ....
Did my first ever futures trades Thursday evening ... just two quick trades on E6, one contract each ... ended up with + 10 ticks. Not much but at least it was a positive start

My plan was to trade again Friday evening and night (I'm in Asia at the moment) but I was simply too exhausted and didn't wake up again until the markets were just about to close

So far I'm very pleased with my choice of broker - the total cost for the two trades was $8.68 - that is a cheap way to trade forex.

Enjoy your weekend!
  • #20
  • Jun 18, 2011 4:31am Jun 18, 2011 4:31am
Quoting slovforex
TOS is cheaper
That's not so wise to choose the cheapest broker, it can also be less trustable one. I've personally heard a lot of positive feebacks regarding IB.
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