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Brokerage Opinions

  • #1
  • First Post: Nov 26, 2012 4:01pm Nov 26, 2012 4:01pm
Hello everyone,

I would appreciate any feedback and opinions from the FF members for commodity trading brokers.

Brokerages I use currently:

Forex-Oanda
Options/Stocks-Scottrade

I am looking into several other markets and would like to get into trading price action on some commodities.

Any advice would be appreciated.

Warmest regards,

ZRC
  • #2
  • Nov 26, 2012 5:04pm Nov 26, 2012 5:04pm
Quoting ZacharyRC
I am looking into several other markets and would like to get into trading price action on some commodities.

Any advice would be appreciated.

Warmest regards,

ZRC

If you're just going to trade gold and silver, some forex brokers aren't too bad (you're already covered pretty well by Oanda.) But if you want to get into a wide range of commodities then forex brokers usually turn to CFDs that track the futures market and such CFDs are often quite a bit more expensive than trading the underlying futures themselves.

So if things like coffee, sugar, cattle, FCOJ, etc... are on your list, look into futures directly.

AMP Clearing isn't a bad place to start, but check the margin requirements for each of the products you want to trade, plus the contract specifications, so you know what you need to commit to your account (they advertise min-account balances starting at $500 but that won't get you far at all with most futures contracts.)

Seriously speaking though, demo demo demo when trying out a new market/product.
FXGears.com
  • #3
  • Nov 26, 2012 5:06pm Nov 26, 2012 5:06pm
Would definitely second that advice, doing the demo always helps - whether it is to check out a broker's platform, account or a new market
  • #4
  • Nov 26, 2012 8:50pm Nov 26, 2012 8:50pm
Quoting Jack_Larkin
If you're just going to trade gold and silver, some forex brokers aren't too bad (you're already covered pretty well by Oanda.) But if you want to get into a wide range of commodities then forex brokers usually turn to CFDs that track the futures market and such CFDs are often quite a bit more expensive than trading the underlying futures themselves.

So if things like coffee, sugar, cattle, FCOJ, etc... are on your list, look into futures directly.

AMP Clearing isn't a bad place to start, but check the margin requirements for each of the products...
I fully agree. Thank you for the input Jack.
  • #5
  • Last Post: Nov 30, 2012 1:37pm Nov 30, 2012 1:37pm
Quoting ZacharyRC
Hello everyone,

I would appreciate any feedback and opinions from the FF members for commodity trading brokers.

Brokerages I use currently:

Forex-Oanda
Options/Stocks-Scottrade

I am looking into several other markets and would like to get into trading price action on some commodities.

Any advice would be appreciated.

Warmest regards,

ZRC
Go with InteractiveBrokers, you can trade almost anything with them.
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