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Broker for indices

  • #1
  • First Post: Edited Jul 22, 2015 3:38am Jul 7, 2015 11:00am | Edited Jul 22, 2015 3:38am
Since a few months/weeks i have been looking into trading indices and i am now seriously considering to leave forex for what it is and 100% switch to indices.
Now i have been searching around for brokers who offers indices but i don't really know what to look for.

I would prefer a decent, well known broker based in Europe or UK, i prefer FCA regulation.
Minimum deposit around 1000€ would be perfect, i am still testing and trying out so i don't want to go live with a large account from the start.

Any advice would be highly appreciated!
Also any other idea's what to look for or think about are welcome!
  • #2
  • Jul 7, 2015 11:25am Jul 7, 2015 11:25am
IG Markets would be a good choice : spread on DAX is ALWAYS 1 and 1.8 for Dow jones.

But LCG could be a good option too as they provide a 0.9 spread on DAX et 1.0 on Dija (however spread may increase or decrease due to market conditions). I'm using a LCG demo account and I'll make my decision in a few weeks.
  • #3
  • Jul 7, 2015 3:36pm Jul 7, 2015 3:36pm
I just saw Activtrades also offers indices, i might going to use them.
Was already considering them forex as well.
  • #4
  • Jul 8, 2015 5:10am Jul 8, 2015 5:10am
maybe saxobank? reliable broker-bank, I suppose. Hope you find there your best conditions
  • #5
  • Jul 8, 2015 8:49am Jul 8, 2015 8:49am
My options so far i think are London Capital Group, Activtrades and FXCM.
Never was a big fan of IG Markets, looked in to Saxo but their trading hours for indices are not enough for me. I also like to trade at night.
My favourite so far would be LCG.

I still need to look in to these brokers order execution policy's and other legal documentation for more details.
  • #6
  • Jul 8, 2015 8:58am Jul 8, 2015 8:58am
Quoting Dkam
My options so far i think are London Capital Group, Activtrades and FXCM. Never was a big fan of IG Markets, looked in to Saxo but their trading hours for indices are not enough for me. I also like to trade at night. My favourite so far would be LCG. I still need to look in to these brokers order execution policy's and other legal documentation for more details.
The problem with FXCM regarding DAX is they don't provide ticks as LCG or IG. The FXCM dax tick is 1 pt. LCG and IG provide a 0.1 pt tick. You can lock a profit of 3.6 pts with LCG and IG which is sth you can't do with FXCM.

Also the DAX spread is often at 2. Are you a scalper or?
  • #7
  • Jul 8, 2015 9:03am Jul 8, 2015 9:03am
Quoting Unabletrader
{quote} The problem with FXCM regarding DAX is they don't provide ticks as LCG or IG. The FXCM dax tick is 1 pt. LCG and IG provide a 0.1 pt tick. You can lock a profit of 3.6 pts with LCG and IG which is sth you can't do with FXCM. Also the DAX spread is often at 2. Are you a scalper or?
No i am not a scalper. Most of my positions will be open from 30 minutes up to 7-8 hours.
  • #8
  • Jul 8, 2015 9:04am Jul 8, 2015 9:04am
However one of the advantage of FXCM is they allow traders trading with a 10 cts/point on CFDs. Basically micro-lot.

IG: 5eu/point
LCG: 1eu/point
  • #9
  • Jul 8, 2015 9:05am Jul 8, 2015 9:05am
Quoting Dkam
{quote} No i am not a scalper. Most of my positions will be open from 30 minutes up to 7-8 hours.
In this case, tick size and spread are not that important. FXCM may be fine!
  • #10
  • Jul 9, 2015 4:34am Jul 9, 2015 4:34am
Hello! Does anyone know a broker who has e mini contracts for indices?
  • #11
  • Jul 9, 2015 6:43pm Jul 9, 2015 6:43pm
Quoting port66
Hello! Does anyone know a broker who has e mini contracts for indices?
Hi Port66,

As Unabletrader mentioned earlier, FXCM offers micro lot trading on CFDs for several of the most popular stock indices, so you can risk as little as 10 cents per tick on a trade: http://bit.ly/1AKLbBR
  • #12
  • Jul 10, 2015 1:20am Jul 10, 2015 1:20am
Quoting Jason Rogers
{quote} Hi Port66, As Unabletrader mentioned earlier, FXCM offers micro lot trading on CFDs for several of the most popular stock indices, so you can risk as little as 10 cents per tick on a trade: http://bit.ly/1AKLbBR
Hello Jason, i have send you a PM, can you please respond to it?
  • #13
  • Jul 10, 2015 3:00am Jul 10, 2015 3:00am
Maybe I'm not so experienced trader on indices but micro lots for me is possibility to take o.1 contract position sell or buy. They have only 1 contract...
Deltastock has mini contracts but i don't like the platform. Its not possible to trade indices on mt4, only on other platforms as webtrader
  • #14
  • Jul 10, 2015 5:04am Jul 10, 2015 5:04am
This is from London Capital Group:

Dear Sir,

Thank you for your email.

"Our Quote" means that the price you are trading on with LCG is LCG's own price. Therefore the execution of any orders will occur when the LCG Quote (Our Quote) reaches the price specified in your Order or as near as possible should the market move through your specified level.

You must accept and understand that you are trading based on the price supplied by LCG and not on any price which you may see elsewhere.

LCG is a market maker and therefore Our Quote may be higher or lower than the Underlying Market. This can be due to a number of factors including interest rate costs, scrip issues, stock splits, competitors’ quotes or the volume of client business.

If you would like any further explanation please contact our Customer Support team on the number below.

Kind Regards
  • #15
  • Jul 10, 2015 5:23am Jul 10, 2015 5:23am
Quoting port66
Maybe I'm not so experienced trader on indices but micro lots for me is possibility to take o.1 contract position sell or buy. They have only 1 contract... Deltastock has mini contracts but i don't like the platform. Its not possible to trade indices on mt4, only on other platforms as webtrader
Platform isn't important for me, i probably will use another broker/service for charting then the one i will trade with.
I might give Deltastock a try.
  • #16
  • Edited 6:49am Jul 10, 2015 6:31am | Edited 6:49am
LCGMT is a good choice (my experience) , avoid FXCM you will be subjected of more slippages. the right way to express an opinion is to compare the data feed and the ticks volume per bar.

Quote
I might give Deltastock a try

check DFmarkets, they are a WL or UK branch of Deltastock.
  • #17
  • Jul 10, 2015 9:00am Jul 10, 2015 9:00am
Since i know almost all brokers only offer indices trough a market maker system i am reconsidering IG Markets.
I know they are a market maker, but they are one of the largest ones. Also they have u huge range of instruments to trade.
Anybody with personal experience?
  • #18
  • Jul 10, 2015 1:07pm Jul 10, 2015 1:07pm
Just noticed a downside with IG, the margin i would need to open 1 contract position on the dax is 700€.
Little bit high as i want to deposit only around that amount to try things out.
  • #19
  • Jul 10, 2015 3:37pm Jul 10, 2015 3:37pm
Quoting Dkam
{quote} Hello Jason, i have send you a PM, can you please respond to it?
Hi Dkam, I've responded to your PM
  • #20
  • Jul 10, 2015 3:44pm Jul 10, 2015 3:44pm
Quoting port66
Maybe I'm not so experienced trader on indices but micro lots for me is possibility to take o.1 contract position sell or buy.
On the micro lots I was referring to, you can can risk as little as 10 cents per point on and index CFD, and you can trade on the MT4 platform in addition to Trading Station or NinjaTrader.
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