This seems to be a pretty complete list of Brokers with details on each broker.
I do not have a broker. So Please comment on your broker experience. What do people think.
This looks like a good resource to start.
I gave you a hat tip.
You deserve it.
I have been using TradeStation for futures about 6 or 7 months and have been very pleased with the interface and its capability. It really will do much more than what I use it for. Commissions, as noted in the article, are quite reasonable, for self directed futures trading. I would think they have assisted trading but am not sure about that since I use the interface for all trades. There are some overview tutorials that may interest you on their website and would encourage you to check them out.
The trade analysis feature, within the interface,allows you to review trades and provides you with many different stats over your specified time frame. I don't really use the Easy Language feature but if you are into testing strategies and back-testing it seems like it would work very well.
I have not had any problems with funds being credited and distributed quickly. Standard wire or overnight charge is $20 or $25 I believe. The only issue I have had was on two occasions data was not being updated through the interface during evening trading. This issue was however resolved in a timely manner.
Look forward to hearing others opinions on their platforms.
Do you have to pay a monthly fee for the commodity data ticker to feed into the computer. Tell us more about the setup.
I had Trade Station years ago. Back then you had to pay for the software and the ticker. Not sure how it works now. But I found the Easy Trader Language impossible to understand. It was friggin terrible. It also only allowed a short file to test trades. To me it was totally worthless and a big con game. but I did like the software. Back then it was just about the only software available. Now there is all kinds of software even free stuff. Back then on top of paying for the software. I think it was $2500 you had to pay about $500 per month for a ticker or data. It was way too expensive to use to trade. And the back testing was a joke. Impossible. They wanted you to pay someone $100 an hour to program your needs. that might cost you $5000 for very simple programs. It was ridiculous. It was impossible to find out the simplist thing about programing it. And the files were so short it was a total waste of time to even try.
If you are going to run a history run on a data file you need like a 25 year file or longer of data. Running on one 6 month file is total worthless. In most cases the file is only traded for say 3 months. so you get a couple of trades. that tells you noting. You need hundreds of trades over lots of data.
you could not run over tick data either. I guess it was still in development. Now they are running a brokerage business instead of selling software business. I have not talked to them so I have no idea what they are doing now.
What is your cost per contract for trading. And tell us all other costs.
Now they do have a book out with some programs in it and I guess an explanation of some of how to program it. with examples. Not sure. I don't have the book.
Great list, Sockeye.
Options House looks particularly cheap. Is there a catch? Anyone had good/bad experiences with them?
I only subscribe to two data packages (real-time COMEX $61.00 and NYSEL $1.00 per month). If you are looking to follow many different markets in real time the data can get expensive. Data prices are determined by which markets you want to follow and real-time or delayed pricing. Full packages for the CBOT, CME, and NYMEX are all $61.00 apiece. The mini contracts in real time run $10 - $25. Delayed prices are either free or $1.00. Total commission and fees of 1 round turn GC contract Commission 2.40
Exchange & clearing 2.90
Nfa fee 0.04 5.34 The platform itself doesn’t cost anything if you’re a brokerage customer and make 10 trades per month for futures. I believe the platform fee is $100.00 per month if you don’t meet the criteria. I have never had to pay the platform fee but if you are and intermediate term or long term trader that should certainly be taken into your cost consideration. As I stated before, I don’t use the back testing, or Easy Language features but they do have years of historical data from my understanding. I haven’t read any of the programming manuals or taken the web course. I agree with what you said on programming and inherent frustration. It’s not a feature I use but may be beneficial to others. Overall, for someone interested in short term trading or intermediate term based on trade size, I find it works well for me. Hope this helps anyone looking and comparing different platforms or brokers.
Hat Tip to you for the info.
I really appreciate it. Those prices are low compared to what they used to be. although I might be mistaken. In the old days it was exchange fees plus the company that supplied the data. total cost was very high like $500 a month. maybe the data feed company was expensive. I do not know the breakdown of costs.
Maybe not so low. add the 3 exchanges comes to $183 maybe it was the same in the old days. and maybe they charged $300 for the ticker line by the data feed company. Come to think of it. They used a big satellite dish. That had to be expensive. Now everything goes over the internet so it is probably no extra cost for the data feed.
Since I am mostly interested in small contracts of gold and silver those should do the job for me. I will take the rest in delay time @ only $1. may as well.
Do you think the real time on the small gold and silver is good enough or do you think I would be forced to also monitor the prices on the big gold and silver. well maybe if I make a few dollars.
What I did not like in the old days was that lots of bad data would come through and it was a pain to try to clean it up. all the data was on my computer. Now that they maintain a data base it sounds better. hopefully they keep the data cleaner than I could.
Let me add this.
You can subscribe to Futures and Commodities Magazine. I do not subscribe. However, they typically have discussions and then list programs in several languages. including easy language for tradestation. You can input those programs and they will run for you real time.
I never did that but it does give flexibility.
The Magazine is a little expensive and I never found much use for any of it. But I sometimes enjoyed reading a bit while I was busy with the call of nature. They sometimes offer an introductory subscription for about $15 for a year. that is well priced and gives some interesting stuff to read every month. The magazine is kind of devoted to selling you stuff.
Over the years I have tried many futures brokers. I really like Infinity Futures . The service has been very good and I love the trading platform. The DOM is very easy to use & understand with many options for single , multiple or oco trades. Downfall no flat rate commission.
PFG Best is a good company to trade online with. Best part is flat rate r/t. The trading DOM could be better
Hi Sockeye, Do you have additional information on this magazine? I googled but couldn't find a magazine with that name. I only found two similar magazines: "TA of Stocks &Commodities" and "futures Magazine".