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Best online exchange for trading ES


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Best online exchange for trading ES

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  #1 (permalink)
jimhash
Walnut Creek
 
Posts: 4 since May 2018
Thanks Given: 2
Thanks Received: 1

Hi, I was wondering what is the best online destination for trading of E-mini S&P 500 Futures for individual investors. Attributes I'm looking for are some combination of:
  • Trustworthy/reliable.
  • Good liquidity.
  • Reasonable fees.
Thanks in advance for relating any experiences or suggestions.
-Jimhash

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  #3 (permalink)
 tr8er 
Europe
Legendary Market Wizard
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
Posts: 704 since Jan 2017
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Thanks Received: 709


The only exchange you can trade the ES is the CME

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  #4 (permalink)
jimhash
Walnut Creek
 
Posts: 4 since May 2018
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Thanks Received: 1

Sorry, I meant to ask what's the best online brokerage, not exchange. Thank you very much.

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  #5 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532


jimhash View Post
Hi, I was wondering what is the best online destination for trading of E-mini S&P 500 Futures for individual investors. Attributes I'm looking for are some combination of:[LIST][*]Trustworthy/reliable.[*]Good liquidity.[*]Reasonable fees.

No 2, Good liquidity is not something to worry about. The product, E-mini S&P 500 Futures, is traded on the one exchange, the CME, so the liquidity is the same whoever your broker is. (This would only be a concern if trading something different like the spot forex market which doesn't have centralised exchanges so therefore the individual brokers are making the price).

As for the other points, you say you are using Tradestation, don't they recommend brokers?
Otherwise off the top of my head:

Stage5 have a good reputation regarding chatrooms and training and 'added extras' but I believe the commission is quite high, $2 a round turn (RTs)when I checked quite a while ago.

Ninjatrader brokerage have good rates but that only makes sense if you use their platform because you need to buy a licence to get their best prices.

I joined Tradovate a month or so back and everything has been smooth so far. They have a pricing structure for commissions that is tiered and a good benefit if day trading or trading reasonable volume, over 83 RTs/month for the Active Trader or 183 RTs for commission free.

Optimus appear to have a good reputation and have a representative, mattz, who posts a lot helping people on this forum.

Some brokers charge a platform fee, a lot have a free platform. All though will charge the same exchange and data fees as those are set by the exchanges for the data you subscribe to and the products you trade.
Check this thread for reviews if you haven't already https://nexusfi.com/reviews-brokers-data-feeds/

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
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  #6 (permalink)
 
xplorer's Avatar
 xplorer 
London UK
Site Moderator
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
Posts: 5,904 since Sep 2015
Thanks Given: 15,366
Thanks Received: 15,178


matthew28 View Post
Stage5 have a good reputation regarding chatrooms and training and 'added extras' but I believe the commission is quite high, $2 a round turn (RTs)when I checked quite a while ago.

I too would recommend Stage 5. Originally I was with TF4L, then last year they were acquired by S5 and the customer service improved exponentially.



As for the fees, Matthew, 2 USD per round trip sounds actually like a great deal to me, are you sure it's not per side?

Or did you mean just the actual commission cost, without including Exchange fee, NFA, etc.?

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matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532


xplorer View Post
Or did you mean just the actual commission cost, without including Exchange fee, NFA, etc.?

Yes. Just the commission. When I enquired, probably a couple of years ago, the commission was $1 a side or $2 a RT. But as said, they have a lot of positives that could make them well worth considering depending on a person's requirements.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
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  #8 (permalink)
heispark
Seoul Korea
 
Posts: 16 since Mar 2018
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any CQG brokers are fine...

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  #9 (permalink)
stopnlimits
Chicago, IL
 
Posts: 29 since Mar 2011
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jimhash View Post
Hi, I was wondering what is the best online destination for trading of E-mini S&P 500 Futures for individual investors. Attributes I'm looking for are some combination of:
  • Trustworthy/reliable.
  • Good liquidity.
  • Reasonable fees.
Thanks in advance for relating any experiences or suggestions.
-Jimhash

Hi Jim! The online brokerage I work with is Cannon Trading Company. I've been a client with them for 8 or 9 years now. And they're always there to help me service my account if I need statements or a wire or help with my platform but that's rare because I've used it for a long time now. It says on their website that they've been in business for 29 years. But you can always check that on the NFA website too. But since being there I haven't had an issue getting set up with my trading platform because I recently did get back into trading maybe just 3 months now. I took a break because I lost a lot of money trading. But that was definitely my lack of self discipline. I would insert an ugly crying emoji face if they had one. But definitely worth checking them out.

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