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I use Sierra Chart (package 5) with the Denali feed and Interactive Brokers. SC engineers seem to really hate IBKR, but they were the broker and FCM that I was most comfortable with using after a lot of research and time spent talking to other firms. AMP is a tiny firm (last I remember their adjusted net capital was around $5 million whereas IBKR is around $5 billion) and yet their intraday margins requirements are minuscule. That’s a risky combination in my view so I prefer a larger firm that requires full CME margin rates. If I had to switch I’d probably consider Advantage Futures, Optimus Futures, or Edge Clear but they’re all smaller and I don’t think their margin requirements are as high (though I’m pretty certain the latter two both use Dorman as the FCM which has as solid reputation).
I have used Ninjatrader in the past and now have used Sierra Charts for several years. Personally, I like Sierra charts best, especially if you use order flow, TPO charts, and volume profiles as I think Sierra is excellent in charting these. I use AMP brokerage. Just so you know, AMP gives you free Sierra charts, HOWEVER, the free one is package 3 which does NOT include tick data necessary for order flow, TPO, and volume profile data. You can either upgrade to Package 5 thru the brokerage (which I believe is $25 a month), or pay for Sierra charts separately on your own and pay for longer periods (such as 6 months or a year), which then ends up being less expensive. (that's what I do). Hope this helps! Good luck!
I use Sierra and they are a good low cost provider. I use AMP as a broker. They are good and low cost but others like edgeclear are good. I use CTG for data base may switch to Denali. Good luck!
As for which FCM, data provider, or brokerage you should use, we believe it comes down to what your trading goals are. Depending on what contracts, margins, support, etc. you need, some firms may not provide what you are looking for. We suggest reaching out to multiple firms to determine which solution best fits your needs.
Introducing Brokers, like Edge Clear, clear through multiple firms to help facilitate whatever combination a trader needs. Each FCM offers a unique advantage, it's our job to find the best fit for you and Sierra Chart.
Hope this helps!
Please call us with any questions 773.832.8320 or 844.TRADE20. Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
1) isn't Denali it's own thing that you have to pay for..directly to Sierra regardless of your broker? But Denali actually uses TT? I never understood Denali or what it's draw was. I wish someone would ELI5 it to me.
2) does Sierra Chart separate out data feed and order routing feed, such that I could feed my charts with "Data Feed X" but send my orders through "Routing Feed Y". If memory serves, IRT does this and I'm wondering if anything else does.
And just to add, I believe EdgeClear has the best all-in round turn costs when using Rithmic for data and order routing, imo. Even beats AMP/Rithmic, which is insane.