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I would like to bring the topic (again) to broker selection. I currently trade at DeCarley (Zaner/GAIN) with Zaner360. The service is outstanding, but the fees are very high (8.62 round turn) and the software only allows single legs (no spreads).
I had a demo account at Zumo (Ironbeam) with the Firetip software. It does include spreads, but only very random strikes. A representative of Zumo told me that "There would be no way to enter custom spreads into Firetip as you have asked."
Do you know futures brokers where I can trade these spreads (as one order)?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
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I use TT and clear Advantage Futures and can do exactly that. I think you'll find its more a software issue than a Broker issue. The higher end software (like TT) which costs a lot of money will all be able to do it, question is whether there is any cheaper software that has the functionality. I am flabbergasted that Tradestation can't list futures spreads!
Just adding maybe CQG qtrader at 40/month is a good option I use it for out rights as well as spreads of course need a good broker to support it for example Amp does not do spreads
Are you able to open an account with TD Ameritrade (Think or Swim TOS) from your country?
It is a very good options platform that allows complex order entry as well a decent backtest tool
TOS at the moment won`t accept any customers for non-cash-accounts from EU countries - even bullies existing ones to leave -- even UK customers. Maybe due to to avoid competition with Ameritrade`s Luxembourg TD Direct .
Kind regards
p.s. Opening a cash account will still grant you the analytical tools.
If you have an IB account, try them out. If you open the "OptionTrader" window and pull up ES you can build the spread there and it will send the order to the exchange as a native spread. I attached a screenshot using the last trade I could find that Ron mentions putting on ESk7p1825p1580(2). Margin for this is around $1000 per spread. Pretty high.
One way I am looking at to reduce the margin and stick with IB is using a diagonal spread selling one option around 100 days out and buying 2 around 70 days out. By doing this I am able to trade strikes that are around 120 points apart to get a premium of $2.00 to $3.00. The IB margin for this spread is around $500. This can also be sent as a native spread order through IB's TWS.
I have traded both of the same month and diagonal spreads with IB over the past few weeks and the quoted bid ask spread is about 0.30 to 0.50 wide in both. If you submit an order to sell around the midpoint a new bid will usually come in closer to your order.