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Have you dealt with any of these brokers? Looking to open an account


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  #1 (permalink)
 budfox 
Toronto
 
Experience: Beginner
Platform: Sierra
Broker: MB
Trading: ES
Posts: 313 since Jun 2013

Hello there,

So I am considering opening an account, I am wondering if any of you have dealt with any of these brokers?


Alpari


Plus 500

Deep discount traders (Howard Lender)


XE Markets


AVA Fx

Markets.com


Generic Trade

MB Trading



What are the important issues I should be concerned with when opening an account? (aside from the obvious)

I am looking to trade the ES, and open an account with around $2500

PLease advise. Thank You.

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  #3 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,600 since Jun 2009
Thanks Given: 33,339
Thanks Received: 101,962


If you do a search in the brokers section, most of these already have review threads.

https://nexusfi.com/brokers-data-feeds/

Mike



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  #4 (permalink)
 TrendTraderBH 
Detroit, Michigan
 
Experience: Beginner
Platform: Ninja Trader
Trading: Futures
Posts: 315 since Nov 2011
Thanks Given: 570
Thanks Received: 301

I would pick Howard Lender. I've spoken to him and he is the real deal and he is also the least expensive as well. The only reason I don't use him is the historical data issue which his data feed (at the time anyway) wasn't what I needed.



budfox View Post
Hello there,

So I am considering opening an account, I am wondering if any of you have dealt with any of these brokers?


Alpari


Plus 500

Deep discount traders (Howard Lender)


XE Markets


AVA Fx

Markets.com


Generic Trade

MB Trading



What are the important issues I should be concerned with when opening an account? (aside from the obvious)

I am looking to trade the ES, and open an account with around $2500

PLease advise. Thank You.


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  #5 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,600 since Jun 2009
Thanks Given: 33,339
Thanks Received: 101,962


TrendTraderBH View Post
I would pick Howard Lender. I've spoken to him and he is the real deal and he is also the least expensive as well. The only reason I don't use him is the historical data issue which his data feed (at the time anyway) wasn't what I needed.

Are you sure he will open with only $2500?

The fact is, no one I repeat NO ONE should be trading futures with such a low account size and using such ridiculous margins...

Most reputable firms require at least $5,000 for an individual account, and that is an absolute minimum. Many require $10,000. Some more.

Mike



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  #6 (permalink)
 
SarahKrantz's Avatar
 SarahKrantz 
new york city
 
Experience: Intermediate
Platform: nt
Trading: es
Posts: 42 since Apr 2013


Big Mike View Post
Are you sure he will open with only $2500?

The fact is, no one I repeat NO ONE should be trading futures with such a low account size and using such ridiculous margins...

Most reputable firms require at least $5,000 for an individual account, and that is an absolute minimum. Many require $10,000. Some more.

Mike

I agree with the first sentence.

Deep Discount Trading, a Crossland subsidiary, is highly reputable, their low margins notwithstanding. And Howard Lender will treat you the same if you have $2500 or $1 million in margin. I've yet to find anyone as responsive and dedicated to customer service as him. Very highly recommended.

Oh, and if you have a lifetime, multi-broker Ninja license, the historical data provided on the TT connection is ZenFire's (which is Rithmic's). That's a little secret I found out from NT support.

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  #7 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,600 since Jun 2009
Thanks Given: 33,339
Thanks Received: 101,962


SarahKrantz View Post
I agree with the first sentence.

Deep Discount Trading, a Crossland subsidiary, is highly reputable, their low margins notwithstanding. And Howard Lender will treat you the same if you have $2500 or $1 million in margin. I've yet to find anyone as responsive and dedicated to customer service as him. Very highly recommended.

Oh, and if you have a lifetime, multi-broker Ninja license, the historical data provided on the TT connection is ZenFire's (which is Rithmic's). That's a little secret I found out from NT support.

That's good. But look at the OP's profile:

"Broker/Data: looking for the cheapest one"

This is a clear sign of someone who doesn't know better. I'm just trying to tell him he needs to completely reconsider his entire trading plan, because he doesn't appear to know what he is doing.

This is an excellent place to start:


If you read the hundreds of posts in there it should be painfully obvious all the mistakes rookies make, and you should then be much better positioned to not do the same.

Mike



Join the free Markets Chat beta: Real-time Trading Insights

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
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  #8 (permalink)
 
SarahKrantz's Avatar
 SarahKrantz 
new york city
 
Experience: Intermediate
Platform: nt
Trading: es
Posts: 42 since Apr 2013


Big Mike View Post
That's good. But look at the OP's profile:

"Broker/Data: looking for the cheapest one"

This is a clear sign of someone who doesn't know better. I'm just trying to tell him he needs to completely reconsider his entire trading plan, because he doesn't appear to know what he is doing.

This is an excellent place to start:


If you read the hundreds of posts in there it should be painfully obvious all the mistakes rookies make, and you should then be much better positioned to not do the same.

Mike

No argument, but after the broker makes all the required regulatory disclosures and the customer agrees and signs off to them, it's unfair to imply a broker isn't reputable if his margins are low.

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  #9 (permalink)
 TrendTraderBH 
Detroit, Michigan
 
Experience: Beginner
Platform: Ninja Trader
Trading: Futures
Posts: 315 since Nov 2011
Thanks Given: 570
Thanks Received: 301

Nice to know about the data feed as I have a lifetime, multi-broker NT license.



SarahKrantz View Post
I agree with the first sentence.

Deep Discount Trading, a Crossland subsidiary, is highly reputable, their low margins notwithstanding. And Howard Lender will treat you the same if you have $2500 or $1 million in margin. I've yet to find anyone as responsive and dedicated to customer service as him. Very highly recommended.

Oh, and if you have a lifetime, multi-broker Ninja license, the historical data provided on the TT connection is ZenFire's (which is Rithmic's). That's a little secret I found out from NT support.


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  #10 (permalink)
 
Melba swing's Avatar
 Melba swing 
Melbourne Victoria/Australia
 
Experience: Advanced
Platform: C-trader, MT4
Broker: Pepperstone
Trading: Forex, Indices
Posts: 68 since May 2013
Thanks Given: 29
Thanks Received: 27



budfox View Post
Hello there,

So I am considering opening an account, I am wondering if any of you have dealt with any of these brokers?


Alpari


Plus 500

Deep discount traders (Howard Lender)


XE Markets


AVA Fx

Markets.com


Generic Trade

MB Trading



What are the important issues I should be concerned with when opening an account? (aside from the obvious)

I am looking to trade the ES, and open an account with around $2500

PLease advise. Thank You.


Hi, don't know about the ones you mention or the ES but you can begin with Mirus from that price and trade the M6E. I have just taken that road myself recently.

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