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Date/Time: Thu, 13 Aug 2020 05:58:39 +0000



Best Futures Broker

[2020-05-23 19:12:49]
marcelperez - Posts: 40 | Ending Date: 2021-10-13
I am thinking of switching from interactive brokers to another broker.

ANy recommendations? Phillip? Advantage?
[2020-05-24 00:39:29]
Sierra Chart Engineering - Posts: 88579 | Ending Date: 2021-04-05
We will let other users answer as well.

But from our experience Advantage is fine. Phillips is fine but you need to go through an introducing broker to work with Phillips. We will have to get a list for you.
Sierra Chart Support - Engineering Level

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If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2020-05-24 01:30:25]
marcelperez - Posts: 40 | Ending Date: 2021-10-13
Ok, have you heard about ADM Investor Services?

The commissions on IB are 0.47 per contract including fees but I want to avoid using their API.

I checked this list :
https://www.managedfuturesinvesting.com/2019-top-fcms/

it seems as ADMIS and RJ Obrien are the best capitalized.
[2020-05-24 16:13:25]
marcelperez - Posts: 40 | Ending Date: 2021-10-13
So Apparently ADMIS is not supported.

I just contacted Wedbush and RJ'Orien to see if they support.

In order of capitalization and assets under management:
1.Interactive Brokers
2. ADMIS
3. RJ Obrien
4. Wedbush
5. Phillip
6. Advantage
7. Doorman
8. AMP

Just sharing this info with everyone.
[2020-05-24 16:20:40]
marcelperez - Posts: 40 | Ending Date: 2021-10-13
The problem with Advantage is that their commissions are crazy high....

Phillip offered lower commissions than Interactive Brokers but would charge me $20 per month just to connect with Sierra/TT so it would be $40 a month for that...


Advantage Futures Commissions:
VOLUME SCALE  RATE ($)  
0 - 100   $0.99  --
101 - 1,000  $0.69  --
1,001 - 2,000  $0.49  --
2,001 - 5,000  $0.29  --
5,001 - 10,000  $0.19  --
10,001 -  $0.07
[2020-05-25 13:19:59]
Sierra Chart Engineering - Posts: 88579 | Ending Date: 2021-04-05
You can find brokers that will give you .49 commission per contract per side who support the Sierra Chart order routing service. Check with Stage 5.

How do you calculate this?:
so it would be $40 a month for that...

Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2020-05-25 13:29:50]
AlexiaDiaz - Posts: 5 | Ending Date: 2021-06-04
$20 for SC Order routing service and $20 Phillip will charge for connection with Sierra/TT

I will check with Stage 5 thanks
[2020-05-25 19:27:53]
Sierra Chart Engineering - Posts: 88579 | Ending Date: 2021-04-05
Yes check with them.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
[2020-06-21 20:37:59]
User977098 - Posts: 21 | Ending Date: 2020-09-15
Hello @alexiadiaz,

Was just wondering how you went with your brokerage selection, and if you have any feedback you'd be willing to share?
My list is basically down to Advantage, Stage 5 or AMP.
[2020-06-21 20:43:33]
AlexiaDiaz - Posts: 5 | Ending Date: 2021-06-04
I ended up with AMP. Still using IB for stocks though.

You can open a small account, and use them. They are legit, reliable and good service, also if your consistently profitable or even starting out, you are good with $2k, no need to have $10k to trade futures.

AMP commissions are the lowest next to Interactive Brokers, Advantage is more expensive.
[2020-06-21 20:49:32]
User977098 - Posts: 21 | Ending Date: 2020-09-15
I appreciate your reply.

I also use IB for options. Any reason you didn't stay with them as your broker for futures and just use SC with denali data for charting and trade execution?
[2020-06-21 20:59:08]
AlexiaDiaz - Posts: 5 | Ending Date: 2021-06-04
A couple of reasons.

1) I intraday trade futures, not stocks. I hold stocks for longer time frame, 1 day in 2nd or 3rd day out. I wanted to separate the two types of trading.
2) IB requires higher margin, $1,200 for micro for intraday trading. If you are disciplined and know what you are doing, it is a better allocation of capital. With a $2k account with AMP i can take $10k and deploy them in other asset clases (i.e stocks).
3) No need for an API.
4) Lower commissions all in. IB is $0.94 round trip per Micro ES, AMP + TT /Denali is $0.78 ($0.29 x 2 AMP + $0.10 x 2 for Denali)
5) I don't hold futures overnight.
6) Sierra no longer provides technical support for IB. I still use Sierra with IB but the moment it is not supported, I can either switch to tradestation or use TWS for swing trading. I am no longer scalping stocks. I used DAS trader before but its not worth the price.

Hope this helps.

AMP is legit but it is not a broker to allocate $50k or $100k. If you want to scalp futures and just do intraday on futures, it is a good broker.
[2020-06-21 21:09:16]
User977098 - Posts: 21 | Ending Date: 2020-09-15
Yes, helps a lot.
Again, I appreciate the information, thanks.
[2020-06-22 01:52:56]
User379468 - Posts: 304 | Ending Date: 2020-08-31
AMP is legit but it is not a broker to allocate $50k or $100k. If you want to scalp futures and just do intraday on futures, it is a good broker.

@AlexiaDiaz, why do you say this? Any reasons to be concerned with a larger account at Amp?
[2020-06-22 02:23:48]
marcelperez - Posts: 40 | Ending Date: 2021-10-13
https://www.cftc.gov/MarketReports/financialfcmdata/index.htm

When you invest money you want to make sure your money is a smaller percentage of there total AUM or that their net capital and excess capital is higher.

Nothing against AMP but the reality is that they are a smaller firm relative to the rest. No reason to put all eggs in one basket. Look what happened to IB recently with crude. Also all firms manage risk differently and AMP seems solid managing risk. I am just saying that this is one of the considerations you should have. Maybe 20-100k is fine
[2020-06-22 02:25:22]
marcelperez - Posts: 40 | Ending Date: 2021-10-13
I am a happy AMP customer btw. If I had a lot of money to invest I would separate it into different institutions
[2020-06-22 14:13:26]
FFTrader - Posts: 180 | Ending Date: 2021-07-27
So Apparently ADMIS is not supported.

I just contacted Wedbush and RJ'Orien to see if they support.

In order of capitalization and assets under management:
1.Interactive Brokers
2. ADMIS
3. RJ Obrien
4. Wedbush
5. Phillip
6. Advantage
7. Doorman
8. AMP

Just sharing this info with everyone.

Dear @marcelperez,

Where can I search for a broker's market capitalisation? CFTC?

I am in Canada and looking to switch away from IB.

Thanks.
[2020-06-22 14:20:11]
marcelperez - Posts: 40 | Ending Date: 2021-10-13
https://www.cftc.gov/MarketReports/financialfcmdata/index.htm
[2020-06-22 14:21:39]
marcelperez - Posts: 40 | Ending Date: 2021-10-13
This link shows their Equity and Excess Equity you can sort out by Excess Equity (Net Capital).

THese are the largest ones i believe

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