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[Locked] - Recommend a broker for futures trading

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[2022-06-17 11:17:55] #1 [Go To First Post]
HoochieCoochieMan - Posts: 6
Hey, can anyone recommend me a the best broker to use with sierra chart? Im looking for something that easy and simple to connect to and will allow me to trade futures. TD ameritrade wont approve me to trade futures unless i give bank statements. Are there any brokers out there that will allow me to get live cme data and trade futures on sierra chart?

[2022-06-17 13:20:00] #2 [Go To First Post]
Calculus - Posts: 86
Many are now going with the new Sierra Teton feed and either Edge Clear or Stage5. Check around because there are some vids of how those 2 brokers are working with Sierra. Sierra + Teton + a broker setup to offer Teton looks like a real winning package.

[2022-06-17 13:46:05] #3 [Go To First Post]
Stage 5 Trading - Posts: 152
Hi HoochieChoochiMan, Stage 5 takes great pride in helping traders transition to Sierra Chart Teton Order Routing as seamlessly as possible. Personally, I believe the best solution would be to switch to Sierra Teton Order Routing with Denali for real time and historical data. This is all maintained by Sierra directly, which I feel provides great benefits to traders as Sierra can focus on enhancements instead of maintenance of other third party order routing feeds. In addition, I feel it is the best overall quality and value for traders. You can open an account for as little as $100 and you will receive $0.20 per side commissions on the micros and $0.45 commissions on non micros plus exchange and regulatory fees. Please feel free to contact us and we will gladly assist you with any questions you may have and/or the process of transitioning your account and hopefully helping you improve your current trading solution. We would be able to provide some DOM chartbook layouts that will hopefully be more in line with what you are accustomed to. In addition, we would be more than happy to have a remote session to help get you setup with the new layouts. If you have questions or would like to speak to an assigned personal broker for details, please call us at 1-312-896-9897 or 1-800-258-6675. You can email us at sierrachart@s5trading.com and can also contact us here: https://stage5trading.com/contact/ If you are ready to move to the Teton Order Routing solution right away, we invite you to complete an application by clicking the blue button at the top of the https://stage5trading.com/ page that says Introducing Sierra Chart Teton Order Routing - Click Here to Open an account Thank you, Anthony Giacomin Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results.

[2022-06-17 14:20:28] #4 [Go To First Post]
Calculus - Posts: 86
Here's the Stage5 + Sierra vid - https://stage5trading.com/sierra-chart-teton-order-routing/

[2022-06-17 14:28:35] #5 [Go To First Post]
Stage 5 Trading - Posts: 152
And here is Webinar #2 which includes Tradovate membership pricing as well as Transact AT transitioning. https://stage5trading.com/teton-order-routing/ Thank you, Anthony Giacomin Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results.

[2022-06-19 20:25:36] #6 [Go To First Post]
Rui S - Posts: 175
Hello Anthony. I have been thinking to open an account with Stage 5 since last year. I actually have exchanged some emails with Michael Henderson about it and maybe the time is coming soon. If you don't mind, I would take the opportunity to ask you some questions: and $0.45 commissions on non micros plus exchange and regulatory fees. 1- Could you please inform exactly how much the total amount a NQ Futures contract would cost, including the current exchange and regulatory fees? 2- I remember when I asked Michael 1 year ago there was also a 0.10 cents fee per side for the order routing, charged by Sierra. Does this still apply with Teton? 3- I understand the margin can change each day but could you please give me an idea how much money will I need to have in an account with Stage 5 to be able to trade 10 NQ Futures contracts, considering the current margin these days? 4- I am an European citizen and live in Portugal. I currently have a trading account with IBIE (IB Ireland). Do you know if I can wire transfer funds directly from my IB account to Stage 5 (FCM)? Or will I have to transfer to my bank account first and then from my bank account to Stage 5 (FCM)? Thank you.

[2022-06-21 09:49:29] #7 [Go To First Post]
Calculus - Posts: 86
On point 4 I'm pretty sure that IB allows money to be transferred between regulated US brokers. So Sending say $10k from IB to a broker like Stage5 would be no problem at all, assuming of course the 2 names on the 2 accounts are the same. If not, no chance!

[2022-06-21 12:22:12] #8 [Go To First Post]
Stage 5 Trading - Posts: 152
Hi Traders, Sorry for the delay. We had a holiday yesterday and I was out of the office. That is correct, as long as the name and tax ID match from the IB account to the Stage 5 Trading account, you will be able to send funds directly from IB to Stage 5. I believe this is one of the easiest ways to fund your account. I have been thinking to open an account with Stage 5 since last year. I actually have exchanged some emails with Michael Henderson about it and maybe the time is coming soon. - GREAT! We would love to have you! If you don't mind, I would take the opportunity to ask you some questions: Of course, ask as many questions as you have so we can help you with your next steps as much as possible! and $0.45 commissions on non micros plus exchange and regulatory fees. 1- Could you please inform exactly how much the total amount a NQ Futures contract would cost, including the current exchange and regulatory fees? $0.45 Clearing/Commission + $1.30 Exchange & NFA Fee = $1.75 per side & $3.50 per round turn ALL IN. 2- I remember when I asked Michael 1 year ago there was also a 0.10 cents fee per side for the order routing, charged by Sierra. Does this still apply with Teton? This charge no longer applies with Sierra Teton Order Routing! 3- I understand the margin can change each day but could you please give me an idea how much money will I need to have in an account with Stage 5 to be able to trade 10 NQ Futures contracts, considering the current margin these days? I would recommend funding with an amount you feel comfortable as risk capital. With that being said, you can trade 10 NQ with as little as $10,000 or $1,000 per contract. Personally, I would fund with 15 - 20k to trade 10 NQ, but it is certainly based on your individual risk tolerance. 4- I am an European citizen and live in Portugal. I currently have a trading account with IBIE (IB Ireland). Do you know if I can wire transfer funds directly from my IB account to Stage 5 (FCM)? Yes, you can! Or will I have to transfer to my bank account first and then from my bank account to Stage 5 (FCM)? Transfer directly from IB would be my recommendation I hope this helps. Please let me know if you have any questions or we can assist with anything further. Thank you and have a great day! Anthony Giacomin Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results.

[2022-06-21 16:30:13] #9 [Go To First Post]
Rui S - Posts: 175
On point 4 I'm pretty sure that IB allows money to be transferred between regulated US brokers. So Sending say $10k from IB to a broker like Stage5 would be no problem at all, assuming of course the 2 names on the 2 accounts are the same. If not, no chance! Calculus, Yes, both accounts will have the same names, my wife's and mine. Thank you for your input.

[2022-06-21 16:38:57] #10 [Go To First Post]
Rui S - Posts: 175
Hi Anthony, Thank you very much for your detailed answers, it really helped. What I usually do regarding margin is a ratio of 1/2.5, meaning in this case for 10 NQ Contracts that would make 25K. Very acceptable. I think you will hear from me soon. Thank again.

[2022-06-21 16:43:37] #11 [Go To First Post]
Stage 5 Trading - Posts: 152
Excellent news Rui! Sounds like you should be in great shape with your intraday margin and trading limits. Please let us know if we can assist with anything further as we are here to help. In the meantime, if you would like to open a Joint Account you can use the following link: https://www.dormanaccounts.com/eApp/user/register?brokerid=232 Have a great day and look forward to hearing from you! Anthony Giacomin Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results.

[2022-06-21 17:07:43] #12 [Go To First Post]
58LesPaul - Posts: 429
What I usually do regarding margin is a ratio of 1/2.5, meaning in this case for 10 NQ Contracts that would make 25K. That’s a lot of leverage. Are you risking more than 2% per trade? You must be scalping, otherwise that’s a 2 1/2 point stop which is tight.

[2022-06-21 19:03:04] #13 [Go To First Post]
Rui S - Posts: 175
That’s a lot of leverage. Are you risking more than 2% per trade? You must be scalping, otherwise that’s a 2 1/2 point stop which is tight. 58LesPaul, Sorry, this is not the place to discuss trading methods or strategies... Good luck with your trading. Date Time Of Last Edit: 2022-06-21 19:03:55

[2022-06-22 03:48:42] #14 [Go To First Post]
Tony - Posts: 458
Hi Anthony, First of all, I would like to thank you for putting time and effort answering questions in past months, it's been great help for me to learn FCM/broker/trading related subjects! I understand that Stage 5 is currently working with 4 FCMs, Gain, Dorman, Advantage and Ironbeam, please correct me if I am wrong, as a Canadian resident, Ironbeam is the only option? (The only thing I don't like Ironbeam is that they don't support ACH withdrawal) I have an account with Ironbeam (+Rithmic), but my broker refused to support Teton, is it possible that I have another Ironbeam account with Stage 5 and active Teton? Would these two Ironbeam accounts conflict/confuse each other? i.e. the Teton routing send orders on my current broker's trading account instead of new Stage 5's trading account. Also would $1.75 per side & $3.50 per round turn apply to ES mini too? Thanks again! Date Time Of Last Edit: 2022-06-22 23:12:18

[2022-06-22 13:26:00] #15 [Go To First Post]
Stage 5 Trading - Posts: 152
Hi Tony, It is my pleasure. Stage 5 is a teammate and here to help provide traders with the best trading solutions possible for their needs. This is one of the reasons we are so excited to be working on this project with Sierra as we feel Teton Order Routing is a top notch execution solution. In addition, to saving traders money on the execution feed. I am truly blessed to be involved in this project and thank Sierra for everything they are doing to provide more and more value to traders. If you are a Canadian resident from Ontario, then you would be able to open your Stage 5 account at Advantage Futures. If you reside in a different province then Ironbeam would be the FCM for you. It is disappointing that your current broker is not providing access to Teton. Teton is fully operational at Ironbeam. You would be able to open an account at Stage 5 through the Ironbeam as the FCM for Teton Order Routing. You would simply open and fund the account at Stage 5 and we will get you setup with Sierra Chart Teton Order Routing. The accounts wouldn't conflict and would act as two separate accounts. Your current account would work independently from the Stage 5 account. Regarding the rates, I believe there is a an additional fee for Canadian residents built into the commissions, so they will likely be a bit hire than the rates mentioned here. That is unless you are from the province of Ontario and open through Advantage Futures. I am not sure of the specifics of the premium for Canadian clients, so I will send you a request for direct message and then have a broker reach out to you to go through all the details. I hope that helps. Please let me know if you have any questions or we can assist with anything further. Thank you and have a great day! Anthony Giacomin Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results.

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