discount brokers


i have a question for all you traders out there. who do you use as your broker, what do you pay and are you happy with them? if so, why?

i'll get the ball rolling. i use emini direct (www.eminidirect.com) and pay 3.42/side for the nqoos that i trade. happy with them and the j-trader platform.
I heard that Interactive Brokers do $4.40 per side but haven't confirmed that.
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  • rverheyen
  • 17-May-2006 at 2:44 AM
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  • Posts: 33
I use IB. They charge between $1.81 and $2.4 for mini contracts per side.

For charting I use QuoteTracker. I use TSim+ for executing orders. Both are free software but registering QT gives you up to 10 days intraday backfill.

Cheapest I found...

I haven't heard of TSim+ - do you have a URL for them?
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  • rverheyen
  • 19-May-2006 at 3:36 AM
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  • Posts: 33
Looks like good software on the face of it. Does TSim+ allow you to leave your stops at the exchange?
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  • rverheyen
  • 19-May-2006 at 10:50 AM
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  • Posts: 33
Yes, all stops are send to TWS and the exchange.

It is basic software but works well and is free...
I wish that I had more time to do a complete evaluation of all these software packages that are out there because I'm sure I'd learn a lot. Problem is that as soon as you've tried them all out and evaluated them then they all come out with a new version that fills all the gaps that you had previously identified.

A bit like buying a car. You spend a year test driving all the models that there are and then the next year there's another brand new set of vehicles and you have to start the process all over again - not to mention all the models and optional extras.
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  • rverheyen
  • 23-May-2006 at 5:26 AM
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  • Posts: 33
Maybe you should stick to the software that is working for you. When it does not (anymore) you look for something else.
This is true - but knowledge is power!


I also get asked this sort of question fairly often and like to be able to give accurate advice. Software that's good for me might not be the best for you.
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  • Trader Guy
  • 7-Jun-2006 at 4:47 PM
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  • Posts: 9
I started trading with United Trading Sevices, paying between 1.35 and 1.85 a side, just for execution though, i dont call in or use a broker.
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  • inventor
  • 24-Jul-2006 at 1:13 AM
  • Rep: 130
  • Posts: 190
quote:
Originally posted by George Soros

I don't use any oscillators or momentum indicators like you do - not that there's anything wrong with that - but I use support and resistance levels to trade off - both dynamic and static. So an example of a static support level would be the value areas or point of control from the previous day and a dynamic one would be the developing point of control or value areas for the current day. Then there are the initial balances and multiples thereof and also single prints and other market profile defined areas. I sometimes chart things like MACD or stochastics or a moving average but more out of curiosity than anything else. I used to be a fan of Bollinger Bands but I found that for some reason my discipline was no good when I was trading with them. I worked out a system with Bollinger Bands but just couldn't stick to it and I could never work out why I could not stay with the plan so I abandoned it in the end.


Thanks for sharing your trading strategy I have to research this because is Little over my head or knowledge.
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