I was told Interactive Brokers is one of the biggets future trading borker, is that right, or which is the biggest?
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There are two ways to measure who is a good futures broker those are to see their customer seg required, and their net assets.
Then you want to know how they are wired into the CME, for instance the company I use is MF Global and the Man Pro Software which for many professional traders the preferred platform. There a million of retail platforms out there, but the speed of execution on Man Pro is the fastest. Some of the retail platforms are Ninja Trader, Tradestation, Schwab, the list goes on forever.
The first step is to do that, then you want to check the NFA for how many regulatory actions against them.
The link for the net capital from the CFTC is here
Also, you want a commodities broker or introductory broker that provides you with information that is relevant to your trading.
I use HL Camp & Company you can check them out on the NFA they are licensed and have no actions agaisnt them. Also, you can ask them directly to see the quality of their work and research which is very highly rated as they are quoted all the time on the Wall Street Journal like this article from Tuesday of this week:
Interactive Brokers is an ok futures broker, but they are known for Options more than anything. Man Financial or MF Global now is directly on the CME and your buy and sell orders are executed instantly.
The other option that for some institutional traders that could be superior to MF Global is with Goldman Sachs & Co but to have an account with them you need $2,000,000; while MF Global you could open an account with as little as $10,000 or so to trade one contract ($5625) and have enough for margin.
Aside from that you need to learn what indicators and information is needed to properly trade the ES contract. There are many data vendors, and before I learned which ones are useful I made a lot of mistakes, and if it wasn’t for the people HL Camp & Co I would still be trading without indicators, using Elliot Wave, and Fibonacci Numbers which are all total b.s.
I would talk to them they are very helpful and will guide you in the right direction here is their website
Here is an article from Investopedia that I found helpful in learning about the driving force of the market Program Trading specifically the S&P and in turn the ES contract.
Also, if you would like to email someone direct rather than their info email you could contact he was very helpful when I started trading using their method and he facilitated a lot of information to help me make the decision on using their services, and attending their seminars.
Which I am glad I did.