Fast Reliable and Cheap Emini Broker

[neutral 10]

Hello

 

Lately i have been analysing the slippage I have on CME Emini trades, since it has come to my attention that the actual execution of my Emini CME Futures orders is

kind of slow.

 

Since the slippage on my stopmarket entry and exits is more than the commission I pay,

im wondering are there alternatives brokers that are as relaible and cheap, but are substantial faster in executing orders than IB.

 

Or is there something I can do, latency or something, to get quicker order fills?

[brownsfan019 17]

I've traded with Open ECry for awhile and always had good fills on my orders. Platform and data are free, commissions are competitive. Take a look at the demo and see if it has what you need.

[TheDude 10]

I'd have thought IB would be pretty quick, although I've never used them.

 

Are you using resting orders or market orders? Which product?

 

If you're trading ES in reg hours you should have almost 0 slippage, especially if using resting orders (orders in the market before price gets there - rather than trying to lift bids/take offers).

[MadMarketScientist 11]

I've been very happy with IB and speed of executions -- if anything I think any delay comes on my end.

 

However, I can also say I have some funds being traded through Mirus Futures & ZenFire and when comparing fills have been impressed - some of that could be due to their hardware/internet perhaps being faster than mine so not 100% it's the broker but another good option.

[VMtrader 10]

I agree with TheDude that there should be no slippage with an e-mini in regular hours. Also, IB has direct connections and a good platform, so that probably isn't the issue. Although you have probably thought of this, double check your connection speed and try having no other programs running when trading. Here is a good place to check your connection: Speedtest.net - The Global Broadband Speed Test

I would say that you want to be at at least 1 up and 5 down. I guess it couldn't hurt to try another firm, there are several good ones offering really low rates.

 

Vance

[MadMarketScientist 11]

A couple other suggestions. Run a wired connection not wireless on your trading computer.

 

Also I find windows xp the best to trade on. Not vista or win 7.

[ram_zaan 10]

yes i agree with Open E cry they are good and i also tried Able World trading they are also good

[pathfinder62 10]

MAD SCIENTIST: "Also I find windows xp the best to trade on. Not vista or win 7."

 

Your comment regarding WIN XP being best to trade on surprised me. I would have thought Win 7 would provide faster thru put, etc. I have XP now but just bought a new

system with Win 7 on it.

 

What did you find specifically better in XP vs. Win 7?

 

Thanx ahead of time. Tom M. aka pathfinder 62

[MadMarketScientist 11]

Without question Win 7 will blow away Vista for trading. So that's a definite.

 

My preference of XP over Win 7 isn't anything major -- if you have a fairly current and powerful computer Win 7 is clearly very capable. However, when I ran a newer laptop with Win 7 and all my trading software it was frequently bogged down -- a weaker laptop in XP, same software and no issues.

 

I think XP is still less of a drain overall and that's why I still have a preference for it. It's just so stable and less of a drain.

 

However, I'm sure for most, Win 7 on a current computer is going to be fine.

 

MMS

[pathfinder62 10]

Thanx again for the prompt follow up and info, MMS.

 

Pathfinder62

[emg 12]

You should check out my broker postrockglobal.com. great commission and best service. I use the CQG platform to for my spread trades and fast order filled. CQG is one of it kind for pro traders.

[VMtrader 10]

I tried them and they want too much in commission. I currently pay $1.18 a round turn.

[MadMarketScientist 11]

$1.18 with all fees RT? Seems well below a retail broker charge.

[TheNegotiator 13]

Yeah I would second that Mad! Unless you are sitting in an arcade with lots of other traders, the arcade owns a seat and you do some volume, I would think $1.18 is probably way too low for the total RT cost.

[MadMarketScientist 11]

I know there are definitely some volume deals out there for retail traders --and that's what I'm referring too since that's within the reach of 98% of the people that would be hear.

 

As I have mentioned I trade with IB and I know while I don't get the lowest rate available it's low enough given the quality executions and system reliability. Price matters - as do a few other things.

[VMtrader 10]

I used to trade with IB, but found the platform a bit archaic and some execution delays as a result. At IB I paid $1.70 RT plus fees; which were beyond exchange and NFA unfortunately. Also, when occasionally I had to call.. oh my goodness. Anyways, since I traded at Mirus and Man and ended up at Generic Trade. I was not happy about giving up my Ninja; but after getting used to their platform, I really like it quite a bit (its really, really fast). Anyways, sorry to ramble - I pay a total of 1.18 rt plus exchange and NFA ONLY.