Pls Recommend me a Futures Trading Broker :)

[Rimuru]

With edu ninja, any problems with ninja trader as future broker? And is there any 3rd party broker you would recommend that works with ninja trader 8? And Why?

P.S
What would u look for in a futures broker?

[Ninja_On_The_Roof]

2 hours ago, Rimuru said:

With edu ninja, any problems with ninja trader as future broker? And is there any 3rd party broker you would recommend that works with ninja trader 8? And Why?

P.S
What would u look for in a futures broker?

Hello,

I do not use edu NT for my trading activities so I cant say much regarding this part. For me, personally, when I know I put my hard earned money on the line each single day, so I do desire to use an official and legit platform from NT. I want the very best of it when it comes to this issue. Still, I know many here have been using the edu NT for quite sometimes and they are alright.

As fas as for future brokers that use NT, there are a few left in town. Well, Ninjatrader is one of them first. Then there are AMP Futures, Optimus Futures, Interactive Brokers, TD Ameritrade and Tradovate...

When you pick and choose your broker, always wanna take a good look at their services, how long have they been in the business. You certainly dont want to end up with one that flies by the night or goes bankrupt down the road. How is the customer service? Do they have a dedicated phone line to answer all of your needs and questions and concerns? Do they have a chat function on top of the phone line? 

Then comes the fees. Cant stick with a broker that charges you up the zing zang for everything that you do. Ask questions. See how much they charge you to get in a trade and to get out, roundtrip, for different types of instruments you wanna trade. How much is their margin? Obviously, this can fluctuate due to market conditions or between day and night or after trading hours. But you gotta know and understand this margin part well or else you will end up in big trouble.

Then, there are some brokers that require a minimum amount of deposit. Such as IB broker but I believe they have the best discounts of all, last time I looked.

Then, how is their process of depositing and withdrawal of money? How fast? Remember, money aint yours until it is in your pocket. You do not want to be with a broker that takes a week or 2 or more to send you your earnings. You want it now. You want it fast. 

Lastly, hope that ot would never happen to you or any of us traders. You always want to have their dedicated phone numbers stuck to your monitor or somewhere near by. In the events of you losing electrical power, earthquakes, disasters, wars...and you cant have access to your trading account to exit or to close out your trades, that would be painful. So yes, another side note, always have a stoploss. 

PS: I have been with NT for may years without any issues. You can start trading with them with just $500. Their withdrawal process is fast. It usually takes 1 day and I see my money in my checking account. Faster if you request from their customer portal online via Wire instead of ACH method.

You can too, negotiate with them if you trade quite a whole lots of cars each day, to get better discount on commissions.

I also have a lifetime NT platform that I purchased many years back. This also gives you some discounts on commissions. They recently changed a bit. The live data is included and you also can use TradingView through NT.

Edited 1 hour ago by Ninja_On_The_Roof

[Rimuru]

@Ninja_On_The_Roof Thanks a lot for the detailed answer, this helps a lot for a newbie in futures like me 🙂 

I will check those brokers out