Please recommend a futures and stock broker and data feed

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Tresor
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Please recommend a futures and stock broker and data feed

Postby Tresor » 30 Oct 2013

Hi guys,

I haven't been trading futures and stocks for a few years (only forex). I lost touch with brokerage market.

I would like to resume futures and even stock trading (markets: America, Europe and Asia).

I need your recommendation. What broker and what data feed vendor you recommend that works well with MC and / or which broker and data feed you do not recommend (and why)?

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arnie
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Re: Please recommend a futures and stock broker and data fee

Postby arnie » 30 Oct 2013

Hi guys,

I haven't been trading futures and stocks for a few years (only forex). I lost touch with brokerage market.

I would like to resume futures and even stock trading (markets: America, Europe and Asia).

I need your recommendation. What broker and what data feed vendor you recommend that works well with MC and / or which broker and data feed you do not recommend (and why)?
It really depend what your needs are.
For trading futures and stocks worldwide, the best broker would be Interactive Brokers. All in one trading platform. The problem with it though is the datafeed.
What are your needs for datafeed? Do you need tick data? If so, forget IB feed, it's useless.
If you just need minute data than IB will be more than enough.

Usually, IB customers tend to use external datafeeds, such as IQFeed or eSignal.
Since you're trading worldwide, futures and stock eSignal would be the preferable choice since they cover almost every exchange in the world.

You than have brokers that use Rithmic as their datafeed, such as Optimus Futures. This feed has been receiving great reviews on BMT. Traders compared it with IQFeed and they are identical.
So with such broker you wouldn't need an external datafeed.

Tomorrow Multicharts will do a webinar with Katrin with Optimus and Rithmic feed. Maybe it would be interesting for you.

https://tradingroom.clickwebinar.com/Mu ... s/register

Tresor
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Re: Please recommend a futures and stock broker and data fee

Postby Tresor » 30 Oct 2013

It really depend what your needs are.
For trading futures and stocks worldwide, the best broker would be Interactive Brokers. All in one trading platform. The problem with it though is the datafeed.
What are your needs for datafeed? Do you need tick data? If so, forget IB feed, it's useless.
If you just need minute data than IB will be more than enough.

Usually, IB customers tend to use external datafeeds, such as IQFeed or eSignal.
Since you're trading worldwide, futures and stock eSignal would be the preferable choice since they cover almost every exchange in the world.
I will most probably go with IB then and an external feed.

1. Can one draw trendlines in TWS?

2. TWS is written in Java (or Java is needed on a computer while running TWS). I do not have Java and do not want to have it on my computer (for security reasons). Does one need to run TWS while trading with IB via MC?

3. There used to be some broker ratings / comparisons with regard to their financial stability, number of customer complaints. Can anybody share these with me?

Edit: found 'financial stability' data http://www.cftc.gov/marketreports/finan ... /index.htm

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arnie
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Re: Please recommend a futures and stock broker and data fee

Postby arnie » 31 Oct 2013

1. Can one draw trendlines in TWS?

2. TWS is written in Java (or Java is needed on a computer while running TWS). I do not have Java and do not want to have it on my computer (for security reasons). Does one need to run TWS while trading with IB via MC?

3. There used to be some broker ratings / comparisons with regard to their financial stability, number of customer complaints. Can anybody share these with me?

Edit: found 'financial stability' data http://www.cftc.gov/marketreports/finan ... /index.htm

1 - Yes, you can draw trendlines
2 - Sorry. You need Java, for TWS and/or for the Gateway. You don't need to run TWS for trading when using MC. You can run the Gateway (is installed with TWS). It takes a lot less computer resourses. The Gateway is an order routing.

TWS is an outdated platform. Their charts are a joke when compared with MC and all other platforms out there.

Thanks for the financial stability data report.

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Re: Please recommend a futures and stock broker and data fee

Postby Tresor » 31 Oct 2013

2 - Sorry. You need Java, for TWS and/or for the Gateway.
What broker / data feed can I use with MC that does not require installing Java on my computer?

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Re: Please recommend a futures and stock broker and data fee

Postby JoshM » 31 Oct 2013

What broker / data feed can I use with MC that does not require installing Java on my computer?
CQG, ZenFire, Rithmic brokers. Possible more (perhaps OEC?).

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Re: Please recommend a futures and stock broker and data fee

Postby Tresor » 31 Oct 2013

What broker / data feed can I use with MC that does not require installing Java on my computer?
CQG, ZenFire, Rithmic brokers. Possible more (perhaps OEC?).
Could someone recommend a CQG, ZenFire, Rithmic broker or discourage to use a particular CQG, ZenFire, Rithmic broker (and put forth some arguments)? - this would be helpful.
Last edited by Tresor on 31 Oct 2013, edited 1 time in total.

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Re: Please recommend a futures and stock broker and data fee

Postby Tresor » 31 Oct 2013

Do I need to have Java to enjoy IQFeed with MC?

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Re: Please recommend a futures and stock broker and data fee

Postby arnie » 31 Oct 2013

Do I need to have Java to enjoy IQFeed with MC?
To my knowledge, no.

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Re: Please recommend a futures and stock broker and data fee

Postby JoshM » 31 Oct 2013

Do I need to have Java to enjoy IQFeed with MC?
To my knowledge, no.
That's right.
Could someone recommend a CQG, ZenFire, Rithmic broker or discourage to use a particular CQG, ZenFire, Rithmic broker (and put forth some arguments)? - this would be helpful.
I have not enough experience with either one to give a comment, and it also depends on what you're looking for in a broker. Have you looked at the broker review threads on BMT?

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Re: Please recommend a futures and stock broker and data fee

Postby Tresor » 31 Oct 2013

I have not enough experience with either one to give a comment, and it also depends on what you're looking for in a broker.
Broad market coverage and ideally a master to sub-accounts allocation feature.
Have you looked at the broker review threads on BMT?
I have, and IB was my initial choice untill I learned about Java.

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Re: Please recommend a futures and stock broker and data fee

Postby Tresor » 31 Oct 2013

1. I have been doing a little research on brokers' financial statements.

2. IB's 2012 financial position significantly worsened in relation to that of 2011. They generated USD 200 million of cash less (consolidated statements) from operations (30% less than in 2011) and even yet cared to show a fiscal (taxable) profit. They are contracting, but forgot to cut expenses. No big problem at the moment, but in 2 - 3 years - who knows? - look for balance sheet's ballooning in this timeframe.

3. Okay, my FCM options for now are AMP and Interactive Brokers so far (others are not interesting). Could anyone suggest a CQG, Rithmic, TT or Pats FCM broker that is not listed on MC's official list of supported brokers?

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Re: Please recommend a futures and stock broker and data fee

Postby Tresor » 31 Oct 2013

This FCM http://www.advantagefutures.com/ is mentioned as rithmic partner http://www.rithmic.com/partners.html

Is it possible to receive rithimic data to MC and execute orders through this broker using MC?


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