This was an important decision as soon as I don't have much money and I would like to avoid giving the wrong person. High end, bad fills, had I heard all the horror stories so I make sure I received this decision right. The most important decision I learned over the last ten years has worked with over a dozen futures brokers is that each broker has strengths and weaknesses ... our job is to find the best match for our objectives and resources as a day trader.
In my situation I was a kid college with very little money, reliability, or any other for that matter, all I had was around $ 1500 cash, which was my world and I didn't want to lose it. Due to the low my balance, needs a futures broker with low account minimums. I found getting a broker with a low minimum balance, the fees were higher, but I was able to find a good fit. If they have had a slightly larger point you will have special easy for lower fees, which was a good learning lesson from scratch ...don't go into this game under capitalized the most expensive in this manner.
I was also brand new to trading futures, so you need a little help when you're in motion. I didn't understand your paperwork and really don't have any knowledge about margin accounts or to round series supplies.Need additional help with the basics of managing a futures account, which means that we should find a broker who specialized in helping new dealers. to note that there were many futures brokers that will help me with my questions and I walk you through the process. Just had to ask for help.
Another important aspect to consider is the type of negotiation will do.I would like to concentrate on intra-day trading, which meant that all my positions will be closed at the end of the day; this is very important, because some of the futures brokers worked with lower day-trade margins (margin maintenance) by others, who was a better fit for my desired style of trading.
My programming makes all my trading during normal trading hours and never hold delivery overnight, so that you don't need to worry about over-night room as soon as day-trading margin. After all of these variables is important to look at, I found three factors are most important while examining a futures broker.
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