10 Best Broker For Futures Trading for Commodity in 2022-2023
Broker Futures Trading history is
as simple as understanding the concept of farmers planting crops every spring,
and then, every fall, farmers harvesting grain and locking in prices early in
the season, rather than later. In fact, farmers were originally the ones who
taught Wall Street how to trade futures. No lie!
In choosing a Broker Futures
Trading, serious futures traders must balance low commissions, intuitive
platforms, excellent customer service, and up-to-date research options. Traders
also need charting and screening tools to guide decision-making.
In a world where futures trading
is already a high-risk endeavor, it’s even more of a risk if a platform is
clunky, a trading app can’t keep up, or customer support has no idea what a
Fibonacci indicator is. Everything must tick along as smoothly as a Rolex
Cellini tracks the seconds in a day.
What is Futures Trading?
Futures trading is a derivative
trading transaction by works on a margin system. Usually, people will believe
more in real types of investments, such as property because they are physically
visible and profits can be estimated.
However, the types of gold,
stocks, and various other sectors in the world of futures trading are no less
profitable. It is proven by the increasing number of digital platforms that
facilitate the purchase of gold, stocks, and mutual funds with a minimum value.
Beginners from the younger
generation can even start investing in futures through this facility. As
technology advances, more and more people are willing to open themselves up to
participate in futures trading.
Top 10 Best Broker For Futures
Trading Platform for Commodity in 2021-2022
Start with our guide to find an
online Broker Futures Trading platform to make your trading experience
seamless.
1. NinjaTrader
NinjaTrader has an amazing
trading platform for those just beginning their trading careers as well as for
advanced traders. Its extensive collection of technical analysis tools is
perfect for beginners utilizing a demo account, and it even offers a 2-week
free trial when you register.
If you want to use NinjaTraders
software, you can get it for free when you fund a brokerage account or you can
lease the software. You will get access to charts, simulated trading, and
market analysis, the essentials for futures trading, even if you get the
software for free.
NinjaTrader won the 2016 True
Edge Broker Futures Trading of the Year Gold Award and has the only platform
powerful enough to run the Diversified Trading System. In addition, NinjaTrader
offers extensive data feed options, a flexible interface, and free
demonstration options.
The minimum opening balance is
$400, and commissions start at $0.09. Futures traders can get the lowest
NinjaTrader commissions by acquiring a platform lifetime license. In addition,
the margin requirement is $500 per contract.
2. Tradovate
Are you an active futures trader?
Look no further than Tradovate. Tradovate offers a Netflix-like approach to
commission-free trading and cloud-based solutions. You’ll get an integrated
experience you can carry seamlessly across any device whenever you want it.
Tradovate is the very 1st online
futures and options brokerage to combine next-generation technology with
flat-rate membership pricing. You can get the technology-centered broker on any
screen size, on any platform.
Tradovate delivers a seamless
Broker Futures Trading experience by offering:
1 app to fill all your needs
A pricing model that saves you
money over the traditional commission model
Improves the customer experience
Gets rid of fragmentation (other
offerings require you to go through a software provider, then find a brokerage,
then find an FCM) – which adds costs
3. Discount Trading
Futures traders looking for
volume discounts have plenty of options, but few make trading as simple and
affordable as Discount Trading. For starters, Discount Trading doesn’t just
offer affordable commissions, they have some of the cheapest trading fees of
any futures broker currently on the market!
If you make only a single futures
trade each month, your commission will be a mere 49 cents per side. However, if
you’re an active trader flipping more than 50,000 contracts per month, your
commission will be just 19 cents.
If you make only a single futures
trade each month, your commission will be a mere 49 cents per side. However, if
you’re an active trader flipping more than 50,000 contracts per month, your commission
will be a measly 19 cents.
Additionally, Discount Trading
offers a variety of trading platforms for investors of all skill levels.
Amongst these platforms is FireTip, a simple but effective trading platform
that provides live quotes, market alerts, real-time news, and a live chat
feature for customer assistance.
4. Optimus Futures
Optimus Futures is a discount
futures trading broker geared towards both beginner and experienced traders
alike.
With low account minimums, fast
account approvals, and easy funding and withdrawals, Optimus Futures is an
ideal solution for anyone interested in trading CME Group’s micro futures with
free platforms and low margins.
Optimus customers also get access
to dedicated staff to address your trading needs at every step, from initial
account application and platform set-up to providing ongoing education and
resources to help you learn more about the futures markets via guides, videos,
podcasts, and articles.
This unique combination of free
platforms and discounted commissions combined with an emphasis on trader
development makes Optimus Futures potentially idle for not only existing
futures traders.
But also beginner traders from
other asset classes such as Stocks, Forex and Cryptos. So, whether you are a
veteran futures trader or just starting out, look at Optimus Futures and their
Micro Futures product offerings.
Broker Futures Trading and
options involve a substantial risk of loss and are not suitable for all
investors.
5. Generic Trade
Generic Trade has some of the
lowest commission fees of any futures traders at a maximum of $0.59 per trade.
Generic Trade prides itself on
transparency and keeps its prices lower than other Broker Futures Trading by
eliminating the need for salespeople and brokers.
The firm believes modern traders
already have such a wealth of information at their disposal they mainly need a
firm to execute their trades at the lowest cost. It also doesn’t have minimum
account balances and volume requirements, making it assessable to most traders.
Finally, Generic Trade boasts
some of the lowest latency for executing trades due to advanced technical
infrastructure. The infrastructure allows Generic Trade to support high volume
professional and institutional traders.
6. Tradestation
TradeStation offers 2 distinct
account types: its basic TS GO account aimed at new trades and its more
in-depth TS Select account aimed at more advanced traders looking for a
comprehensive set of tools and research options.
There’s no minimum account balance
required to open a TS GO account. TS Select accounts require a $2,000 minimum
deposit.
Signing up for an account with
TradeStation is intuitive and simple. You’ll begin by choosing the type of
account you want, entering a little personal information, answering a few
questions about your experience level, and agreeing to the company’s terms of
service.
A TradeStation representative
will review your application and open your account. As soon as your account is
open you can begin funding your account and making trades.
TradeStation excels in education.
Though it was originally aimed at professional investors, TradeStation now
offers a wealth of education options that brand new traders can understand and
use.
7. Interactive Brokers
Interactive Brokers for futures
trading offers outstanding, competitive fees. Cost is $0.85 for futures and
futures options trading, overall, Interactive Broker Futures Trading offers the
lowest margin rates in the industry, between 1.91% to 1.41% (the lowest
percentage is for clients with $1 million with Interactive Brokers).
It offers a fully-configurable
Broker Futures Trading platform for knowledgeable traders with more than 50
order types.
IBKR Futures Pricing:
IBKR Lite: $0.85 per contract
IBKR Pro: $0.85 per contract; tiered
volume discount available
As for tech offerings,
Interactive Brokers features programmable hotkeys and customizable order types;
watch lists can have up to 338 columns and are truly customizable.
All devices, including iPhone,
iPad, Apple Watch, and Android smartphones and tablets are supported.
Interactive Brokers made our list for the best brokerage for online stock
trading.
8. TD Ameritrade
TD Ameritrade requires a low
account minimum at $1,500 but it’s $2.25 per contract, per side (plus exchange
and regulatory fees). TD Ameritrade’s day trade margin is 25% with a $15,000
minimum with virtual trading capabilities and over 60 futures products.
With Thinkorswim, there’s no
question that entering and executing orders is fast, with many advanced
features.
The ThinkBack feature permits
users to backtest strategies and TD Ameritrade’s free platform (Thinkorswim),
research, and data are all excellent.
The ThinkBack feature permits
users to backtest strategies and TD Ameritrade’s free platform (Thinkorswim),
research, and data are all excellent.
With its 24/7 phone support and
free seminars and online education, the technical and mobile options make TD
Ameritrade worth checking into. TD Ameritrade made our list for the best
brokerage for online stock trading, and for beginners.
TD Ameritrade does have high
commissions that aren’t ideal for traders searching for a bargain.
9. Charles Schwab
Charles Schwab’s name seems to be
synonymous with the word “education,” and that’s no surprise once you land on
Schwab’s web page. After all, “Investment Advice” is a bold, clickable heading
directly on the home page.
If you’re a futures trader,
Schwab Trading Insights will help you, and there are a plethora of
opportunities to learn more on Schwab’s active trader futures section.
The investment research
opportunities through Schwab are also excellent. Customers have access to free
stock reports from S&P Capital IQ, Thomson Reuters, Credit Suisse, and
more.
You can also access Schwab’s
Equity Ratings, which cover approximately 3,000 U.S. stocks, and grade them on
an A, B, C, D, and F scale.
1 strike against Charles Schwab
is that the firm’s margin rates are notably high.
10. E*TRADE
E*TRADE offers over 200 futures
products, and that’s why we’ve put it in the category of myriad options
available to investors.
In addition, if you’d like to
trade futures with E*TRADE, it will cost you $1.50 per contract. E*Trade is no
stranger to pro-level tools and top-notch platforms.
You’ll feel right at home with
research capabilities, too: E*TRADE Futures Research Center is powered by the
CME Group-1 of the world’s largest futures exchanges.
Whether you’re into metals,
currencies, or more, E*TRADE can offer a multitude of Broker Futures Trading
options for you.
What Matters Most Broker Futures
Trading?
Ultimately, depending on the
trader, the Broker Futures Trading characteristic that matters to one trader
may matter more or less to another. For example, each trader’s preference on a
platform can vary widely.
Not every trader will agree on
what he or she would like to see on a broker’s platform. (Remember, not every
painter prefers the same paintbrush, and the same goes for individual traders.
Some don’t need all the bells and whistles).
Ultimately, depending on the
trader, the Broker Futures Trading characteristic that matters to one trader
may matter more or less to another. For example, each trader’s preference on a
platform can vary widely.
Not every trader will agree on
what he or she would like to see on a Broker Futures Trading platform.
(Remember, not every painter prefers the same paintbrush, and the same goes for
individual traders. Some don’t need all the bells and whistles.)
And finally, customer service can
make or break an experience with that particular broker. Determine your
personal priorities, and use our guide to find the best futures brokers
platform for you.
Turn to Webull
0 Commissions and no deposit
minimums. Everyone gets smart tools for smart investing. Webull supports full
extended hours trading, which includes full pre-market (4:00 AM – 9:30 AM ET)
and after-hours (4:00 PM – 8:00 PM ET) sessions.
Webull Financial LLC is
registered with and regulated by the Securities and Exchange Commission (SEC)
and the Financial Industry Regulatory Authority (FINRA).
It is also a member of the SIPC,
which protects (up to $500,000, which includes a $250,000 limit for cash)
against the loss of cash and securities held by a customer at a
financially-troubled SIPC-member brokerage firm.
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