Commodity and Currency Trading Websites?
Sunday, August 1st, 2010 at
8:39 am
Hi,
What are the good Commodity and Currency Trading Websites? I would like to start trading. I am a low volume trader probably 1-5 trades a month.
Which sites have good rates?
Tagged with: commodity • Currency Trading • trades
Filed under: Uncategorized
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This is a tough question as you could go with a traditional low cost broker, but if you want to catch quick moves a broker with a DOM (Direct Order Module) may be the way to go as the order placement is quicker and the margins for the trades are lower, not to mention the commissions are less as these brokers are in the businesses daily.
Try http://www.infinityfutures.com or http://www.mirusfutures.com for good service, execution and low commissions.
We use ScottTrade. It’s only $7 per transaction, and they’re very highly regarded among online traders.
Most of the professional trading systems available to mere mortals, such as interactivebrokers.com & saxobank.com are really geared up for large scale trading.
You will get quite low commissions but only with scale and your probably have to pay for live data.
If your ok with that, then have a look at those two sites & google for competitors.
Another way could be to trade commodity ETF’s such as DBC, DBA, DBB, DBV, DEC, FXA, etc.. & there are many more. You can play the commodity & currency markets without the risks of massive leverage.
My site – http://www.thedailytradingreport.com – has a free trading newsletter that provides overviews of the equity, bond, commodity & currency markets – it might be interesting for you.