|
PureBytes Links
Trading Reference Links
|
Earl
Thanks for taking the time to reply. I visited the web site you
mentioned and found the information there to be very informative.
I live in Key West Florida and we don't have any brokerage firms within
150 miles of here so all my research must be done via the web. If I do
decide to start trading futures I'll start off with a full service
broker but would probably want to eventually move on to online trading.
I briefly visited LFG's web site but couldn't find a listing of their
brokerage firms or the IB's who clear through them. Does anyone know
where I can find this information?
Thanks again Earl for taking the time to respond to my questions.
John Manasco
Earl Adamy wrote:
>
> Leo is LFG's proprietary browser-based trading system. IB's are independent
> brokers who serve as agents for futures clearing merchants (like LFG). FCM's
> perform the actual execution and clearing and hold the customer accounts. LFG
> also operates several wholly owned brokerage operations under various names
> including ZapFutures.
>
> See Discount Brokers Ranked http://www.sonic.net/donaldj/futures.html for a
> fairly comprehensive list of brokers with information, rates and comments. This
> together from other comments you get here should provide a starting point for
> your own investigation. The one thing you will need to determine is the level of
> service which you will require which can range from virtually no broker contact
> (discount electronic) to full service brokerage where the broker will watch
> markets for you, execute discretionary orders ("if sugar reaches 850 and looks
> like it will hold, buy a contract for me, and then put a stop in at 825"),
> provide trading advice and recommendations, and teach you about trading.
>
> While I'm in process of switching to an LFG owned brokerage and LEO, I have no
> experience yet upon which to base a recommendation.
>
> Earl
>
> -----Original Message-----
> From: John Manasco <manasco@xxxxxxxxxxxx>
> To: eadamy@xxxxxxxxxx <eadamy@xxxxxxxxxx>
> Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Friday, July 24, 1998 1:10 PM
> Subject: Re: Discount Brokers
>
> >Earl
> >
> >Maybe you can answer a couple of questions from a novice. First, you
> >mention LFG's LEO. What is LEO? I've seen ads for ZAPfutures from LFG,
> >is that different?
> >
> >Second, what is an introducing broker and why do I need one. Several
> >people have recommended LFG but your post says there are many LFG
> >brokers, some wholly owned by LFG while others are indepentent
> >Introducing Brokers.
> >
> >I'm confused.
> >
> >
> >Thanks for your time.
> >
> >John Manasco
> >
> >Earl Adamy wrote:
> >>
> >> I took a hard look at JC's system and was not impressed. When I relayed my
> >> disappointment to the system developer, they said it was an early version and
> >> would eventually get better. I'm not aware of any significant improvements
> >> released since I looked at it several months ago. It is my understanding that
> >> the JC system does nothing more than route your order to a desk where it is
> then
> >> called into the pit and the fills are then entered into the computer and sent
> >> back to you. It was my opinion that it would be faster to call the broker
> desk
> >> direct so I never used it. Unlike LEO it is not connected to CUBS/TOPS which
> >> communicates directly with hand-held terminals in some CME/CBOT pits. From
> what
> >> I can tell, although not perfect, there is nothing better in the industry
> today
> >> than LFG's LEO and I'm in the process of transferring my account to an LFG
> >> broker - there are many LFG brokers from which to choose. Some are wholly
> owned
> >> by LFG while others are independent Introducing Brokers.
> >>
> >> Earl
> >>
|