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I guess it depends on what you want from a on line futures broker. If its to
trade e-minis tho, I have some thoughts on things that I have found
important in my experience.
1. Order Entry Speed--- This is the time it takes to enter the order and the
time it takes to get the fill back. Entering orders in my experience should
be entirely point and click. If you have to type numbers you waste time, and
risk "fat finger" errors.
2. Execution Speed ----Once you hit the send key the order should hit Globex
within a second, and fills back within seconds of that. Which leads to the
next point...
3. Direct Access to Globex--- To get 1 and 2 above you need DIRECT ACCESS.
If your going thru a routing system, or any system with human intervention,
its not going to work in my experience. Markets just move way too fast.
I have not yet found have not yet found a system that delivers this for free
yet. Probably the closet is PFG best direct. But they have had some software
issues. When right though they are good.
If you really want a FAST execution system with streaming quotes and nano
second order entry and fills, have a look at the PATS system. It is an
independant piece of software that you lease, but it is pretty good compared
to the run of the mill stuff. I believe several brokerage firms offer it.
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