What are the highlights of some popular trading platforms?

Futures brokerage firms typically offer traders various trading platform options including a “free to use” version along with an array of premium platforms available for an additional cost. Last month we discussed the various types of platform subscriptions and capabilities. This month we’ll focus on a few of the more popular trading environments available to traders, their costs, and highlights.

The "free to use" trading platforms provided to brokerage clients are often developed in house and are, therefore, only available at the particular firm offering it. Don’t assume the free platform is automatically inferior to the high-cost options. In fact, one of the most efficient and feature-rich platforms we’ve made available to our clients at DeCarley Trading is accessible at no cost to clients. Don’t forget, brokerage firms only make money when their clients trade, so great strides are made to ensure it is as easy as possible for clients to pull the trigger.

Premium platforms are developed by third parties whose sole purpose is to generate revenue via platform subscriptions, sales, and fees. These third party vendors don’t benefit from trading commission, or any other fees you might pay to your brokerage firm; accordingly, they have a large incentive to continually improve their product to make it attractive to traders. If they didn’t, traders would opt for the free options. For those looking for upgraded charting, complex order types, the ability to save settings or host contingent orders on a server, or other convenience features, a premium platform might be able to better accommodate.

Some of the most popular "pay to use" trading platforms are QST (Quick Screen Trading), Cunningham Trading System's T4, and Rithmic's R-Trader. Each of these platforms has significant capabilities with various strengths; consequently, I've arranged to offer all of them to my brokerage clients along with multiple "free" platform choices. I cannot do any of these platforms justice in a brief description, but felt it worthwhile to provide a brief synopsis.

 

Continue reading about preferred trading platforms in Stocks & Commodities Magazine

 

Futures and Options Trading Booksby Carley Garner

What People are Saying about Our Commodity Trading Books

Choosing a Futures Broker and Brokerage Service

Full-Service or Online Trading?

The decision to trade online or through a full-service commodity broker will undoubtedly make a large impact on your bottom line.

Learn More

A Fair Commission Rate vs. Low Commission

To look at commission rates objectively, we must understand the background of the futures industry and how brokerages accept risk for fees.

Learn More

Choosing a Commodity Brokerage Firm

Deciding on a commodity brokerage firm is a significant decision and shouldn’t be taken lightly. Not all traders and brokers are compatible.

Learn More

Choosing a Futures and Options Broker

Most traders in search of a futures broker are concerned primarily with trading platforms, commission, and quality guidance.

Learn More

The Truth about Futures Commission

The goal of futures trading should be to MAKE money, not SAVE it! Discount commodity brokers cut corners that cost their clients time & money.

Learn More

Commodities via Futures or ETFs?

A key difference to trading commodity futures over ETFs is leverage, but there is more to discuss, such as taxes, market hours, and efficiency.

Learn More