Question

Dear Anna Really enjoyed the last webinar, although you were concerned about the technical glitches I didn’t find they detracted from the value of the knowledge, as per your books that I have read, it’s all excellent stuff. Just wondered who you use as a broker for Forex and Futures etc. and whether you would recommend them? I swing trade equities extensively, which I have been doing for around the same time as you because I also saw Albert’s article in the Telegraph and rang him, but never took his course! Best Wishes Adrian

Answer

Hi – Many thanks for your email and very kind words. Am always happy to hear from fellow traders – particularly if they have bought my books! It’s much appreciated. Can’t believe you almost become an Albert student – have to say a lot of it was very surreal & far fetched, apart from the intro to price & volume which could have been done in a couple of days! With regard to brokers, we’ve used Interactive Brokers for many years, namely because they are very competitive on commissions, and also offer virtually every market and instrument through the one platform. This helped enormously when we had a large US stock portfolio and were writing covered calls using options.

We use Interactive Brokers for futures particularly for trading indices, stocks and commodities. I have two spot forex accounts: one with Oanda & one with Tradestation. Neither offer great spreads, but this is not a problem, as I can also trade spot using Interactive Brokers, and in many ways this is more competitive since they use the funds in my account to reduce the leverage. As a true ECN broker they do not make their money from the spread, but from a small commission which is charged on each round turn or spot position. In addition, Interactive Brokers is also one of the brokerage accounts which is endorsed by NinjaTrader which I use with the Kinetick data feed for charting, and through the CME these two companies offer the CME exchange waiver programme. This gives you the option to avoid exchange fees, using the IB/NinjaTrader/Kinetick combination, provided you are logged in simultaneously to your brokerage and the feed at lease once a month. Its a great way to avoid these fees!

Hope the above helps & thank you again for writing to me – Anna