10 Things to Consider (Other Than Price) When Choosing an Affordable Trading Online System

If you are going to make your own trading decisions in a self-directed account, you have the option of trading by phone with a live broker or online through a trading system. In choosing a trading online system, affordability is an important factor. But if you are an active trader or a professional trade manager, you also should look for a system that accommodates your trading style rather than requiring you to change to fit its parameters. If you settle for yesterday’s technology or for systems or order routing that don’t meet your needs, you could end up dissatisfied and shopping around again.

1. Market
Does this online trading system make available true direct market access to the major global futures exchanges on which I want to trade?

2. Pit trading
Does it also offer an efficient and responsive procedure for trading pit contracts?

3. Strategy support
Does the online system allow me to effectively apply complex trading strategies (OCO, GTC, FOK, IOC STP LIMIT, Trading Stops, Brackets, etc.)?

4. Up-to-date information
Will I need a separate subscription to an external data vendor to access streaming quotes, price alerts or news feed customized to my preferred contracts?

5. Technical charting
 Are the built-in charting function, chart styles, and indicators I wish to employ available?

6. Advanced customization
Does it allow me to customize indicators?

7. Detailed reports
Will I need additional software in order to generate detailed, custom reports?

8. Institutional trading
Can it meet my special needs as a CTA or professional trade manager? For the creation of allocation block accounts without back office trade reconciliation? For the efficient handling of large batches of trades?

9. Storage and reliability
If I temporarily lose connectivity between my computer and the server, will my working orders still process?

10. Tech support
Is sufficient tech support available online or phone in order to keep me up and operating when I need to be?

These questions are designed to get you started. Not all "affordable" online trading systems are going to meet your needs. Based on your own specific trading requirements, you will probably have additional queries. An efficient, affordable online system can help you boost your bottom line, so find one that will work well for you. 

If you are interested in a broker-assisted, full service account, call 1-866-840-9075 or email us at support@randolphread.com to set up a personal phone consultation. Our experienced brokers and advisors help investors understand, navigate, interpret and trade the commodities futures and futures options markets. With a thorough understanding of the importance of managing risk, and the unique characteristics of traded commodity, index, financial, and currency contracts, we develop customized advice based on each client’s unique set of needs, motivations, understanding and expectations.