What are some best online commodity trading platforms?
Joe Fallico , Commodity Trading Advisor (CTA) & Commodity Futures Broker, InsigniaFutures.com - with both Series 3 and Se...As a futures broker, we offer our clients many choices of trading platforms. From my personal experience, our clients tend to choose the Firetip trading platform over any other. The main reason clients like the Firetip platform is due to its ease of use. It's designed to be very user friendly. Beyond Firetip, NinjaTrader would be the next most popular. NinjaTrader has many great features but has a bigger learning curve. I recommend getting demos of any platform you're interested in and trying them out to see what best fits your needs. I must admit, I'm relatively biased in this answer (since I'm the founder ofAroundCommoditeis.com). However, let me try to give as an transparent answer as possible... Commodity trading offers a lot of opportunities for someone who knows what (s)he's doing. And the intention to start with a simulation tool is quite appropriate. However there are several other aspects one should take into account when considering commodity trading.
- Theory: one requires some level of basic understanding of commodity futures (& options) markets. Concepts such as convergence; backwardation; contango; spread; basis; etc. are the basic building-blocks of commodity trading. These and other concepts need to be properly understood before doing any trading.
- (Historic) price analysis: while the past is not a good predictor of the future, one should focus on understanding trends in commodity prices; variations between local & international markets; volumes traded etc.
- News: !! for short-term trading, it is of utmost importance to learn (and practice) how news affects price movements. When learning the theory, one will understand that commodities futures are inherently linked to information and more importantly interpretation of news by market participants.
- Start trading!! in order to test your skills it is of outmost importance to apply your ideas and strategies in real life! That being said, I would never recommend to start trading with real money without any prior experience. So a simulation (with real - live data) is a must to both test your skills and discipline!
- Interaction: while trading, it is very useful to submerge yourself in an environment with other traders. Not only will you learn from one and other, it will also help one to understand how other market participants interpret
the markets; news; etc.
It is for such questions that we have started a new platform: www.AroundCommodities.com
the platform offers you: Innovative e-learning content - Latest News and Views - Accurate Data - Robust Tools - trade Commodity Futures - and finally the Ultimate Social Community Experience.In case of a good research you yourself will see that there are many trading platforms, and which one to choose is quite an individual question. You should try to use many trading platforms, and only in that case you’ll see which one is the best for you. By bringing my example, I can advise you to trade on NetTradeX trading platform. It’s very easy to use, and what is more important it gives you the chance to create your own trading instruments, which really makes the trading more interesting. Good luck It's not a rule, but to a degree you want to choose a platform that has some sense of "community" where users have some sort of collaboration between them beside the company support. We are brokers, and even we find it rather to support certain platforms that have a small number of users. Essentially, we always ask ourselves what can we bring to the markets that will be useful for our traders. This is not far from the dilemma of a futures traders that is asking what platform should I use or improve the trading experience. Amongst a few that come to mind are ones that I would consider is MultiCharts, SierraCharts, CQG Trader, CTS and Trading Technologies.
There is a substantial risk of loss in futures trading.
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Singapore has become the hot place for commodity trading. Singapore has various traders who are trading in commodities like gold, silver, crude oil with the help of service providers. They prefer usingcommodity tipsfro making profit. In my opinion the best online commodity platform isMulti Management & Future Solutions . I prefer using their services for executing profitable trades.