I am looking for a forex broker that has a good range of commodities (soft, metals, energies etc), that can be traded on standard lots 1, mini 0.1 and micro lots 0.01 on the one account.
I have been looking and it appears the majority of brokers restrict micros to a micro account and it is not possible to trade all three sizes on the one account, but surely there is?
I know Axitrader, vantage fx, pepperstone allow micro trading but don’t have many commodities available, just metals and wti.
The reason I am interested in this is because I would like to consolidate some accounts into one or two accounts/brokers instead of having many accounts spread around all over the place.
DO NOT delete this post PLEASE i.e. the OP asked a question and I’m answering it is all (and besides: I’ve been “behaving myself” around these parts for a GOOD while now).
if you think trading commodities under D1 or W1 time frame forget about CFDs …
You must setup real Futures Exchange account, cfd have big spread and You don’t have proper volume data ( and LOP data) don’t mention about L2 data.
hope it helps
Turns out: I ended up not having to leave the office until Tuesday so I’m here!!!
lordvader666 makes some FAIR points. I wouldn’t advise anybody to trade ANYTHING on timeframes shorter than the Daily timeframe anyway (MAYBE the 4-hour timeframe but that’s about it). But it depends on your trading system or trading methodology as to whether or not you need volume and L2 data. If you’re a long-term trend following trader: this information is of no consequence to you. If you’re a “scalper”: obviously you need lower spreads but also bear in mind that you’ll always be trading with variable spreads so I’m not entirely sure that this is pertinent anyway i.e. you never know what the spread is going to be at any given time anyway. Just because a broker offers a low target spread does not mean that’s what the spread is going to be and remain. And then there is a minimum capital requirement. With US regulated brokers: the minimum capital requirement is $5 000 (for a “real” Futures account) and it doesn’t stop there i.e. you’re then subject to minimum maintenance margin requirements (and overnight maintenance margin requirements). And I can tell you that even WITH the $5 000 minimum you’re severely limited to the number of instruments that you can trade given the fact that you’ll get little (to no) leverage and the tick sizes and tick values on certain commodities may make it impossible for you to manage risk. I guess all I’m saying is that there are VAST differences between trading CFDs on Futures and “real” Futures. You’ll note one thing though and that is that I purposely left out the word “real” when I was talking about volume. One thing I can assure you of is that Deltastock’s volume comes from the exchange and it’s not “simulated” volume (as is the case with FOREX).
So: I hope THIS helps too.
I’ll tell you this though: if you’re considering trading commodities then you’re “thinking right”. My personal recommendation is to trade the major indices (and maybe SOME commodities). That (to me) is the only way to be making REAL money in this business (but this has been a “too hot to handle” topic here so no point in my “banging on” here about this again).