Futures For You by Carley Garner
WHAT SHOULD WE BE LOOKING FOR?
The new year is the time in which many traders rethink their strategy and circumstances. What are some pointers on what we should be looking for in a futures and options broker?
First, let me disclose that I have been a registered commodity broker for what will be six years in March 2010, so there is likely some bias to my opinion. Nonetheless, I have witnessed all aspects of the trading and brokerage business and believe I have some helpful comments to make in regards to this topic.
Despite the fact that I make my living through commission, I acknowledge that transaction costs are baggage to trading results. All else being equal, the more that you pay in commission the less profit, or the more loss you will see in your bottom line. That said, for many traders, all else is not equal. I can sum up my overall premise in one rejoinder: “If you think that paying commission is expensive, try getting what you pay for.”