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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: elepet who wrote (255)	11/19/2000 10:32:21 AM
From: Patrick Slevin	Read Replies (1) of 12411

I mean that I use LeoWeb, an internet based order system provided by Arc Futures. lfgfutures.com arcfutures.com The account is cleared through Refco. I also have other accounts, such as EDF Man, but with Man it's a phone order. With the Arc Futures account I can use the Leo screen to enter orders or use the phone to call the desk, same fee. I find the service on both accounts to be fine. Arc and Man pick up the phone quickly. The trade is handled quickly. With Arc you can choose from different Entry Screens, I have heard that the PFG Best screen is superior to LeoWeb. I may change over eventually myself. I suggested IB because of the cost, $6 (plus fees) a round turn. Trading mini contracts one has to accept that the fee is significant if scalping becomes a style that you prefer to use. Taking the E-Mini as an example, the commission with the Leo account ($20 plus fees) is almost 1/2 a point so you have to factor that in. If you are a Buy and Hold trader looking for 20 or 30 points or more then it is less of an issue. The caveat with IB appears to be that if you must resort to the desk for a trade the commission balloons to as much as $66 bucks per round turn plus Exchange costs. I do not find that I have to call in orders to Arc Futures very much. Perhaps one trade in a hundred or more. But it is something to consider if you experience internet outages very much. IB has a change coming out on December 1. This changes their existing screen to a Java-based screen ported off Linux. I have not committed any funds to IB as yet because I wish to wait until I see the new Entry Screen. The existing one is okay but it has a few technical glitches which I cannot live with.

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