Futures trading is one of those disciplines that’s nearly impossible to do competitively by hand. If you decide on manually placing orders, you’ll quickly learn that bots are doing it faster and better. Anyone who ends up trading for long will be looking for a futures trading bot to make work more comfortable and more accurate.
Let’s take a quick look at five of the leading contenders in this space:
- Targets Trading Pro
- Interactive Brokers
- TD Ameritrade
- Dorman Trading
Targets Trading Pro (TTP)
The leader in trading bots is Targets Trading Pro, which is called TTP by its vast customer base. TTP is a robust suite of trading solutions that empowers its users to make trades in the fast-moving futures market.
TTP has all of the trading tools necessary for day traders to trade futures. Active traders need a robust set of tools to earn significant enough profits to make a living.
TTP tops the charts for features because the entire platform has automation at its core. That includes algorithms that help identify and execute profitable trades. The ecosystem has been around for over a decade, and traders can even extend their functionality with plugins. There are few limits for traders who use TTP, which is one of the main reasons it continues to attract so much attention.
TTP is also easy to operate, which is always a bonus for non-technical people. Traders can use the system for manual or fully automated trading. An indicator allows for an ATM strategy that will still place trades with the best targets and stops in place. If the trend changes, the bot automatically exits and reverses course, saving you money.
The bot is also available for any time frame and is usable with all instruments that contain price data and deltas. The system integrates ideally with Sierra Chart and Ninja Trader.
Automated trading is excellent because it eliminates the emotional aspect of trading. That’s the single most significant factor that holds back the average person from consistently making profitable trades. With the rules in place, the bot will execute the trades without anyone’s emotional obstacles getting in the way.
The speed of execution is also light years ahead of human, manual trading. It’s that split second that can be the difference between earning or losing money. Using TTP makes the traders money because it’s fast, and it follows the automation plan without hesitation. Those who have been doing work manually or who are coming from a different platform will certainly appreciate the advantages offered.
Tradestation is a trading platform that offers futures traders 80 different products. The robust platform provides many features, including real-time trading of futures contracts.
Tradestation is an award-winning desktop application with a bunch of features. The system includes advanced tools that allow people not only to automate their trading strategies, but they can test and optimize them, as well. The suite consists of fully customizable charts, reliable and fast trade execution, advanced order management, and dynamic market scanning tools. Even when you have few ideas to trade upon, this system can help find new opportunities.
Tradestation is a decent tool for active futures traders who want to get more from their trades.
Interactive Brokers has been operating since its founding in 1977 by Thomas Peterffy. It’s a platform that’s known for using a universal portal that empowers customers to trade the full range of financial products, including ETFs, bonds, foreign exchange currencies, and futures.
The site has a broad scope of operation and allows for trading in over 120 financial markets. It is useful primarily for futures traders who are active and for trade high volume.
The platform has free market data, smooth order execution, zero dollar commissions on select trades, robust trade execution, and competitive day trading margins. All of these features make the platform right for active and professional traders who need to consistently churn out substantial returns.
TD Ameritrade remains one of the leading online brokers. As a futures broker, its platform has all of the tools that professional and amateur traders expect.
Opening a trade account with TD Ameritrade is secure and can happen online in minutes. Decide on your margin requirements, and put in the appropriate information to begin.
TD Ameritrade has over 60 futures products to choose from for clients. The integrated platform also has ETFs, mutual funds, stock trading, and much more. It’s a decent service even for low-volume traders, unlike some of the alternatives which are more tailored toward professional use.
TD Ameritrade is a suitable platform for people who want to use as many features as possible across a range of retail financial products.
Dorman provides access to a suite of leading platforms that favor high-frequency traders, including individuals, institutions, and professionals.
Dorman Direct has a client-side application that allows users to create charts and to trade their custom spreads. The suite also contains all the order templates needed, trade analysis, heat maps, and much more.
Market on Close (MOC) orders are also a benefit as well as the particular market mode countdown metric. That shows the number of seconds left before making the next trade.
For active traders who need much control over their platforms, this one has many benefits.
Choose the Futures Trading Platform That Makes Sense
Ultimately, it will remain up to each trader to decide on the account that provides the most bang for the buck. Whether it’s low commissions or additional software features that matter, there’s something available for everyone. For more information about the advantages offered by Targets Trading Pro, browse our resources or contact us today.