8 Best Futures Trading Platforms in 2023 [Ranked & Reviewed]

Futures trading is the practice of owning or taking the other side of a financial future contract, such as those that offer the right to buy or sell goods at a predetermined price on a given date in the future.

Futures trading has become very popular in recent years, especially among institutional traders and large companies, who often use futures to hedge their risk exposure by locking in prices for specific goods or services.
 

 

Futures Trading Platforms – Introduction

Futures trading platforms were designed for two primary purposes:

1. to provide an environment where buyers and sellers can interact with one another to agree on the terms of their transaction, and

2. to provide a visible record of these transactions that can be used by market participants as evidence when they make claims against one another.

In order to ensure that these objectives are met, futures exchanges must take several steps: they must create a governing body (a committee); they must create rules (a code of conduct); and they must monitor compliance with these rules (an auditing process).

What Are Futures Trading Platforms?

Futures trading is a form of financial speculation that involves the purchase and sale of futures contracts at a future date. Futures are traded on regulated exchanges, with potential buyers and sellers represented by the exchange’s clearinghouse.

In order to trade futures, you need access to a futures trading platform. The platform allows you to create an account with a brokerage firm and establish your own positions in a variety of contracts, including stocks, bonds and currencies.

There are three main types of platforms:

Off-exchange platforms: These platforms allow users to open accounts without using their own money or credit cards. Instead, they use funds provided by their brokerage firms via wire transfers or ACH transfers.

On-exchange platforms: These platforms allow users to open accounts using their own money or credit cards. They also typically offer better customer support than off-exchange platforms because they work closely with the brokerages themselves.

Direct participation programs (DPs): These are online tools that provide users with access to an online trading platform where they can track their positions in real time as well as execute trades directly from their browsers

Best Futures Trading Platforms

Fortunes are made in the markets. A lot of people make their fortunes by trading futures or foreign exchange (FX). However, there are also many traders who have lost money by not knowing how to trade properly.

Below we have compiled a list of the best futures trading platforms and brokers:

Metatrader 4

The most popular platform for forex traders, Metatrader 4 offers all the necessary tools to analyse historical data, as well as the ability to trade in all major currency pairs (EUR/USD, USD/CHF etc.). It is available on desktop and mobile devices.

MetaTrader 5

MetaTrader 5 offers many advanced options including multiple time frames and different types of orders like market order, limit order and stop loss orders. The MT5 platform is available on desktop computers as well as smartphones and tablets.

Advantages of MetaTrader 4 & 5: Easy to use interface; Lots of analytical tools; Available on both desktop computers and smartphones; No need to download any software or app; Offers support

1. Optimus Futures

Optimus Futures is a fictional breed of robots created by the Transformers franchise. Optimus Futures are descendants of the original Autobots, who were transported to the future and evolved into sentient beings.

They are often seen as members of the “Generation 1” branch of the Autobot army, and are sometimes considered as part of an offshoot faction that separated from them.

Optimus Prime is an Autobot leader in the Transformers series. He has been known as a wise and benevolent leader since his original conception in 1984, but has been increasingly unpopular since his defeat at the hands of Megatron at the beginning of season two.

In 2007 he was ranked 47th on IGN’s list of Top 100 Greatest Characters.

Optimus Prime was created by Japanese toy manufacturer Takara as part of their first Transformers line. His English name comes from General Optimus Prime, who turns into an Old West-style robot when defeated in battle (a naming choice shared with other Transformers such as Bumblebee).

A re-release of the General toy by Takara Tomy (under license from Hasbro) in 1980 altered his color scheme

Features

Optimus Futures is an awesome game that allows you to play with your friends. In this game, you will have to control a robot that can transform into different creatures. The main goal of this game is to survive as long as possible and become the winner in the global leaderboards.

The controls of this game are very simple and easy to understand. You just need to press on the right or left button in order to move forward or backward, respectively. You can also use the joystick at the bottom of your screen if you prefer playing with a mouse instead of using your fingers on a touchscreen device.

In addition, there are many other features that make this game interesting and enjoyable for all gamers out there who want to test their skill and find out how good they really are at playing games like this one. These include:

-Music tracks in which each player can choose from his favorite songs from all over the world;

-A very high quality graphics with realistic movements of your character;

-Different environments such as cities, caves, forests and so on;

-Power-ups such as shields, bombs etc.;

Pros

Pros:

1. The best gaming experience
2. Incredible battery life
3. Amazing design and build quality

Cons:

1. Pricey

2. Interactive Brokers

Interactive Brokers is a discount broker that has been in business since 1987, and it is headquartered in New Jersey.

It offers traders access to a host of trading platforms and tools, including Interactive Brokers Edge, a popular charting platform; and TradeStation, which offers more advanced charting as well as market data.

Interactive Brokers also has its own research department that provides technical analysis on stocks and commodities. Its research department is especially strong; it’s one of the fastest-growing research firms in the industry.

Interactive Brokers’ customer service is top-notch, too. In our experience, brokers who offer great customer service tend to have happy clients who stick around for years — and they’re less likely to leave if things get tough (which they can).

The main drawback of Interactive Brokers is that it’s not as widely available as other discount brokers like E*Trade or Scottrade. The company does have some direct access programs for high-net-worth investors looking for an alternative to traditional Wall Street brokerages like Merrill Lynch and Morgan Stanley.

But even if you don’t qualify for one of those programs, you can still get access through Interactive Brokers’ retail platform at no charge.*

Features

1. Great for day traders
2. Super low fees
3. Lots of trading platforms and instruments
4. Leverage up to 100x
5. Great customer support (as you would expect from a broker)

Pros

1. Interact with the world’s largest banks, futures, and Forex traders

Interactive Brokers is the world’s leading online broker, with market share of more than 70% in electronic foreign exchange (Forex) trading and nearly 50% in other markets. Interactive Brokers has more than 25 years of experience providing financial services to institutions and individuals around the globe through its suite of global stock, options, futures, foreign exchange and other products.

2. Access to global markets

With IB’s 24/5 edition platform you can trade stocks, ETFs and options on any time basis — including weekends. And this feature is available to clients worldwide! You can set up custom watchlists that automatically update when a new trade is executed or updated against them closes.

3. Use your favorite charting software to analyze trades

IB supports all popular charting software such as MetaTrader 4 (MT4) charts; TradeStation charts; Tradestation charts; Interactive Brokers (IB) Charting Software; Goldman Sachs C# API

3. Discount Trading

Discount trading refers to when a broker offers a discount on the commission price for an order executed in a manner that is not normally allowed.

Discount trading is not always illegal, but it can be. For example, some brokers offer a special rate of commission for certain trades that are otherwise prohibited by their terms and conditions.

These trades are called “discounted orders” and they are sometimes referred to as “specialized orders” or “competing orders”.

Discounting may be considered legal if it is offered as a promotional benefit to customers who have saved money on their trading account. The broker must disclose this information clearly in its online marketing materials or literature that is provided to prospective clients.

This disclosure should also explain how much you will save compared to the normal rate of commission that applies to your trades.

However, if you find out later that your broker has been offering one-time discounts on commissions without telling you about it, then this could be considered illegal discounting (also known as kickbacks).

In this case, the discount might be considered an illegal rebate scheme where brokers are giving more than 10% off their standard rates for certain types of trades.

Features

Discount Trading Features

1.No transaction fee

2.Minimum trade size of 0.01 BTC or higher

3.Instant buy/sell with 0 confirmations (3 minutes)

4.24/7 customer support

Pros

Discount Trading is a trading method that involves trading currencies, stocks and futures. This method is also known as “Spot Trading” or “Direct Trading”.

Discount Trading Pros:

1. You can trade Forex and other currencies in the same account.
2. You don’t need to open new accounts for each currency you want to trade.
3. It is possible to trade Forex with one broker, which is beneficial when you want to make some money without spending too much time on research (like when you are starting out).
4. You can track your trades from your mobile phone or tablet, which is more convenient than opening an account at separate brokers for each currency pair that you want to trade (some brokers require separate accounts for different pairs).
5. Usually, discount brokers offer free demo accounts that allow you access to a limited amount of trades before making any real money transactions (this option may not be available if you have already opened an account with another broker who doesn’t offer free demo trading).

4. Tradovate

Tradovate is a cryptocurrency exchange that offers a wide variety of trading pairs, low fees and fast transactions. The platform is designed to provide a high level of security, anonymity and transparency.

Tradovate was founded by Alexandre Fortier and Arthur Vayloyan in Montreal, Canada in 2015. Tradovate aims to provide a convenient, secure and transparent way for people to trade cryptocurrency.

The company has raised over $2 million from investors including Tim Draper, Elon Musk, Jack Dorsey and others.

Tradovate’s main selling point is its low transaction fees. Traders can save up to 30% on their trading fees compared to other exchanges like Coinbase or Kraken.

Tradovate also offers high liquidity because it is based out of Canada so most major coins are available for trading on the exchange 24/7/365 days per year.

Features

1.Tradovate  Features

Tradovate  is a feature-rich business management software that provides complete end-to-end management, CRM, project management and reporting solution for small to medium businesses.

The product has many features but the key features are as follows:

*Multi-company and multi-currency support

*Complete project management solution with all the tools needed to manage projects and track progress.

*Detailed financial report generation with advanced analysis tools.

*Built-in customer relationship management (CRM) solution that allows you to track customer details, data, leads & relationships.

*Supports multiple languages, including English, Chinese (Simplified), French (Canada), German (Germany), Italian, Japanese, Russian and Spanish

Pros

Tradovate  Pros

-Tradovate is an online platform that helps you to find the best freelancers based on your requirements.

-Tradovate has a huge database of freelancers who have worked on various projects.

-You can get access to the entire freelance community through Tradovate.

-The payment gateway provided by Tradovate is easy to use and secure.

5. Tastyworks

Tastyworks is a food delivery service that delivers healthy meals to your door. They have a wide selection of meals, from simple salads to more complex meals such as their chicken parmesan and shrimp scampi.

Tastyworks also offers a subscription service which allows you to order your favorite meals in advance and even mix and match ingredients on the fly! This is a great way to save time and money while still getting great tasting food.

Tastyworks is one of the most popular meal delivery services out there, so it’s no surprise that they’re doing so well. Their food is always fresh and high quality, so you can always trust that your meal will be delivered by people who know what they’re doing.

The service is super simple: just select your meal, add any optional ingredients or substitutions, then select how many servings per person you want. Tastyworks will take care of everything else for you!

Features

Tastyworks Features

The Tastyworks Features are:

– Full control over the design: You can add and edit your own logos, colors, fonts and more.

– No monthly fees: There are no fees or subscriptions required to use Tastyworks. You only pay when you sell a product using our system.

– Unlimited products: You can create as many products as you need within our easy to use software. Each product will have its own page on our site where you can sell it.

– Free shipping included: We offer free shipping on all orders over $50 (and discounted rates for lower amounts) so that you can start selling today!

Pros

Tastyworks Pros

1.The best way to get leads, appointments and sales

2.It is a very simple and easy to use tool which helps you to get targeted leads, appointments and sales right away.

3.The software is designed in such a way that it will gather all information about your business and customers with the help of its powerful database.

4.It has an automatic email marketing tool which helps you to send out emails on daily basis to your potential customers or leads so that they can register themselves into your mailing list and receive more information from you via email as well

6. Ninjatrader

NinjaTrader, the first trading platform to offer live streaming and mobile apps, has announced a number of changes to its platform and educational content.

The new features include video tutorials, live trading videos, an updated user interface and an improved search function.

Ninjatrader will now feature more than 1,000 videos on topics such as technical analysis, options trading and fundamental analysis.

This year alone, NinjaTrader will have more than 1,500 new educational videos published with a focus on providing traders with advanced strategies for stock market trading.

The update also includes a new user interface that makes it easier for traders to access the tools they need in real time.

In addition to the standard charting tools like candlestick charts and moving averages indicators, traders can now find all their favourite indicators within one click using the search function.

Features

NinjaTrader is a full-featured trading platform for professional traders, with an easy to use interface.

Ninjatrader Features:

– Multiple trading models

– Support for multiple time frames

– Support for multiple marketplaces

– Support for multiple currencies

– Support for real time data feeds (M1, M5 and M10)

Pros

1. Ninjatrader is a free trading software that has to be downloaded from the official website.

2. You can create trading accounts with just one click and get started with your trading right away.

3. The platform allows you to trade on all major exchanges such as Bitstamp, Kraken, Coinbase and Gemini as well as over 130 other exchanges worldwide.

4. It also supports margin trading, which offers you the opportunity to borrow funds from banks or other financial institutions for higher leverage ratios that increase your return on investment (ROI).

5. The platform features advanced charting tools such as trend lines and moving averages that help you make better decisions about when to enter or exit trades based on market conditions at any given time in order to maximize your potential profits over time.

7. TD Ameritrade

TD Ameritrade is a discount brokerage firm, and the largest in the United States. It has over 1 million clients and more than $1 trillion in assets under management.

TD Ameritrade was founded in 1971 by Timothy J. Clary, who had previously founded a financial newsletter called The Money Tree, which eventually became the Money Tree Investment Letter.

After leaving that company, he formed TD Ameritrade with his wife and brother-in-law, who owned a Chicago-based brokerage company called Tradex International Inc., which also offered stock trading services through a subsidiary known as Tradex Securities Corp.

Clary named the new firm after its address: Two Dam Street in Boston’s North End district. The company’s first office was in an old building on Pearl Street that had been renovated into an apartment complex called The Tandem.

The firm has since moved to offices on the same street, two blocks away from its original location.

In 1989, TD Ameritrade began offering online trading through its website and by 1990 it had 1 million accounts. In 2000 it acquired Redline Financial Group, which operated online brokerage accounts for customers of Fidelity Investments

Features

TD Ameritrade’s online trading platform is one of the most popular in the world, with over 10 million users. The company offers a wide range of features, including:

* Mobile trading – iPhone and Android apps allow you to trade from your phone anywhere, anytime.

* Professional trading tools – TD Ameritrade has its own dedicated research department that provides stock recommendations and other investment advice.

* 24/7 customer support – The site offers live chat, email support, and phone support for those who need it.

* Credit card processing – You can use a credit card to buy stocks or exchange-traded funds (ETFs). The fee for this service is $4 per trade (the fee is waived if you choose paper checks).

Pros

TD Ameritrade Pros

1. AMERITRADE: The most popular trading platform for individual traders. It’s easy to get started with the help of their training tools and educational videos.

2. TRADING: Trade stocks, options, futures, commodities, forex and ETFs across multiple exchanges using real-time data feeds.

3. CUSTOMER SERVICE: TD Ameritrade offers 24/7 customer service representatives available via phone, email or chat to help you with your trading questions and needs.

4. BENEFITS: Free trades on new accounts, no-cost IRA rollovers, commission-free trades for eligible college students and more!

What Are Futures Trading Platforms?

Futures trading platforms are the place where you can go to trade futures contracts. Futures are financial derivatives that are standardized contracts that can be traded on an exchange.

These contracts have a value and a expiration date, and they can be bought or sold at any time before their expiration date.

Futures trading is a way to speculate on the direction of an asset or index price, or to hedge against market risk.

These tools provide investors with leverage, which means that your investment size is not fixed, but rather proportional to the amount of cash you deposit into the account.

This allows you to take advantage of small price movements in the underlying asset without taking too much risk.

Future contracts are similar to options because they provide traders with the right to buy or sell at a specified date in the future — but they differ in that they’re traded on exchanges instead of over-the-counter markets like options are.

Futures trading platforms allow traders to create their own trades using different strategies and strategies based on different market conditions.

Best Futures Trading Platform – Further Thoughts

Selecting the best futures trading platform can be a daunting task for futures traders, whether they are seasoned experts or novice futures traders.

With multiple online futures brokers offering varying degrees of trading tools, asset classes, and commission structures, the choice can become complicated.

Futures trading involves trading contracts for various asset classes like commodities, bonds, and even cryptocurrency futures. The key to successful futures trading lies in the capability of the futures traders to predict futures prices accurately.

To accomplish this, they need a comprehensive trading platform with powerful futures trading tools that can help them understand the futures markets and manage their risk effectively.

While most futures brokers charge per contract, many futures brokers have started offering commission free trading. This is particularly beneficial for high volume traders who trade futures frequently.

However, traders should note that commission free trading does not always mean that there are no fees involved. Many brokers may still charge exchange and regulatory fees.

It’s essential to consider all the costs, including contract fees and margin rates, when selecting the best futures trading platform.

The best futures brokers also provide access to multiple markets, allowing traders to trade commodity futures, micro futures contracts, and even e-mini fx futures.

For instance, some top brokers allow traders to trade oil futures and offer futures trading in other asset classes, providing an opportunity for diversification.

Additionally, serious futures traders and advanced traders may need more sophisticated features, like risk management tools, to help traders manage risk and devise effective trading strategies.

The trading technology employed by the platform can make a significant difference. An intuitive and user-friendly trading platform can help traders navigate the futures markets more effectively.

Futures trading brokers also need to be regulated by authorities like the National Futures Association to ensure a secure and fair trading environment. Many online brokers offer futures trading, but not all of them may be regulated or offer the same level of customer support.

For beginners looking to start trading futures, micro futures can be an excellent place to start. These smaller contract sizes allow for lower margin rates, making them more accessible to novice futures traders.

Finally, while commonly brokers will allow traders to trade futures in multiple asset classes, some stand out by providing futures options. This gives futures traders the ability to hedge their positions and manage risk better.

In conclusion, the best futures trading platform for any futures trader will depend on their specific needs and trading goals.

Whether they are active traders looking to day trade futures, or long-term futures investors looking to hedge, the right platform will provide the necessary tools, competitive fees, and a wide range of asset classes to suit their trading needs.

Trading Futures

The world of futures trading is a complex, dynamic field that draws many keen market participants known as futures traders.

These individuals, often with years of experience and intricate knowledge of futures markets, maneuver through the ebbs and flows of the market. They rely heavily on futures trading brokers who provide the necessary infrastructure to make futures trades possible.

Selecting the right futures trading brokers is crucial for these futures traders. These brokers offer an array of services and resources, including vital trading technology that helps monitor and analyze the market.

Brokers typically offer various educational resources and customer support to guide their clients through the nuances of futures trading.

One key consideration for any futures trader when choosing a broker is the structure and amount of futures trading commissions. These are typically charged on a per contract basis, making it vital for traders to understand the implications of these fees on their trading activity.

An important aspect to consider here is the margin rates set by the broker, which dictate the amount of capital a trader must hold in their account to open a futures position.

Online brokers have made futures trading more accessible to a broader audience. The convenience and flexibility offered by an online broker have democratized access to futures markets.

Day trading futures, once the purview of seasoned professionals, is now an achievable strategy for a much larger demographic of traders.

However, as with all investment strategies, futures trading carries its risks, making it essential for futures traders to remain aware and informed. Strategies like those used by commodity producers to hedge against price volatility serve as critical risk management tools.

Trading in futures options is another avenue for futures traders to explore. Futures options give the holder the right, but not the obligation, to buy or sell a futures contract at a predetermined price before a certain date.

This provides additional flexibility and strategic options for futures traders, further expanding their opportunities within the futures markets.

The success of a futures trader hinges on a combination of factors, including their chosen broker, the trading technology they utilize, their understanding of margin rates and commissions, and their ability to navigate the futures markets.

And, of course, it’s always essential to remember that while one broker may be the ideal choice for some futures traders, other brokers may better suit others’ needs and trading strategies. After all, in the diverse and dynamic world of futures trading, one size certainly does not fit all.

Futures Trading Platforms – Wrapping Up

The futures trading platform is the most important component of a successful trading system. It is where you will place all your trade orders and execute your trades.

The futures trading platforms vary in features, design and complexity. However, there are some basic things that all platforms have in common. They each work with different types of contracts and allow for various types of orders to be placed.

Futures trading platforms must be able to handle multiple types of orders and provide seamless execution of trades. They also need to be user-friendly, allowing traders to easily access the platform from anywhere in the world with internet access.

The best futures trading platforms offer a wide range of tools that help traders make better decisions when it comes to managing their positions or portfolio management strategies.