Best Broker For Futures Trading Canada – I bring broad financial expertise as one of the first team members. Personally, I have tested almost all 100+ brokers listed on our site, opened real money accounts, made trades and evaluated customer services, giving a first-hand assessment. My professional experience includes positions in the banking sector and a degree from the Central European University, where I teach finance. My passion lies in in-depth research of the financial industry, long-term investment management.
Benes is a former brokerage analyst in With a master’s degree in economics and international finance, he focused on stocks, crypto and new financial services. He has also gained many years of experience in the brokerage industry, specializing in stock exchanges and CFD/Forex brokers, crypto providers and robo-advisors.
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Optimus Futures is a US introductory broker. Optimus Futures’ futures trading fees are among the lowest among competitors and there are also no inactivity fees. The desktop platform and research tools are excellent and meet the needs of experienced traders. Finally, customer service provides helpful and quick responses. On the other hand, Optimus Futures withdrawal fees are high. There is no mobile trading platform for Optimus Flow, while the desktop platform is only available for Windows. The product portfolio includes only futures contracts and options on futures contracts. He gave Optimus Futures a rating of 3.9/5 based on an analysis of 500+ criteria and testing by opening a live account.
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Optimus Futures has low trading fees and average non-trading fees. On the plus side, there is no inactivity fee, but the withdrawal fee is high.
Trading fees are low if you trade frequently, but above average for low trading cycles.
Optimus Flow has three account license plans to choose from. Trading fees are the same for all licenses.
We compared commissions on Optimus Futures with two similar brokers we selected, NinjaTrader and AMP Global. These competitors are selected based on objective factors such as products offered, customer profile, commission structure, etc. See a more detailed comparison of Optimus Futures alternatives.
Optimus Futures Review 2023
The fee will not exceed $0.50 per side even if you only trade a small volume, but clients who meet daily volume thresholds can earn even lower fees, with discounted fees down to $0.10 per trade.
Optimus Futures also offers options on futures contracts. Commissions for options are the same as for simple futures contracts.
Optimus Futures offers Bitcoin futures trading, using the same commission structure as other futures products. The exchange fee for Bitcoin futures is $5.00 per trade per contract on CME and $0.55 per trade per contract on CFE.
There are no inactivity fees and deposits are also free. On the other hand, bank withdrawal has a high fee of $30 per transaction.
Introduction To Futures Trading
Depending on which platform you use, you may have to pay an account fee. For example, the Optimus Flow platform offers three different license types that have different trading tools and order prices.
We rated Optimus Futures’ commissions as low, average or high based on a comparison to those charged by all brokers we reviewed.
Optimus Futures account opening is completely digital and the minimum deposit is not too high. However, account verification can take a long time and the whole process is a bit complicated.
In this review, we tested the Optimus Futures account through AMP Futures Commission Trader (FCM). AMP accepts customers from all over the world.
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Optimus Flow, the Optimus Futures trading platform, has three account licensing plans, “DaiTrader”, “Professional” or “All-in-One”, which differ in price and functionality.
Opening an Optimus Futures account through AMP is completely digital. However, approving orders is quite slow; It took us 5 working days.
Also, the process of opening an account is complicated, as many steps are required to open an account with Optimus Futures.
The first step is to choose an FCM (futures trader), a brokerage house that will clear your futures trades. We chose AMP because it is the most promoted FCM on Optimus Futures and has the lowest minimum deposit requirement. Alternatively, you can contact the company’s experts through customer service to help you choose the most suitable FCM. After choosing FCM, you need to go through their account application.
Futures Trading Success Rates
Optimus Futures offers pretty fast withdrawals, but the positives end there, as transfer withdrawals are expensive and you can’t use credit/debit cards to deposit or withdraw.
If you have a personal bank account in a currency other than the US dollar, you will be charged a conversion fee.
A convenient way to save on currency exchange fees is to open a multi-currency bank account with a digital bank. They usually offer multi-currency bank accounts with great exchange rates, as well as free or low-cost international bank transfers. Opening an account only takes a few minutes on the phone.
Due to US regulations, US citizens cannot use credit cards to fund their brokerage accounts. They can only use debit cards, when available.
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Bank transfer may take several business days. You can deposit money only from an account in your name.
Optimus Futures bank withdrawal fee is $30. As with deposits, US customers can also use ACH and checks. ACH withdrawals are free.
How long does it take to withdraw money from Optimus Futures? We checked the network pull and it took 3 business days.
At the time of our review, Optimus Futures only offered a desktop version of the Optimus Flow platform. However, please note that Optimus Futures has a wide selection (40+) of futures trading platforms with mobile and web/cloud versions.
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The Optimus Futures desktop platform is customizable and has many advanced features to help with futures trading, but it may seem complicated at first and also lacks a two-step login.
In this review, we tested the Optimus Flow desktop trading platform, as it is one of Optimus Futures’ own trading platforms and has no monthly fee. However, if you feel it doesn’t suit your needs, you can choose from more than 40 other trading platforms, including TradeStation platforms. However, many of these platforms charge a monthly fee.
The Optimus Flow desktop trading platform may be too complex for beginners, but for advanced users it is a well-designed system. Day traders who take their trades from charts will especially like Optimus Flow.
The desktop platform is highly customizable and there are tons of apps and plugins to customize your workspace.
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Optimus Futures provides a one-step login. Two-step verification will be more secure and adding this feature should be high on every company’s list of security changes.
When you want to use your account for the first time, you need to log in with your username and password and also set up your login credentials. You can set up certificates by clicking on ‘Connections’ and selecting ‘Set up’.
Every time you log in, you have to select your data provider and choose whether you want to access your demo account or your real accounts. Once activated – marked in green as “connected” – you will be able to see your positions and account balance and can start trading.
To help you decide if you have found the right product, there is a “Symbol Information” panel that gives you a detailed overview of the product.
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The month forward for all futures and options products is at the top of the search results list. You can also search manually by browsing through the different categories, although this requires prior knowledge of the product offerings on the stock exchange and the symbols of the various products.
In Optimus Futures (using Optimus Flow), you can only trade futures contracts and options on futures contracts. Other popular asset classes such as real stocks or ETFs are not available.
Optimus Flow also provides access to several options markets. You can only trade options on futures contracts in these markets.
This selection is excellent compared to competing brokers. Both NinjaTrader and AMP Global offer smaller options markets to trade.
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The CME, CBOT, NIMEX and COMEX stock exchanges are part of the CME group. Eurek is part of the Eurek Group and is owned by Deutsche Borse AG.
The UK’s Financial Conduct Authority FCA has banned the sale of crypto derivatives to retail consumers in the UK from 6 January 2021.
Optimus Flow has excellent research tools and special features for technical trading. The charts are advanced yet easy to use and come with many indicators.
However, it does have a podcast and video section, as well as some articles on general trading ideas, definitions and best practices.
Top Technical Analysis Tools: Software For Trading
Optimus Futures customer service is exceptionally good – both fast and helpful – across multiple platforms and includes unique features such as a support forum.
Optimus Futures has a quick live chat. A big advantage is that the first questions and answers are automatic and direct you to the relevant person who will answer your real questions. We were satisfied with the quality of the answers received.
Finally, there is an active support forum where you can interact with other users and the Optimus Futures support team.
Optimus Futures has excellent educational tools. There is a well-built video library on the YouTube channel, and you can also use a demo account.
Minimum Capital Required To Start Day Trading Futures
As Optimus Futures is a presenting broker, it offers multiple trading platforms. Instead of embedding hundreds of training videos on the site, Optimus Futures has created a well-structured and organized one
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