Best Futures Brokers

The world of futures trading can be thrilling – if you have the right broker. But choosing a futures broker isn’t like picking a favorite snack at the grocery store. You need the right tools, low fees, top-notch service, and a platform that doesn’t frustrate you every time you place a trade. Whether you’re looking to hedge risks, speculate on market movements or just try something beyond stocks, finding the best futures broker is key to your success.

After thorough analysis and testing various brokers, we’ve rounded up our picks for the best futures brokers: Interactive Brokers and NinjaTrader stand out for their powerful tools, competitive pricing, and user experience that can handle anything from beginners’ baby steps to pros’ rapid trading blitzes. 

Quick Look at the Best Futures Brokers:

• Best for Advanced Trading Tools: NinjaTrader
• Best for Overall Cost Efficiency: Interactive Brokers
• Best for User-Friendly Platform: AvaTrade
• Best for Active Traders: EdgeClear
• Best for Full-Service Features: Charles Schwab
• Best for Versatile Trading Options: TradeStation
• Best for Low-Cost Trading: Generic Trade
• Best for Innovative Features: Tastytrade
• Best for Global Trading: Tickmill
• Best for Beginners and Support: Optimus Futures

10 Best Futures Trading Brokers

Choosing the right futures broker can make all the difference in your trading experience. Here’s our detailed rundown of the 10 best futures brokers.

1. Best for Advanced Trading Tools: NinjaTrader

NinjaTrader stands out for its powerful trading tools and comprehensive charts, making it a favorite among serious futures traders. With NinjaTrader, you get direct access to the futures market with intuitive charting capabilities, automated trading features, and thousands of third-party add-ons to customize your trading experience. The platform also offers deep data analysis tools, giving you more insights to optimize your strategy.

NinjaTrader’s fees are highly competitive. If you’re an active trader, you can save a lot by using their commission-free pricing model for lifetime license users, and there are no added charges for using their powerful NinjaTrader Desktop. This makes it a great fit for those who want high-end tools without breaking the bank.

Why We Picked It: NinjaTrader’s Market Replay feature lets traders practice real-time trading with historical data. It’s like a futures trading time machine, allowing you to sharpen your skills without putting your real money on the line.

2. Best for Overall Cost Efficiency: Interactive Brokers

Interactive Brokers is a heavyweight champion when it comes to futures trading. This platform is ideal for traders looking for rock-bottom costs and a comprehensive trading ecosystem. Their commissions start at $0.85 per contract, and IBKR Lite offers commission-free trading on select products. Their deep liquidity ensures you get tight spreads, which means better pricing for your trades.

Interactive Brokers also excels in providing a wide range of futures markets. Traders have access to everything from commodities to cryptocurrencies, offering immense diversity. Their Trader Workstation platform is sophisticated and supports technical analysis, news feeds and research from reputable sources.

Why We Picked It: Interactive Brokers’ IB SmartRouting technology ensures that your trades are always executed at the best possible price, increasing your bottom line through efficiency.

3. Best for User-Friendly Platform: AvaTrade

AvaTrade's incredibly user-friendly interface makes futures trading accessible to beginners. The platform offers straightforward navigation, intuitive tools, and educational resources to help users understand the futures markets. AvaTrade also provides negative balance protection, ensuring that traders can't lose more than what they have invested.

AvaTrade offers competitive spreads and multiple platforms, like MetaTrader 4/5, catering to those looking for versatility. It doesn’t charge commission on trades but earns through spreads, which means fewer upfront costs.

Why We Picked It: AvaTrade’s AvaProtect feature allows users to protect a trade from losses for a fee. This unique service helps beginners manage risk effectively without feeling overwhelmed.

4. Best for Active Traders: EdgeClear

EdgeClear is designed by traders, for traders. It emphasizes direct market access and highly customizable trading features that are perfect for active and regular traders. Their fee structure is transparent and offers discounts to frequent traders, making them a cost-effective choice for high-volume traders.

EdgeClear’s platform is also API-friendly, which means traders can integrate third-party tools and develop custom scripts to enhance their trading strategies. This adaptability is especially beneficial for implementing specific algorithmic trading strategies.

Why We Picked It: EdgeProX, EdgeClear’s proprietary platform, delivers a slick, customizable interface with premium charting tools and fast execution, which is crucial for anyone trading futures at high speeds.

5. Best for Full-Service Features: Charles Schwab

Charles Schwab brings futures trading with the strength of a full-service brokerage house. They offer a powerful, flexible trading platform called StreetSmart Edge, which provides futures traders with in-depth market research, real-time news and a broad set of trading tools. Schwab’s integrated tools help traders gauge market trends and identify profit opportunities.

Schwab’s futures trading fees are slightly higher at $2.25 per contract, but the added service and support make it worthwhile for those who want the full package. Schwab also provides 24/7 customer support, something many traders find invaluable when navigating the complexities of futures trading.

Why We Picked It: Charles Schwab offers integration with other account types, so traders can seamlessly manage their futures, stocks and retirement accounts under one roof.

6. Best for Versatile Trading Options: TradeStation

TradeStation is a robust futures broker with a well-designed platform and a selection of investment options. It offers flexible pricing, allowing users to choose between per-contract pricing or unbundled pricing, which can be beneficial for high-volume traders. TradeStation’s RadarScreen feature helps you scan thousands of markets to identify trading opportunities in real time, a valuable tool for active traders.

The platform’s charting capabilities are also top-notch, with advanced drawing tools and a wide selection of indicators catering to new and seasoned traders. The margin requirements are competitive, making it a versatile choice for different trading strategies.

Why We Picked It: TradeStation’s EasyLanguage tool enables users to write custom indicators and trading strategies without a programming background, providing a unique advantage for creative traders looking to code.

7. Best for Low-Cost Trading: Generic Trade

Generic Trade is a no-frills futures broker with a clear focus: low-cost trading. Their commission is just $0.59 per contract, regardless of the number of trades you make. It’s perfect for traders who don’t need fancy platforms and want straightforward market access without the added fees.

The platform offers basic charts and data but removes many of the extra features that may be unnecessary for cost-conscious traders. This keeps its offering simple and effective, ensuring you pay only for what you need.

Why We Picked It: Generic Trade stands out because of its consistency in pricing, with no tiered structures or hidden fees. For traders looking for predictability in their trading expenses, this broker offers unmatched transparency and reliability, making budgeting for trading fees effortless.

8. Best for Innovative Features: Tastytrade

Tastytrade, formerly known as Tastyworks, caters to traders who love a visual, engaging interface. The platform is designed to emphasize options and futures, providing educational content that helps users make informed decisions. The unique layout and streaming content give traders insights straight from experts.

Tastytrade charges $1.25 per futures contract, which is competitive. It offers commission caps for certain trades. Its ethos revolves around providing education alongside trading, which is great for those looking to expand their knowledge as they trade.

Why We Picked It: Tastytrade’s visual trading interface simplifies futures trading, making complex strategies easier to understand and execute.

9. Best for Global Trading: Tickmill

Tickmill offers access to a broad range of futures markets, making it ideal for traders looking to join global trading. Their MetaTrader 4 platform is well-regarded for its speed, reliability, and user-friendly interface. Tickmill is known for its tight spreads and low commissions, especially in its VIP accounts.

Their platform also includes algorithmic trading capabilities, which is perfect for users who want to implement their custom trading scripts across different international markets.

Why We Picked It: Tickmill's global market access and competitive fee structure allow traders to diversify their futures trading on a larger scale, accessing markets across different continents.

10. Best for Beginners and Support: Optimus Futures

Optimus Futures is committed to providing personalized support to traders. Their educational resources and helpful customer service team cater well to beginners, guiding them through futures trading from start to finish. The platform is user-friendly and offers integration with multiple trading platforms, allowing traders to use their preferred tools.

Their commission structure is also competitive. They offer low margins, allowing beginners to start trading futures without committing too much capital upfront.

Why We Picked It: Customer support sets Optimus Futures apart. A dedicated team is ready to walk new traders through their platform, tools, and even basic strategies, ensuring beginners are set up for success.

Factors to Consider When Choosing a Futures Broker

Choosing a futures broker isn’t just about the lowest commission; multiple factors come into play. Here are some key points to consider:

• Regulatory Compliance: Ensure the broker is regulated by relevant financial authorities, such as the CFTC or NFA, to provide peace of mind that your investments are secure.
• Trading Platforms and Technology: Look for a broker that offers a reliable, intuitive platform. The quality of the charting tools, market data and execution speed can make or break your trading strategy.
• Commission Rates and Fees: Compare brokers' commission rates, margin requirements, and any hidden fees. A slight difference in commission can significantly impact your profits, especially for active traders.
• Available Markets and Products: Choose a broker that offers the futures contracts you want. Whether you want to trade commodities, financials or indices, ensure your broker has what you need.
• Customer Service Quality: Responsive and effective customer service is crucial. Look for brokers offering 24/7 support, especially if you plan to trade across different time zones.

Picking the Perfect Futures Broker

Finding the right futures broker can be a game-changer for your trading journey. Whether you’re looking for advanced tools, low commissions or great customer service, there’s a broker out there. From NinjaTrader's advanced features to Interactive Brokers' cost efficiency, align your choice with your trading goals and risk tolerance.

Frequently Asked Questions