Best online trading platform for punting oil?

[carter711]

I have an interest in the light crude oil futures market, and fancy a dabble trading it online.

Has anyone done this? and if so which online trading platform did you find offered the tightest spread and most user friendly interface?

I want to trade it from my iPhone aswell, if I'm away from my computer.

All help appreciated!

[ShadownINja]

IG Index/Markets. No complaints here. Forget tight spreads. Many offer tight spreads but don't fill you. You want reliable.

[XJSJohn]

i trust you know about PLATTS too if you are going to dabble in oil products.

[carter711]

Thanks fot the help. What does PLATTS mean?

[Legend83]

carter711 said:

Thanks fot the help. What does PLATTS mean?

Stick to premium bonds....

[ShadownINja]

Harsh but fair. I think the problem is that you hear gold/oil/pork bellies/unobtanium is going up so you think, "I'll buy some and trade. It's easy, right? Look at the charts. If I'd bought in 2007 I'd be a billionaire..." Of course, the minute you are long, the market tumbles.

That said, the updated charts provided by IG aren't bad at all.

Edited by ShadownINja on Thursday 5th August 15:42

[carter711]

I'm not a complete novice by the way, I was a professional futures trader from 2005-2007 and have worked in investment banking from then.

I am not expecting to become a millionaire from punting oil online!

I like trading and am only interested in it as a hobby, I don't know much about online trading platforms so am looking for pointers in the right direction as to what might be the best one for oil futures.


Thanks.

[Legend83]

carter711 said:

I'm not a complete novice by the way, I was a professional futures trader from 2005-2007 and have worked in investment banking from then.

I am not expecting to become a millionaire from punting oil online!

I like trading and am only interested in it as a hobby, I don't know much about online trading platforms so am looking for pointers in the right direction as to what might be the best one for oil futures.


Thanks.

No disrespect meant, I just assumed someone considering putting their own money into oil futures might have heard of PLATTS, one of the most common oil price data outlets.

I guess knowing that is not a prerequisite to being a good trader and identifying trends etc, so best of luck and let us know how you got on.

[XJSJohn]

Legend83 said:

carter711 said:

I'm not a complete novice by the way, I was a professional futures trader from 2005-2007 and have worked in investment banking from then.

I am not expecting to become a millionaire from punting oil online!

I like trading and am only interested in it as a hobby, I don't know much about online trading platforms so am looking for pointers in the right direction as to what might be the best one for oil futures.


Thanks.

No disrespect meant, I just assumed someone considering putting their own money into oil futures might have heard of PLATTS, one of the most common oil price data outlets.

I guess knowing that is not a prerequisite to being a good trader and identifying trends etc, so best of luck and let us know how you got on.

As legend says ... nothing more just a verbose +1

[Timmy35]

I find Capital Spreads to be very good.

As you've traded futures before all the usual warnings don't apply to my mind.

Have you thought about trading a mix of oil and Nat Gas? What contracts are you looking to trade WTI?

[pistonlager]

carter711 said:

I'm not a complete novice by the way, I was a professional futures trader from 2005-2007

Ah, so it was you that started the recession then!