The trading world is complex and encompasses many different terms and types. With all this, there are a range of brokers for every need. Traders interested in futures will need to find a broker with access to the CME, or Chicago Mercantile Exchange. This opens up a range of different contracts, boosting potential gains and creating a better trading experience.
However, finding the ideal broker can be a time-consuming and challenging task. For that reason, I’ve put together this comprehensive guide of the eight best CME brokers for future trading. I’ve assessed the unique pros and cons of these forex brokers, along with user sentiment, and their overall range of features. In the end, it will be easier to choose the best CME broker for personal needs. Without further ado, let’s begin:
Interactive Brokers offers the most comprehensive range of CME products with competitive pricing.
OANDA stands out for its user-friendly platforms and extensive research tools.
FOREX.com provides excellent accessibility for US-based traders.
Saxo Bank excels in offering a premium trading experience with advanced research capabilities.
City Index is known for its competitive spreads and advanced charting tools.
IC Markets offers ultra-low latency execution, ideal for high-frequency traders.
NinjaTrader provides powerful customization options and simulation tools.
TradeStation offers advanced trading technology and competitive pricing for active traders.
Broker
Best Known For
Minimum Deposit
Regulation
CME Products
Interactive Brokers
Comprehensive Market Access
$0
Multiple
Extensive
OANDA
Advanced Research Tools
$0
FCA, ASIC, MAS
Limited
FOREX.com
US Accessibility
$100
FCA, CFTC, NFA
Moderate
Saxo Bank
Premium Trading Experience
$0
Multiple
Extensive
City Index
Competitive Spreads
$150
FCA, ASIC
Moderate
IC Markets
Ultra-Low Latency Execution
$200
ASIC, CySEC, FSA
Moderate
NinjaTrader
Advanced Charting and Order Execution
$0
NFA, CFTC
Extensive
TradeStation
Advanced Trading Technology
$0
SEC, FINRA
Extensive
Criteria Breakdown Summary
To carefully assess each CME broker, I put together a set of criteria consisting of several important aspects. These included regulation, trading platforms, CME products, fees, execution speeds, maretings, customer support, and educational resources. I rated each of these CME brokers out of five for each area to give a full picture of their services.
Interactive Brokers
Best Known for Comprehensive Market Access
Interactive Brokers is a quality CME broker for futures trading. It has a large range of tradable instruments available, along with very competitive prices compared to its competitors. Their trading platforms are also good quality and easy to use, particularly for advanced traders who want a range of tools in addition. Risk management is also strong with this broker, including customizable alerts and real-time margin monitoring.
Interactive Brokers is a quality CME broker for advanced trader needs. Source: Interactive Brokers
Features
Interactive Brokers has a range of features available, including the Trader Workstation platform, which can be customized and includes advanced charting tools. There is a range of CME futures contracts available, and advanced order types and algorithmic trading. This broker also has an AI-powered assistant, IBot, which is useful for market information and fast trading.
Pros
Very low commissions with volume discounts available Access to global markets beyond CME futures Strong regulatory compliance across multiple jurisdictions
Cons
Complex platform that may be challenging for beginners High account minimums for some features
Criteria Evaluation
Regulatory compliance: 5/5 Trading platforms: 5/5 Range of CME products: 5/5 Fees and commissions: 5/5 Execution speed: 5/5 Margin requirements: 4/5 Educational resources: 4/5 Customer support: 3/5
Community Reviews and Expert Recommendations
Interactive Brokers enjoys positive feedback from traders, particularly for its low trading costs and access to the global market. Users appreciate the trading platforms and associated tools, and range of CME contracts.
“Buying shares, ETFs is super easy. The summary tables of one’s performance are fantastic. You can see immediately where you win and lose money and your IRR compared to several indexes. You can buy very different financial instruments. Fees are very reasonable. Once you test IBKR, you close all your share accounts in traditional commercial banks for individuals.” – Bernard C via Trustpilot
“Used Interactive Brokers since 2021. They provide low borrowing costs, reasonable commission fees, high free cash interest, a huge number of products, and a flexible trading platform.” – Hilary Luk via Trustpilot
Industry experts recommend Interactive Brokers for experienced traders and praise its regulatory compliance. Read our Interactive Brokers review for details.
Price
Interactive Brokers offers a low-cost trading environment with fees as low as $0.85 per contract, with volume discounts available.
OANDA
Best Known for Advanced Research Tools
OANDA is a well-regarded CME broker that has user-friendly platforms and offers excellent market research. It is mostly known for its forex offerings but there are also a range of CME contracts on offer, so it’s a good choice for anyone who wants to diversify their portfolio.
The proprietary platform, FxTrade, is full of useful features and caters to both beginner and advanced traders.
OANDA is a reputable forex broker that also offers futures trading. Source: OANDA
Features
OANDA’s standout feature is its proprietary FxTrade platform. This has a large number of advanced charting options, along with market analysis. It’s also very easy to use and suits all trading ability levels. The mobile app is ideal for trading on-the-go, and there are many educational resources for both beginner and experienced traders. The charting package is wide-ranging and includes more than 50 technical indicators for strong decision-making. Additionally, this broker integrates with popular trading software and supports algorithmic trading.
Pros
Excellent research and analysis tools No minimum deposit requirement Regulated by top-tier financial authorities
Cons
Limited product range compared to some competitors Higher spreads on some instruments
Criteria Evaluation
Regulatory compliance: 5/5 Trading platforms: 4/5 Range of CME products: 3/5 Fees and commissions: 4/5 Execution speed: 4/5 Margin requirements: 4/5 Educational resources: 5/5 Customer support: 4/5
Community Reviews and Expert Recommendations
Overall, OANDA is well-received by traders and many praise its easy-to-use platforms and range of charting tools. The low-fee environment is also mentioned positively, and the fast execution speeds. However, some users feel that this broker’s range of CME futures could be extended.
“Just recently reimbarked on my trading journey after a two year break. Restarted my account with Oanda but, hey, these guys have nailed it. I was reimbursed £155.00 when opening a TradingView account; this is just awesome. Which broker would contribute to your success by giving you the tools you need to make progress? The support from John and Brett is a testimony to Oanda, always there… phone email. Excellent service.” – Cary via Trustpilot
“Very professional and very kind also! Even if new to trading they help you find your way. Payments are fluid and short in time, same day for funding your account after being registered and proof passes etc. and up to three days for withdrawing funds.” – Shiba via Trustpilot
Industry experts praise OANDA’s strong regulatory compliance and its range of educational resources. Our OANDA review offers more insights.
Price
OANDA offers commission-free trading with spreads from 1.0 pips.
FOREX.com
Best Known for US Accessibility
FOREX.com is a strong and well-regulated broker for traders worldwide, but especially in the US. It offers a large range of CME futures and extensive forex pairs. This broker offers competitive pricing and excellent trading platforms, with fast execution speeds. Additionally, the number of educational resources is second to none, making it a solid choice for beginner and advanced traders alike.
FOREX.com is a well-regulated broker with a large range of tradable assets, including futures. Source: FOREX.com
Features
FOREX.com’s main feature is its trading platform, called Advanced Trading Platform, or ATP. It is very intuitive and easy-to-use, along with analysis and advanced charting tools. It is also possible to integrate Trading View, to extend the number of features even further. Additionally, there is a large range of educational resources available, which is where FOREX.com really shines.
Pros
Strong regulatory compliance, especially for US traders Competitive pricing with volume discounts Extensive educational resources for all skill levels
Cons
Higher minimum deposit compared to some competitors Limited product range on MT4 platform
Criteria Evaluation
Regulatory compliance: 5/5 Trading platforms: 4/5 Range of CME products: 4/5 Fees and commissions: 4/5 Execution speed: 4/5 Margin requirements: 4/5 Educational resources: 5/5 Customer support: 4/5
Community Reviews and Expert Recommendations
FOREX.com receives consistently positive feedback from users for its services, particularly its focus on education and market research. Users mention the high-quality customer support as another positive. However, some users believe the range of futures could be extended to bring it in line with specialized CME brokers.
“First thing which I like is that it is very easy and clear to see account details and easy to handle for everybody. Second, it is easy to transfer funds. No commission on trades. I especially love the mobile app.” – Nadeem Ahmed via Trustpilot
“Marcus P was amazing at answering my questions. He was able to break down his answers in lamest terms for me to understand and continue to lead me in the right direction for reports and other things.” –Jaron via Trustpilot
Industry experts recommend FOREX.com for all trading ability levels. They particularly mention the strong regulation and focus on educational resources. Learn more in our FOREX.com review.
Price
FOREX.com offers spreads from 0.8 pips on major pairs, with commission-based DMA accounts available.
Saxo Bank
Best Known for Premium Trading Experience
Saxo Bank is a good choice of CME broker for advanced traders in particular. There are many future contracts available, and excellent research tools. This broker’s proprietary platform, Saxo TraderGO, is very easy-to-use and has many advanced features, such as portfolio stress testing and risk management.
Saxo Bank offers a sophisticated trading environment for advanced users. Source: Saxo Bank
Features
Saxo Bank has a range of features that are suitable for advanced traders, including an advanced charting suite which has more than 50 technical indicators. The SaxoTraderGO platform offers real-time market news and analysis, and there are a wide range of CME futures products on offer. This broker offers competitive pricing and has many educational resources.
Pros
Wide range of CME futures products Excellent research and educational resources Multi-asset trading capabilities
Cons
Higher minimum deposit requirements Complex platform for beginners
Criteria Evaluation
Regulatory compliance: 5/5 Trading platforms: 5/5 Range of CME products: 5/5 Fees and commissions: 4/5 Execution speed: 4/5 Margin requirements: 4/5 Educational resources: 5/5 Customer support: 4/5
Community Reviews and Expert Recommendations
Overall, Saxo Bank receives positive feedback from users for its proprietary platform and educational resources. Users also highlight the fast customer support response times and wide range of tradable products.
“I really enjoy using this platform! It has a good interface and a large selection of securities, derivatives, and FX pairs.” – O H via Trustpilot
“Saxo Group has been a delight to work with. I encountered a small technical issue, but it was resolved very quickly by caring, kind, and polite customer service. When dealing with financial matters, this kind of professionalism is most appreciated.” – Andy M via Trustpilot
Industry experts recommend Saxo Bank for experienced traders and feel that the platform may be too complex for novice traders.
Price
Saxo Bank charges commissions from $0.85 per contract, with volume-based pricing available.
City Index
Best Known for Competitive Spreads and Advanced Charting
City Index is an excellent traders for both beginner and experienced traders, with platforms that are suitable for all. In particular, this trader offers many charting tools along with tight spreads and cost-effective trading. Their risk management features are high quality, and the AT Pro platform is intuitive and easy-to-follow. Additionally, this broker has a DMA (Direct Market Access) model for some futures contracts.
City Index offers a range of advanced charting tools for CME traders. Source: City Index
Features
City Index offers several features based around its AT Pro platform. The standout point is their advanced charting capabilities along with many technical indicators for experienced traders. However, the platform is easy-to-use for beginner traders too.
There is wide-ranging access to many CME futures contracts, along with many risk management tools, and competitive spreads.
Pros
Tight spreads on major futures contracts Robust risk management tools Extensive market analysis resources
Cons
Limited educational resources for beginners Higher minimum deposit for some account types
Criteria Evaluation
Regulatory compliance: 4/5 Trading platforms: 4/5 Range of CME products: 4/5 Fees and commissions: 4/5 Execution speed: 4/5 Margin requirements: 4/5 Educational resources: 3/5 Customer support: 4/5
Community Reviews and Expert Recommendations
City Index users generally rate their services, with the advanced charting tools often mentioned positively, along with competitive spreads. Users also value quality customer support and prompt response times.
Good, honest service and an excellent way to ‚trade‘ on financial markets for those who understand and appreciate the risks. I worry that some people may dabble without knowing enough about markets. One minor comment is that the opportunity to use guaranteed stop losses is perhaps not promoted enough and can be tricky to find on the trading platform.” – Peter Stace via Trustpilot
“City Index provides the opportunity to participate in the upside as well as in the downside of the Market at one of the lowest available costs. It’s a wonderful platform. Yes I would love to see almost all the US stocks on this platform but I would still give 5 stars.” –Giam via Trustpilot
Industry experts recommend City Index for both beginner and experienced traders, however they do feel that novice users need to take their time learning the platform. Our City Index review provides details.
Price
City Index has spreads from 0.4 points on E-mini S&P 500.
IC Markets
Best Known for Ultra-Low Latency Execution
IC Markets is a popular broker in the forex space with a true ECN model, however they also offer CME futures contracts. This is a strong broker for high-frequency traders in particular and their raw spread accounts offer extremely fast execution speeds. Additionally, several trading protocols are used to maximize the trading experience.
IC Markets specialized in forex trading but also offers CME futures. Source:IC Markets
Features
Alongside industry-standard MetaTrader 4 & 5, IC Markets also offers cTrader, giving a flexible experience for traders. There are many CME futures contracts available, all with competitive pricing. Additionally, raw spread accounts offer tight spreads and fast execution speeds, with algorithmic trading supported.
Pros
Ultra-low latency execution Competitive commission rates High leverage options available
Cons
Limited educational resources Customer support could be improved
Criteria Evaluation
Regulatory compliance: 4/5 Trading platforms: 4/5 Range of CME products: 4/5 Fees and commissions: 5/5 Execution speed: 5/5 Margin requirements: 4/5 Educational resources: 3/5 Customer support: 3/5
Community Reviews and Expert Recommendations
In general, IC Markets receives positive feedback from users for its competitive pricing and fast execution speeds. However, some users feel that the educational resources are lacking compared to other similar brokers.
“I was experiencing issues with logging in and account creation. The support staff was very kind and patient in solving my problems. I have long been with IC Markets, and their support has never failed me.” –Edward Soo via Trustpilot
“I feel that IC Markets is a top quality broker. Very easy to use and reliable. In addition, a member of the team whom I spoke to this morning really took their time to navigate me through my concerns.” –Ryan via Trustpilot
Industry experts recommend IC Markets for experienced traders in particular. They also agree that this broker’s educational resources could be more wide-ranging. Our IC Markets review delves into more information.
Price
IC Markets has raw spreads from 0.0 pips and charges commission of $3.50 per lot.
NinjaTrader
Best Known for Advanced Charting and Order Execution
NinjaTrader was established in 2003, making it a long-standing and reliable broker. With direct access to CME futures contracts, this broker offers a positive trading experience for high-volume traders. Commissions are competitive and there are many charting and order features for those who enjoy technical analysis.
NinjaTrader is a well-established trader with direct access to the CME market. Source: NinjaTrader
Features
NinjaTrader has a range of features, including its proprietary platform, NinjaTrader 8. Within this, there are many advanced charting features and market analysis tools. The workspace is also entirely customizable, giving a flexible approach for traders. There are many competitively-priced CME futures contracts available, along with strong backtesting capabilities.
Pros
Powerful customization options Low commissions for high-volume traders Excellent simulation and backtesting tools
Cons
Steep learning curve for new traders Higher costs for low-volume traders
Criteria Evaluation
Regulatory compliance: 4/5 Trading platforms: 5/5 Range of CME products: 5/5 Fees and commissions: 4/5 Execution speed: 5/5 Margin requirements: 4/5 Educational resources: 4/5 Customer support: 4/5
Community Reviews and Expert Recommendations
NinjaTrader receives positive feedback from users for its advanced charting and customization options. In particular, users enjoy the backtesting capabilities, along with strong customer support. However, some traders believe the platform may be too complicated for novice traders.
“Good software if you are looking to be a power user. The support on the forum is really good (it’s free!!), and the amount of communities using ninja is also large!” – David G via Trustpilot
“Wonderful experience dealing with the agent who phoned me today 10 Jan 2024. He was very knowledgeable. He was able to solve all my issues and more than I had originally asked for. I am very pleased with Ninja support. Well trained, polite, patient and understanding. Great experience.” – Deline Dorrington via Trustpilot
Industry experts recommend NinjaTrader for advanced traders and praise the range of backtesting and analytical features.
Price
NinjaTrader offers commissions from $0.53 per contract with an annual license.
TradeStation
Best Known for Advanced Trading Technology
TradeStation is a popular CME broker for experienced traders, and it is particularly known for its proprietary platform and excellent analytical features. There are many CME futures products with competitive pricing. The Easy Language programming tool is useful for automated trading, particularly in complex moves. Additionally, OptionStation Pro is available for strategy analysis and formation.
TradeStation is a quality CME broker for advanced traders. Source: TradeStation
Features
TradeStation’s main feature is its desktop platform which has many advanced charting tools, along with market analysis, and backtesting. Besides the aforementioned features, TradeStation also offers Matrix, which facilitates advanced order entry and market depth exploration. Finally, the Walk-Forward Optimizer is helpful in validating trading strategies for better decision-making.
Pros
Powerful analytical and backtesting tools Competitive pricing for active traders Robust mobile trading app
Cons
Complex platform for beginners Higher account minimums for some features
Criteria Evaluation
Regulatory compliance: 5/5 Trading platforms: 5/5 Range of CME products: 5/5 Fees and commissions: 4/5 Execution speed: 5/5 Margin requirements: 4/5 Educational resources: 4/5 Customer support: 4/5
Community Reviews and Expert Recommendations
Overall, TradeStation receives positive reviews, particularly for its in-depth analytical tools and advanced trading features. Many users enjoy the proprietary platform, however some believe it is too powerful for less experienced traders.
“Support folk are simply great. The complexity and sophistication of the programming and systems employed are beyond comparison. Buckle up. The learning curve is steep but well worth it. My most recent experience was a few days ago.” – Stephen via Trustpilot
“Being a new trader I have been overwhelmed with all the technology. TradeStation has made this new endeavor comforting. The help desk has helped me several different times and has been great each time. The platform is for the most part easy to navigate. This coming from someone that is not technologically savvy. Overall, I have enjoyed my experience with TradeStation and highly recommend the platform.” – DC via Trustpilot
Industry experts recommend TradeStation for intermediate to experienced traders and particularly highlight their advanced analytical features.
Price
TradeStation charges $1.50 per contract, with volume discounts available.
Notable Mentions
Errante
Errante is a relative newcomer on the trading landscape, founded in 2019. This broker offers a range of educational resources, alongside many assets and trading platforms. However, it does have an offshore regulator that must be carefully considered.
Tickmill
Tickmill is a well-regarded broker with several platforms and a high-quality app for on-the-go trading. Additionally, a large number of tradable instruments are available, along with excellent customer support.
ActivTrades
ActivTrades is a regulated broker with an excellent track record. It offers many trading platforms, along with fast execution speeds. It is a good choice for beginners, thanks to the range of educational resources. Learn more in our ActivTrades review.
JustMarkets
JustMarkets is a well-regulated broker with over a decade of experience in the trading space. It offers low spreads, fast execution speeds, and high leverage. It also has a low minimum deposit on its Standard account.
FAQs
What should I look for when choosing a CME broker?
Choosing any type of broker requires careful thought. The same approach applies to finding a CME broker. It’s important to think about elements such as regulatory compliance, products, fees, execution speeds, platforms, customer support, and educational resources. Also, consider your own trading preferences and goals, and ensure your chosen broker is in alignment.
How do CME futures differ from other financial instruments?
CME futures are standard contracts that are traded on the CME (Chicago Mercantile Exchange). These have several benefits, including a range of different trading instruments, such as commodities, stock indices, and forex. Additionally, future contracts use leverage, which is an attractive benefit for traders looking to use scalping.
What are the risks associated with trading CME futures?
All types of trading have a certain amount of risk, and CME futures are no different. The risks involved here include significant losses due to the presence of leverage. Market volatility and counterparty risk are also things to consider. It’s important to have a thorough risk management strategy to avoid excessive exposure to problematic situations.
How does leverage work in CME futures trading?
CME futures trading uses leverage. This allows a trader to control much of a contract with just a small amount of capital. This can increase profits but it can also lead to significant losses. In CME futures trading, brokers set a margin requirement based on market conditions and contract specifications. Careful decision-making and risk management are key.
What educational resources do CME brokers typically offer?
There are many CME brokers that offer a range of educational resources for beginner and advanced traders. These include webinars, articles, video tutorials, and even demo accounts. Some brokers also offer mentoring or coaching opportunities. When choosing a CME broker, explore the different educational resources available and choose one that will maximize your learning and development.
Final Thoughts
Choosing the right CME broker can make or break your trading experience. It’s vital to take the time to carefully think about your trading goals and preferences, along with your level of risk tolerance. Only then can you make a solid decision that will set you up for future success.
In this wide-ranging guide, I’ve covered eight of the best CME brokers on the market in 2024. I’ve looked at their strengths and weaknesses, dug deep into their features, and explored user sentiment. It’s clear that there is no single broker for every need, but there is certainly something for everyone. At TopBrokers, we understand the vital importance of choosing the right broker for your personal needs. To help, we’ve created a library of resources to help you compare forex brokers and make the best decision possible. We also have many educational tools, such as how to become a fearless forex trader, and how to create and manage a forex trading strategy. With key knowledge, such as how to read forex charts, your trading journey will be smoother and, ultimately, more profitable.
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