Daniels Trading Review 2024


2.8 / 5
Daniels Trading is #143 in our broker rankings.

I think the small-scale brokerage services available at Daniels Trading make it ideal for experienced traders looking for a bespoke futures trading experience.

- Daytrading Review Team

Daniels Trading was established in 1995 by renowned commodities trader, Andy Daniels, and is a division of the StoneX Group. The broker specializes in personalised futures trading, with access to 36 derivatives exchanges and 175 foreign exchange markets, among others.

$2000
eSignal
Forex, indices, commodities, futures, interest rates
-
Wire Transfer, Cheque

Forex Trading

My tests found that you can use either of the intuitive proprietary charting platforms at Daniels Trading to analyse and speculate upon 14 currency futures products, alongside several more e-mini futures.

Stock Trading

I also found an impressive 25 index futures products offered by Daniels Trading, a much greater number than many competitors. These indices track top global exchanges and several specialist products, such as the value-line index.

✓ Pros

  • A wide range of account types supports both hands-on and hands-off trading strategies and I like that the broker offers comprehensive advice, automation and management services for both
  • Experienced investors should be pleased that leverage rates can be negotiated on an individual basis, ensuring that strategies can be optimised without taking on excessive risk
  • I'm impressed with the variety of exotic futures products at Daniels Trading, including rare soft commodities and interest rate futures
  • The broker is authorised and regulated by the Commodity Futures Trading Commission (CFTC), a respected US regulator
  • The usability and client focus of the proprietary DT Pro trading platform is also a major advantage for me

✗ Cons

  • Almost all withdrawals are subject to a fee of at least $25 per request, which is relatively high compared to other brands
  • Daniels Trading is not really designed for beginners, with reasonably high fees and a minimum deposit of $2,000
  • I would prefer to see a greater range of asset types from the firm, not just futures products

Daniels Trading is a futures brokerage based in Chicago, Illinois. They offer a range of services from self-directed online futures trading, where you’re provided with just the trading platform and are free to make your own trades, all the way to a fully managed investment fund led by a Commodity Trading Advisor (CTA). This review will explore the firm’s platforms, services, additional features and fees.

Daniels Trading Details

Founded in 1995, the company is headed up by Andrew Daniels – an experienced trader in agricultural commodity markets who has made his name on the grain floor of the Chicago Board of Trade. Alongside him are two executives and their team of 17 brokers and eight support staff.

Daniels Trading Ltd is regulated by the National Futures Association (NFA) and caters for anyone looking to invest in the futures market, regardless of experience.

Platforms & Tools

3 / 5

DT Pro

DT Pro is the firm’s home-grown premier futures platform that was created with the active trader’s needs in mind. The software is easy-to-use but still offers all of the functionality you would expect to find – and more.

Features include, but are not limited to:

The website also features numerous resources to enable you to get up and running on the platform, including a quick start guide, video tutorials and software highlights. Also, there are no minimum or monthly fees to use Daniels Trading.

Daniels Trading DT Pro
Daniels Trading DT Pro

MultiCharts

For professionals, Daniels Trading also offers the MultiCharts platform.

MultiCharts is famous for it’s high standard functionality, including:

Daniels Trading MultiCharts
Daniels Trading MultiCharts

Assets & Markets

3.5 / 5

You can trade the following markets with Daniels Trading:

The firm has particular expertise in agricultural commodities.

Fees & Costs

2.5 / 5

Daniels Trading is transparent that its commissions tend to be higher than discount brokers. This is disclosed on the promise that the service they offer is a high-standard that you can trust. They represent value in terms of quality and not just price. Fees vary and you’ll need to make a pricing request on the broker’s website for more details.

Leverage

Daniels Trading are not transparent about their leverage options, however these can be obtained upon enquiry. This is a downside as it’s clear you have to move through the account opening motions to get the basic details needed to make a decision about signing up.

Note margins can change with market conditions.

Mobile Apps

Daniels Trading provides a mobile app using its DT Pro platform. You’ll need to be signed up with them to download the app, but you can do this through their demo account. For access, go to their website to register. You’ll then receive confirmation via email which will contain the login credentials required. Download the app from either Google Play or the IStore and use the details provided to sign in.

Daniels Trading mobile app
Daniels Trading mobile app

Traders can move interchangeably between the app and the website portal as the two are integrated. This means that any trades placed on either platform can be instantly viewed on the other. A great feature of the app is that you can receive push notifications about your trades even if they were placed on the web.

Deposits & Withdrawals

The broker accepts several payment options including bank transfer and cheque. The company does not accept money orders. The minimum deposit to invest with Daniels Trading is $2,000.

There are small charges for withdrawing funds:

Demo Account

Demo accounts are available for the DT Pro platform; and you can test out their app functionality using the free trial account for 14 days. For MultiCharts you can also access a demo account which is free for their 30-day trial period.

Beyond this, account holders will have unlimited free access to both live and demo accounts on the DT Pro platform as long as they maintain the $2,000 minimum account requirement.

Deals & Promos

Daniels Trading markets itself as a broker that offers quality of service. Therefore deals, bonuses and promotions aren’t within the brand’s ethos. Welcome incentives and promos also go against regulatory restrictions.

Regulation & Trust

3.5 / 5

Daniels Trading is regulated by the National Futures Association (NFA) and therefore subscribes to the code of practice outlined by the Commodities and Futures Trading Commission (CFTC).

This affords the broker a level of trust not held by those that are unregulated. However, NFA membership is not conducive to endorsement and traders should therefore still conduct their own background checks using the NFA’s BASIC search functionality.

Additional Features

Daniels Trading provides a wealth of resources that are available free of charge, including a regularly updated blog with tips and market strategy to help you maximise profit. If you’re new to the game, the broker even provides a handy Futures 101 pdf guide.

Other resources include:

If you sign up to their mailing list, you’ll also gain access to:

Account Types

Daniels Trading offers a few different accounts based on the service level required and experience of the trader.

Self-Directed Online Futures Trading

This option is available for traders who are confident in their own knowledge base and are happy to go it alone. You’ll still have access to all their online resources to give you tips and strategies and will have full control of all your trades.

Within this service level, there are three tiers: Basic, Plus and Premium. All of which afford you the following:

For the Plus and Premium accounts, you’ll be able to access increased benefits such as order entry and trade management assistance and broker consultations.

Other account solutions include:

Benefits

If you’re looking for a trusted broker with the knowledge base to help you with your investment, Daniels Trading has what you need:

Drawbacks

If you’re an experienced trader that wants the most well-regarded software with the lowest commissions, Daniels Trading might not be for you:

Trading Hours

You can trade 24/7 on their platforms depending on the market opening times for each asset. See contract specifications on the company’s website for particular market sessions.

Customer Support

2 / 5

Daniels Trading can be reached by contacting one of the following numbers:

Alternatively, you can submit a form via their website to request pricing for their trade, hedge and invest services, or just for general queries on their contact page.

Safety

The Daniel’s Trading website is HTTPS secure, assuring your personal data against hackers. Plus, your investment is protected against brokerage liquidation as the firm segregates their customers’ funds in line with the Commodity Future Trading Commision (CFTC) requirements.

Furthermore, there are a wealth of positive customer reviews out there from those who have found the broker’s advice reliable and trustworthy.

Daniels Trading Verdict

If you’re interested in trading futures with a particular eye on agricultural commodities, Daniels Trading is definitely a broker to consider. The range of services from simple platform provision all the way to managed funds means the right level of support is available for all traders. On the flip side, if you’re looking for a cheap and cheerful MT5 broker, Daniels Trading might not be for you as its expertise does come at a cost.

Top 3 Alternatives to Daniels Trading

Compare Daniels Trading with the top 3 similar brokers that accept traders from your location.

  1. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
    Go to Interactive Brokers
  2. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  3. AvaTrade – AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
    Go to AvaTrade

Daniels Trading Comparison Table

Compare Daniels Trading With Similar Brokers
Daniels Trading Interactive Brokers IG AvaTrade
Rating 2.8 4.3 4.4 4.9
Markets Forex, indices, commodities, futures, interest rates Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
Demo Account Yes Yes Yes Yes
Minimum Deposit $2000 $0 $0
Minimum Trade 0.01 Lots $100 0.01 Lots 0.01 Lots
Regulators National Futures Association (NFA) FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
Bonus
Education No Yes Yes Yes
Platforms eSignal Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Leverage 1:50 1:30 (Retail), 1:250 (Pro) 1:30 (Retail) 1:400 (Pro)
Payment Methods 2 6 6 13
Visit Visit Visit Visit Visit
Review Interactive Brokers
Review
IG
Review
AvaTrade
Review

Compare Trading Instruments

Compare the markets and instruments offered by Daniels Trading and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Daniels Trading Trading Instruments
Daniels Trading Interactive Brokers IG AvaTrade
CFD No Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No No Yes Yes
Gold Yes Yes Yes Yes
Copper No No Yes Yes
Silver Yes No Yes Yes
Corn No No No Yes
Crypto No Yes Yes Yes
Futures Yes Yes Yes Yes
Options No Yes Yes Yes
ETFs No Yes Yes Yes
Bonds No Yes Yes Yes
Warrants No Yes Yes No
Spreadbetting No No Yes Yes
Volatility Index No No Yes Yes

Daniels Trading vs Other Brokers

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Daniels Trading was established in 1995 by renowned commodities trader, Andy Daniels, and is a division of the StoneX Group. The broker specializes in personalised futures trading, with access to 36 derivatives exchanges and 175 foreign exchange markets, among others.

FAQ

Where is Daniels Trading regulated?

Daniels Trading is regulated by the National Futures Association in accordance with the rules outlined by the Commodity Future Trading Commision (CFTC).

Does Daniels Trading offer a demo account?

Daniels Trading offers a 14-day free demo account on their DT Pro platform and 30-day free trial on MultiCharts. If you invest with the firm, you’ll continue to access the demo account free of charge as long as you maintain the $2,000 minimum deposit.

How much capital do I need to trade with this broker?

The minimum deposit at Daniels Trading is $2,000. This is notably higher than many online retail trading brokers.

Does Daniels Trading charge fees?

Daniels Trading does not charge fees to use their trading platforms as long as you have the minimum account deposit in place.

Is Daniels Trading a trustworthy broker?

Daniels Trading is a regulated broker with a wealth of experience in agricultural commodities futures. It garners strong customer reviews and its website is HTTPS secure.