Daniels Trading Review 2023
Daniels Trading offers a variety of trading solutions & advanced tools.
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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.
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:
- Advanced technical indicators
- Pit & electronic Markets
- Depth of Market (DOM)
- Direct market access
- Customer indicators
- Automated trading
- Advanced Orders
- Option & futures
- Market replay
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.
For professionals, Daniels Trading also offers the MultiCharts platform.
MultiCharts is famous for it’s high standard functionality, including:
- Dynamic portfolio-level strategy backtesting
- Interactive performance reporting
- 300+ strategies and indicators
- Support for 20+ data feeds
- High-definition charting
- Easy language support
- Genetic optimization
- Market scanner
- Data replay
You can trade the following markets with Daniels Trading:
- Foreign exchange (FX) including big pairs such as EUR/USD and GBP/USD
- Equity indices, such as FTSE 100, NASDAQ, Dow Jones
- Agricultural commodities including corn and wheat
- Energies including natural gas and petroleum
- Metals such as gold and platinum
- Interest rates
The firm has particular expertise in agricultural commodities.
Spreads & Commission
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.
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.
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.
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.
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:
- Overnight cheque requests – $15
- Domestic wire transfers – $25
- Foreign wire transfers – $30
- Cheque requests – Free
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.
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.
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:
- Order Entry Handbook
- Quotes and charts
- Futures calculator
- Futures calendar
If you sign up to their mailing list, you’ll also gain access to:
- E-books and educational guides
- Sample advisories
- Webinar invites
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:
- Margin call assistance
- 24-hour support desk
- Resolve out trades
- Technical support
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:
- Broker Assisted Futures Trading – You’ll have the benefit of working with one of the firm’s group of trusted Futures Brokers who will assist you with your trades.
- Automated Futures Trading Strategy Execution – Your trades will be managed by a third-party computer-based futures trading strategy.
- Managed Futures Investment – The firm’s experienced CTAs will manage your futures investments in entirety.
If you’re looking for a trusted broker with the knowledge base to help you with your investment, Daniels Trading has what you need:
- Full range of services from software provision through to managed investment funds
- Access to demo accounts and app functionality
- Wealth of e-learning resources
- Reliable market knowledge
- NFA regulated
If you’re an experienced trader that wants the most well-regarded software with the lowest commissions, Daniels Trading might not be for you:
- Higher commissions than standard online brokers
- Focussed on commodities trading
- No cryptocurrencies offered
- No MT4 & MT5 platforms
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.
Daniels Trading can be reached by contacting one of the following numbers:
- Toll-Free – +1.800.800.3840
- Local / Int’l – +1.312.706.7600
- Fax – +1.312.706.7605
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.
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.
Daniels Trading accepts traders from Australia, Thailand, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Daniels Trading from Canada.
Daniels Trading Details
|Minimum Trade||0.01 lots|
|Regulated By||National Futures Association (NFA)|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|Guaranteed Stop Loss||No|
CFD Trading Details
Forex Trading Details
Compare Daniels Trading
Compare Daniels Trading with similar brokers that accept traders from your location. Among available brokers these are the most similar to Daniels Trading:
OANDA – OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is authorized by leading regulators, including the CFTC/NFA. Around the clock support is available, alongside flexible contract sizes and automated trade executions.
Go to OANDA
Webull – Webull is a US-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC and FINRA with a strong trust rating. Low fees, no minimum investment and generous bonuses have made the discount broker popular with online investors.
Go to Webull
Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
Go to Forex.com
Daniels Trading Comparison Table
|Markets||Forex, indices, commodities, futures, interest rates||Forex||Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs||Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options|
|Minimum Trade||0.01 lots||$0||$5||$1|
|Regulators||National Futures Association (NFA)||CFTC, NFA||SEC, FINRA||CySEC, IIROC, NFA, CFTC, FCA, CIMA, CIRO|
|Bonus||–||$5,000 welcome bonus with a deposit of $500||Six free stocks||–|
|Platforms||–||MT4, TradingView, AutoChartist||–||MT4, MT5, TradingView, AutoChartist, TradingCentral|
|Leverage||–||1:30 EU, 1:200 Global||–||1:200|
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.
Daniels Trading vs Other Brokers
Compare Daniels Trading with any other broker by selecting the other broker below.
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.
|Daniels Trading offers a variety of trading solutions & advanced tools.|