Hi Alex, there are no blatant overnight fees, but it does not mean that staying overnight is free. The prices of futures are incorporating interest rate financing and dividend releases, which means that far from the expiry date, the price of the future instrument is buffed up against the underlying price, and that price adjustement will narrow until it gets closer to the expiry date. Unlike CFDs, the dividend adjustments are not compensated by the broker, which means you lose on the price evolution directly. Although you will not feel it, it happens behind the scene…
So it’s a misconception to believe that swinging overnight has no cost on futures, it makes you think so because how it’s packed, its internal functionning being less transparent.
That’s why I urge traders to teach themselves educational knowledge, and follow some official courses, like the Series 3 exam material from the NFA (you can buy books for $50 to $200). You’ll learn technicalities that you are unaware of.
About the platforms, there is too much to discuss. Just one exemple, since the futures market is open with a deep order book, you might want to teach yourself to use Buy at Ask or Sell at Bid (limit) orders, in order not to suffer slippage from Market orders, these come as buttons on NinjaTrader, SierraChart, etc, not MT5. You might wanna use more complex orders like Market If Touched to avoid partial fill, etc. Then, these platforms handle well the specifics of rollovers on continuous contracts, etc. …and many other detailed functions.
By default, MT5 is very limited and just cover stuff too much on the surface. I don’t think you can be trading futures seriously like you should without much addons, and again I doubt that everything is available at all or that’s the right path to be dependant on them. What I’m saying is that a guenine futures platform cover more needs than a forex oriented platform. Anyway, if traders want to complicate their life, that’s their problem. Cheers
Edit : some brokers like IB are making you pay an extra fee to be overnight on leverage… it is very cheap, but it exists