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NT 8 Futures Micro Contracts and Data feeds
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NT 8 Futures Micro Contracts and Data feeds

  #1 (permalink)
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NT 8 Futures Micro Contracts and Data feeds

I am a beginner planning to start trading Futures Micro Contracts with a $3000 account to begin with (I am also interested in trading Crypto.)

YMU19 - Dow Futures E-Mini
NQU19 - Nasdaq 100 E-Mini
GCQ19 - Gold
ESU19 - S&P 500 E-Mini
CLQ19 - Crude Oil WTI

Are contracts I am interested in focusing on when it comes to Futures. Been looking around at data feeds, and Kinetic seems to be a popular one. However when I select these markets I end up at a minimum 200-300 USD fee per month for the data feed only?

Am I doing something wrong, is there any better solutions or is this what people starting out trading micro contracts simply pay?

The fees has made me a little bit interested in Tradestation which seem to have lower fees on their data feeds (if I understood the pricing correctly).

Maybe Tradestation is the better option for a beginner?
They do not appear to charge any fees for the data feed but maybe I misunderstood.

Tried both FXCM and Rithmic trial data, but cannot load Crypto with it and feels meaningless to play around with since its not real time.


So, many questions and do not feel clear enough yet in this Jungle to yet get started.

Appreciate any input


Last edited by DavidRosenlund; June 24th, 2019 at 05:56 AM.
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  #3 (permalink)
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DavidRosenlund View Post
Are contracts I am interested in focusing on when it comes to Futures. Been looking around at data feeds, and Kinetic seems to be a popular one. However when I select these markets I end up at a minimum 200-300 USD fee per month for the data feed only?

I won't comment on the rest but 200-300 USD per month for the data feed is absurd.

The CME charges 15 USD per month for access to all of their exchanges, this is what you should be aiming to pay.

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  #4 (permalink)
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DavidRosenlund View Post
I am a beginner planning to start trading Futures Micro Contracts with a $3000 account to begin with (I am also interested in trading Crypto.)

...

Been looking around at data feeds, and Kinetic seems to be a popular one. However when I select these markets I end up at a minimum 200-300 USD fee per month for the data feed only?

Am I doing something wrong, is there any better solutions or is this what people starting out trading micro contracts simply pay?
...

So, many questions and do not feel clear enough yet in this Jungle to yet get started.

Appreciate any input


xplorer View Post
I won't comment on the rest but 200-300 USD per month for the data feed is absurd.

The CME charges 15 USD per month for access to all of their exchanges, this is what you should be aiming to pay.

Do you perhaps not have a brokerage account? CME charges $105 (the same as the "professional" fee) for their data per exchange for people without a trading account, which is not worth it. Separate subscriptions to data feeds, on their own, are also very pricey.

The CME data fee with an account is much smaller: $5 per exchange or $15 for a bundle of all four "exchanges." (In CME Group there are four exchanges, CME, CBOT, NYMEX and COMEX. You'll need to check the contract you want to trade to find the exchange it is traded on.)

Brokers generally provide data feeds either free or for small fees (data feed costs are separate from the basic CME data fees.) While it is possible to have a brokerage account and a separate subscription to a data feed, this is seldom done except by knowledgeable traders who are aware of the (always small) differences between different feeds. A beginner should not go this route.

There may also be a per-transaction fee for the data provider and other costs, but these will be small.

Most (or all) brokers will offer at least a 2-week trial for free. Often they will extend it for another two weeks, giving you a month, essentially. This is real-time data, which you can practice trading in simulation mode. Brokers generally offer a number of trading platforms (most brokers do not have only one proprietary platform, although some, like TradeStation, do), so you get a chance to get used to them as well. There are threads on FIO where opinions are offered about both brokers and trading platforms. Trading platforms differ and, except for single-broker situations, generally are provided by independent firms, at various costs, including free when part of a broker-provided package.

So perhaps you are starting looking at the data feed first, which may be starting at the wrong end of the pipeline.

I have no clue about cryptos, nor about their data availability. You can search for these topics using the Search in the upper right corner of every page of this forum.

Good luck, and don't make expensive decisions too quickly.

Bob.


Last edited by bobwest; June 24th, 2019 at 10:39 AM. Reason: Updated with info on different CME exchanges & fees.
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bobwest View Post

Brokers generally provide data feeds either free or for small fees.
...

Bob.

A slight correction: nothing is free, of course. Brokers will include exchange fees and data fees and anything else you may have to pay on a per-transaction basis into the "commission" fee you are charged, which will generally be in the range of four bucks or less per contract, "round-turn" (both entry and exit), and "all-in" (everything included.) You may also see a "per side" figure quoted, which, unsurprisingly, is half the round-turn number.

The pure broker commission part of the all-in fee will be much less, so be aware of this when you shop for brokers. They will often tell you about their "low, low" commissions, which is technically correct (it's their part of the total fee, which includes exchange fees and data fees on a per-transaction basis.)

There may or may not be other costs, but never in the range you originally quoted.

Bob.

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  #6 (permalink)
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DavidRosenlund View Post
I am a beginner planning to start trading Futures Micro Contracts with a $3000 account to begin with (I am also interested in trading Crypto.)

YMU19 - Dow Futures E-Mini
NQU19 - Nasdaq 100 E-Mini
GCQ19 - Gold
ESU19 - S&P 500 E-Mini
CLQ19 - Crude Oil WTI

Are contracts I am interested in focusing on when it comes to Futures. Been looking around at data feeds, and Kinetic seems to be a popular one. However when I select these markets I end up at a minimum 200-300 USD fee per month for the data feed only?

Am I doing something wrong, is there any better solutions or is this what people starting out trading micro contracts simply pay?

The fees has made me a little bit interested in Tradestation which seem to have lower fees on their data feeds (if I understood the pricing correctly).

Maybe Tradestation is the better option for a beginner?
They do not appear to charge any fees for the data feed but maybe I misunderstood.

Tried both FXCM and Rithmic trial data, but cannot load Crypto with it and feels meaningless to play around with since its not real time.


So, many questions and do not feel clear enough yet in this Jungle to yet get started.

Appreciate any input

Those are the exchange fees a retail trader would pay sans a brokerage account. So in short, open a brokerage account and your market data exchange fees drop way down.

Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
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  #7 (permalink)
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DavidRosenlund View Post
I am a beginner planning to start trading Futures Micro Contracts with a $3000 account to begin with (I am also interested in trading Crypto.)

YMU19 - Dow Futures E-Mini
NQU19 - Nasdaq 100 E-Mini
GCQ19 - Gold
ESU19 - S&P 500 E-Mini
CLQ19 - Crude Oil WTI

Are contracts I am interested in focusing on when it comes to Futures. Been looking around at data feeds, and Kinetic seems to be a popular one. However when I select these markets I end up at a minimum 200-300 USD fee per month for the data feed only?

Am I doing something wrong, is there any better solutions or is this what people starting out trading micro contracts simply pay?

The fees has made me a little bit interested in Tradestation which seem to have lower fees on their data feeds (if I understood the pricing correctly).

Maybe Tradestation is the better option for a beginner?
They do not appear to charge any fees for the data feed but maybe I misunderstood.

Tried both FXCM and Rithmic trial data, but cannot load Crypto with it and feels meaningless to play around with since its not real time.


So, many questions and do not feel clear enough yet in this Jungle to yet get started.

Appreciate any input

If you're a regular retail trader from home, not professional or working for big firms , you can access this data with monthly affordables fees by opening an Interactive brokers single account. I use IB since 2006 and they're one of the best choices.

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