FuturePath offers 7 different FCMs, 5 different back end data feeds, and 15 different platforms - some with pass through fees and some not. What traders do not realize is that different FCMs charge different rates and back end data feeds can be priced differently - so it is not just a matter of pure volume. It is easy to see how this could be construed as a lack of transparency.
As a departure point, FuturePath will always be lower than TradeStation! To give a further example - for a client using Ninja or Photon, trading 200 round turns per month, the average commissions would be .75 per side.
The following user says Thank You to LindaR for this post:
Since I am looking to transfer from Mirus where I used NT/Zenfire, my question is, can FuturePath match the Mirus standard rates as listed on their website (I can post a link if the moderator allows it)?
Interested to understand the process of moving from Mirus/Zenfire/Dorman to Futurepath/Rithmic/Dorman. Would this allow me to keep the current Dorman account in place or do we need to start from scratch. Keeping the Dorman account and funds in place would simplify the transition. Essentially the only change is replacing Mirus with Futurepath and Zenfire with Rithmic direct.
Also assuming that I can continue to trade Eurex exchange (FDAX,FGBL) with Futurepath/Rithmic/Dorman.
To answer your question, we can do better than Mirus's posted rates.
Hi Kmac: In all fairness to Mirus, it would be polite to express your wishes to Mirus first. If you wish to go through FuturePath to clear Dorman using Ninja and Rithmic combination, the easiest solution is to simply repaper through us. You are welcome to call me at 312-987-2060. - Damon
The following user says Thank You to Damon Pavlatos for this post:
Damon, it would be good if you confirmed here that Eurex is available on Rithmic. Is Dorman the only FCM in your lineup who offers Rithmic with Eurex?
For this FCM/feed combination what are:
- reasons for giving you a preference over going with Dorman directly
- minimum account balance
- minimum volume requirement or inactivity fee, if any
- ES intraday margin and all in commission for a low volume trader
The following 2 users say Thank You to Bogan for this post:
FuturePath offers Rithimic, Knight and CQG for Ninja at Knight as well. We like
Rithmic the best for Ninja. If you liked the old Zen Fire that was the original
Minimum account balance is 4,000.00. We will go below that if warranted.
No minimum volume or activity fee.
Margins are basically 25% of the overnight. We can go lower but it's only in special cases.
Low margins are usually provided by small firms who take on to much risk in doing so. It's dangerous
for the clients and the firms who have too low margins. When you have huge unexpected swings in
the market. Question to ask yourself. Do want to be at a firm that offers 2,000.00 accounts to trade
4-5 emini's. I won't name firms but this is how firms go down. Meanwhile I have watched over and
over in my 34 years in the futures industry traders going debt because of low margins.
25% will get you around 800.00 to 1100.00 per contract to trade. The flash crash went down over
2,500 per emini in 3 minutes. An account with 2,000 who had 500.00 margins would be debit in 6,000
in minutes. Just something to think about....
If you want a commission quote for low volume for Mirus traders I would safely be able to say we will at least
match your rate and probably would come in lower.
I have to say Big Mike has a great site for traders. I will try to answer any other questions that might
come up. Thanks so much for the interest in our firm. We have had a great response from traders
and many of you have joined our firm. I wish you luck trading this week. The training wheels came of
the market yesterday...
Sincerely, Damon Pavlatos
The following 4 users say Thank You to Damon Pavlatos for this post: