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Advantage Futures (www.advantagefutures.com)

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  #11 (permalink)
 
 
Posts: 1,176 since Nov 2009


moarla View Post
final question: what has a seat on CME to do with commissions? can i have both?

you can have both, yes... having a seat is a personal choice.. it comes down to what is your privacy worth... I personally opt for privacy...

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  #12 (permalink)
Asia
 
Experience: Beginner
Platform: NinjaTrader, TOS
 
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International Incentive Programs

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  #13 (permalink)
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
 
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Big Mike View Post
You need to take note they are not showing you the total all-in price on their website. Here are the fees they are not listing:

https://www.cmegroup.com/company/files/CME_Fee_Schedule.pdf

From a real quick look at their website, they are not cheaper than other FCM's.

As for high volume, if you are high volume then you should lease a seat and commissions become much, much, much cheaper. Once you hit 2,000 round turns a month or so I think it is beneficial to lease a seat (do your own math, this is just from memory when I last looked into it).

Even if they were cheaper, price is not everything. Make sure you continue to do your research before you open an account. The same goes for even if they are more expensive, maybe you like them a lot anyway.

BASIC Details

https://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata0611.pdf



Mike

CME offers a special category of direct member called ECN Member

look that up on their website,

however that only applies to their products, not the ICE or other exchanges and is more formal than leasing through an established member

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  #14 (permalink)
Italy - Tirol
 
 
Posts: 17 since Aug 2011
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i am new on this forum, but i must say, i get alreddy good and helpful answers. tks all

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  #15 (permalink)
Ireland
 
Experience: Intermediate
Platform: Ninja Trader
Trading: CL GC FDAX
 
Posts: 120 since Jul 2012
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Hi folks

I am trying to find a reliable broker to trade the FDAX and preferrably in Strassburg or better in Frankfurt.

Considering Advantage.

Anyone got any further comment on AF?

Cheers..

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  #16 (permalink)
Italy - Tirol
 
 
Posts: 17 since Aug 2011
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they have a server for XTRADER in Frankfurt.

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  #17 (permalink)
Market Wizard
New York, NY
 
Experience: Beginner
Platform: Vanguard 401k
Broker: Yahoo Finance
Trading: Mutual funds
 
Posts: 1,076 since Jul 2012
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I talked to these guys the other day and they're offering a pretty competitive rate, might be the way to go if that's what you're looking for. My guys will like to know more about them in other ways as we're afraid to start an account that could form 5-10% of their customer equity, so if you guys have been with them:

1. How does their back-office reporting capability compare to other FCMs?

2. How responsive is their trade desk in handling orders and requests over the phone?

3. Any idea how do they handle their unencumbered cash balances?

4. What about their tech expertise?

5. What's the biggest problem that you've had with them?

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  #18 (permalink)
Rio de Janeiro, Brazil
 
Experience: Beginner
Platform: SC, S5T
Trading: Es
 
Posts: 617 since Jan 2013
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artemiso View Post
I talked to these guys the other day and they're offering a pretty competitive rate, might be the way to go if that's what you're looking for. My guys will like to know more about them in other ways as we're afraid to start an account that could form 5-10% of their customer equity, so if you guys have been with them:

1. How does their back-office reporting capability compare to other FCMs?

2. How responsive is their trade desk in handling orders and requests over the phone?

3. Any idea how do they handle their unencumbered cash balances?

4. What about their tech expertise?

5. What's the biggest problem that you've had with them?

I cant answer some of these, at least probably not to the level you are looking for but I was with them for 4 years and they were the best clearing firm hands down. My old prop shop had no loyalty and switched literally every 4-5 months for a few years trying to shave a penny off rates so i have experience with tons- fortis, goldman, MF etc, and when i went out on my own i chose them because net net i had virtually zero problems. Tech is top notch and their support is extremely responsive. Nirm and ambaj really keep that tech dept. on top of things. I never even had to call the trade desk because i never got caught with a position on the few times they went down. I have traded in their office next to their brokers though and they are good dudes who seem to do great work.

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  #19 (permalink)
Market Wizard
New York, NY
 
Experience: Beginner
Platform: Vanguard 401k
Broker: Yahoo Finance
Trading: Mutual funds
 
Posts: 1,076 since Jul 2012
Thanks: 739 given, 2,265 received


Profiler View Post
I cant answer some of these, at least probably not to the level you are looking for but I was with them for 4 years and they were the best clearing firm hands down. My old prop shop had no loyalty and switched literally every 4-5 months for a few years trying to shave a penny off rates so i have experience with tons- fortis, goldman, MF etc, and when i went out on my own i chose them because net net i had virtually zero problems. Tech is top notch and their support is extremely responsive. Nirm and ambaj really keep that tech dept. on top of things. I never even had to call the trade desk because i never got caught with a position on the few times they went down. I have traded in their office next to their brokers though and they are good dudes who seem to do great work.

Wow, thanks for your reply, really confirms some of my thoughts. Are you still with them?

Goldman is good but the problem is that they have no incentive to compete down their clearing fees: we have to hit 4% in CME daily volume to get to the next tier in clearing fee.

I share your opinion about Nirm - definitely one of the top guys in Chicago even if compared among the bigger primes.

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  #20 (permalink)
Rio de Janeiro, Brazil
 
Experience: Beginner
Platform: SC, S5T
Trading: Es
 
Posts: 617 since Jan 2013
Thanks: 321 given, 589 received



artemiso View Post
Wow, thanks for your reply, really confirms some of my thoughts. Are you still with them?

Goldman is good but the problem is that they have no incentive to compete down their clearing fees: we have to hit 4% in CME daily volume to get to the next tier in clearing fee.

I share your opinion about Nirm - definitely one of the top guys in Chicago even if compared among the bigger primes.

my account is still open there but its dormant since my scalping game went the way of the dodo last year and i joined FT71s brokerage which clears through OEC in order to be in his chat room and learn about volume profiling and its only right to pay the man some commish.

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