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I just called in and talked to TradeStation. I was informed that as of now, they are not aware of any changes in fees for their customers. However, they really couldn't give me any clear answers on anything pertaining to the CME fee changes. It's like they aren't even aware of them. For me, I have 3 options, wait and see what happens in January, drop the LLC account or just move funds to my Forex account and close the Futures account.
Can you help answer these questions from other members on NexusFi?
Could someone please clarify. If trading 3 products: GC, CL & Index futures under a General Partnership that would be $85/per exchange each month. So $255/month in fees + $15/month + around .05/contract additional commissions. Obviously this is not a dream come true but whats the big deal here for any reasonable sized account? So aside from the additional ~.05 commissions it would be roughly $3,240/year in fees. What am I missing if anything? Maybe a profitable trader should be focusing on adding an additional contract in size that likely could have been added a long time ago.
The big deal is about LLC's.... this has been stated a few times now. $2,000 a year isn't going to make a break anyone, but $25k a year in fees that didn't exist yesterday starts to leave a mark.
That was the original math based on being charged per platform, per broker, per exchange as a professional. The new math is just per broker, per exchange as a professional regardless the number of platforms. So it is about 8k a year -- if -- what is being said today remains true. At this point it is changing almost every day it would seem.
Ru planning on just using your own platform with one broker and exchange and maybe a back up? Or is it crucial to have access to them all to keep up with the forum? Sorry Im confused why you need them all?
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Yes, I need/want/demand more than one brokerage account.
I have had multiple accounts for years and have diversified my funds in this way across multiple brokers. There are advantages. Besides, I have gotten used to doing things a certain way -- swings in one account, day trades in another for example.
The number of platforms no longer has anything to do with it as I posted about a few days ago.
In a perfect world, you out of all people should be exempt from these outrageously high fees due to the simple fact that you provide help to countless traders through this website in regards to choosing brokers, data feeds, exchanges, and platforms. Not to mention your forum probably generates revenue to the CME by simply letting people make journals and become better futures traders.
sorry if I missed this, but does developing your own platform give you any perks in regards to the fees?
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
For futures trading I use only Mirus and in a conversation with them was quoted $85 per exchange and the $15/month fee + ~.05 commissions extra. So considering I'm trading GC, CL & Index Futures this is around $270/month in fees besides the additional commissions. As a General Partnership I'm told it would be classified the same as an LLC so all these quotes are based on professional status. Still though only works out to several thousand a year in fees and a little more in commissions.
