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Brokers fees


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Brokers fees

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  #1 (permalink)
boston ma
 
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Who has lower fees for trading CL AMP futures or Mirus futures?

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  #3 (permalink)
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You can ask them to negotiate on fees, usually they will at least match a lower comms rate assuming you have written quotes. In that sense it doesn't matter which is lowest, you can then choose the vendor that gives you the right quality.

Good luck

Sands.

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  #4 (permalink)
Gdansk/Poland
 
 
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It also depends on the platform you are using. For example if you want to use Xtrader PRO you can pay $1200 per month or $.50 per transaction. AMP was giving me for eminis $4.55 R/T and I wanted to use Xtrader PRO for extra $.50 per trade. So it would be $5.05 per trade for eminis. Now I trade with Dorman Trading and I use CQG Qtrader. My commission for CL is $3.76 R/T + $0.25 per trade for CQG. It's the lowest commission I've found so far.

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  #5 (permalink)
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ness1g View Post
Who has lower fees for trading CL AMP futures or Mirus futures?

Feel free to shop, but remember the commissions at a broker will not kill your trade, but poor customer service and technology will. So do your due diligence when shopping.

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  #6 (permalink)
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mikorn83 View Post
It also depends on the platform you are using. For example if you want to use Xtrader PRO you can pay $1200 per month or $.50 per transaction. AMP was giving me for eminis $4.55 R/T and I wanted to use Xtrader PRO for extra $.50 per trade. So it would be $5.05 per trade for eminis. Now I trade with Dorman Trading and I use CQG Qtrader. My commission for CL is $3.76 R/T + $0.25 per trade for CQG. It's the lowest commission I've found so far.

https://www.cmegroup.com/company/files/NYMEX-Fee-Schedule.xls

Non-member exchange fees for CL are $1.45/side or $2.90 round turn. NFA Fees are $0.02/side. So if your paying $3.76 R/T your paying $0.41/side for execution. Compared with Retail Rates at places like Interactive Brokers that's pretty good.
Commissions scale with volume and high volume traders get rates significantly lower than that. Combine that with the fact that a high volume trader is almost sure to be a member and their clearing rate for CL could be as low as $1.20/$1.25 R/T.


tturner86 View Post
Feel free to shop, but remember the commissions at a broker will not kill your trade, but poor customer service and technology will. So do your due diligence when shopping.

This... +1... of course a great broker has great rates, great customer service and great technology.

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  #7 (permalink)
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SMCJB View Post
https://www.cmegroup.com/company/files/NYMEX-Fee-Schedule.xls

Non-member exchange fees for CL are $1.45/side or $2.90 round turn. NFA Fees are $0.02/side. So if your paying $3.76 R/T your paying $0.41/side for execution. Compared with Retail Rates at places like Interactive Brokers that's pretty good.
Commissions scale with volume and high volume traders get rates significantly lower than that. Combine that with the fact that a high volume trader is almost sure to be a member and their clearing rate for CL could be as low as $1.20/$1.25 R/T.


This... +1... of course a great broker has great rates, great customer service and great technology.

I laugh at people who cut brokers down because of $0.10 but then complain when service isn't the best, or their platform is crap.

I would pay an extra $1 to have a top of the line broker and platform. (Luckily I have found that broker without having to pay more!)

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  #8 (permalink)
St Paul, MN, USA
 
 
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mikorn83 View Post
It also depends on the platform you are using. For example if you want to use Xtrader PRO you can pay $1200 per month or $.50 per transaction. AMP was giving me for eminis $4.55 R/T and I wanted to use Xtrader PRO for extra $.50 per trade. So it would be $5.05 per trade for eminis. Now I trade with Dorman Trading and I use CQG Qtrader. My commission for CL is $3.76 R/T + $0.25 per trade for CQG. It's the lowest commission I've found so far.

$3.76 R/T before the CQG fees of $40/mo and 25 cts/trade is a good price, and as noted a couple of posts above, it beats Interactive Brokers' $4.64 R/T for CL.

For non-member (retail) and without minimum volume, I *think* the next cheapest rates are from Ironbeam or one of their introducing brokers. The last time I saw one of their ads they were $1.00 R/T which would be $3.94 R/T for a CL contract with exchange and NFA added in.

I've never looked at Dorman -- are you going direct or through an introducing broker, and are you getting all the data fees for the CME (CME, CBOT, NYMEX, COMEX) and ICE US at no additional cost?

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  #9 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

I agree 100% with @tturner86 on the subject of fees. His comments apply to all facets of trading not just Futures trading.

You have to find a broker who you are comfortable with. One that reliably, efficiently executes your trades. The fact that they might charge a few percent more than others in the same business is immaterial if you are making decent trades for decent returns.

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  #10 (permalink)
Gdansk/Poland
 
 
Posts: 33 since Feb 2014
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SMCJB View Post
https://www.cmegroup.com/company/files/NYMEX-Fee-Schedule.xls

Non-member exchange fees for CL are $1.45/side or $2.90 round turn. NFA Fees are $0.02/side. So if your paying $3.76 R/T your paying $0.41/side for execution. Compared with Retail Rates at places like Interactive Brokers that's pretty good.
Commissions scale with volume and high volume traders get rates significantly lower than that. Combine that with the fact that a high volume trader is almost sure to be a member and their clearing rate for CL could be as low as $1.20/$1.25 R/T.


This... +1... of course a great broker has great rates, great customer service and great technology.

that's true. if you are a high volume trader the commission is a different story. my monthly volume is around 800 RT's which is probably not enough for a lower commission.

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