Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Hi
I'm looking to trade daily timeframe. Of course if I dont see a setup during the month, I wont trade. This is a problem bc looks like many brokerage firms due to the exchange, charge a inactivity fee. Does anyone know a discount brokerage firm that does not charge an inactivity fee?
Can you help answer these questions from other members on NexusFi?
I have a FOREX/FUTURES and EQUITIES account with TD Ameritrade and they have no inactivity fee. The Think or Swim platform is good for infrequent traders too. If your just trading stocks Scottrade has no fee for inactivity either.
What they (and any other brokerages) pass on is data feed subscription fee. CME data fees are mandatory for all data users. The only way to avoid them is to deactivate market data subscriptions and it has to be done prior to the beginning of the month.
You are confusing an Inactivity Fee with the new CME data fee which all brokers pass on.
In addition to exchange data fees, some brokers charge an 'In Activity' fee if you do not do so many round trips a month with them. This is to contribute towards covering the brokers infrastructure and support they provide you given they have received no commission from you.
In repsect of this Inactivity Fee, AMP does not charge one.
Yes they will pass on the CME data fee, but then so will all brokers (unless they decide to pay for it on your behalf out of their profits).
Just to clarify this. With AMP, if you only had data from the Eurex and ICE exchanges (and not CME) and you did not place one trade during the month, AMP will not charge any inactivity fee.
The only way to avoid the CME fee is to ask for the feed to be suspended say for next month if you know you are going to be on holiday etc.
This was the proposal. My understanding there has been a lot of push back, so we may not see all these changes.
The $15 per platform per user fee could be a problem for some traders (or their brokers).
Mike
I recall someone posting that their broker was just absorbing it as an overhead. Can't recall if that post was in this thread or not, but have a look. It would be one of the more recent messages I would have thought - say post November 2014.
