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Emini Commission cost


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Emini Commission cost

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  #1 (permalink)
 davidyfl 
new city, NY/US
 
Experience: Intermediate
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I trade Emini everyday for about 5 months now. But i realized the cost of commission is more than my profit... Now I'm with AMP futures. Can anyone tell me which brokerage firm has the best price? Thanks,

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  #2 (permalink)
 steve2222 
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You are there already.

Your problem is your strategy/money management.

You must be scalping and you are suffering from a combination of a win rate that is not high enough and your winning trade $ are too low relative to the $ of your losing trades.

Search 'expectancy' on this site.


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  #3 (permalink)
 GFIs1 
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I think that around 4$ per round trip and contract is not much money.
If you trade via a bank (by phone order or so) you can have easily
50$ and more per order.

For your net profit you need to calculate your own total costs that are not only
the brokering costs but ALL your other costs for your trading like chart program,
computer costs, location etc. Only then you see your net gain after a certain period.

So your trading will need an accurate money management to stay in the game.
Perfect, that you have seen it at the beginning.

Good trades
GFIs1

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  #4 (permalink)
 mattz   is a Vendor
 
 
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davidyfl View Post
I trade Emini everyday for about 5 months now. But i realized the cost of commission is more than my profit... Now I'm with AMP futures. Can anyone tell me which brokerage firm has the best price? Thanks,

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Keep in mind that on the ES, $2.30 Cents goes to the CME, which is at times more than 50% of the cost.
Consider doing a CME Membership, or exploring a platform that does not charge routing fees, where you just pay straight commissions+exchnage. Thet tend to be more expensive on a per month basis, but can save you in the long run. For example TT X Trader, or CQG IC, and recently we even explored such possibility with RIthmic.

Matt Z
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  #5 (permalink)
 Forexoil 
Bangkok thailand
 
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mattz View Post
Keep in mind that on the ES, $2.30 Cents goes to the CME, which is at times more than 50% of the cost.
Consider doing a CME Membership, or exploring a platform that does not charge routing fees, where you just pay straight commissions+exchnage. Thet tend to be more expensive on a per month basis, but can save you in the long run. For example TT X Trader, or CQG IC, and recently we even explored such possibility with RIthmic.

Matt Z
Optimus Futures

There is a risk of loss in futures trading. Past performance is not indicative of future results.

ok exactly how much would it work out at. i trade 60 to 100 contracts a day.
would it be worth going with tt at that?
i would like to see a side by side comparison with tradestation and interactivebrokers - my current brokers- with tt via optimus. including the monthly charge

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Forexoil View Post
ok exactly how much would it work out at. i trade 60 to 100 contracts a day.
would it be worth going with tt at that?
i would like to see a side by side comparison with tradestation and interactivebrokers - my current brokers- with tt via optimus. including the monthly charge

I believe that with this quantity you can save. However, I prefer to take it off line.
Please PM me and I will share my email with you.

Thanks,
Matt Z
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  #7 (permalink)
 chik 
San Diego, California
 
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Double check these numbers, but last I checked, ES was $0.77 to Globex and $0.40 for clearing. On top of that you have your brokerage fee, which at Interactive Brokers I believe is $0.85 for your first thousand of the month and less after that.

Your current commissions look like they might be around $2500–$4000/mo, and leasing a CME IOM membership for $300/mo might reduce those commissions to $1300–$1900/mo.

I think being an exchange member defines you as a professional at Interactive Brokers, so you'll probably be asked to pay a little more for data feeds, if you use theirs.

Alternatively you might consider incurring fewer commissions.

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  #8 (permalink)
 davidyfl 
new city, NY/US
 
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mattz View Post
Keep in mind that on the ES, $2.30 Cents goes to the CME, which is at times more than 50% of the cost.
Consider doing a CME Membership, or exploring a platform that does not charge routing fees, where you just pay straight commissions+exchnage. Thet tend to be more expensive on a per month basis, but can save you in the long run. For example TT X Trader, or CQG IC, and recently we even explored such possibility with RIthmic.

Matt Z
Optimus Futures

There is a risk of loss in futures trading. Past performance is not indicative of future results.

Great! Thanks Matt!


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 mattz   is a Vendor
 
 
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chik View Post
Double check these numbers, but last I checked, ES was $0.77 to Globex and $0.40 for clearing. .......

Agreed. Except that I quoted clearing and Globex as one figure RT (Buy and Sell), should have been more accurate 2.34 cents 1.17 per side
Total commissions could be lowered on X Trader and CQG IC way below 85 cents.

Thanks,
Matt Z

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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