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Trading the new CME E-Micro's (E micro) MES, MNQ, MYM, M2K and other micros
According to the Amp futures cost calculator, ALL IN commissions with CQG/Sierrachart for the new Micro Emini contracts are only 0.15 per side for large accounts (above 25K). I just talked to a guy through AMP chat and asked if this is a mistake, as the normal commissions per side are 0.40 for small accounts, but he confirmed, 0.15 is the actual ALL IN commission if you put 25K in your account (0.13 for > 1000 contracts, 0.12 for > 5000, 0.11 for >10000).
That is equivalent to 1.50 per side for the normal Emini contracts, which actually cost 1.80 per side for <1000 contracts/25K accounts at Amp.
So no matter how many contracts you trade, you will save a lot by substituting each Emini contract with 10 Micro contracts
I just did a bit of math. If you currently do 50 roundturns per day with an Emini contract, that's 1000 rt per month, 2000 contracts per month, equals 20,000 Micro contracts per month, your average all in commission with AMP would be 0.1185 cents per side, the equivalent of 1.18 per side trading the normal Emini contract
CME/CBOT and NFA fees for the Micro Emini futures are 0.22 per side, so I wonder how AMP can actually offer 0.15 and lower per side? Probably just an introductory offer?
Commissions do not cover exchange fees, unless you get a specific all in RT.
Matt Z
Optimus Futures
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.
1 800 771 6748 local 561 367 8686 email [email protected]
Actually they do cover exchange fees, at least that's what they told me. I asked twice. Take a look at the AMP cost calculator, those are the ALL IN fees, but only for accounts 25K and up
Chat started:
(08:39:25 AM) lukas : Hi, you confirmed yesterday that the new micro eminis are 0.15 ALL IN and lower per side for large accounts above 25K as stated in your cost calculator. Just wanted to check again if this is correct, as exchange and NFA fees alone for the micro futures are 0.22 per side
(08:39:34 AM) *** AMP | Jeff joined the chat ***
(08:40:04 AM) AMP | Jeff: yes Lukas, its correct
(08:40:18 AM) lukas: so is this just an introductory offer?
(08:40:42 AM) AMP | Jeff: yes, it can change
(08:41:06 AM) lukas : I see, ok thanks
(08:41:17 AM) AMP | Jeff: you are welcome
(08:41:27 AM) lukas : Have a nice day
(08:41:33 AM) AMP | Jeff: you as well
I am not sure how the exchange is 20 cents per side, but commissions are 15 cents.
Not meaning to question their integrity because I am also their IB, but numbers are numbers, and no one is going to pay you to trade. Will ask the desk there and update.
Matt Z
Optimus Futures
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.
1 800 771 6748 local 561 367 8686 email [email protected]
