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total costs involved to trade ES emini futures


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total costs involved to trade ES emini futures

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  #1 (permalink)
Calgary/Alberta/Canada
 
 
Posts: 6 since Apr 2013
Thanks: 1 given, 0 received

Hello, I'm new to the ES futures trading. I've been simulating for some time. I want to know all the costs to trading live (ie. fees, commissions, exchange fees, data feed costs, broker fees)

I understand you need the following to get started live:

1) Open an account with a Broker
2) Choose a platform
3) Data Feeder (is this necessary? Don't brokers provide this for free?)

Sample 1 Monthly Cost
-Assuming you’ve paid the Ninja Trader platform one-time payment of $600/yr lease

-Broker using NT platform charges $3.95/round trip
-Broker monthly Maintenance - $30/month
-Kinetick Data Feed - $80 /month <--is this necessary or can I use free data feeders from Brokers?
-Total $110 + $189.60 (assuming 48 round trip trades per month)
-Total $299.60/month in commissions and fees
-Any other fees missing above?

I thank you beforehand for your time and help.

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  #3 (permalink)
Bangkok, Thailand
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Ninja Trader Brokerage/Continuum
Trading: ES
 
fido's Avatar
 
Posts: 46 since Nov 2010
Thanks: 174 given, 48 received


Your broker will provide you with a price feed ... you don't necessarily need an external feed.

As far as I know I have never paid any maintanence fee to have an account - ask the brokers you are considering.

You could buy a NT lifetime licence if you are sure this is the platform you want to use ... that would save you some money in the long run.

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  #4 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,791 since Jul 2012
Thanks: 1,439 given, 5,381 received


Liquid Trader View Post
Hello, I'm new to the ES futures trading. I've been simulating for some time. I want to know all the costs to trading live (ie. fees, commissions, exchange fees, data feed costs, broker fees)

I understand you need the following to get started live:

1) Open an account with a Broker
2) Choose a platform
3) Data Feeder (is this necessary? Don't brokers provide this for free?)

Sample 1 Monthly Cost
-Assuming you’ve paid the Ninja Trader platform one-time payment of $600/yr lease

-Broker using NT platform charges $3.95/round trip
-Broker monthly Maintenance - $30/month
-Kinetick Data Feed - $80 /month <--is this necessary or can I use free data feeders from Brokers?
-Total $110 + $189.60 (assuming 48 round trip trades per month)
-Total $299.60/month in commissions and fees
-Any other fees missing above?

I thank you beforehand for your time and help.

Don't forget about slippage. It is not a direct cost that someone bills you for, but it will definitely impact your bottom line, probably much more so than all those other items combined (depending on your trade frequency).

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  #5 (permalink)
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, HSI, Nikkei
 
josh's Avatar
 
Posts: 5,466 since Jan 2011
Thanks: 6,054 given, 14,433 received


Liquid Trader View Post
-Assuming you’ve paid the Ninja Trader platform one-time payment of $600/yr lease

If you are confident enough that NT is what you want to use, consider a lifetime license for a little more. Wish I could sell you mine, but unfortunately it is non-transferable.


Liquid Trader View Post
-Broker using NT platform charges $3.95/round trip

Pretty reasonable, a bit on the high side, but depends on which broker and data feed you will be using.


Liquid Trader View Post
-Broker monthly Maintenance - $30/month

Some brokers will charge a maintenance fee if you trade less than 30 (or so) round turns a month. But if you are actively trading, averaging about a trade a day, then you should not have to pay a maintenance fee.


Liquid Trader View Post
-Kinetick Data Feed - $80 /month <--is this necessary or can I use free data feeders from Brokers?

This depends on 2 things: what data feed would you be getting through your broker? And, do you use any bid/ask studies in your trading (like delta)?


Liquid Trader View Post
I thank you beforehand for your time and help.

No need to thank beforehand, feel free to use the Thanks button at the bottom of a helpful post, and thanks afterward are always better anyway

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  #6 (permalink)
london
 
 
Posts: 166 since Jan 2012
Thanks: 43 given, 162 received


kevinkdog View Post
Don't forget about slippage. It is not a direct cost that someone bills you for, but it will definitely impact your bottom line, probably much more so than all those other items combined (depending on your trade frequency).


Slippage in ES? Get real.

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  #7 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,791 since Jul 2012
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TheDude View Post
Slippage in ES? Get real.

Can't tell if you are serious, or just trolling...

If you think I am wrong, please explain why.

THANKS

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  #8 (permalink)
Omaha NE
 
Experience: Intermediate
Platform: IQFeed compatible
Trading: ES
 
Robert Carrillo's Avatar
 
Posts: 271 since Jun 2012
Thanks: 234 given, 376 received

Some would argue that one's first consideration should be the data. After all, not all data feeds are created equally, and GIGO certainly applies here.

Once you've decided on a data source, whether broker or 3rd party, then find a software supported by that data with the features and support you requre.

Then, decide on a broker that supports that software.

Best with your trading!

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  #9 (permalink)
Calgary/Alberta/Canada
 
 
Posts: 6 since Apr 2013
Thanks: 1 given, 0 received

Thanks all! Great info provided. My mind is a lot more clearer now than it was 2 days ago.

Man do forums ever kick butt!

Cheerios.


Maurice

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  #10 (permalink)
Philippines
 
Experience: Beginner
Platform: Sierra
Trading: Futures/Bund
 
Posts: 18 since Mar 2013
Thanks: 45 given, 28 received


I'm working thru the same drill right now. Been looking at alot of different platforms, feed providers and brokers. Looks like i've decided on sierra charts, it looks so crude on the outside but once i started working with it, has everything i want and feels sooo solid (doesn't look like i'll need any add ons for now..) I also saw a thread (but can't find it) on a do over, what platform to start with... and saw good comments.

Now, my other reason for choosing Sierra is because it comes with historical data.. So i figure for about US$35 a month (1 year advance top plan) i'm paying for backfill data and get to use the platform for free.

I know this is not a thread about platforms, but when i went back and forth on my search, my platform became the first priority, as the others items followed. Of course, this could change once my trading journey continues and i can justify more cost. I can not comment on the accuracy of the data (or where it comes from) hopefully someone else can chime in with more experience.

As for live data, well your broker should provide that for free/ hence that's where the sierra historical data comes into play. Most broker live data only goes back so far unless you pay for it.

(as mentioned above, some brokers do charge a fee if your not making the round trips); which is another thing i've been looking at when choosing a broker.

Again, sorry to go into the platform itself, but like i mentioned.. For me (a starter), my research concluded that it is the first piece of the puzzle, as a way to control cost.

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April 17, 2013


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