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Trading the new CME E-Micro's (E micro) MES, MNQ, MYM, M2K and other micros
But I don't trust anything I read on the AMP commission calculator webpage. They have numerous quoted commissions that are 100 times lower than actual. All due to what appears to be incredibly sloppy calculation work, and zero attention to detail.
According to the Commission Templates on NT8 on the lifetime license the all in rate is 85 cents per contact for all Micros E-Mini. The standard 53 cent commission will still apply.
AMP charges 37 cents on the flat rate account.
Tradovate charges 56 cents on the free membership.
NinjaTrader charges 85 cents on the lifetime license.
We would gladly recommend a clearing to match with the person's needs whether FX or Futures.
Thanks,
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.
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For what it's worth, here is an excerpt from a conversation with NT brokerage which may stimulate some grey matter. Or not but here ya go:
[I have a lifetime license BTW, which affects commission rates. Also, I haven't decided where I will trade E-Micros, I am providing this merely for illustration.]
Hi Dan,
Sounds reasonable. From my trading perspective, I look at your E-mini commission as .75 tick per round turn:
($1.83*2)/$5.00 = .75
Whereas the E-micro has a 1.6 tick per round turn commission
($.41*2)/$.50 = 1.62
Of course E-micro isn’t going to be as good as the E-mini, but still reasonable. To break even with a plan using the E-micros will require an additional .9 tick of expectancy, assuming good liquidity and the same spread. (yet to be seen but I’m hopeful)
On the upside, if I can get a good track record with E-micros, I can look forward to another .9 ticks of expectancy when I “graduate” to E-minis.
Thanks for your help,
-Bob
------------------------------------
Bob,
Thanks for the info. As I’m sure you can guess, the CME is releasing these contracts to give novice traders a lower barrier to enter the futures market.
For more experienced traders, one of the main benefits of these micro contracts is that you can offset your E-mini positions with these micro contracts. This allows you to scale in and out a bit easier.
Sincerely,
Dan
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So there you have it. I realize I'm guessing about liquidity in the E-micros, but with barriers to to becoming a market maker lower then ever, I think it will be there.
One thing I hadn't considered was combined Mini/Micro positions, with apparently NT has considered. Maybe the Micro to Mini "graduation" will not be a single event, but more of a transition. Hmmm.
There you go. They updated it. I see the same thing.
Bonus: it looks like they lowered the micro fx futures commission too. Some of the regular contracts where lowered by a penny. Updating my own spread sheet. Interactive Brokers is still cheaper by a 4 cents at the moment for these fx micros at 33 cents. AMP is still 4 cents cheaper for the Micro E-minis at 37 cents.
but here ya go: