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futures taxes and fees
Started:September 5th, 2016 (09:12 PM) by homembolsa Views / Replies:404 / 6
Last Reply:October 1st, 2016 (07:53 PM) Attachments:0

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futures taxes and fees

Old   #1 (permalink)
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Florianópolis
 
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futures taxes and fees

Hello futures traders!

I am building a trading journal system that computes pnl along with commission and fees, but since I never traded futures, I would like to know if someone could breakdown the fees involved in buying one mini/full es,yq,nq, etc contract.

Do you guys pay sec, finra, exchange fees? If so, how are they calculated?

I'll post the link to my system if anybody replies that way I don't spam the thread with it.

 
Old   #2 (permalink)
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Old   #3 (permalink)
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Omer עומר / Israel י
 
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This link might be helpful

Of course, all depends of your situation, but it is a start..

http://ninjatrader.com/PDF/ninjatrader_futures_commissions.pdf

 
Old   #4 (permalink)
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Florianópolis
 
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Helps a lot. Thank you. So when you receive your trading summary with the breakdown of charges, do they include exchange and order routing fees in the commission or they break it down?

 
Old   #5 (permalink)
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London, UK
 
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Futures Edge on FIO
Yes usually your FCM will show you:

a) the brokerage commission (I pay 0.15$ per side, expect to pay up to 1$ or 2$ per side if you're starting)
b) the exchange commission (depending on what market, financials are around 1.50$, commos are around 2$)
c) NFA fee 0.02$

If you're looking at backtesting, you'll need to think about slippage more than the execution and clearing cost. Slippage depends on your trading style and quantity, if you trade breakout you'll tend to have more slippage than contrarian.

On a market like Crude Oil trading breakout, you'll get maybe 0.2 or 0.3 ticks of slippage, whereas on Boble, Schatz, you can easily get 1 tick on average, if you trade more than 10-15 lots.

What I do is I run the trading algo live with a bit of money for a month in order to know my slippage cost and then I pretty much keep that slippage cost in mind for the next 6 months - 12 months for my backtests.

Regards

 
Old   #6 (permalink)
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homembolsa View Post
Helps a lot. Thank you. So when you receive your trading summary with the breakdown of charges, do they include exchange and order routing fees in the commission or they break it down?

I try to keep it as simple as possible. I figure ~$4.3 per RT no matter the instrument. Then I tack on .70 for taxes per RT. So it is rounded to ~$5 per RT. Any tax/commission slippage works itself out in the end if the volume of trades is high enough.

I mean, if you make $1,000 on a single RT contract, you'll have more than .70 tax at end of year! But it's just a general figure when needing a gross-cost quickie. *shrugs*

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Old   #7 (permalink)
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Please use the existing main tax thread. Search "tax thread"

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