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Apex Futures
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Apex Futures

  #1 (permalink)
Elite Member
Melbourne/Australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: AMP/CQG
Favorite Futures: 6J
 
steveh3167's Avatar
 
Posts: 15 since Apr 2011
Thanks: 6 given, 7 received

Apex Futures

If anyone has any experience/advice regarding Apex Futures I would be interested in your comments.

I am presently familiarising myself with the NT platform (downloaded from Apex). Chris Ross has been very helpful in the queries I have had but I could not find any threads regarding Apex on the forum. Using the Search facility did not return any matches either.

I am only just starting out on the journey of exploring futures trading and thanks in advance for any responses.

Steve

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  #2 (permalink)
Quick Summary
Quick Summary Post

Support for residents of Quebec, Canada: You will only be able to use the Firetip Trading Platform. You cannot trade through Ninjatrader or Multicharts. Source: Apex Support.


Last edited by JustinIsHere; November 11th, 2014 at 12:20 PM.
 
  #3 (permalink)
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they are an introducing broker for OpenECry.... so they provide you with customer service.. you can check basic over at the NFA for details on them..

Search Results

other than that, OEC stats are...

http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata0311.pdf

85M in customer funds (column e)
2.3M in excess net capital (column d) * ok, but not great... better than AMP for example..

for FCM's those are the main two metrics to look for... and also pay attention to the trends, so comparing from a year ago or 3-6 months ago...

if the comms are not lower, you might as well just go with OEC directly... unless their support is excellent and super, above all things.

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  #4 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
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Apex is an Introducing Broker: n introducing broker is a futures broker who has a direct relationship with a client, but delegates the work of the floor operation and trade execution to another futures merchant The merchant firm is usually a close partner of the IB (Definition from Investopedia).

Introdrucing Brokers should offer a better server than large discount brokers. This comes at a cost. APEX offers execution at $ 1.99 per side. You need to add exchange and regulatory fees. For a halfturn you would pay

for ES: $ 1.99 + $ 1.14 (exchange fee) + $ 0.02 (regulatory fee) = $ 3.15
for CL: $ 1.99 + $ 1.45 (exchange fee) + $ 0.02 (regulatory fee) = $ 3.46

Just a comparison for half turn execution cost for ES (including exchange and regulatory fess as advertised on their websites)

-> LightSpeed $ 1.76
-> Velocity $ 1.76 X-Trader / $1.91 NinjaTrader
-> Interactive Brokers $ 2.01
-> Advantage Futures $ 2.15
-> TradeStation Securities $ 2.36
-> Apex Futures $ 3.15
-> Mirus Futures $ 3.26

Other brokers such as Infinity Futures or Amp Futures do not advertise commissions, you have to negociate them.

However you can expect a superior service from an introducing broker, which should translate to a better availability, when you have a problem. So you have to find out, whether you need the service and pay for it, or whether you use a low commission broker and accept limited service.

I would at least try to neogciate the rates with APEX, because they are expensive.

For further information you can have a look at the 2010 broker ranking (Futures Magazine December 2010 issue), the reader's choice awards (Technical Analysis of Stocks and Commodities, 2011 Special Trader's Issue) or the Broker evaluation on the EliteTrader forum.


Last edited by Fat Tails; May 12th, 2011 at 04:20 PM. Reason: Edit: see post #9 below
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  #5 (permalink)
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-> Velocity $ 1.76
-> LightSpeed $ 1.76
-> Interactive Brokers $ 2.01
-> Advantage Futures $ 2.15
-> TradeStation Securities $ 2.36
-> Apex Futures $ 3.15
-> Mirus Futures $ 3.26

CROSSLAND/DDT $1.66

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  #6 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
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MetalTrade View Post
-> Velocity $ 1.76
-> LightSpeed $ 1.76
-> Interactive Brokers $ 2.01
-> Advantage Futures $ 2.15
-> TradeStation Securities $ 2.36
-> Apex Futures $ 3.15
-> Mirus Futures $ 3.26

CROSSLAND/DDT $1.66

Crossland does not publicly announce these rate, I conclude that they are negotiated rates, which may depend on the volume traded. I also assume that these rates include exchange and regulatory fees as for the other brokers above.

The above rates are official non-negotiated rates as per website. Depending on trading volumes, further discounts will apply.

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  #7 (permalink)
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Fat Tails View Post
Crossland does not publicly announce these rate, I conclude that they are negotiated rates, which may depend on the volume traded. I also assume that these rates include exchange and regulatory fees as for the other brokers above.

The above rates are official non-negotiated rates as per website. Depending on trading volumes, further discounts will apply.

I have them from the website from DDT who act as their only IB. I have negotiated rates who are even significantly lower than the $1.66 per side all included.

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  #8 (permalink)
 Vendor: www.velocityfutures.com 
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Fat Tails View Post
Apex is an Introducing Broker: n introducing broker is a futures broker who has a direct relationship with a client, but delegates the work of the floor operation and trade execution to another futures merchant The merchant firm is usually a close partner of the IB (Definition from Investopedia).

Introdrucing Brokers should offer a better server than large discount brokers. This comes at a cost. APEX offers execution at $ 1.99 per side. You need to add exchange and regulatory fees. For a halfturn you would pay

for ES: $ 1.99 + $ 1.14 (exchange fee) + $ 0.02 (regulatory fee) = $ 3.15
for CL: $ 1.99 + $ 1.45 (exchange fee) + $ 0.02 (regulatory fee) = $ 3.46

Just a comparison for half turn execution cost for ES (including exchange and regulatory fess as advertised on their websites)

-> Velocity $ 1.76
-> LightSpeed $ 1.76
-> Interactive Brokers $ 2.01
-> Advantage Futures $ 2.15
-> TradeStation Securities $ 2.36
-> Apex Futures $ 3.15
-> Mirus Futures $ 3.26

Other brokers such as Infinity Futures or Amp Futures do not advertise commissions, you have to negociate them.

However you can expect a superior service from an introducing broker, which should translate to a better availability, when you have a problem. So you have to find out, whether you need the service and pay for it, or whether you use a low commission broker and accept limited service.

I would at least try to neogciate the rates with APEX, because they are expensive.

For further information you can have a look at the 2010 broker ranking (Futures Magazine December 2010 issue), the reader's choice awards (Technical Analysis of Stocks and Commodities, 2011 Special Trader's Issue) or the Broker evaluation on the EliteTrader forum.


To be fair, any FCM that accepts accounts the same size as the IB should be able to provide you with the same service. I know mine can

If you have any questions about our services at Velocity Futures please send me a private message.
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  #9 (permalink)
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Fat Tails View Post

Just a comparison for half turn execution cost for ES (including exchange and regulatory fess as advertised on their websites)

-> Velocity $ 1.76
-> LightSpeed $ 1.76
-> Interactive Brokers $ 2.01
-> Advantage Futures $ 2.15
-> TradeStation Securities $ 2.36
-> Apex Futures $ 3.15
-> Mirus Futures $ 3.26

Other brokers such as Infinity Futures or Amp Futures do not advertise commissions, you have to negociate them.
.

@Fat Tails, you should correct your numbers for Velocity... NinjaTrader Comms are $1.91 per side... and FIX Adapter are $1.81 per side... you are quoting X-Trader...

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  #10 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
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sysot1t View Post
@Fat Tails, you should correct your numbers for Velocity... NinjaTrader Comms are $1.91 per side... and FIX Adapter are $1.81 per side... you are quoting X-Trader...

Thanks for correcting me, I had only quickly taken the figures from the websites. But I aabsolutely gree that we should compare apples to apples.

In the end I would not mind paying $ 2.00 per side, if the service level (availability, safety of funds) justifies it. The main conclusion is that $ 3.00 per side and contract is too much and can certainly be negotiated.

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