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List of Broker's "all in" Hang Seng Index Roundtrip Futures Commisions
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List of Broker's "all in" Hang Seng Index Roundtrip Futures Commisions

  #1 (permalink)
Elite Member
Denver, Co
 
Futures Experience: Advanced
Platform: Sierra Chart
Favorite Futures: HSI
 
Posts: 11 since Oct 2011
Thanks: 1 given, 1 received

List of Broker's "all in" Hang Seng Index Roundtrip Futures Commisions

Does anybody have a list of Brokers with their standard “all in” roundtrip Hang Seng futures commissions and if they charge for real time data? I have been spending hours searching the internet and a couple other trading forums looking for an answer to this simple question. Many broker's web sites give some commission information but don't include all fees, etc....and others say to “call us” for a quote. It seems to be a rather mysterious, closely guarded secret for many brokers.


Here is my dilemma. I have developed a scalping system that is profitable. However, commissions and slippage take over 50% of my gross gains. I can't do anything about slippage (which occurs on my losing trades when my stoploss order is hit)....but, commissions are different. I currently trade through Interactive Brokers and I trade the Hang Seng Index futures (.HSI) in the evening since I work during the day. My trading platform is Sierra Chart so I pay for the software, but not the data feed since IB provides it for free (if you trade a small amount per month). So, I am simply trying to lower my per trade commission expense since it takes such a large bite out of my scalping system gains. I place about 20 roundtrip trades (i.e., 40 trades) per week and saving just $1 per contract is a big help.


The “all in” roundtrip commission for trading one Hang Seng Index future at Interactive Brokers is 60 Hong Kong Dollars...which currently equates to $7.72. Anybody have a list of total "all in" roundtrip commissions and data feed cost for brokers that offer access to the Hang Seng futures? Any help is appreciated. Thanks...

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  #2 (permalink)
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  #3 (permalink)
Elite Member
new york
 
Futures Experience: Beginner
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IB is charging 38.2 HKD RT, not 60 HKD.

You need to use tier pricing.

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  #4 (permalink)
Elite Member
Denver, Co
 
Futures Experience: Advanced
Platform: Sierra Chart
Favorite Futures: HSI
 
Posts: 11 since Oct 2011
Thanks: 1 given, 1 received

This is actually hugh (important) news to me! I know that they use bundled vs unbundled futures pricing. But, I have never heard of Tier Pricing. I will log in to IB today and see if I can find the Tier Pricing and definitely change to that! Thanks...

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  #5 (permalink)
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Miami, FL
 
Futures Experience: Advanced
Platform: NT
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any updates to this?

Does IB still provide the Hang Seng futures feed for free? what about Kinetick and iQfeed? thanks

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  #6 (permalink)
Elite Member
Chicago, Il
 
Futures Experience: Master
Platform: NT, CQG, Bloomberg
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No, you cannot get Hang Seng Futures data from Kinetick or IQ feed.

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  #7 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
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absorrel4 View Post
Does anybody have a list of Brokers with their standard “all in” roundtrip Hang Seng futures commissions and if they charge for real time data? I have been spending hours searching the internet and a couple other trading forums looking for an answer to this simple question. Many broker's web sites give some commission information but don't include all fees, etc....and others say to “call us” for a quote. It seems to be a rather mysterious, closely guarded secret for many brokers. ..

Yes, while some may ask you to call to check your negotiations skills, and/or the number of round turns you are doing to give you fair pricing, there is some issue over some foreign futures. Your commissions depends on the platforms, and the FCM. Broker may or may not go via an intermediary besides their FCMs, and that may add a cost.

I find that getting with the customer on the phone is always the best solution. You get to have a decent conversation time wise to find the right match, commissions and platform.

Thanks,
Matt

There is a risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.

Last edited by mattz; May 16th, 2015 at 05:04 PM.
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