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Recommended discount brokers that don't eat your profits with all the fricken fees!!
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Recommended discount brokers that don't eat your profits with all the fricken fees!!

  #1 (permalink)
Gulf Coast Tracy
Pass Christian, MS
 
Futures Experience: Intermediate
Platform: ninjatrader
Favorite Futures: Emini Scalper
 
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Posts: 40 since Nov 2012
Thanks: 12 given, 2 received

Recommended discount brokers that don't eat your profits with all the fricken fees!!

I just went live on ES...saw my nightly statement and I couldnt believe all the fees??? I thought Mirus' commissions include exchange fees. So I had commission, clearing fees and exchange fees that was about 50% of my profit. I suppose I could write these off.

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Lehrte, Germany
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: PTP / Rithmic
Favorite Futures: NQ
 
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Posts: 1,159 since Sep 2011
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Well, that depends on how many contracts / RT per month you're trading.

You can always talk to them and ask for better conditions if you're making a certain turnover per month...

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  #4 (permalink)
Elite Member
Luxembourg
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB / Kinetick
Favorite Futures: ZN
 
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Posts: 482 since Apr 2012
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I trade through Interactive Brokers, and I use Ninjatrader as my trading platform together with Kinetick for my unfiltered live data feed.

It costs me 50$ per month (fixed fee); and then I pay 2.01$ per contract for the E-mini S&P500 (ES @ GLOBEX)

I receive the unfiltered data feed for these exchanges in fact: GLOBEX, ECBOT, NYMEX, and COMEX; plus a bundle of other basic news, fundamentals, market metrics, and delayed equity quotes...

This is due to the fact that the CME group has a waiver program for anybody connecting an Interactive Broker account with a Kinetick feed. Otherwise, as you say... it could sum up real quick!

My initial investment was 995$ to buy a lifetime license for NT7, but you can lease the software as well if you prefer...
I see that you already trade through NT, so I guess you at least have this part sorted out

Successful people will do what unsuccessful people won't or can't do!
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  #5 (permalink)
Elite Member
@ Germany
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: FDAX
 
Posts: 448 since Nov 2011
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tracy View Post
I just went live on ES...saw my nightly statement and I couldnt believe all the fees??? I thought Mirus' commissions include exchange fees. So I had commission, clearing fees and exchange fees that was about 50% of my profit. I suppose I could write these off.

If you are going live with your broker of choice and doesn't know the applied fees in advance you should stop trading immediately. You haven't made your homework - sounds hard, but this is the truth. Furthermore if you are surprised that your edge dissolved with the applied fees and commissions then you should backtest your strategy with fees, commissions and slippage again. Then you can decide if trading live is worth it.

Good luck,
Koepisch

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  #6 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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Posts: 2,139 since Sep 2010
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I often get phone calls from prospects who shop around for rate, and that is 100% legit.
So when I quote the commissions, some respond by saying they pay half than that which floors me, at times they claim they pay even below exchange. Naturally, they don't know the reality of what they pay.

When you ask for commissions, you want ALL IN RATE: Buy, Sell, Exchange, Connectivity.
This is how I quote it.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #7 (permalink)
Elite Member
Nuremberg, Germany
 
Futures Experience: None
Platform: MultiCharts
Favorite Futures: Fx
 
Posts: 49 since Jun 2010
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tracy View Post
I just went live on ES...saw my nightly statement and I couldnt believe all the fees??? I thought Mirus' commissions include exchange fees. So I had commission, clearing fees and exchange fees that was about 50% of my profit. I suppose I could write these off.

No offence, but all fees are clearly shown on the webpage of mirus.

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  #8 (permalink)
Elite Member
Baltimore, Maryland, USA
 
Futures Experience: Advanced
Platform: Ninja Trader, TOS
Favorite Futures: Futures, Options
 
Posts: 3 since Jan 2013
Thanks: 0 given, 1 received

Discount brokers fees

Think or Swim (TOS) charges a flat fee of $5.00 round trip per contract.

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  #9 (permalink)
Elite Member
Alexandria+MN
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: Emini
 
Posts: 65 since Oct 2009
Thanks: 128 given, 110 received

Deep Discount Trading Deep Discount Futures Trading = .50 Cents Per Side + Fees

OR

Interactive Brokers

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  #10 (permalink)
Elite Member
Tampere/Finland
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: ES, Currency Futures, Forex, oil, gold
 
gigibastar's Avatar
 
Posts: 60 since Jan 2013
Thanks: 20 given, 66 received



cbratton View Post
Deep Discount Trading Deep Discount Futures Trading = .50 Cents Per Side + Fees

OR

Interactive Brokers


deepdiscounttrading.com it doesn't have any encryption on the registration page ( Open an Individual Account | Crossland LLC Website )
All the sensitive information with travel in clear, plain text over the internet

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