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FCM/Broker Comparison
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Created: by sysot1t Attachments:3

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FCM/Broker Comparison

  #1 (permalink)
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FCM/Broker Comparison

I have noticed a few threads posting and asking about lowest cost brokers, which brokers are better, etc.

Having gone myself through the exercise of comparing brokers recently; I think it might be useful for others to leverage on their decision making process, some of the research I have performed and save time that way.

I am attaching a commission comparison for TF, NQ, CL, YM, ES and 6E. I trade equities and options as well, and as such I figure I include that info in the event you do.

I am also including a comparison based on Dec 2009 data from CFTC on what I will call "broker/FCM financial strength and customer base size in terms of funds deposited"; I like to know how well capitalized my broker and clearing house are, and how many people are "banking" with them.

I have learned and benefited a lot from this forum and some of their participants over the past two months, I hope you can benefit from this info as well.

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Attached Thumbnails
FCM/Broker Comparison-fcm-cmp.png  

Last edited by sysot1t; February 22nd, 2010 at 11:32 AM.
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  #3 (permalink)
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I added Velocity Futures, if you have other brokers for which you have pricing, feel free to post and I can add it to the list for comparison as well.

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sysot1t, thanks for these.

Too bad there isn't a column for average commission for popular instruments, and a column for average hold time on phone, and a column for customer review/grade... then it would be a complete list

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Big Mike View Post
sysot1t, thanks for these.

Too bad there isn't a column for average commission for popular instruments, and a column for average hold time on phone, and a column for customer review/grade... then it would be a complete list

Mike

I have found that lower commissions are usually commensurate with lower customer service… at the same time, I rarely call customer service myself, but I certainly agree it would add value for others; I guess it all depends on what one would consider customer service. I will see if there is a way to create polls on the forum and gather some ratings to add.

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  #6 (permalink)
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i think some might find this artcile from futuresmag of interest. it ranks the top 50 brokers.

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FCM/Broker Comparison-top50_brokers_2009.pdf  
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  #7 (permalink)
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sysot1t

Thanks for the comparision chart. I just want to point out 1 thing for IB. The rate you posted for IB is bundle rate, and I doubt it anyone who did the math between bundle and unbundle rate will ever use bundle rate.

For ES, which I trade, the unbundle rate is $4.70 RT for the first 300 contracts (150 RT), then dropped to $4.30 RT for the next 700 contracts. Then from 1001 to 10k contracts on, it's $3.8 RT.

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  #8 (permalink)
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Toronto/Ontario
 
Futures Experience: Intermediate
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What is the day trading margin for /ES, /CL, 6B on IB?

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  #9 (permalink)
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I have a similar question, but on TransActFutures.

With a deposit capital of $6,000, what should be my DAILY LOSS LIMIT for 6E, GC, YM, and NQ on TransActFutures ?

Lolu

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  #10 (permalink)
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So you have 1 similar question to which one?

And to your second question, it is up to your style and tolerance to lose, as well as your strategy as a whole.

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