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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.
Can you help answer these questions from other members on NexusFi?
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
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.
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.
