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Commission Commission Commission
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Commission Commission Commission

  #11 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,042 since Sep 2010
Thanks: 1,912 given, 2,750 received
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calhawk01 View Post
of course

NT is my platform, zenfire/ or rithmic are preferred data feeds, trading systems are fully automated and right now i'm trying to find a good fit for me as far as commission is concerned b/c i really dont want to be doing all the hard work.. only to make piles of commission for my broker.

mirus and optimus seemed like the choice for me as i want proximity hosting as well and they provide that service so it seems logical as far as "ease" is concerned

but their cost for a RT is almost 5$... per trade.. you make 5 trades and 5 of them go against you + commission... thats a pretty sh**y day, you know?

but discountbroker seems like a choice as well.. b/c their commissions are cheap.. however, (here's my question) when adding on hosting+paying for data feed+ platform fees (mirus and optimus offer free basic NT); is it worth to go to discountbroker ?

If you have not noticed, I am Matt from Optimus.
The figure of 5 per trade is incorrect. Maybe it's 5 Round Turn on some instruments, but on others like ES it could be around 4 Round Turn all in. Futures have a different cost associated with them depending on the category due to different cost coming from the exchange.

In defense of my competition you mentioned, even they don't charge 5 per trade.

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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  #12 (permalink)
Elite Member
Lubbock TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Stage 5 Trading
Favorite Futures: CL
 
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Posts: 1,879 since Jul 2009
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calhawk01 View Post
of course

NT is my platform, zenfire/ or rithmic are preferred data feeds, trading systems are fully automated and right now i'm trying to find a good fit for me as far as commission is concerned b/c i really dont want to be doing all the hard work.. only to make piles of commission for my broker.

mirus and optimus seemed like the choice for me as i want proximity hosting as well and they provide that service so it seems logical as far as "ease" is concerned

but their cost for a RT is almost 5$... per trade.. you make 5 trades and 5 of them go against you + commission... thats a pretty sh**y day, you know?

but discountbroker seems like a choice as well.. b/c their commissions are cheap.. however, (here's my question) when adding on hosting+paying for data feed+ platform fees (mirus and optimus offer free basic NT); is it worth to go to discountbroker ?

I'm going to make a comment that is a bit off topic but I think it is very appropriate. Even if you are paying $5 per round turn and are as concerned about it as you indicate, then I suggest your trading won't adequately pay for commission regardless what the commission is. IMO, paying commission is the least of the problems we face as traders.

Just to be clear, I'm not saying you should not try to get the best deal you can.

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  #13 (permalink)
Price Addict
New York / USA
 
Futures Experience: Intermediate
Platform: ninja/ custom
Favorite Futures: /cl /6e /gc
 
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Posts: 25 since Jun 2012
Thanks: 45 given, 12 received

Multi brokers


You are going to find out as well the more years your trading the more accounts with different brokers you will want. Diversify yourself. I have multiple accounts with multiple brokers. One goes bust, my money is still ok. History does usually repeat itself, play the safe side of things with this...

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  #14 (permalink)
Elite Member
baltimore marylnd
 
Futures Experience: Beginner
Platform: ninja
Favorite Futures: es
 
Posts: 69 since May 2013
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mattz View Post
If you have not noticed, I am Matt from Optimus.
The figure of 5 per trade is incorrect. Maybe it's 5 Round Turn on some instruments, but on others like ES it could be around 4 Round Turn all in. Futures have a different cost associated with them depending on the category due to different cost coming from the exchange.

In defense of my competition you mentioned, even they don't charge 5 per trade.

Matt

I was rounding.. i think it's 4 dollars and 50+ cents.. so i rounded it to 5$.. point i was making was that it is high. Sorry if you thought i was making any direct conclusions on the exact commission your company offers

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  #15 (permalink)
Elite Member
baltimore marylnd
 
Futures Experience: Beginner
Platform: ninja
Favorite Futures: es
 
Posts: 69 since May 2013
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MWinfrey View Post
I'm going to make a comment that is a bit off topic but I think it is very appropriate. Even if you are paying $5 per round turn and are as concerned about it as you indicate, then I suggest your trading won't adequately pay for commission regardless what the commission is. IMO, paying commission is the least of the problems we face as traders.

Just to be clear, I'm not saying you should not try to get the best deal you can.

I agree with you as far as finding the best deal. But commissions can eat away lots of profits on the long haul. They add up.. quickly. With that said, of course you want a system that can keep you floating even with high commission

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  #16 (permalink)
Elite Member
baltimore marylnd
 
Futures Experience: Beginner
Platform: ninja
Favorite Futures: es
 
Posts: 69 since May 2013
Thanks: 1 given, 6 received


Price Addict View Post
You are going to find out as well the more years your trading the more accounts with different brokers you will want. Diversify yourself. I have multiple accounts with multiple brokers. One goes bust, my money is still ok. History does usually repeat itself, play the safe side of things with this...

This is interesting, not my problem at the moment but will def keep this in mind for the future, thank you

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  #17 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,042 since Sep 2010
Thanks: 1,912 given, 2,750 received
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calhawk01 View Post
I was rounding.. i think it's 4 dollars and 50+ cents.. so i rounded it to 5$.. point i was making was that it is high. Sorry if you thought i was making any direct conclusions on the exact commission your company offers

You wrote in your comments it's 5 PER TRADE. This is not a rounding error.
You meant to say 2.50 per trade and 5 round turn.
2 Trades per 1 contract = 1 Round Turn

Many traders on this site have many years of experience, and they get to be very technical.
So don't feel like I am "chasing" you in order to keep correcting you specifically.
This is a public forum so I need to make sure we are all on the same page.

Please call us, and we would be more than happy to clarify any misunderstandings as far as the charges.

Thanks,

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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  #18 (permalink)
Elite Member
baltimore marylnd
 
Futures Experience: Beginner
Platform: ninja
Favorite Futures: es
 
Posts: 69 since May 2013
Thanks: 1 given, 6 received


mattz View Post
You wrote in your comments it's 5 PER TRADE. This is not a rounding error.
You meant to say 2.50 per trade and 5 round turn.
2 Trades per 1 contract = 1 Round Turn

Many traders on this site have many years of experience, and they get to be very technical.
So don't feel like I am "chasing" you in order to keep correcting you specifically.
This is a public forum so I need to make sure we are all on the same page.

Please call us, and we would be more than happy to clarify any misunderstandings as far as the charges.

Thanks,

Matt

you're right, i ment 1 round turn.

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  #19 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,150 received

Tip


Make certain you are comparing the all-in fee. For example, if a broker were to charge a "clearing fee" that other brokers do not, and it may not be extremely clear if they break it out separately from "commission".

Also get the all-in fees in writing. All-in means total deducted from your account, not just commission.

Last, always double check your statements carefully, examine all fees, and make sure you are receiving what you were quoted.




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  #20 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,042 since Sep 2010
Thanks: 1,912 given, 2,750 received
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Big Mike View Post
Tip


Make certain you are comparing the all-in fee. For example, if a broker were to charge a "clearing fee" that other brokers do not, and it may not be extremely clear if they break it out separately from "commission".

Also get the all-in fees in writing. All-in means total deducted from your account, not just commission.

Last, always double check your statements carefully, examine all fees, and make sure you are receiving what you were quoted.




Mike

I appreciate you bringing it up to the attention of the community.
It took me years (literary) to realize that my competitors only quote the commissions side without the clearing and connectivity and that way they always sound cheaper.

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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