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CME Fee changes 2014, significant impact
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CME Fee changes 2014, significant impact

  #131 (permalink)
Elite Member
Harrisburg, PA
 
Futures Experience: Intermediate
Platform: Sierra Chart,TradeStation
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pedalon's Avatar
 
Posts: 23 since Apr 2013
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TradeStation Update

I just called in and talked to TradeStation. I was informed that as of now, they are not aware of any changes in fees for their customers. However, they really couldn't give me any clear answers on anything pertaining to the CME fee changes. It's like they aren't even aware of them. For me, I have 3 options, wait and see what happens in January, drop the LLC account or just move funds to my Forex account and close the Futures account.

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  #132 (permalink)
Elite Member
Hawaii
 
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Broker/Data: CQG
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neko333's Avatar
 
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Could someone please clarify. If trading 3 products: GC, CL & Index futures under a General Partnership that would be $85/per exchange each month. So $255/month in fees + $15/month + around .05/contract additional commissions. Obviously this is not a dream come true but whats the big deal here for any reasonable sized account? So aside from the additional ~.05 commissions it would be roughly $3,240/year in fees. What am I missing if anything? Maybe a profitable trader should be focusing on adding an additional contract in size that likely could have been added a long time ago.

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  #133 (permalink)
Site Administrator
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neko333 View Post
Could someone please clarify. If trading 3 products: GC, CL & Index futures under a General Partnership that would be $85/per exchange each month. So $255/month in fees + $15/month + around .05/contract additional commissions. Obviously this is not a dream come true but whats the big deal here for any reasonable sized account? So aside from the additional ~.05 commissions it would be roughly $3,240/year in fees. What am I missing if anything? Maybe a profitable trader should be focusing on adding an additional contract in size that likely could have been added a long time ago.

The big deal is about LLC's.... this has been stated a few times now. $2,000 a year isn't going to make a break anyone, but $25k a year in fees that didn't exist yesterday starts to leave a mark.

Mike

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  #134 (permalink)
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Big Mike View Post
The big deal is about LLC's.... this has been stated a few times now. $2,000 a year isn't going to make a break anyone, but $25k a year in fees that didn't exist yesterday starts to leave a mark.

Mike

How did u come up with that figure - 25k? Whatre u paying for if u dont mind me asking, that seems absurdly high

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  #135 (permalink)
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Itchymoku View Post
How did u come up with that figure - 25k? Whatre u paying for if u dont mind me asking, that seems absurdly high

That was the original math based on being charged per platform, per broker, per exchange as a professional. The new math is just per broker, per exchange as a professional regardless the number of platforms. So it is about 8k a year -- if -- what is being said today remains true. At this point it is changing almost every day it would seem.

Mike

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  #136 (permalink)
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Big Mike View Post
That was the original math based on being charged per platform, per broker, per exchange as a professional. The new math is just per broker, per exchange as a professional regardless the number of platforms. So it is about 8k a year -- if -- what is being said today remains true. At this point it is changing almost every day it would seem.

Mike

Ru planning on just using your own platform with one broker and exchange and maybe a back up? Or is it crucial to have access to them all to keep up with the forum? Sorry Im confused why you need them all?

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  #137 (permalink)
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Itchymoku View Post
Ru planning on just using your own platform with one broker and exchange and maybe a back up? Or is it crucial to have access to them all to keep up with the forum? Sorry Im confused why you need them all?

Yes, I need/want/demand more than one brokerage account.

I have had multiple accounts for years and have diversified my funds in this way across multiple brokers. There are advantages. Besides, I have gotten used to doing things a certain way -- swings in one account, day trades in another for example.

The number of platforms no longer has anything to do with it as I posted about a few days ago.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #138 (permalink)
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Big Mike View Post
Yes, I need/want/demand more than one brokerage account.

I have had multiple accounts for years and have diversified my funds in this way across multiple brokers. There are advantages. Besides, I have gotten used to doing things a certain way -- swings in one account, day trades in another for example.

The number of platforms no longer has anything to do with it as I posted about a few days ago.

Mike

In a perfect world, you out of all people should be exempt from these outrageously high fees due to the simple fact that you provide help to countless traders through this website in regards to choosing brokers, data feeds, exchanges, and platforms. Not to mention your forum probably generates revenue to the CME by simply letting people make journals and become better futures traders.

sorry if I missed this, but does developing your own platform give you any perks in regards to the fees?


Last edited by Itchymoku; December 11th, 2013 at 02:59 AM.
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  #139 (permalink)
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Itchymoku View Post
sorry if I missed this, but does developing your own platform give you any perks in regards to the fees?

I can't think of any.

Sent from my LG Optimus G Pro

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #140 (permalink)
Elite Member
Hawaii
 
Futures Experience: None
Platform: NinjaTrader
Broker/Data: CQG
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neko333's Avatar
 
Posts: 80 since Aug 2010
Thanks: 103 given, 33 received


For futures trading I use only Mirus and in a conversation with them was quoted $85 per exchange and the $15/month fee + ~.05 commissions extra. So considering I'm trading GC, CL & Index Futures this is around $270/month in fees besides the additional commissions. As a General Partnership I'm told it would be classified the same as an LLC so all these quotes are based on professional status. Still though only works out to several thousand a year in fees and a little more in commissions.

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