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AMP CME charges?
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AMP CME charges?

  #11 (permalink)
Just a boy
Auckland, New Zealand
 
Futures Experience: Beginner
Platform: Sierra Chart
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pipandrun View Post
One can choose only one exchange, what i did and then itīs only 5$ monthly.
You had to fill an application form for that.
http://info.ampfutures.com/cme_nonpro_certification
Even i choosed only one exchange, they nevertheless charged 15$.
They told me, that they have changed it now.
Next month i will see....

Same here. AMP charged me $15 even though I had selected 1 exchange only. They have now corrected this.

At least this is better than NT Brokerage who charged me $5 even though they told me in December I would not be charged if I did not access the data at all during the month (which I didn't). They have now agreed to reverse this for giving incorrect advice, although credit has not come through yet. However I will have to pay $5pm from now on for the benefit of having a 'standby' broker and CME datafeed even if I do not access the CME feed at all. The alternative is to tell NT in advance of a month that I will not require the data and I will be unsubscribed - but that defeats the purpose of having a 'standby' broker, account, platform, datafeed ie because you never know when you will need it and you would first have to contact NT to get the subscription re-established.

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  #12 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
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Broker/Data: Optimus Futures, LLC
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My advice is to check the market or exchange you disabled the next day. If for example, you disabled the CBOT, check if the grains or the bond price come through. If they are, then you are not disabled and will be charged.
We try and disable ASAP unnecessary markets, but request the customers to check it as well.

Matt

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  #13 (permalink)
Banned: trolling
NYC + NY / USA
 
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It was not surprising that the exchanges' MBA's (automatons without conscience) thought to present some way of monetizing their popularity and capitalizing on another revenue stream.

This practice almost killed the Equity trading business, almost 10+ years ago, and unbeknownst to the CBOE, made it an easy migration over to the radically new basket exchange called Emini contract trading at the CME. That unexpected windfall and trading acceptance has fueled such tremendous growth at the CME and by sheer coincidence, the vast majority of basket trading vehicles (ETF's, iShares, and other basket synthetic securities).

Its only a matter of business savvy, choice, time and ill fortune should other exchanges follow suit and start to nuisance tax their trading public with monthly participation fees. Let's hope the ICE (Intercontinental Exchange) refuses to follow suit. Their ever popular Russell 2000 (and other high volume emini contracts) will face the same fate.

Has anyone noticed how competitive it is to return to Index Option, Equity Option, ETF Option and other Basket Option trading, not to mention the original Equity Option plays?

Just tune into any of the business channels, and listen to the commercials. Next thing you'll notice is you can throw out your (CME / IB / FCU) margin tables, and hold your option position until the markets prove you're right. Instead of waiting on Fibonacci 4 hour charts to catch a wave, just take a short position, and hold it for a few hours, or days or even weeks, and watch your trade ring in....

Competition is good... and in this case, its going to have its affect upon these nuisance fees...

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  #14 (permalink)
Elite Member
Houston, Texas
 
Futures Experience: Beginner
Platform: NinjaTrader
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learning0101's Avatar
 
Posts: 247 since Aug 2011
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my 2cents

For those concerned about the $15 fee, get a grip come back to reality! If $180 a year is bothering you then maybe trading is (be it sim or real) is not for you. I mean c'mon.
It is was it is!

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  #15 (permalink)
Trading for Fun
Nicosia, Cyprus
 
Futures Experience: Advanced
Platform: X_Trader Pro, TWS, CQG, Sierra Charts
Broker/Data: Interactive Brokers, Data: CQG, TTNEt
Favorite Futures: crude arbitrage, spreads, energy, grains
 
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ICE US charges $95 per user and doesn't offer a discounted non-pro subscription. Some brokers can escape this, others not. So, ICE has gone even further in that than CME.

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  #16 (permalink)
Banned: trolling
NYC + NY / USA
 
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Alphachase View Post
ICE US charges $95 per user and doesn't offer a discounted non-pro subscription. Some brokers can escape this, others not. So, ICE has gone even further in that than CME.

Not sure this has happened for US based accounts,

TF is an ICE product, and the response or outrage to this would be loud, and noticed, otherwise.

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  #17 (permalink)
Banned: trolling
NYC + NY / USA
 
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learning0101 View Post
For those concerned about the $15 fee, get a grip come back to reality! If $180 a year is bothering you then maybe trading is (be it sim or real) is not for you. I mean c'mon.
It is was it is!

I would ask for change back, from your 2 cents....

actually, it only starts with nuisance fees.

there are those of us who have multiple accounts, particularly for segregation of funds, and such. Logging into one's accoount through their trading application, just to check balances, or shift funds, incurs those trading fees. Quickly one realizes that having eight (8) accounts are no longer a sole $15 monthly tax, but eight times that tax, and each month too.

Either way to sunday, increasing operating expenses causes any business savvy trader to seek alternatives, and in so doing re-evaluate their business proposition. In this specific case, CME has done themselves a short sighted disservice in trying to capitalize off their retail public customer base.

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The following user says Thank You to kronie for this post:
 
  #18 (permalink)
Elite Member
Houston, Texas
 
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sorry bro


kronie View Post
I would ask for change back, from your 2 cents....

actually, it only starts with nuisance fees.

there are those of us who have multiple accounts, particularly for segregation of funds, and such. Logging into one's accoount through their trading application, just to check balances, or shift funds, incurs those trading fees. Quickly one realizes that having eight (8) accounts are no longer a sole $15 monthly tax, but eight times that tax, and each month too.

Either way to sunday, increasing operating expenses causes any business savvy trader to seek alternatives, and in so doing re-evaluate their business proposition. In this specific case, CME has done themselves a short sighted disservice in trying to capitalize off their retail public customer base.

Hi @kronie, you are absolutely correct and I did not look at it in this context.
However the point of my post was :
If you can't change it why gripe about it? Just deal! Where I come from it's called this crazy thing, LIFE!!


Last edited by learning0101; February 21st, 2015 at 09:27 AM.
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  #19 (permalink)
Market Wizard
Boca Raton
 
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kronie View Post
there are those of us who have multiple accounts, particularly for segregation of funds, and such. Logging into one's accoount through their trading application, just to check balances, or shift funds, incurs those trading fees.

You do not have to check your account via a trading application with 4 exchanges of the CME Group, rather just go to the FCM's portal to check your balance. So those accounts you do not trade through, you can disable your quotes.

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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  #20 (permalink)
Banned: trolling
NYC + NY / USA
 
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mattz View Post
You do not have to check your account via a trading application with 4 exchanges of the CME Group, rather just go to the FCM's portal to check your balance. So those accounts you do not trade through, you can disable your quotes.

Matt

@Matt

thanks, will look into that.

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I asked, because too many "one liners", and "simple minded ones", always think in one dimension, and have comments along the lines, of never understanding what I say, or comment. It would take another industry person, to have properly understood my comment.

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