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Cheapest futures brokers?
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Cheapest futures brokers?

  #1 (permalink)
Buenos Aires Argentina
 
Trading Experience: None
Platform: Ninjatrader
Favorite Futures: E mini ES
 
Posts: 20 since Mar 2018
Thanks: 0 given, 0 received

Cheapest futures brokers?

I am looking for information about the cheapest futures broker out there.

I know about amp futures, but I would like to know if there are other brokers similar to this one regarding to costs.

Thank you.

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  #2 (permalink)
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  #3 (permalink)
North Carolina
 
Trading Experience: Beginner
Platform: NinjaTrader, Tradestation
Favorite Futures: es
 
Posts: 659 since Nov 2011
Thanks: 285 given, 816 received


Tradovate has some interesting commission free prepaid plans. AMP can do custom plans too. You can probably work out a custom arrangement with many brokers if you do enough volume.

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  #4 (permalink)
Ocala, Florida
 
Trading Experience: Advanced
Platform: NT7 NT8 MT5 Sierra Charts
Broker/Data: not applicable
Favorite Futures: Indices, Currencies, Energies, Metals
 
Onisowo's Avatar
 
Posts: 104 since Jan 2019
Thanks: 69 given, 39 received

.59 cents per side

Generictrade

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  #5 (permalink)
Ontario, Canada
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus Futures
Favorite Futures: NQ, 6E
 
Posts: 7 since Jun 2009
Thanks: 20 given, 2 received

Interactive Brokers.

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  #6 (permalink)
Legendary Market Wizard
Houston, TX
 
Trading Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,917 since Dec 2013
Thanks: 2,353 given, 5,210 received

Broker Commissions are a function of
  • Service - You do get what you pay for, you might not think is that important but you will when you have a problem
  • Volume - obvious
  • Margin Requirements / Do you hold positions overnight? - If you hold positions overnight the broker needs to have equity in addition to your margin. That equity costs and the broker wants a return on it
Finally the cheapest brokers probably don't include software and data. When you calculate what its costing you to trade make sure you include software and data costs - could change the picture!

If you trade 500+ lots/day, you can get it for less than 10c.
https://www.advantagefutures.com/open-an-account/commissions/

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The following 4 users say Thank You to SMCJB for this post:
 
  #7 (permalink)
Los Angeles, CA /USA
 
Trading Experience: Master
Platform: Sierra, CQG, Gain, Transa
Favorite Futures: Crude Oil
 
CannonTrading's Avatar
 
Posts: 110 since Mar 2013
Thanks: 27 given, 66 received


SMCJB View Post
Broker Commissions are a function of
  • Service - You do get what you pay for, you might not think is that important but you will when you have a problem
  • Volume - obvious
  • Margin Requirements / Do you hold positions overnight? - If you hold positions overnight the broker needs to have equity in addition to your margin. That equity costs and the broker wants a return on it
Finally the cheapest brokers probably don't include software and data. When you calculate what its costing you to trade make sure you include software and data costs - could change the picture!

If you trade 500+ lots/day, you can get it for less than 10c.
https://www.advantagefutures.com/open-an-account/commissions/

Nail of the head with this one. Here at Cannon Trading we can match or beat any commission quote dependent on volume, platform, etc.

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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  #8 (permalink)
Legendary Market Wizard
Boca Raton
 
Trading Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,367 since Sep 2010
Thanks: 2,302 given, 3,407 received


SMCJB View Post
Broker Commissions are a function of
  • Service - You do get what you pay for, you might not think is that important but you will when you have a problem
  • Volume - obvious
  • Margin Requirements / Do you hold positions overnight? - If you hold positions overnight the broker needs to have equity in addition to your margin. That equity costs and the broker wants a return on it
Finally the cheapest brokers probably don't include software and data. When you calculate what its costing you to trade make sure you include software and data costs - could change the picture!

If you trade 500+ lots/day, you can get it for less than 10c.
https://www.advantagefutures.com/open-an-account/commissions/

A few weeks ago I went to their offices in Chicago. Great guys. We opened a clearing relationship with them a while back and will use them for extremely active and tech-savvy guys with special needs. It seems to be their specialty.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

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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  #9 (permalink)
Tallinn Estonia
 
Trading Experience: Master
Platform: MT5,MT4
Broker/Data: FP markets
Favorite Futures: Forex
 
Posts: 42 since Dec 2018
Thanks: 4 given, 46 received

No Software No Big Building

Cheap are the one not spending big money for software and big buildings and to many employees/offices.
The one not wasting money for commercials !

CFDs are much cheaper (if you are not in the US) . The best Broker is a ECN Broker with MT5 (not so overloaded like NT/TS ) and only regulated from one Authority (which is not on an Island with less than 200000 people) with a Leverage of 1:500
( possible in Australia) . The cheapest/best Software is the one which is testet/used most often and not written in Java (my own experience )

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The following user says Thank You to carofa for this post:
 
  #10 (permalink)
Orlando, Florida United States
 
Trading Experience: Intermediate
Platform: MultiCharts
Favorite Futures: ES
 
Posts: 8 since Nov 2010
Thanks: 5 given, 2 received

Brokers


Hello to everyone,

The CME states that electronic trading is instantaneous, and that is true. When the mouse is clicked to send in an order --- it moves at the speed of light.
The CME also states that when an order is sent in, it will be filled at the close of price as soon as the order is received. Not every broker seems to be able to do this. When a Trader receives a "fill" it is a good idea to see when the "fill" amount shows up in the price bars. With some brokers there may be a considerable delay before the market finally reaches the "fill" amount. There have been occasions when I received a "fill" that was so far from the orders close that the market turned and went the other way without ever reaching the "fill" amount. The broker called that "slippage".

When a Trader is looking for a broker, it is better to find a broker that can make fast "fills", rather than one that has the cheapest commission.

Regards,
WCwings

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