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Is this still available/effective ? Anybody got this with IB as an individual ?
With which broker can you set this up easily ?
right now exchange fees for Es futures (CME Globex) on IB is at 1.14USD per contract and is not tiered (unless you get on an incentive program for hedge funds and prop firm).
This is way less and would be great for my purposes.
Interactive Brokers ES commissions now (Non-Members Tier I) Fixed 1.14 CME Fee + 0.85 Cost Plus Fixed + 0.02 Regulatory Fees = $2.01 x contract
You can change the Cost Plus Fixed (0.85) part if you trade more than 1,000 contracts/month with Tiered:
1,001-10,000 Contracts = 0.65 = $1.81 x contract
10,001-20,000 Contract = 0.45 = $1.61 x contract
>20,000 Contract = 0.25 = $1.41 x contract
Thanks. Yes I was aware of the IB fee structure and the tiered options on the broker side. But wanted to know how easy as an individual it is to lower the commission further on the exchange (CME) side with the above CME fee reduction and if anyone is on it right now.
IB dont mention this anywhere. Maybe other brokers are more forthcoming in helping you get such reduction.
I pay $3.50 a rt, regardless of volume. When I'm trading more heavily (more than 200/day) I know I can get a rate elsewhere for about $3.40 or less, but when I trade less I'd be paying a lot more. At IB according to their tiered system I'd have to trade about 10,000 sides/mo to average $3.50.
Why don't you have a seat at the exchange, and save yourself a few thousand a month?
Mike
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