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dtn iqfeed discount
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dtn iqfeed discount

  #1 (permalink)
Elite Member
Rochester, MI/USA
 
Futures Experience: Beginner
Platform: NT8
Broker/Data: NT8, IB, AMP
Favorite Futures: ES, CL, FX Fut
 
Posts: 8 since May 2017
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dtn iqfeed discount

please warn new users that the iqfeed promotion is a data provider that cannot route orders

just spent a better part of yesterday trying to convince a broker to approve a non-pro cme waiver with iqfeed

come to find out dtn cannot route my orders and i'll need to cancel requests with them and my platform provider and restart the process with cqg

not a huge deal but all of it wasnt really necessary neither

thank you

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  #2 (permalink)
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  #3 (permalink)
IQFeed Dave
Omaha Nebraska, USA
 
Futures Experience: Intermediate
Platform: Sierra Chart Ninja
Broker/Data: IQFeed
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IQFeed is a data feed

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This post has been selected as an answer to the original posters question Answer


Correct...IQFeed does not route orders. IQFeed is strictly a data feed. We feed our data into over 80 commercially sold software programs like - Ninja Trader, Sierra Charts, Multicharts, etc. These software programs that we feed our data into DO have the capability of placing trades with many brokers. As far as the Globex Non-professional Globex exchange fee waiver program goes...it is a very simple, no-cost, procedure for the broker to become qualified. Send them to me I will help them.

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  #4 (permalink)
Elite Member
Rochester, MI/USA
 
Futures Experience: Beginner
Platform: NT8
Broker/Data: NT8, IB, AMP
Favorite Futures: ES, CL, FX Fut
 
Posts: 8 since May 2017
Thanks: 3 given, 5 received


IQFeed Dave View Post
Correct...IQFeed does not route orders. IQFeed is strictly a data feed. We feed our data into over 80 commercially sold software programs like - Ninja Trader, Sierra Charts, Multicharts, etc. These software programs that we feed our data into DO have the capability of placing trades with many brokers. As far as the Globex Non-professional Globex exchange fee waiver program goes...it is a very simple, no-cost, procedure for the broker to become qualified. Send them to me I will help them.

Thank you Dave

fwiw you guys do a great job

simply attempting to groom a key detail for newer retail traders like myself that do not understand which provider nuance belongs to whom, not updating the futures.io discount list can basically help to waste valuable setup time with a broker so hopefully an asterisk or some type of definition can be applied to that futures.io discount page for your services

tbh im really bummed, the trial feed is working great but im not in a position to take advantage of it quite yet,
time will tell

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  #5 (permalink)
Elite Member
Zurich
 
Futures Experience: Advanced
Platform: IB
Favorite Futures: Futures
 
Posts: 16 since Jun 2011
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IQFeed Dave View Post
Correct...IQFeed does not route orders. IQFeed is strictly a data feed. We feed our data into over 80 commercially sold software programs like - Ninja Trader, Sierra Charts, Multicharts, etc. These software programs that we feed our data into DO have the capability of placing trades with many brokers. As far as the Globex Non-professional Globex exchange fee waiver program goes...it is a very simple, no-cost, procedure for the broker to become qualified. Send them to me I will help them.




I personally do not see what the 20 usd fee called "RT US Futures Entitlement" is for?

What is level 2 (also 20usd)? Is that not real time?

What about the non-pro exchange fees? Are those not real time?

NO other data provider want to squeeze the fee that I have never heard of out of customers....

Its a real turn off.

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  #6 (permalink)
Elite Member
Wiltshire, United Kingdom
 
Futures Experience: Beginner
Platform: Tradovate, Jigsaw Tools
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swisstrader321 View Post
What is level 2 (also 20usd)? Is that not real time?

What about the non-pro exchange fees? Are those not real time?

NO other data provider want to squeeze the fee that I have never heard of out of customers....

Level2 data provides extra order book on your DOM (or liquidity chart such as Bookmap or Jigsaw Vista). Traditionally this was ten layers of order depth up and down from the inside bid/offer, but some exchanges now have extended depth for products, such as Crude oil where you can now see a lot further out. Not sure whether it is the full book or 100 levels or so but multiples of the original either way. Without Level2 you only have visible the inside bid/offer.

DTN IQFeed is a data fee provider not a broker, as the original poster was confused about. Therefore you have to pay for data. Non pro exchange fees are the fees you pay if not a pro, criteria specified by the exchange, in the same way your broker, if you have one, and every broker; asks you/have asked you to declare whether you are pro or non-pro when you subscribe to the exchange feeds you want data for. The non-pro exchange fee waiver program is for people using DTN IQFeed who have a brokerage account and are already paying for data so they get a discount as they are subscribing for the same data twice. Non-pros don't get the exchange fee waiver on the extra data feed.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger

Last edited by matthew28; June 14th, 2018 at 04:00 AM.
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  #7 (permalink)
Elite Member
Zurich
 
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matthew28 View Post
Level2 data provides extra order book on your DOM (or liquidity chart such as Bookmap or Jigsaw Vista). Traditionally this was ten layers of order depth up and down from the inside bid/offer, but some exchanges now have extended depth for products, such as Crude oil where you can now see a lot further out. Not sure whether it is the full book or 100 levels or so but multiples of the original either way. Without Level2 you only have visible the inside bid/offer.

DTN IQFeed is a data fee provider not a broker, as the original poster was confused about. Therefore you have to pay for data. Non pro exchange fees are the fees you pay if not a pro, criteria specified by the exchange, in the same way your broker, if you have one, and every broker; asks you/have asked you to declare whether you are pro or non-pro when you subscribe to the exchange feeds you want data for. The non-pro exchange fee waiver program is for people using DTN IQFeed who have a brokerage account and are already paying for data so they get a discount as they are subscribing for the same data twice. Non-pros don't get the exchange fee waiver on the extra data feed.



Maybe reading comprehension isn't your strong point. I said "I personally do not see what the 20 usd fee called "RT US Futures Entitlement" is for?"

RT stands for real time. So DTN is charging 20usd for REAL TIME Entitlement which should be included in either market depth or non-pro exchange fees. The reason we pay for market depth or non-pro exchange fees is ....because we want real time data...



Read the first sentence again that I wrote .... "

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  #8 (permalink)
Trading for Fun
Austria
 
Futures Experience: Intermediate
Platform: TradeNavigator
Favorite Futures: ES, CL, GC, 6E
 
Posts: 96 since Jan 2017
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Courtesy seems not to be your strong point.


He tried to help you.

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  #9 (permalink)
Elite Member
Zurich
 
Futures Experience: Advanced
Platform: IB
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Posts: 16 since Jun 2011
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tr8er View Post
Courtesy seems not to be your strong point.


He tried to help you.

Yeah well I read his response before he edited it out. He didn't try to help. He stated that he doubted I had any trading experience based on me not knowing what level 2 or non-pro cme fees are.

If he would have actually read my question about what exactly....RT US Futures Entitlement actually means, and my question had nothing to do with level 2 or non-pro fees are.

Ive contacted IQ Feed and they have yet to give me an answer besides "it's like cable, you add on fees after the basic service"....BUT what is the basic service fee of 80usd if it isn't to receive REAL TIME quotes?


Last edited by swisstrader321; June 14th, 2018 at 09:32 AM. Reason: grammar
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  #10 (permalink)
IQFeed Dave
Omaha Nebraska, USA
 
Futures Experience: Intermediate
Platform: Sierra Chart Ninja
Broker/Data: IQFeed
Favorite Futures: ES NQ RTY
 
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Posts: 7 since Sep 2015
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Answers to questions about IQFeed



swisstrader321 View Post
I personally do not see what the 20 usd fee called "RT US Futures Entitlement" is for?

IQFEED Answer to question 1 - IQFeed is our base service. The IQFeed base service is needed in order to receive ANY data from us. If you ONLY subscribed to the $82/month base iQFeed service, and didn’t add anything to it like real-time data, then you’d be receiving delayed stocks and delayed futures data, historical stocks and historical futures (historical data in most cases includes 180 days of tick history, about 10 years of minute and 20 years of daily history). 4 real-time news feeds are included in the base IQFeed service (including Benzinga Pro). You’ll have access to our 800+ calculated market breadth indicators (including TICK and TRIN), our 24 hour free tech support (via toll free phone, email, online chat), and the ability to simultaneously feed 500 symbols into any one or several at once of the 80+ compatible software programs.

It obviously takes a lot more resources, infrastructure and exchange costs to provide real-time as opposed to delayed data. That is why we charge the $20/month extra fee when you bump up to real-time futures. In addition to our $20 fee the exchanges also impose monthly exchange fees for each exchange that you want in real-time.

What is level 2 (also 20usd)? Is that not real time?

IQFEED Answer to Question 2 - Level II is also know as Market Depth some call it the DOM (Depth of Market). It shows the quotes for the levels of bids and asks that are outside the current best bid and ask (known sometimes as Level I). Again this is an extra additional amount of data above the base service and that is why those that receive it are charged the extra $20/month fee. Level II data is ONLY available in real-time and only on exchanges that you have real-time data. In other words you must be getting real-time Level I data in order to add real-time level Ii data to any particular exchange.

What about the non-pro exchange fees? Are those not real time?

IQFEED Answer to Question3 - Yes, the non-pro exchange fees, also know as the Non-professional Active-Trader Globex (CBOT, CME, COMEX, NYMEX) Exchange Fee Waiver program, are exchange fees for real-time data that I referred to in the Answer to Question 1. The exchanges impose monthly exchange fees for their real-time data. With this Non-pro waiver those exchange fees are greatly reduced (from $111/month/exchange to $1/month/exchange).

NO other data provider want to squeeze the fee that I have never heard of out of customers....

IQFEED Answer to Question 4 - We are not trying to "squeeze" fees. Instead we are trying to make our pricing more closely fit the customer. By not bundling all the fees into a one-price-fits-all package ensures that only those wanting real-time futures or market depth are charged for it.

Its a real turn off.

IQFEED Answer to Question 5 - I apologize for our pricing structure being a turn off to you. But we felt that it would be an even bigger turn off for customers if we increased our price so that they had to pay for things they didn't want. We've found that most customers prefer to pick and choose what they do want.

Thank you for your time. If you have any further questions, please let me know.

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