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Commission question....
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Commission question....

  #1 (permalink)
Elite Member
vancouver, canada
 
Futures Experience: Beginner
Platform: NinjaTrader 6.5 and ZF Webtrader
Broker/Data: Mirus/Zen
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Commission question....

Can someone please tell me the general commission rules when you have a order that is not filled all at the same time? For example say you place an order to buy 10 contracts and get 5 filled, then 2 then 3. Do you pay commission for 1 or 3 trades? (I hope this makes sense) Does it vary broker to broker?

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  #2 (permalink)
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  #3 (permalink)
 Vendor: www.traderwerks.com 
Taipei Taiwan
 
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Contracts

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Brokers charge on the number of contracts. Trade 10 contracts, pay for10 contracts.

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  #4 (permalink)
Elite Member
Sweden
 
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tammyd549 View Post
Can someone please tell me the general commission rules when you have a order that is not filled all at the same time? For example say you place an order to buy 10 contracts and get 5 filled, then 2 then 3. Do you pay commission for 1 or 3 trades? (I hope this makes sense) Does it vary broker to broker?

You don't pay commission per order, you pay per filled contract, as someone pointed out. And no, this rule doesn't vary with broker, but the price per roundtrip certainly does.

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  #5 (permalink)
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jerry828 View Post
You don't pay commission per order, you pay per filled contract, as someone pointed out. And no, this rule doesn't vary with broker, but the price per roundtrip certainly does.

Some exchanges charge order fees on top of execution fees. You will also pay for cancelled or modified orders, if you do not execute. Paid, executed trades usually will give you a credit, which will be deducted from the order fees. This system is applied by some of the options exchanges, ECNs for trading stocks.

For futures you mostly only pay for executions. But here is an example (Interactive Brokers, EUREX) that shows that there are exceptions and that you may have to pay cancellation or modification fees:


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  #6 (permalink)
Elite Member
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Futures Experience: Beginner
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Thank you all, I realize now that this was a silly question.... goes to show I'm not quite ready to go live yet

Thanks again!

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  #7 (permalink)
Elite Member
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tammyd549 View Post
Thank you all, I realize now that this was a silly question.... goes to show I'm not quite ready to go live yet

Thanks again!

The question was not silly at all. Also you see that the answers given were not clear.

Usually you pay execution fees only, but sometimes there are also order fees!

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  #8 (permalink)
Market Wizard
Boca Raton
 
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tammyd549 View Post
Thank you all, I realize now that this was a silly question.... goes to show I'm not quite ready to go live yet

Thanks again!

It says on your bio that you are still on Ninja 6.5..if/when you go live make sure it's 7...soon to be 8.

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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