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NinjaTrader Static DOM fees when trading CL Futures
I am considering purchasing Ninja Trader soon, but first I want to know for sure all the costs that will come with it.
I’m aware that there is a fee that I will have to pay to Trading Technologies if I want to place my orders through the Static SuperDOM.
I found the TT fees table that is in NT website: (I can't post the link as this is my first post)
However I can’t be sure how much is the fee when trading CL (Crude Oil Futures Contract) because of the note that is below that fees table:
“* Except where there are multiple contracts having substantially the same underlying product, in which case they royalty for the smallest contract shall be $0.10 and the royalty for the other contracts shall be increased proportionately based on the size of the contracts. For example, the royalty for the CME's E-Mini S&P 500 and E-Mini NASDAQ-100 products shall be $0.10 and the royalty for the CME's S&P 500 and NASDAQ-100 products shall be $0.50.”
I know that there is at least one smaller contract with the same underlying product as CL Futures (Crude Oil) which is QM (E-mini Crude Oil).
Thus, reading the mentioned note above, I thought that I would have to pay $0.10 per contract / per side when trading QM and $0.20 per contract / per side when trading CL.
However, after some insistence NT Sales informed me that I would only pay $0.10 per contract / per side when trading CL.
Thus, my question is:
As my main trading instrument is almost exclusively CL Futures, could someone that is actually trading CL Futures through NT Static DOM please give me impartial information and tell me how much is exactly the TT fee per contract / per side for this instrument?
Thanks.
Can you help answer these questions from other members on NexusFi?
The TT fees for Static DOM are 10 cents per side. These fees are charged by TT and delivered to TT due to a patent they registered.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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I understand that the fees are due to the TT patent.
You are saying that the fees are 10 cents per side... But when we read the exceptions we can understand that amount is for the smallest contracts (QM?)...
Have you traded CL with the NT Static DOM and confirmed that they charge 10 cents?
X_Trader is for TT only. You can get it for "free" from Velocity Futures. This is like getting NinjaTrader for "free" from other brokers, there is actually a cost - it is embedded into the per-trade commissions. So you can compare commission costs with IB and decide how costly it is to use X_Trader vs using IB+NT+TT patent fees.
It is important to remember than X_Trader is not aimed at the typical retail market. You won't want to use it for charting for example, just for execution. This means you will need to also retain a separate charting platform.
If cost is a concern, you are not the target audience for X_Trader.
