I don't think anyone here is arguing against less commissions and fees. That said, I would hold off judgement until you get a Feb 1 (or later) daily statement. Personally, I don't trade micros very often. The more important issue is number of ticks needed for a NET breakeven trade, not the nominal dollar amounts. I too use AMP/SIERRA/CQG. I am up in the air regarding Teton... The CQG credentials are usable with many platforms, including Tradingview. There is value to having this access, which is lost with the AMP/Sierra/Denali/Teton setup. Additionally, the Denali feed (afaik) requires payment directly to Sierra, rather than taken from the trading account. I prefer to not have to think about this mundane yet crucial, kind of stuff. I notice NT brokerage lists .61 per side for index micros, with a lifetime NT license.
If you trade that many micros and complaining about fees (with good reasons!), then why not switching to the minis instead? Comm fees for micros are way much more expensive comparing to the minis.
So let's do some math, shall we. From 0.48 to 0.60 (for you tards, that's 25% increase) If you do an average of 100 trades (50 round trips) per day, that's an additional $12. Times that by 5, you're forking over $60/week. So over $240/month and $2,880/year. But are you so friggin' dense to believe they'll stop raising any more fees? Last year alone, CME raised the damn fees twice. They're not done. Far from it. They'll squeeze until they get the last drop.
What, like they didn't raise the fees for ES? It's the same story. But you're right. They're preying on the most vulnerable (eg. new traders), just like scammers prey on the weak elderlies.
I bet you they'll raise the fees again. But maybe not in 2024, that would be too obvious of their greed. I say Feb 1, 2025.
We have provided the AMP and Teton timeline to release on the other thread. https://www.elitetrader.com/et/threads/amp-and-teton.371666/page-2#post-5757535 Regarding the pricing increase, 1) CME is out of our control. 2) we did a full industry review of all major firms public pricing and we are confident that we are still one of the cheapest firms. We were actually surprised how dramatically cheaper we were than other firms. P.S. What we did find is a lot of variation is how other firms are quoting their pricing. A lot are separating their commissions/fees (showing just their commissions/fees) from the technology, exchange and regulatory fees (with a fine print text + technology, exchange and regulatory fees), thus in our opinion not clearly providing a full All-In (all fees included price). So we did the math and figured out their final all-in price and made sure we were cheaper. Another not nice price quote strategy we found, was big banner text "Zero Commission" + fees. Then when you followed the trail, we found the + fees was a $1.50 per side fee...sure, we will charge Zero Commission if we can get $1.50 per side fee. not cool pricing promotion strategy, in our opinion. Plus, a reminder...AMP does not charge any Monthly fees or Software license fees to get lower commissions. We provide ultra-cheap commissions and super-low margins without any any Monthly fees or Software license fees and we have many FREE trading platform https://www.ampfutures.com/trading-platform If you have any questions or feedback, please PM us. Happy Trading!
I (among other brokers) trade through AMP and I can confirm that ES (and NQ) total commission one way went up by 5 cents, equal to CME fee increase, so they did not increase AMP/CQG/WhoEverElse's take on ES. I can confirm I am paying 1.95 one way on ES now and earlier I was paying 1.90 About the outsize jump on micros, yes, it was a lot, but as they have pointed out, they are still one of the cheapest, and no one is in charity business. Sure, people will complain, but what are they gonna do? Go to someone who charges more?