So that would be over $5 RT, right? Then, it's a ripoff. I thought most brokers were offering less than $5 RT these days. At least all good ones. IB does, for one.
In fact, a lot less than $5 trip. Slightly over $2 per side ($4 round trip) from IB or DDT, including platform fee. Fir those considering futures options as well as futures it is better to quote it per side, because you want to only pay for one side if the option expires worthless (which they often do). Unless you negotiate it on a per side basis, some brokers will charge you the full round-trip fee in this case (but not IB or DDT).
Yea its not that big of a difference. The big difference comes when you lease a seat: Clearing: $0.27 Exchange:$0.25 Brokerage:$0.50? NFA:$0.02 So for 2000 trades average monthly: Non-lessee rate($5.35) = $10,700 in fees Lessee rate($2.08) = $4,160 in fees You save $6,540 Monthly. I think the lessee is like $1,900 a month? So it would pay for itself.
A leasee pays $0.21 a side for clearing. Globex fees for the first average 150 sides a day is $0.25 a side. The Globex fees drop to $0.065 only after first average 150 sides a day. More drops in Globex fees after 1,500 and 15,000 average sides a day. IOM seats lease for $350 a month with one currently offered at $300 a month. Last IOM seat sale was only $47,000.
If one wants to trade the 6's, you would need a IMM? But what's the difference then between CME and IMM?(Seems that IMM covers everything...)
I like interactive brokers for a lot of reasons, one because they're a real brokerage. A lot of these introducing futures brokers have no insurance. I guess they're good if you want to leverage your 1K account and aren't too worried about their potential for willful fraud or insolvency, but if you have a large amount of money, I think you'd be crazy to go with mirus, amp, or something like infinity. With IB you can trade all markets as well, and you can keep your money in whatever currency you choose.
AMP asked me to remove them from my post, but I double checked by going to the AMP website. I don't see anything about Lloyd's of London insurance on the cash in your account with them? Why would you want an uninsured accounts as opposed to an insured one? I haven't made this post to be malicious or try and spread a bad name on anyone. I think this is factual, and if it's not, then please correct me. I would appreciate it. Also, I don't feel as though AMP or the other mentioned brokers are bad, but I would rather park my 100K with an insured account as to an uninsured one.
Actual Request from AMP: Please remove AMP from your post. AMP is fully compliant with all regulatory requirements and also has zero NFA actions or CFTC cases: http://www.nfa.futures.org/basicnet/Details.aspx?entityid=k17Ne6qLDo8=&rn=Y So please, whatever you motive of posting this type of thread is your business, but please leave AMP out of it.
Yep, that's what I was talking about. And I don't mean to ruffle any feathers, and my apologies if I have. I think AMP is a fine broker. But while you're here, can you answer my question? If you had a 100K, would you rather have it deposited it an uninsured broker, or an insured broker? I'm not trying to misrepresent you in anyway, and I don't believe I have. Sorry if I seem to be attacking you, I don't mean it that way.