I just spoke with FFastfill in Chicago. They quoted me $ 3.36 A round turn!! Has anyone had either good or bad experiences with them? This just sounds too good to be true.
...you have to pay them $550 a month for their "Remote Pro Trading Platform" in order to get these great rates. IB is still the king. http://www.ffasttrade.com/content/ffaststart/charges.shtm --opm8
I'm doing on average 20 RT Nasdaq Minis a day. According to their pricing chart, I'm saving $$. How is their customer service??
Correct me if I'm wrong but IB's rates are 2.40 per side (don't let that mislead you) and Ffastfills are $3.36 r/t. Even if you include the monthly fees, if you just did about 30-40 a day, it comes out to under $1 per contract which is considerably cheaper than IB's at the end of the month. I used to do 100's a day and that would've saved me thousands a month. You do the math. If you are a piker doing 2-3 contracts a day then this would not be for you.
My call to FFastfill was picked up, by a live person, on the first ring. No recorded message, no voice mail, just a "hello, how can I help you" ? But then again, how busy could they have been today. Any actual experiences with this company would be greatly appreciated.
opm8, stock777: Do the math. Based on what was presented as their rates, at 382 (or more) round turn contracts per month (~19/day), IB is more expensive: 382 * 4.80 = 1833.60 550 + (382 * 3.36) = 1833.52
alanm, Not disputing the math here, I just don't like the idea of ponying up $550 every month before I've had a chance to place a single trade. What if I want to take a couple of months off and travel the French riviera on my earnings (or a million other reasons where I can't trade for a period of time)? Oops, there goes $1100 and 763 trades worth of "advantage." You could argue that you'd just close your account for the two months but for me it's not worth the effort and Ffastrade sounds like a ripoff. As always, YMMV. --opm8