Hello, Iâm hoping to get advice on futures commissions. I would like to negotiate for lower rates, but Iâm not sure what I should go for. I have a six-figure full-service account with a major futures house, set up through an LLC. The account includes access to an execution desk, research, and T-bills as margin (however I donât use the execution desk). Recently Iâve been trading around 50 lots a day (25 round turns), but itâs hard to say what Iâll trade going forward because Iâm somewhat of an opportunistic trader. I trade futures electronically, and pay 1.75 (per side) commission + 0.50 (per side) electronic platform charge + clearing/processing and NFA fees. So for example in COMEX Gold this comes to 3.82 per side. I also trade options through give-up brokers, and pay 1.75 to my house + the give-up brokerage + fees. It is the 1.75 commission to my house that I am looking to negotiate, and possibly an elimination of the 0.50 electronic platform charge. Can anyone give me an idea of a fair rate that I should look for? Thanks very much and happy New Year.
IB starts at 70 cents per contract for options for execution and clearing. The fee will slide down after 10K contracts per month. As it looks like you want to give up to another clearing house you could still do this via IB but will have to talk to a sales person. If interested, (links are on our web site) http://institutions.interactivebrokers.com/en/general/contact/contactSales.php?ib_entity=inst