There are exemptions for some types of small companies. https://www.cmegroup.com/market-dat...it-a-to-schedule-4-non-pro-self-cert-form.pdf
This is interesting. I wonder if IB would accept because they automatically classify all LLCs as professional.
I did mention this to IB once, they just ignored it and gave the standard line: Company means professional data rates. So i stopped pro data from IB for my company account. Just used them for execution I no longer trade with any of my IB accounts, they are dormant these days. I also switched to pure retail. Are you day trading futures with IB? Margins are so high. I moved to AMP a few months ago. Im finding them so much better than IB for day trading.
for llc account, If I use data from IQFeed, do I still pay professional data fee for multiple brokerage accounts? In this case , I should be able to use IQFeed data anyway I want, right?
Yes because many brokers don't even allow execution on their platform without data connection. If you execute via API then that is different but you have to build the software to do that.
No, LeeLoo does not subsidize. From their website: You will not be trading a Live account. After successfully trading an Evaluation Account, you qualify to trade a Leeloo ‘Performance Account.’ Our Performance accounts consist of you trading a Simulated account, and the opportunity for Leeloo to copy your trades into a live account with proprietary software. Leeloo found that there are far more benefits for our traders to operate Performance accounts in this manner.
Here is the shift that has happened: 1 Exchanges have transition from just collecting exchange fees to collecting exchange fees and very large data fees. (big cost increase for traders) 2 Brokers have transitioned from running a simple commission collecting business to a business that relies more on charging margin interest and selling order flow. (big cost decrease for traders) Difference between #1 and #2 is exchanges are monopolies and brokers are not.