I’m trading MES on Ninjatrader platform right now. I’d get about 100 lots round trip in a month(so 200 lots of commission). About 40% of my profit would have gone into the commission. If I could lower the commission, I’d be much more profitable. How many lots Per month do I need to have for me to be able to negotiate a better rate??
The highest ALL-IN "cost" (free, no platform lease) at NT Brokerage for MES is... .72 ROUND-TRIP per contract. So $72 per month is the difference for you to be "much more profitable". If you have an NT lease or lifetime license the ALL-IN ROUNDTRIP is even LESS! $72... $864 in a year, the difference... much more profitable?? Over 1000 contracts/mth (500 round trips) and volume consideration is possible with many firms
Guess it’s something to discuss with your broker. You can ask other broker for a price too. A CME seat would be an option. You could lock 1 tick+ profit.
there are over 2000 introducing brokers (IB) and just 63 futures commission merchants (FCMs); brokerage shop for all in/all out round trip costs.
I pay 2.24 round trip for each lot of MES from my broker who’s associate of NinjaTrader. That’s when I lease Ninjatrader platform. I just want to ask my broker with some kind of reasonable number instead of acting like some cheap ass trying to get a deal on everything. Although I’m only trading a bit over 100 round trips per month. I was only trading a single lot at once. I could triple the number of lots per trade which would be 700 lots per month. That’s about $800 per month in commission. But the problem remains the same since I’d be paying about 40% of my profit as commission. That’s just a bit too much.
2.24 roundtrip for micro-index is INSANE!! As a shot in the dark I'm guessing you are trading through an IB of OEC/Gain. Doesn't matter though, 2.24 is insane!! Off the top of my head in no particular order, AMP, NTBrokerage, Optimus, Tradovate, TradeFutures4less, GenericTrade, DeepDiscountTrading, and even IB, all have MUCH LOWER published rates for micros! Other factors such as routing, transactions, software, feeds, and other fees may apply to your particular setup, but you get the point!! I recommend AMP, but that's me. Get out from where you are IMMEDIATELY. 2.24 is INSANE. Volume consideration normally begins at 1000/contracts a month in todays marketplace.
I'm using Ninjatrader, more precisely, an affiliate of NT. It seems to be the only one available to Canadians. I had to figure out a setup that would be sustainable under this commission..... which is quite difficult. I can't afford many mistakes.... I think IB works in Canada but the initial margin is 6k I think. that's over my budget. Having 6k stuck there just for a single lot of MES doesn't seem to make much sense anyway.
Does @AMP_Global take Canadian account holders? I see they are an ET sponsor. If you haven't already inquired why not do so?
I actually just saw that post of them. I plan to contact him tomorrow about it. Hopefully they could offer a better commission. I think any broker could easily beat my current one. It's Ironbeam I'm using right now, btw. So I am a member of Global Futures affiliate with Ironbeam affiliate with NT. I guess that's why the commission is so high. I'm being skinned 3 times before my orders hit the exchange..... EDIT: Actually it was www.optimusfutures.com I just found in another post. So thx for mentioning the sponsor earlier