IB Comm for ES (unbundle)

Discussion in 'Index Futures' started by TraderSU, Feb 12, 2010.

  1. Is there any benefit of switching to un-bundled fee for ES trading? Volume is less than 300 contract per month.

    IB Unbundled Fees: 90
    IB Clearing fee: 30
    ES exchange fee: 1.14

    So new comm will be 2.34 ; a saving of 6 cents.

    But there is a carry fee of 10 cents for any overnight trade.

    Does it make sense?

  2. You left out the NFA fee of $0.01 for an unbundled ES total of $2.35 a side.

    If you daytrade you go unbundled. If you go overnight and trade less than 300 sides a month you go bundled.

    Or go to another futures broker with lower commissions to start with and no overnight carry charge.
  3. Any suggestion about brokers? Some IB (introducing broker) told me once that they can't beat IB (interactive brokers) commission (4.80 RT).

    What is the best rate that I can expect for ~200 contracts per month?

  4. Most futures brokers want to see some volume to give lower rates. 200 RTs a month isn't much volume.

    Interactive Brokers charges $4.70 RT for ES (first 300 sides = 150 RTs)

    Here are some lower cost futures brokers. Keep in mind that you may not like their platforms, data feeds or customer service.

    futuresbroker.com charges $3.80 RT with a choice of 4 free platforms (NinjaTrader, Strategy Runner, QST, or CQG Trader).

    Transact Futures charges $3.76 RT with a minimum of 274 RTs a month. (Not cheaper for your 200 RTs a month.)

    Lightspeed Trading charges $3.30 RT with no volume minimum.

    Zumo Futures charges $3.30 RT with no volume minimum. Must have minimum $15,000 account to avoid $89 a month platform fee.
  5. Lightspeed looks excellent. Anyone using them, please advice on followings?

    * Do they have any monthly platform fee?
    * What about data subscription fee?
    * Do they charge options modify/cancel fee?