Is 3.20 for clearing and exchange fee normal?

This is for currency futures.

My brokers is currently charging me 3.20 clearing and exchange + 1.80 round turn?

Would u say this is expensive?

I would think the clearing fee should be lower?

Anyone else can offer anything better?

 

should be 2.3 rt

1.50 exchange
.78clearing
.02 nfa

 

nope i am getting charged

commish 1.82
clearing 3.20
nfa .02
transaction .50

so total 5.54 round turn.

seems kinda pricey no ?

 

uh, yeah!

bottom line. just drop your broker and move your money somewhere else.

Plenty of places 4.5 and under rt.

what are you trading though?

 

currency , jpy eur, etc the majors

 

ok, for comparison check out this link. I don't own this firm or anything.. just to make sure you're not getting ripped off.

http://www.tradewithvelocity.com/commissions/chicago-mercantile-exchange.aspx

their rates aren't the best but about avg i would say..

 

That is the price for ES, not for Forex futures.

ES exchange fees total $1.14 a side ($2.30 RT with NFA fee).

Forex exchange fees total $1.60 a side ($3.22 RT with NFA fee).

 

What the heck is the transaction charge of $0.50 ?

Forex CME Globex exchange fees total $1.60 a side.

Two cheaper brokers are:

Lightspeed charges $0.50 a side plus exchange and NFA fees ($0.50 + $1.60 + $0.01 = $2.11 a side or $4.22 RT).

futuresbroker.com charges $0.75 a side plus exchange and NFA fees ($0.75 + $1.60 + $0.01 = $2.36 a side or $4.72 RT).


Of course for those prices you may not like the trading platforms, data feeds or customer service.

 

i guess you get what u pay for as the saying goes.

 

You always pay for what you get, but you don't always get what you pay for.