The broker I was using for stocks (speedtrader) were charging $1.75 per side in exchange fees but deep discount trader says $1.16. So other brokers I was looking into definitely were getting a bit extra out of that. I'm not sure if that's what you meant by "fraud" but they were milking it for sure. As for other comments about trading platform fees, I'm not worried about an extra $100 a month unless its something I could get for free. When you add up commissions/spread/margin/platform fees/charting fees and everything else to nickle and dime you, it adds up fast. I realize you have to spend money to make money. Since the commissions at deepdiscounttrading are so low I would have no problem paying that much for a good platform. I have plenty of money to trade with. I just want to make sure that I'm efficient with my money and not wasting it.
Also, since I'm new to futures, I thought I'd ask people who use Ninja trader about the associated costs and quality. With the firetip program i'm using, it's different for every broker that uses the program. I've only traded stocks so I'm unfamiliar with a lot of the cost structures with futures. I appreciate the response though. Even if it was a bit harsh. I'm learning to not take anything personally on this forum. Had I not asked the questions I did, I wouldn't have found out about Deepdiscounttrading.
Hola Schulzey, Private message me; I think I may be able to give you the inside 'tip' & stuff. And before any of the little ET f*ckers call me out; just shut your pie holes. I am not butting into this thread to get into a cock measuring fight, cool? Respect to long-term traders with a great relationship(s) with their futures broker(s)...k? Just wanted to put out the peace flag before anyone starts posturing. No affiliation with any broker here, no vested interest. Just a 27+year full-time trader both intraday and swingtrading and longer-term campaign trader who 'knows' a thing or two. That is all. peace hedvig
Clueless or dump? I mean, come on. How can you compare the exchange fees for STOCKS to that given at Deep Discount Trading which is a futures broker? Does it not occur to you that "Exchange Fee" is not a worldwide standard that is set by some international organization but depends not only on the exchange, but possibly also on the instrument traded? Whatever you paid for stocks was heavily depending on the exchange you used there, and has ZERO correlation with what any particular exchange charges - heck, even the CME Group charges different for different instruments. Currencies for example have higher fees than the mini S&P. And you compare what you supposedly paid for "Stocks" (depends also on lot size) to that from another exchange and wonder? Sorry, this is basics. When you go into a food shop, different things also have different prices, you know. It is not all priced the same.
This! School him gently but firmly Net. We were all newbies once (if our family wasn't in the business). Though YOU are adding value to this thread. Props to you, sir. peace hedvig
I'm not talking about exchange fees for stocks. The broker that I used for stocks has $1.75 exchange fees per side for futures trades. I thought about using them for futures as well as stocks but changed my mind. And, yes until recently I thought the exchange fees would all be the same but the commissions for each broker would be different. I think that's enough questions for me. Why are you even answering my posts if they bother you so much. I'm sure you have better things to do.
By the way, I'm talking about the ES when it comes to commissions and exchange fees. I'm also planning on trading the M6E for longer term trades.
Then you seriously got ripped of, likely. Which I find disgusting. Lesson learned: Quite often when things are summed up into one number... they get rounded into your disadvantage
------------------ Hey! It is nothing personal; so keep flowing. It is a way to get schooled fairly painlessly. We want you on the other side of our trade--a good rate will help you trade more. We are all brothers in the moneychanging game!! I don't consider women in trading. La prego di accettare le mie scuse! peace hedvig
Hi there, Thanks for the advice. I can take it, it's no problem. Like I've said before stocks are all I have traded. So I've been figuring out all of the rules for futures and trying to understand fees and commissions. This is most likely going to be a stupid question, but is there a difference between per side and per contract? Sometimes commissions and exchange fees say per contract and some say per side. Also the platform fees that I'm looking at right now (aside from the monthly fees) say per side as well. So far I've just been assuming per side is per contract and then of course multiplying it times 2 for a round trip trade. Are some fees a fixed rate for however many contracts one way or are all fees per contract when they say per side?