We've just added a new article to the Jigsaw Blog on Micro Futures Contracts. We don't think they are for everyone but we do see benefits to certain groups of traders. Read it here: https://www.jigsawtrading.com/new-cme-micro-futures-contracts/ Peter Davies
Micros can be the "solution" for traders subject to the "Pattern Day Trader" rules... other advantages too. The only real knock is commissions, which aren't all that bad when you consider that all providers involved must make at least a little or their service wouldn't be offered at all. $.33*/side all-in seems reasonable to me. (The ES equivalent is usually ~$.18-$.20/side for low volume.) And besides... if commissions make the diff between you being "successful" and not, you're doing it wrong. Better to figure that out trading the micros rather than trading bigger. *I don't know what all brokers are charging. I recall a recent email solicitaton which said, "we've reduced our all-in to $.33/side".
Agreed - I think some of the other fees - like the CQG/Rithmic fees for many traders didn't shift yet as far as I know, so the become a larger part of the overall fee structure. But I agree - unless you are a hardcore tick monkey, the commissions don't outweigh the benefits.
Having played with these for a week or two (monitoring order flow on ES but trading MES) there is a satisfaction in trading large multi-lot positions as described in the article's 'benefit 2 - scaling' but the commissions and CQG/Rithmic fees are horrible. A nice compromise is starting with 1-2 MES but then scaling in with ES to minimise the commission/fee percentage.
%% I'd also like to see them put on a promotion for free, 30 days, like some have done with lower volume ETFs. Even though the ''free '' ETFs slap a frequent trading charge if you sell it within 30 days, of entry.LOL-LOL And speaking of free stuff, if possible i'd like some more free info on Jigsaw trader Binko[ad] he is low volume frequency trader /investor with a hit rate about 83%,
Yes. It is more expensive than their commission for the micro EUR/USD forex futures contract (M6E). That one costs 0.33 USD per trade.