No Commission Market?

Discussion in 'Retail Brokers' started by robthequant, Aug 9, 2018.

  1. I have a great AI trading strategy that operates on order book.
    It showed great potential, but it is a high frequency (30 sec. to 5 mins trades) and only takes small profits.
    So it mostly fails due to high commissions.
    I'm looking for a broker or an exchange of ANY MARKET that:

    1) Has zero commissions or a flat monthly fee.
    2) Is very liquid
    3) Has order book feed
    4) Has API
    5) Good execution of my market orders

    Thanks for any feedback!
     
  2. Robert Morse

    Robert Morse Sponsor

    1) Not going to happen
    2) Algos that find liquidity cost money
    3) Level 2 cost money
    4) OK
    5) That will be based on liquidity at the time and what routes you have access to.

    My feed back is that you can't find what you want for free.
     
    Last edited: Aug 9, 2018
    Secret Santa, comagnum and MattZ like this.
  3. MattZ

    MattZ Sponsor

    There thousands of strategies that could be profitable if there were no expenses.
    In Futures, the biggest expense is the exchange. Commissions and data feed could be low if you choose the right API.
     
    comagnum likes this.
  4. Tradovate is the lowest I have found...$2.58 RT all in + $199.00/Mo. No platform fee. $5.00/mo for CME if you need DOM.

    You will need to talk to them about the API though...They are a sponsor here..get their ph# and call them.

    ES

    P. S. Your next step in my opinion is to lease a CME seat.
     
    Last edited: Aug 9, 2018
  5. MattZ

    MattZ Sponsor

    Don't you have to pay the $199 upfront for 12 months? 12X$199
     
  6. Yes...BUT..you can pay $249.00 per month to get the $2.58/RT.

    ES

     
  7. MattZ

    MattZ Sponsor

    Simple: If you take the number of rounds turns you really do X by 2.58 (as you say) and add the $249 you will get the total commissions. Then divide that again by your round turns. If that makes sense to pay for these costs X12 upfront, go for it. There are other considerations such as latency, etc. that make an impact as well.
     
  8. Robert Morse

    Robert Morse Sponsor

    Do you guys even know that he trades futures?
     
  9. MattZ

    MattZ Sponsor

    He said "Any Market" so I discussed the Futures markets.
     
  10. Thanks ElectricSavant! is $2.58 RT flat?
    If I trade $1k or $10k or $100k in one trade is it gonna stay $2.58?
    Yes any market with an order book and api will do :)
     
    #10     Aug 9, 2018