I started a demo account 4 days ago to practice trading the e-mini`s. Applying a strategy that has worked with the SPY i`m up 9587.00, the problem is commission...the rep called me to see if I was happy with the demo and we started talking rates....I almost laughed him off the phone! $16 bucks round trip. Can anybody tell me what a reasonable comm schedule would be for someone that would be trading 40-100 contracts a day?...thanx
As always, the lowest commisions are at Interactive Brokers -- $4.80 round trip. If you need better margin and you're doing in the upper end of the 100 contracts per day then check out Global Fututes (gfetc.com) which has the lowest margin requirements I've found. You'll have to negotiate your commissions but can probably wind up at the $6.00 round trip mark. Customer service is fantastic at gfetc and not the greatest at IB, which is one of the largest retail brokers out there. I have accounts with both. --opm8
I Used to use PFG, Overall a great firm..... No complaints Now I Use FFasttrade 3.32 per round trip, But they have 2 different platforms remote light and remote pro which both cost money to use... The Pro is as close to TT as they could get it, much much better than the Best platform PFG offers for free. Great vertical scalping view! The down side is there is a software fee of $550 per month......I negotiated that down to $300 after 1 month, after trading about 1000 round trips. The remote light gives similar to the executions to the Best. (Never traded the light live only paper) That one is $175 per month, I wouldn't recommend that one because it is java based, much slower than the citrx based pro. So to compare ffast to PFG the commissions on 800rt at PFG $12800 FFast $2656 + 550 software fee That math is the exact reason I left PFG, and got better executions to boot....... Good Luck
this quote is inaccurate. I get lower commissions than this, and i do small size. If u do big size, you can get even lower.
Lundy, Can you clarify your comment? What is your rate? For what volume? At which broker? Thanks. -- ITZ
As far as IB goes, I don't know why anyone would trade futures through them. You can get a better commissions, better service and a better a platform from many other firms. Netfutures, FFastfill, Spike and Greentree come to mind. I know their options prices are cheap, and so are stock trades for those who trade smaller lots.
i used to trade at IB. I didn't know there was anyone cheaper back then. I trade at Greentree now. Needless to say, the commissions are good. However, each person works out their own deal, so i won't quote my deal. I am not a recruiter for Greentree, and I do not get any compensation for posting anything here. It is just the firm that I decided to go with based on their overall flexibility.