I have been using REFCO PRO for over a year now and am very pleased with it. It is totally rock-solid and does not skip a beat during fast markets, FOMC announcements, etc. As for REFCO-Express, I believe that ESignal incorporates REFCO-Express into the ESignal software. My advice to you is to contact Al Pucci or Robert Mercorella at REFCO in New York for accurate answers to your questions: 1-866-607-3326 http://www.refco.com/esignal/
Thanks Waggie. If I use Refco Pro, what are the fees? I have looked on the refco site but cant find them. Am I obliged to a monthly volume? I remember $425 from a post above - does this still hold, as the post was some time ago? I will probably be trading around 200 lots a month, which is why I was thinking of Xpress. Will the data feed I have to pay for fuel my chart software? (Nextrend - very good but I think I am obliged to use their data - not a prob, but I dont want to pay twice for the same thing so I may change chart providers) Sorry to be asking all these questions - Im not lazy honest. This stuff should be on their web site, but the info is crap. Thanks again Fred
Fred, I see your emails. TransAct works like this. .55 a lot for all exchanges plus fees. If you trade more then 364 RT's a month no platform fee. If you tarde less there is one. If you call I can explain exactly how it works. If you want a demo of the product I can send one to your email address.
shivastar, I am also thinking of opening an account with REFCO. Do you have a list of all the contracts you trade and what your commissions are for each product which I can use as a guide for opening my account with them? Do you do a lot of volume to get these commissions? My e-mail is invest99_2000@yahoo.com. Your help is much appreciated. Thanks.
Look man, you need to do a little digging yourself and call up Al Pucci in New York, like I said awhile back . . . I can't do EVERYTHING for ya! There can either be something like a $425.00 per month platform fee for Refco Pro, OR you can waive the fee and simply pay .25 cents per side. Thus, ES and NQ becomes $4.50 per RT, and the ZB becomes $5.55 per RT. As long as you trade more than 50 round turns per month, you will receive th $4.00 RT rate on ES and NQ, $5.00 for ZB. It's up to you.
Is J-trader as good as Refco pro speed and excutionwise? I want to pay 2.4$ for everything exchange,NFA, plateform all included free
Based on $2 per side, considering $1.16 for Exchange and NFA their excution and clearing charges is $0.84 per side. $0.84 means some of Refco Pro plateform charge is digested by trader here. Since real value of Refco Pro is more than $0.25, Lets say $0.84 minuse another $0.25, and puting real platform cost $0.50 per side, thats brings down excution and clearing charge to around$0.59 which is much lower than most brokerage charges. Does Refco charges for other products $0.84 + whatever exchange, NFa charge? or they are calculated differnetly? If so, where we can find Rates for all other products?
But majority here agree that it's much more reliable than TWS from IB. Then this makes TWS crapiest crap. J-trader usually charged $0.50 per side into the commision fee. I believe most brokerage pay much less $0.50 per side for offering it