REFCO commission rates

Discussion in 'Retail Brokers' started by saxon, Dec 10, 2003.

  1. saxon

    saxon

    Does anybody know what REFCO charges "per trade" for ES contracts (like IB is $2.40), just for example? Their rates seem to be a closely guarded secret (I wonder why).

    I have an account with IB, but I'm thinking of using REFCO for a backup. I'm sure REFCO is higher, but if I don't make that many trades there, no big deal.

    Also, if anyone has any personal experience with REFCO, please give me a thumbs up of down. I know they are huge ($20 bln in assets). And they offer trading in all futures (including pit-traded contracts). Might make a good combo with IB for once-in-awhile or special situation or backup trading.

    thanks,
    sax
     
  2. Go ask them. That is the only way you can get a definitive answer.

    Refco commissions are extremely variable depending upon what type of account you are.

    Refco provides full-service, high rates to retail accounts, institutional rates to institutions, and professional rates to professionals. Within these categories they have flexibility for different trading volumes, styles, etc.
     
  3. seem competitive with gaincapital etc. :)
     
  4. All right, let´s build a list of introducing brokers:

    www.ots.com
    www.gammafutures.com
    ...

    They don´t have any commission schedule on their website either.
     

  5. My goal was not to advertise: see on the sites I am suggesting, they're no IBs, they are divisions of REFCO. And they do have commissions on their sites.
     
  6. bone

    bone ET Sponsor

    You're not going to get a decent rate from anybody if you're going to deposit a minimal amount of capital with them, and use them 'once in a while'. Be realistic.
     
  7. saxon

    saxon

    I was not expecting discount rates. Just hoping they were not too exhorbitant.
     
  8. saxon

    saxon

    FYI:

    I received this reply from REFCO.

    There is not set commission schedule. For new customers we start them at $15 plus fees for open outcry markets and $10 for electronic. After reviewing your accounts monthly statement we see there is sufficient volume we can hopefully lower the rate.

    sax
     
  9. Hi....
    I don't know what the RTC rates would be at Refco because I have an account with them that is managed by an IB of theirs.
    I think you are correct though in assuming they are much more expensive than I.B.
    I.B. is where I trade for myself as well because Refco would be to expensive for the volume and way I trade I think...
    RUSS.
     
    #10     Dec 12, 2003