i assume $5 RT is the going rate for contracts like YM (YM is my only market) would prop firms offer lower comissions like $3?
It all depends on the volume of contracts you're moving per trade. The first broker I ever started with a few yrs ago( OpenECry) charged me $4.00 RT (ES) as long as I averaged minimum 150-200 RTs per month. I now do 5-7 times that volume but thru another broker I now use(Dorman) and pay $2.90 RT. Its all about volume discounting............
I'm not an expert in fees and commissions, but I'm pretty confident current exchange fees for YM are .91¢ plus NFA fee .01¢. All said, .92¢ per side. Anything over and above $1.84 RT is known as commission.
thanks, that said im probably doing 50 RTs a day as i scalp YM, 250x a week that is . 1000RTs a month, bound to get cheap comissions somewhere.
why would anyone trade more than 4 contracts of ES per trade at, say, IB? I don't get it. why would you not trade stocks at a fixed commission rate at, say, TDAmeritrade, if you trade a large volume? The more ES contracts you trade, the more commission you pay at IB. But if you trade a stock at TDAmeritrade, you pay the same commission if you trade 50,000 shares a trade.
Not everybody has the capital to meet the PDT requirements, you can trade 1 ES with as little as $400 performance bond. You really DO NOT get it!