If I sign-up for eSignal/Tradestation today, I will be billed full exchange fees for the month of September, correct? And then on October 1st I will be billed the full exchange fees for October?
The exchanges DO NOT pro-rate monthly fees. I signed up for level I I initially in the middle of the month and was billed the entire month. I am fairly sure TradeStation will pro-rate their $99 Platform Fee. We are not talking about huge money!
I am worried about signing up for a gazillion exchanges and being charged for all of September (only 2 days left) and then charged for October on the 1st of the month....
It all depends on your frame of reference. If you have been trading for decades and spend $1000 a day in commissions, the exchange fees probably seem ridiculous to you, but if you busted your anus working at MCD for a couple of years to save up $25,000 so you can open a day trading account, I can imagine you won't want to start out with doubling your $500 monthly loss in the first couple of days.
Can't speak for Tradestation billing procedures but in regards to eSignal, each account is assigned a specific billing date and you are billed on that day each month. In other words, if you start your service today, your cycle date will be the 28th of each month and you'll basically be charged for 30 days of service on each cycle date. If you have other billing or account related questions regarding eSignal, please review our Service and Support FAQ's. Thanks.
When I started my account with Tradestation it was about 2-3 days to the end of the month. At that time I didnt realize how they charged. I added some futures exchange fees and I was charged the full monthly fee for those 2-3 days. I emailed the sales guy who dealt with my account and he said he would get it refunded. Moral: Tradestation charge from the beginning to the end of the month no matter when you subscribe.
When you sign up for TradeStation, the data fee for TradeStation is prorated for the portion of the current month that you are signed up, and then you are billed the full monthly amount at the beginning of the following month. If you subscribe to any exchange for which there is an exchange fee, however, you will be billed the entire exchange fee, regardless of on what day of the month you subscribed to the exchange. If you are signing up for TradeStation towards the end of a month, then, you may wish to postpone subscribing to real-time data for some exchanges until the beginning of the next month. Thank you, Greg TradeStation Technologies, Inc.
Greg, Thanks for clearing that up. However I had already figured that out the hard way What about the Tradestation features, e.g. Radarscreen. Are they prorated too? If I signup say on the 10th and then cancel on 20th do I get charged for 10 days? Regards, Splat