I'm not sure if that's true anymore. Through IB, depending on your volume, you pay between Y500-Y750 per contract per side inclusive of all fees for the Osaka contract (and remember that this contract is twice the size of the SIMEX contract.) Not to mention the fact that OSE is electronic so you can send an order and receive an execution before you've even dialled your SIMEX broker.
Steve, I sometimes trade the osaka contract on IB, havent tried the Globex one yet. What is the symbol and hours. If I open a contract with Osaka can I offset it later with a globex one if neccessary?
Osaka Nikkei Contract Symbol: N225 Globex USD Nikkei Contract Symbol: NKD Trading Hours: 0800-1515 Chicago time We do not offer the Globex JPY Nikkei contract. The contracts are not fungible, i.e. you cannot open a position on one exchange and close on the other exchange.
Actually i pay much less than that. Some local traders here pay about Y45 per side per lot for commissions or less.
I realise the locals would pay less, but I wasn't aware of firms in Singapore charging lower than Y250 per side to the public.
Iwould trade the foreign exchange market if you looking to trade the late hours. Currencies are more stable to trade.