With deepdiscount trading, it is 1.66 * 2 + 0.15 * 2 = $3.62 for using Sierra Chart, ignoring the $20 monthly fee. This is the same as Velocity's old price. It went from $3.62 to $3.75 and now to $3.88. Actually, it seems like the price never were at $3.75. It went from $3.62 to $3.88 More than the price increase, I find the behavior, well, disturbing. Hey, they are almost making IB competitive! My average per contract profit is not so low that it would be impacted by this to any significant degree, but this is starting to raise questions about how they handle communications with clients, changing practices about not cutting checks etc. Like I said, their competition is now IB, and they better have to chops to compete over product offerings, client money security and a litany of other things. Anyways, checking out a few other brokers feeds are in order, methinks?
Right, and if I check their commission table now it seems to be totally out of sync. Commission level 5 is less than level 8. What a mess... http://www.tradewithvelocity.com/commissions/product-commissions.aspx?productID=217
Been trading w/Global Futures for many years. They will negotiation on commish based on volume and their customer service is 2nd to none. They also cut checks but I frequently wire funds out for large dollar amounts. The 30 bucks is worth it for insurance.
Note they also have separate "maintenance fees" based on platform and volume in some cases that may interact with the apparent commission rate curve. http://www.tradewithvelocity.com/policy-disclosures/fee-schedule.aspx Do they charge a "clearing fee" too? That is another bogus fee that some brokers charge.