Do you think these commission rates inside are acceptable?

This is a discussion on Do you think these commission rates inside are acceptable? within the Futures & Options forums, part of the Markets category; gedward3 and timsk, thanks very much for your excellent replies I will now look into finding a load of brokers ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Aug 9, 2010, 7:29pm   #16
Joined Jun 2010
Re: Do you think these commission rates inside are acceptable?

sopodo started this thread gedward3 and timsk, thanks very much for your excellent replies

I will now look into finding a load of brokers around the $3.50 mark, and see where I get. If they can offer all or some of the things I'm after then great.

Thanks for telling me what NFA stands for. Much appreciated!

If anyone can confirm if NFA fees are part of exchange fees that would be great?

Thanks again for everyone's help in this thread
sopodo is offline   Reply With Quote
Old Aug 9, 2010, 8:22pm   #17
Joined Jun 2010
Re: Do you think these commission rates inside are acceptable?

sopodo started this thread
Quote:
Originally Posted by sopodo View Post
gedward3 and timsk, thanks very much for your excellent replies

I will now look into finding a load of brokers around the $3.50 mark, and see where I get. If they can offer all or some of the things I'm after then great.

Thanks for telling me what NFA stands for. Much appreciated!

If anyone can confirm if NFA fees are part of exchange fees that would be great?

Thanks again for everyone's help in this thread
oops, I just completely over looked something. I was browsing a broker called global futures and I hadn't noticed this before. There commissions are based on per side, per contract. Is that normal. Does this mean all the quotes you have given me, these round turn trades are per contract? Is that normal?
sopodo is offline   Reply With Quote
Old Aug 9, 2010, 11:21pm   #18
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Re: Do you think these commission rates inside are acceptable?

Quote:
Originally Posted by sopodo View Post
oops, I just completely over looked something. I was browsing a broker called global futures and I hadn't noticed this before. There commissions are based on per side, per contract. Is that normal. Does this mean all the quotes you have given me, these round turn trades are per contract? Is that normal?
Hi sopodo,
All brokers (that I've looked at anyway) base their commissions on one contract. The two main variables are:
A) does the price include all other fees, and /or
B) is it per side or a Round Turn.
If they quote $3.50 R/T, that will be for one contract only, i.e. $7.00 for two contacts, $10.50 for three contacts etc., etc. When you think you've found someone much cheaper than anyone else, it's usually because they're only pricing one side or they've not included the fees and, if it's really really cheap, they've done both.
It soon mounts up!
Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is offline   Reply With Quote
Old Aug 10, 2010, 2:15am   #19
 
gedward3's Avatar
Joined Jun 2005
Re: Do you think these commission rates inside are acceptable?

Quote:
Originally Posted by sopodo View Post
oops, I just completely over looked something. I was browsing a broker called global futures and I hadn't noticed this before. There commissions are based on per side, per contract. Is that normal. Does this mean all the quotes you have given me, these round turn trades are per contract? Is that normal?
Here the company fairvalue i was talking ab out.

http://www.fairvaluefutures.com/

You can trade from their offices also for 300 quid a month but i suppose you
wont get all the information. You would however be in a room with a load
of professionals and learning a hell of a lot from them.

Ged
__________________
A WISE MAN LEARNS BY HIS MISTAKES......AN EVEN WISER MAN LEARNS BY OTHER PEOPLES MISTAKES

And as somebody else pointed out to me on T2W.

THE WISEST MAN LEARNS BY HIS AND OTHER PEOPLES MISTAKES...................

Is diarrhoea hereditory or does it just run in your genes
gedward3 is offline   Reply With Quote
Old Aug 10, 2010, 4:38am   #20
 
fantastic4's Avatar
Joined Oct 2008
Re: Do you think these commission rates inside are acceptable?

It's not just about commissions, although what you should pay is in the 4 dollar per round trip range. I would rather pay a bit more but get a solid and reliable platform. Getting properly filled is more important to me than 50 cents. There are a few problems with the smaller futures brokers, and one of them is something that most people don't realize. Read the fine print and you'll find that they're not obligated to send each and every order to the exchange. Yes, many actually act as bucket shops and seek to drain accounts. Just try to confront them on this issue, and see the run around you'll get.
fantastic4 is offline   Reply With Quote
Old Aug 10, 2010, 4:50am   #21
 
gedward3's Avatar
Joined Jun 2005
Re: Do you think these commission rates inside are acceptable?

Quote:
Originally Posted by fantastic4 View Post
It's not just about commissions, although what you should pay is in the 4 dollar per round trip range. I would rather pay a bit more but get a solid and reliable platform. Getting properly filled is more important to me than 50 cents. There are a few problems with the smaller futures brokers, and one of them is something that most people don't realize. Read the fine print and you'll find that they're not obligated to send each and every order to the exchange. Yes, many actually act as bucket shops and seek to drain accounts. Just try to confront them on this issue, and see the run around you'll get.


And you got any fine print to prove this. Not saying your wrong but would be
good if you could shed more light on this as if its true retail are just getting
spanked from every angle.........IT COULD BE ONE BIG TURD PIE WITH EVERYBODYS
FINGERS IN IT
__________________
A WISE MAN LEARNS BY HIS MISTAKES......AN EVEN WISER MAN LEARNS BY OTHER PEOPLES MISTAKES

And as somebody else pointed out to me on T2W.

THE WISEST MAN LEARNS BY HIS AND OTHER PEOPLES MISTAKES...................

Is diarrhoea hereditory or does it just run in your genes
gedward3 is offline   Reply With Quote
Old Aug 10, 2010, 6:12am   #22
 
arabianights's Avatar
Joined Jan 2007
Re: Do you think these commission rates inside are acceptable?

Quote:
Originally Posted by fantastic4 View Post
It's not just about commissions, although what you should pay is in the 4 dollar per round trip range. I would rather pay a bit more but get a solid and reliable platform. Getting properly filled is more important to me than 50 cents. There are a few problems with the smaller futures brokers, and one of them is something that most people don't realize. Read the fine print and you'll find that they're not obligated to send each and every order to the exchange. Yes, many actually act as bucket shops and seek to drain accounts. Just try to confront them on this issue, and see the run around you'll get.
An internal market can theoretically be to clients' advantage: Say one client is on the offer, and one client goes to lift the offer - client a) benefits from lower commission AND A better fill, client b) benefits from lower commission.
__________________
World's leading STIRs chatroom - www.propboards.com - register, then click on chat. Don't let the lack of posts on the forum put you off - the action happens in the chatroom. Targeted at locals, but hedge funds, brokers (including IDBs), market makers, and a few sizable amateurs are all represented. When it's quiet, banter is encouraged and anything goes.

No nuisance spread betters please. Anyone else welcome.
arabianights is offline   Reply With Quote
Old Aug 11, 2010, 2:09pm   #23
 
1 Posts
Joined Mar 2010
Re: Do you think these commission rates inside are acceptable?

Check these out they have been offering $3.3 R/T for the life of a new account with $25k in. Its a limited time offer so check first. http://www.openecry.com/company/generalinfo.cfm
monypat is offline   Reply With Quote
Old Aug 12, 2010, 10:25pm   #24
 
7 Posts
Joined Aug 2010
Re: Do you think these commission rates inside are acceptable?

Sopodo,

You probably already have the answer you need, but I agree with timsk that you need to figure out what all of the costs are, not just commission. I've had some bad luck with extra fees showing up both transactional and monthly. Another thing is the tiered systems are misleading most of the time (at least to me). I thought once I went over 1000 trades the rate would change for all my trades and it was just for the ones over 1000. With all that said, none of this is really too important unless your trading necessitates it. For me, it was tough initially because I wanted under $4 all in for an e-mini and didn't trade a lot all of the time and had a small account ($10k). Now I have a larger account, but my trading is sporadic and I hated to keep trying to figure our the tiered structure so had to find a firm to accommodate me. Anyways good luck.
vmanningIII is offline   Reply With Quote
Old Aug 18, 2010, 9:26pm   #25
Joined Feb 2005
Re: Do you think these commission rates inside are acceptable?

On commission itself, I could say that this broker is cheap.

variancefutures commissions.

However there's then the extra charge for the following...

The platform fee and license on some platforms.

However the more and larger volume you trade you could get some or all rebate.

platform rebates.

So the choice is yours.
Martin Kong3 is offline Other (Please email T2W with details)   Reply With Quote
Old Aug 19, 2010, 9:37pm   #26
 
7 Posts
Joined Aug 2010
Re: Do you think these commission rates inside are acceptable?

Quote:
Originally Posted by Martin Kong3 View Post
On commission itself, I could say that this broker is cheap.

variancefutures commissions.

However there's then the extra charge for the following...

The platform fee and license on some platforms.

However the more and larger volume you trade you could get some or all rebate.

platform rebates.

So the choice is yours.
I wouldn't say these rates are expensive, but for the average trader you can definitely get a lower rate.
vmanningIII is offline   Reply With Quote
Old Aug 24, 2010, 4:59am   #27
Joined Jun 2010
Re: Do you think these commission rates inside are acceptable?

sopodo started this thread
Quote:
Originally Posted by Martin Kong3 View Post
On commission itself, I could say that this broker is cheap.

variancefutures commissions.

However there's then the extra charge for the following...

The platform fee and license on some platforms.

However the more and larger volume you trade you could get some or all rebate.

platform rebates.

So the choice is yours.
Once again I would just like to say thanks very much to everyone that has answered to this thread. Your help is very much appreciated.

Perhaps I will use these people in the future, but go for a little more expensive commissions when I start. Like they say you want a good broker and platform that can fill you. For that a few extra cents is all right I guess.
sopodo is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Eurex commission rates sambinho Home Trader 4 Aug 15, 2010 6:21pm
Acceptable Risk/Reward Ratios and Managing Multiple Contracts sammythescalper Psychology, Risk & Money Management 11 Aug 6, 2010 6:27pm
what is an acceptable income for full time spreadbetting? JasonC2 Spread Betting & CFDs 30 May 8, 2006 11:42am
Acceptable consecutive losses jezza888 Psychology, Risk & Money Management 7 Mar 28, 2006 2:50pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)