Comms free futures trading

[moka2]

A game changer or something that only will suit few players?

https://www.tradovate.com/pricing/
FCM sems to be Dorman

Example 1 ES is , $1.17 exchange, $0.01 NFA, $0.09 clearing for $1.27 per side.

But your "break even" point could be way high as monthly "fees" apply!

Also can't trade Spreads or Option on futures at this stage!

Wondering if anybody is using it!

 

[wintergasp]

I wouldn't recommend them. If you open an account with 100k$ with most brokers these days, they'll charge you what... 0.50$ ? 1$ ? On top of exchange + nfa that's 2.3$, don't waste your time trying to optimize that.

 

[moka2]

I wouldn't recommend them. If you open an account with 100k$ with most brokers these days, they'll charge you what... 0.50$ ? 1$ ? On top of exchange + nfa that's 2.3$, don't waste your time trying to optimize that.

With any broker I think brokerage is dependent upon volume not just balance of a/c in any case this one does not sound that cost effective at the end of the day I agree

 

[wintergasp]

With any broker I think brokerage is dependent upon volume not just balance of a/c in any case this one does not sound that cost effective at the end of the day I agree

Yes but if you talk about a 10k$ account you'll never get anyone on the phone.

If you talk about 100k$, 250k$, or 1m$+, you will get enough attentions to organise physical face to face meetings and discuss. Brokers know very well that 10k$ account don't last more than 2-3 months whereas someone well capitalized has a much higher chance of succeeding so they're more encline to give you better pricing as "a business gesture".

 

[moka2]

agree so all in all size (which indicates activity!) the 0 brokerage (but fixed monthly) is a gimmick + this offering is not at par with major FCMs either ( ability to trade advanced things in Futures and Options on futures)

 

[Lúidín]

Yes but if you talk about a 10k$ account you'll never get anyone on the phone.

If you talk about 100k$, 250k$, or 1m$+, you will get enough attentions to organise physical face to face meetings and discuss. Brokers know very well that 10k$ account don't last more than 2-3 months whereas someone well capitalized has a much higher chance of succeeding so they're more encline to give you better pricing as "a business gesture".

why would a $10K account not last more than a couple of months..at 1% risk per trade it is 100 trades..less of course due to margin requirements..it also depends on what one decides to trade with the $10K..not much due to pattern rule and buying power with normal broker..but plenty if using a spreadbet of cfd account..the main thing is not risk real money until one can at least make some money with sim over 20 to 30 trades..but with sim one must take it serious as if it is a live account..if one is just messing about then yes..the chances of losing $10k in a couple of months can be very real

i do agree that if daytrading stocks with a normal broker..then the minimum account balance is $30k to $35k..and this limits the stock selection somewhat..but still viable once the right stocks are selected for daytrading

 

[wintergasp]

why would a $10K account not last more than a couple of months..at 1% risk per trade it is 100 trades..less of course due to margin requirements..it also depends on what one decides to trade with the $10K..not much due to pattern rule and buying power with normal broker..but plenty if using a spreadbet of cfd account..the main thing is not risk real money until one can at least make some money with sim over 20 to 30 trades..but with sim one must take it serious as if it is a live account..if one is just messing about then yes..the chances of losing $10k in a couple of months can be very real

i do agree that if daytrading stocks with a normal broker..then the minimum account balance is $30k to $35k..and this limits the stock selection somewhat..but still viable once the right stocks are selected for daytrading

Look, everyone knows that a 10k$ account doesn't last. You can ask any broker over a beer in London. If all you have is 10k$, you won't be able to sustain yourself efficiently and that will affect your mindset. Even if you are in a cheap city and only need 30-40k$ a year to live, you'll never make 40k$ a year with 10k$ deposit without having a huge chance of blowing up.

Hence, most brokers won't even book you if you have a 10k$ account, i.e. they'll trade against you.