Exchange Fees

[iainpw]

Could anybody tell me how much Exchange fees are for the NYSE, NASDAQ & AMEX ?

Are the S+P & DOW both on the NYSE ?

Are there fees for the LSE and other European Exchanges ? (I'm thinking of the German Exchange for the DAX)

Any help would be appreciated as i can't find this information anywhere.

Cheers........Iain

 

[Skimbleshanks]

The exchange fees for the NYSE, Nasdaq, OPRA and AMEX are $1 per month per exchange. So Nasdaq and NYSE would cost you $2 per month. Some providers charge an administration fee for handling.

I pay $2 per month for Nasdaq (this includes the handling fee charged by Qcharts), and I can get the Dow Jones real-time on that sub.

The S&P cash index is an additional 50 cents per month.

I don't know about the European exchanges.

 

[900xs]

Exchange fees

For trading something like FTSE Futures:

Fees are:

Exchange fee is £0.25p per side, i.e. £0.50p per RT (Round Turn = 1 contract buy and 1 contract sell)

plus:

LCH (London Clearing House) fee is £0.03p per side, i.e. £0.06p per RT

plus whatever your broker charges (for platform and "clearing" fees)

LIFFE have high charges............Eurex (Dax) is cheaper, look at their website or give them a call.

xs

 

[iainpw]

Thanks for the replies - It's no major cost by the sounds of it.
Since only AMEX, NASDAQ & NYSE are mentioned on Mytrack i'll take it that i will pay $3 for those 3 and nothing for the European Exchanges.
The Futures fees are not really what i'm after 900xs but i will bear them in mind for future use - thanks anyway.

Skim - Do Qcharts cover European Stocks/Indices ? At the moment i can only find Mytrack that covers European Stocks/Indices in Realtime.

Cheers........Iain

 

[jpwone]

iain

There is a charge for the European exchanges and it is relatively expensive when compared with the US. From memory the FTSE index is about $11 per month (just for the indices value) and the Ftse constituents are an extra couple of dollars per month. If using mytrack the full list is in the 'Entitlements' section which is in the 'Chat' section. never did understand that bit. Don't click on anything or put a tick in a box without being absolutely sure you want it as some of the options are not cheap and once you have clicked you are committed for a month minimum. They will reset it if you contact them immediately in the chat forum if you make a mistake.

 

[theknifemac]

Thanks for the replies - It's no major cost by the sounds of it.
Since only AMEX, NASDAQ & NYSE are mentioned on Mytrack i'll take it that i will pay $3 for those 3 and nothing for the European Exchanges.
The Futures fees are not really what i'm after 900xs but i will bear them in mind for future use - thanks anyway.

Cheers........Iain

Iain

You need to look under European exchanges in Chat -> Entitlements

GSE is $30, Eurex $11, LSE $8, LSE Intl $4 etc... I have also seen people complain about the quality of MyTrack EOD data for the UK, I think they take the last trade price for the close rather than the official close from the auction period. Have no feel right now for the quality of their RT UK or European data but I know that people are using it.

HTH

Stew

 

[iainpw]

Thanks for that jpwone.
Good job you told me i was going to add all the FTSE300 shares and a few European Indices - it would of cost me a fortune!!!!!!
May have to rethink whether it is worth me getting Mytrack now as i was more interested in FTSE stocks. It may be worth opening an account with IB and just buy a few shares each month to get the datafeed.

Iain

 

[iainpw]

theknifemac,
Am i correct in saying i need to subscibe to Mytrack to see 'Chat -> Entitlements' ?
I've not subscibed to them yet - just downloaded the software.
I've noticed it doesn't mention the delayed feed installation just the Silver, Gold & Platinum.

Iain

 

[Skimbleshanks]

Skim - Do Qcharts cover European Stocks/Indices ?

No.

 

[iainpw]

Doesn't seem many Realtime data feeds cover the European Stuff.
I think i'm leaning towards IQFeed at the moment instead of Mytrack, i think i will forget the FTSE350 stocks and just look at the main indices and one or two American stocks. I can probably do what i want on EOD charts for the FTSE350 stocks.

Iain

 

[theknifemac]

theknifemac,
Am i correct in saying i need to subscibe to Mytrack to see 'Chat -> Entitlements' ?
I've not subscibed to them yet - just downloaded the software.
I've noticed it doesn't mention the delayed feed installation just the Silver, Gold & Platinum.

Iain, you don't need to subscribe to see the chat stuff, on your main myTrack window, hit the Chat button, then when the chat window appears go to entitlements and select European exchanges. To get real time data you need to pay for at least the Silver feed I think. Or you can leave myTrack as it is and you will have delayed data (not sure how long the delay is, think it is exchange dependent).

Re your later post, you could use IB but would need to fund your trading account.

Hope this helps.

Stew

 

[iainpw]

theknifemac,
Thanks for that - i've found it now. I hadn't loaded Mytrack until now because i thought i had to pick the package i wanted first. It appears the delayed feed is free - the website gives a price of $5 per month.
LSE is $8 and LIFFE $40 realtime.
As for IB - yes i know it is £1500 to open an account. What i was trying to say was i didn't wan't to trade futures at the moment on IB until i feel more confident to increase my stake sizes. Although, if i could trade a few shares on IB i could probably get free Realtime data and wouldn't need another realtime datafeed.

Iain

 

[theknifemac]

theknifemac,
Thanks for that - i've found it now. I hadn't loaded Mytrack until now because i thought i had to pick the package i wanted first. It appears the delayed feed is free - the website gives a price of $5 per month.
LSE is $8 and LIFFE $40 realtime.
As for IB - yes i know it is £1500 to open an account. What i was trying to say was i didn't wan't to trade futures at the moment on IB until i feel more confident to increase my stake sizes. Although, if i could trade a few shares on IB i could probably get free Realtime data and wouldn't need another realtime datafeed.

Iain

Iain you can see how much MyTrack will actually charge you from the chat module, there is an option to view your current and past bills, don't have it open so can't remember the title.

Cheers

Stew

 

[knorrie]

You could consider opening a trading account with MyBroker in the UK. If you trade with them a minimum of once a month, they pay for the MyTrack real-time Silver plan, plus the exchange fees for LSE, NYSE and NASDAQ, which saves you $28.50 + VAT pm. They are not the cheapest broker by any means, but $15.95 for a US trade isn't the most expensive either.

I have done this in the past and may do so again in the future. Currently I'm not using MyTrack, and have turned off the Silver plan, but kept my account open and pay nothing.

MyTrack's faults are legion, but for me, as a position trader and only occassional short-term trader, shelling out the bucks for something like eSignal isn't worth it. I would suggest you do a search on T2W for 'MyTrack' though to see the sort of problems there are with their service, and if you could live with them yourself.

KenN

 

[iainpw]

Hi Knorrie,
I presume by one trade you mean either 1 buy or sell, not the round way trip.
I understand what you mean regarding the problems with Mytrack as i've read all about them. However, for what i want they would probably do for now until i get going, they are cheap and cover all the markets i want. Like you as a position trader they would probably suffice.

Iain

 

[knorrie]

iainpw - yes only one side not the round trip. Even if you don't trade in a month, but keep the Silver plan switched on, they only levy a $20 inactivity fee, which is less than the benefit you get.

MyBroker have also recently announced some major changes planned in the coming months, but haven't released many details yet. Not long ago they introduced CFDs, they were always pretty good for options and are apparently about to add a spreadbetting service. I hope they also reduce their commissions. Worth keeping an eye out for anyway.

KenN

 

[iainpw]

Knorrie,
I'll look into the Mybroker side of things - I presume that you can still only track 20 shares realtime with Mybroker, unless you pay extra for more tickers.
I'll try and find out more about them before i decide what to do.

Iain

 

[knorrie]

Yes there is a 20 ticker limit in the MyTrack application and many other 3rd party applications using MyTrack, but not for example if you SierraChart - where the limit is 500 - and possibly also AIQ.

I've sent you a PM with more details about all this, if anyone else is interested just say so and I'll post it here.

KenN

 

[theknifemac]

Yes there is a 20 ticker limit in the MyTrack application and many other 3rd party applications using MyTrack, but not for example if you SierraChart - where the limit is 500 - and possibly also AIQ.

I've sent you a PM with more details about all this, if anyone else is interested just say so and I'll post it here.

KenN

Ken, I'm interested

Cheers

Stew

 

[knorrie]

OK Stew, here's what I sent to Iain. BTW if anyone knows what the ticker limit is with the Silver plan on AIQ, please let me know.

What the 20 ticker limit refers to is the maximum number you can continuously monitor at the same time, but there are exceptions (bear with me). MyTrack covers pretty much every listed UK stock, not just the FTSE 350, so you can select any 20 from these. For example, the MyTrack application has a monitor or watchlist in the main window. With the Silver plan, you can add a maximum of 20 tickers to this list, plus one extra for immediate quotes.

However, this isn't the end of the story. You don't have to just use MyTrack - I noticed on another thread you want to use the MyTrack feed into Tradestation. I'm pretty sure this means you have to enable the MyTrack SDK, which is an interface that many 3rd party trading applications use. Unfortunately, this costs $99 per month and the 20 ticker limit does strictly apply (it used to be $25 but they put it up at the end of last year).

But there are other options. SierraChart is a very popular, low cost charting app (and you can get a discount at the T2W shop too), which has a special interface to MyTrack. This doesn't use the SDK, costs $25 per month, and overrides the 20 ticker limit - I think it's actually 500. Have a look at:

www.sierrachart.com

However, the main reason I keep my MyBroker/MyTrack account open is that they also have a complete charting/trading package called AIQ. I was using this about 15-18 months ago and I think it is superb. It's got the lot - real-time/historical US/UK/Eur datafeed and charts, portfolio tools, backtesting, sample systems, market timing reports, correlation analysis yada yada. Many hardcore day-traders prefer the charting in SierraChart, but for me their real-time alerts tool, which lets you have multiple charts and continually scans for system setups, trendline breaks whatever, is the dogs b*ll*ks.

AIQ costs $59 per month - it's basically a rental scheme, and you get regular software updates included. When you think that to use Sierra with MyTrack costs $25 just for the data, and that doesn't include the cost of the app £60 pa or whatever, and you get all this for another $34 pm, it's a good deal. Plus you can just turn the thing on or off on a month by month basis, and don't pay if you're not using it (which is me at the moment, but I will resume using it if I get the chance to spend more time short term trading).

Now I can't confirm this, but I don't think AIQ imposes the 20 ticker limit either. Certainly I had a watchlist up with about 80 tickers running while I was using it, and it didn't complain.

Anyway they have a trial scheme, have a look at the UK site:

www.aiqsystems.co.uk

Give Bob Debnam, the UK rep a call if you're interested, he's very helpful and can probably tell you about the Silver plan limit with AIQ. He also provides an e-mail UK EOD data cleanup service for MyTrack (not just spikes/errors, but splits/consolidations/renames etc.)

BTYW you need to add VAT to all prices I'm afraid

KenN