Remote trading, Eurex and CME. Index futures and Bund/Bobl/Schatz. Using X-trader Pro. 30-50 lots per month. Discounts on news etc. Either post or PM me suggestions and contact names/numbers. I've been trying to ring around a bit and it's surprisingly difficult to get ahold of people!
charliechan
Experienced member
- Messages
- 1,008
- Likes
- 119
if youre doing 50 lots a month, why use x-trader? hammer & nut. youd surely be better using something like j-trader at much less cost? its also more reliable for remote trading (over internet). try man, berkeley, etc
theroguetrader
Well-known member
- Messages
- 407
- Likes
- 36
what do you mean by " clearing " ..? are you a member of those exchanges?
or are you looking at platforms to try..?
Since I'm too small (I think) to have an account by myself with someone like Fortis or Fimat, I need someone to go through to get them to clear my trades. For this they'll tack on their own commission fee on top of the clearing fee. You're welcome to enlighten me if I'm mistaken
theroguetrader
Well-known member
- Messages
- 407
- Likes
- 36
Since I'm too small (I think) to have an account by myself with someone like Fortis or Fimat, I need someone to go through to get them to clear my trades. For this they'll tack on their own commission fee on top of the clearing fee. You're welcome to enlighten me if I'm mistaken
sorry, your misunderstanding what i was saying - i dont know if your " mistaken " or not - that wasnt were i was coming from -
Im not sure what you mean " clear your trades "..?
Are you looking for a platform/broker..?
theroguetrader
Well-known member
- Messages
- 407
- Likes
- 36
sorry, im still confused - Brokers, Arcades a " trading company " - (bit vague) or a clearer are different entities with different functions -
are you a company or an individual person..?
Well, lol, if for nothing else than just bumping the thread let's keep this going:
Yes, they all can have different functions - or rather exist for different reasons. But they also share one specific function: Access to markets - right?
An (online) broker charges a fat commission and targets retail traders, but could of course accommodate a pro as well - the question is would they be willing to do this at pro rates.
Definition discussions aside pls, an arcade is usually a place where you hire a desk and trade your own money - some also offer remote access. The idea is to pool together to get cost down, and for the owners to make something extra.
With a "trading company" I meant companies focusing on trading company capital - or "prop" if you will. However, many companies offer both backed deals and the chance to trade your own capital with them just providing infrastructure - similar to the arcades. I purposely didn't write "prop" because that's not what I'm looking for, but rather companies who are a blend of what used to be distinct categories.
I'm an individual trading through my own, fully owned ltd. Hope it's clearer now. And ahem... all three categories would help me get my trades "cleared"
Yes, they all can have different functions - or rather exist for different reasons. But they also share one specific function: Access to markets - right?
An (online) broker charges a fat commission and targets retail traders, but could of course accommodate a pro as well - the question is would they be willing to do this at pro rates.
Definition discussions aside pls, an arcade is usually a place where you hire a desk and trade your own money - some also offer remote access. The idea is to pool together to get cost down, and for the owners to make something extra.
With a "trading company" I meant companies focusing on trading company capital - or "prop" if you will. However, many companies offer both backed deals and the chance to trade your own capital with them just providing infrastructure - similar to the arcades. I purposely didn't write "prop" because that's not what I'm looking for, but rather companies who are a blend of what used to be distinct categories.
I'm an individual trading through my own, fully owned ltd. Hope it's clearer now. And ahem... all three categories would help me get my trades "cleared"
theroguetrader
Well-known member
- Messages
- 407
- Likes
- 36
Well, lol, if for nothing else than just bumping the thread let's keep this going:
Yes, they all can have different functions - or rather exist for different reasons. But they also share one specific function: Access to markets - right?
An (online) broker charges a fat commission and targets retail traders, but could of course accommodate a pro as well - the question is would they be willing to do this at pro rates.
Definition discussions aside pls, an arcade is usually a place where you hire a desk and trade your own money - some also offer remote access. The idea is to pool together to get cost down, and for the owners to make something extra.
With a "trading company" I meant companies focusing on trading company capital - or "prop" if you will. However, many companies offer both backed deals and the chance to trade your own capital with them just providing infrastructure - similar to the arcades. I purposely didn't write "prop" because that's not what I'm looking for, but rather companies who are a blend of what used to be distinct categories.
I'm an individual trading through my own, fully owned ltd. Hope it's clearer now. And ahem... all three categories would help me get my trades "cleared"
" Im an individual trading through my own fully owned Ltd " !! -
This fully owned Ltd company will just affect your TAX POSITION more than anything - and will still be classed as retail...!!
You maybe getting a bit confused with the classification of " trading capital " - it doesnt matter if its a few quid outta your own back pocket or thru the books of a Ltd company - you/the entity called Ltd/LLP or whatever you want to call it, the company will still be classed as RETAIL anyway ..... !!
Assuming OP is serious about those volumes.
If a significant proportion of that 30-50K contracts/month will be CME/CBOT then given their huge difference between member and non-member rates you'll need to either lease an exchange seat or join one of their incentive programs (European incentive or Asian incentive etc.) to get descent rates. Talk to the exchanges who'll be happy to give you contact details of firms and eligibility/qualification to either lease a seat or join one of those programs.
If a significant proportion of that 30-50K contracts/month will be CME/CBOT then given their huge difference between member and non-member rates you'll need to either lease an exchange seat or join one of their incentive programs (European incentive or Asian incentive etc.) to get descent rates. Talk to the exchanges who'll be happy to give you contact details of firms and eligibility/qualification to either lease a seat or join one of those programs.
theroguetrader
Well-known member
- Messages
- 407
- Likes
- 36
EXACTO...... !!
Thats why i wasnt sure if he was serious about those volumes - i was thinking if he was, he should KNOW already how to package it all and get good rates etc etc...
He just needs an account with an IB who in turn has a clearing house guarantee - !!
Youd need to be doing those amounts per DAY to even want to worry bout all that stuff - PLUS hed need access to the " front end " and the fees for the technology alone would be HUGE - !! - VERY .... !! :-0
The Ltd company hes got (which can be done on line for 30 quid same day/or shelf 10 mins) - whose gonna guarantee its trades..? (which are ultimately coming from him)..?
If he/the company hes got is after a membership - its going to have to have a LONG trading history and a BIG - CHECKABLE/AUDITED balance sheet - his life, and his companies history will be so microscopically examined by the CFTC and the FBI, hell probably think - why bother..?
(and all that would be BEFORE he should be thinking about " clearers " ...!!
" Im an individual trading through my own fully owned Ltd " !! -
This fully owned Ltd company will just affect your TAX POSITION more than anything - and will still be classed as retail...!!
You maybe getting a bit confused with the classification of " trading capital " - it doesnt matter if its a few quid outta your own back pocket or thru the books of a Ltd company - you/the entity called Ltd/LLP or whatever you want to call it, the company will still be classed as RETAIL anyway ..... !!
Yes, that's right. I was just explaining that technically I wasn't trading as an individual. Yes, it's partly tax reason and also to (theoretically, for the most part) to limit risk in the event of an adverse 8% move whilst in the gents.
Thats why i wasnt sure if he was serious about those volumes - i was thinking if he was, he should KNOW already how to package it all and get good rates etc etc...
He just needs an account with an IB who in turn has a clearing house guarantee - !!
Youd need to be doing those amounts per DAY to even want to worry bout all that stuff - PLUS hed need access to the " front end " and the fees for the technology alone would be HUGE - !! - VERY .... !! :-0
The Ltd company hes got (which can be done on line for 30 quid same day/or shelf 10 mins) - whose gonna guarantee its trades..? (which are ultimately coming from him)..?
If he/the company hes got is after a membership - its going to have to have a LONG trading history and a BIG - CHECKABLE/AUDITED balance sheet - his life, and his companies history will be so microscopically examined by the CFTC and the FBI, hell probably think - why bother..?
(and all that would be BEFORE he should be thinking about " clearers " ...!!
I know EXACTO how it should work and be packaged, so I'm only looking for that partner who can get me the clearing and has (access to) the TT gateway etc. But the thing is, any old IB will screw me on the rates. I'm looking for one of those select few companies that are at near-cost with that special relationship with Fortis, MF Global, Fimat. Saving €0.10 extra per lot is €5.000 per month on 50k lots. Interactive Brokers (cheap retail) would charge €0.45 (avg) for commission+clearing on 50k lots per month, without exchange fees. If I can get this to €0.15 or less, I'm already saving €15.000 per month. Now, am I making sense here?
I'm kind of surprised about all the explaining here - this should be wellknown for readers of this forum. But I realise I may have been unclear about what I'm looking for. (?)
fifty2aces
Well-known member
- Messages
- 452
- Likes
- 127
Have you heard of TCA (Traders' Clearing Alliance)? They might be able to help you out - not sure what they charge, but I think they're pretty cheap.
theroguetrader
Well-known member
- Messages
- 407
- Likes
- 36
I understand where your coming from, but you keep asking about clearing etc..? Well whose going to guarantee " YOUR " trades with a clearing firm..? Like (gc1) was saying, how are you going to have a relationship with a " clearer " if you or your company isnt an exchange member..?
