Transact Futures - YM

[frugi]

I am fed up paying approx $3.96 in fees per round trip/lot (for YM) and am considering moving broker to reduce my costs.

I have been quoted $2.74 by Transact Futures for volume of about 50 round trips per day (e.g 10 trades of 5 lots) which seems pretty good. In fact I'd only need to do 394 r/ts a month to get this price = about 20 per day. Margin requirements are low and being in the UK is no problem.

I am also considering leasing a seat at CBOT for $150 a month to try and reduce my costs further.

I am finding the CBOT fee schedule a little confusing and cannot work out exactly what I'd pay in exchange fees etc but it looks like it may be possible to get as low as $1.60 per r/t using this route, which would be brilliant.

Does anyone have experience of the seat lease application process, Transact Futures in general (including their platform and Trademaven) or anything else relevant? Essentially I want to know how much hassle the application process is and what is the lowest all-in round trip fee I can expect to pay. Cheers.

PS I have read some threads on ET about this but I was especially interested in UK residents who may have followed this route.

 

[Calypso]

Frugi,
I don't trade YM but from my experience as a remote trader commission fees per RT start at 50c and decrease as you do more volume. It's the CBOT exchange&clearing fees that are expensive. Now to reduce this you could contact another clearing firm like Advantage Futures in the US, or many of the UK clearers to see what sort of structure they have for remote traders. Another option is to contact some of the UK arcades and ask them what they can offer you and whether they support remote traders.

I am fed up paying approx $3.96 in fees per round trip/lot (for YM) and am considering moving broker to reduce my costs.

I have been quoted $2.74 by Transact Futures for volume of about 50 round trips per day (e.g 10 trades of 5 lots) which seems pretty good. In fact I'd only need to do 394 r/ts a month to get this price = about 20 per day. Margin requirements are low and being in the UK is no problem.

I am also considering leasing a seat at CBOT for $150 a month to try and reduce my costs further.

I am finding the CBOT fee schedule a little confusing and cannot work out exactly what I'd pay in exchange fees etc but it looks like it may be possible to get as low as $1.60 per r/t using this route, which would be brilliant.

Does anyone have experience of the seat lease application process, Transact Futures in general (including their platform and Trademaven) or anything else relevant? Essentially I want to know how much hassle the application process is and what is the lowest all-in round trip fee I can expect to pay. Cheers.

PS I have read some threads on ET about this but I was especially interested in UK residents who may have followed this route.