CGQ and Rithmic fees for CME micros at AMP

M

Millionaire

CME rip us off by charging 20% of mini fees for micros when they should be charging 10%.

However it seems that CGQ and Rithmic charge 100% the same fees for both micros and minis. 10 cents per contract. No reduction for the micros.

@AMP_Global, you need to get these firms to reduce this fee a bit. It should really be 2 cents but i will be happy with 5 cents.
 
greedy brokers and greedy execution platforms. the fees im all futures are ridiculously large. if trading micros you are way better off trading 50 spy with zero fees and only 1 cents slippage..matbe 2 cents but even 2 cents is cheaper without any fees!!

1 tick es micro= 1.25 dollars
1 cent tick 50 spy 50 cents.
2 cent tick 50 spy 1 dollar

so lets compare with fees.
amp .74 cents all in round turn on a 1 lot micro es.
slippage usually 1 tick but very often 2 ticks
1 tick in 1 tick out = 2.50 slippage plus .74
total cost= $ 3.24 !! or 3.24/1.25= 2.6 ticks

50 spy 1 tick slippage= 1 cent so 50 cents in and 50 cents out= 1 dollar!! there is no commission either or fees for execution

you are paying $ 3.24 in micro es vs $ 1.00 in spy.

if 2 ticks in spy you pay 2 dollars still cheaper than cme at 1 tick.

lets average and say our slippage buying is 1 tick and our slippage selling is 2 ticks.

cme e micro= 1.25+2.50= 3.75 plus .74 commission n fees= $ 4.49 round trip cost to make a micro trade. this is almost 1 full point!! or
4.49/1.25= 3.59 ticks to break even!!

spy 50 shares avg. slippage roundturn of 3 cents=
$ 1.50 total!!! that is 1 cent on the buy and 2 cents on the sell.. so comparing to cme

1 es= $ 4.49 total cost on average for a mkt roundturn
50 spy = $ 1.50 for a mkt roundturn

4.49/1.50= $2.90 cents more expensive at the cme! if you scalp and do 50 a day
2.9x50= 145 a day extra in fees or 2900 a month or 34,800 a year that would be 5 10 lots or 20 5 lots or 50...1 lots.

if using limit orders or stops then spy is the better choice because the minimum tick to guarantee a fill is only 1 cent!! versus the cme 1 tick!! which is $ 1.25!!

1.25 1 tick micro es /50 shares spy = 2.5 cents!!
the minimum tick size in micro es is actually 2.5 cents a tick!!

thats is why the hft can arb spy versus micro and mini!! cash vs futures.

spy gives you a serious price advantage!!

no leverage unless in a margin account buy trust me the fees in futures kill you if scalping especially on stops!!
 
also in spy. the odds or just chance that a mkt order come into it and pushes price into your limit is way better than at the cme where the hft have all the priority on the book.

hft can have 1000 micros at the 2nd level to sell...and keep reducing the level say to 500 then 100 pr even 1 and they keep their place in que!! they wont let the futures mkt move until they have enough information from the order book read by algos in the sub millisecond time zone. they just cancel and already know the mkt will tick up where they already have priority on the next level!!

Futures are very expensive to lsarn to trade that is for sure especially the micros ams the fees are going up!!!
 
tradeking007yahoo said:
50 spy requires 18,750 but who cares if you can make an extra 145 a day on every 50 trades..or save which is actually making
More...

Thanks for the suggestion i cant trade SPY or other similar ETFs in Europe, as they got banned here a few years ago.

Even if i could, margin for SPY it is just too high compared to futures, some times i build up a 25 lot position in multiple micros at the same time. 5 micro lots at a time.
 
Last edited:
Millionaire said:
Thanks for the suggestion i cant trade SPY or other similar ETFs in Europe, as they got banned here a few years ago.

Even if i could, margin for SPY it is just too high compared to futures, some times i build up a 25 lot position in multiple micros at the same time. 5 micro lots at a time.
More...

even more of a reason to trade the spy and iwm.
building those positions is costing you a ton in the futures in slippage and fees. all you can do is lease a seat. which if you really are trading 25 lot posituons daily then you would already know this as the fastest way to reduced fees.
 
tradeking007yahoo said:
even more of a reason to trade the spy and iwm.
building those positions is costing you a ton in the futures in slippage and fees. all you can do is lease a seat. which if you really are trading 25 lot posituons daily then you would already know this as the fastest way to reduced fees.
More...

Its only 25 micro lots. Which is the same as 2.5 mini lots. And i dont do many of those trades a day. I dont think i need exchange membership just yet.
 
Millionaire said:
CME rip us off by charging 20% of mini fees for micros when they should be charging 10%.

However it seems that CGQ and Rithmic charge 100% the same fees for both micros and minis. 10 cents per contract. No reduction for the micros.

@AMP_Global, you need to get these firms to reduce this fee a bit. It should really be 2 cents but i will be happy with 5 cents.
More...

NO COMMENT on FEES...But, we have previously asked...and they have responded, unfortunately our cost of providing and supporting the trade infrastructure does not change or reduce because the contract size traded is micro.

P.S. (we sending out notice to all our customers this week)
CME is increasing their Exchange Fee on the Micros Effective Feb. 1, 2021:
https://www.cmegroup.com/content/dam/cmegroup/notices/ser/2020/12/SER-8691.pdf
 
You must log in or register to reply here.
Back
Top