cheapest futures commission

I know of an IB out of Chicago that can beat anyone. They have a great relationship with GNI who clear mostly floor traders.
At first I thought everyone could get a $4.00 or under rate- but now I understand it's based on volume. They also have ways of working under a 106-J umbrella to really getting the RT's down. There are a few traders currently trading 300-1000 cars per day and they are getting unbelievable rates with stellar service. I know they can support TT's X-Trader, Prop Trader, GL and Leoweb. Let me know if you are interested and I will forward the info on to you. I am a former local in the S&P Pit and I currently turn for around $4.00. Check out the link below and you can see how CME Seat owners get a deep-dish discount. IB is low but try to get in touch with them if you have a problem. HA!



http://www.cme.com/risk_management/clearing_house/106firmfees.cfm

:)
 
"We currently pay $2.64 a round turn. To lower your rates you have to get away from the typical broker situation and move to a clearing firm that deals with professional traders. All rates are individually negotiated, based on volume, capital, trading style, risk, etc.. What you are missing in your $.66 number is a nonmember or customer fee."

I would be grateful for a list of clearing firms that might deal in this way for globex index emini products.

Thanks
 
I am looking for a broker with the lowest commissions for the mini's. Has anyone come up with a list of brokers that offer the best commissions for trading the mini's and other contracts?
 
Quote from ToTrade:

I am looking for a broker with the lowest commissions for the mini's. Has anyone come up with a list of brokers that offer the best commissions for trading the mini's and other contracts?
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FFastFill for large/active traders and Interactive Brokers for small/infrequent traders. The difference is due to FFastFill's fixed software cost but lower commissions. IB has only a small data fee, otherwise it is all variable cost.

FFastFill and IB are the sponsors of the Trading for a Living forums right here on Elite Trader -- give them a click!
 
Should also add when considering a futures broker you should think about account protection and product depth/breadth. Via IB, all excess cash at days end is xferred into the securities account which has SIPC and $10 million USD in insurance protection. Futures accounts by themselves are not insured.

In addition, via an IB account you have the additional flexibility to trade stocks and other futures world wide from the same account and screen.
 
metoxx- are you referring to a prop futures firms in which you trade as an employee of the firm effectively at member rates, using the firm's membership? Is this what is meant by a 106 firm? Or are you a member yourself, just using another firm to clear your trades?
 
Just curious, has anyone negotiated a lower rate for futures with IB? I figure they have about 50 cents a side to work with for volume traders.
 
Quote from PuffyGums:

Just curious, has anyone negotiated a lower rate for futures with IB? I figure they have about 50 cents a side to work with for volume traders.
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you'll have to be talking very serious institutional size for it even to be considered.
 
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