Commission Structure

C

CoolTrader

An IB with Refco has the following commission for e-minis: commission: $17, clearing fee: $1.28, exchange fee:$1, NFA fee: $0.04.
I am trying to understand it. Who takes the clearing fee? Is the $17 split between the broker and Refco?
 
Originally posted by CoolTrader
An IB with Refco has the following commission for e-minis: commission: $17, clearing fee: $1.28, exchange fee:$1, NFA fee: $0.04.
I am trying to understand it. Who takes the clearing fee? Is the $17 split between the broker and Refco?
More...

The IB gets the $17 and Refco gets the $1.28.
 
CoolTrader


I suspect you mean $7, but as you said a $1 for the exchange fee, that would mean per side, and i mean $7 per r/t - if you are paying $17 per side or per r/t - you need to do some research - and it may indicate you should check wether you are ready to trade
 
The charges for a customer E-Mini, one side are:

Globex Customer Fee $0.50
Globex System Fee $0.25
CME Clearing Fee $0.39

Subtotal one side $1.14
Total R/T $2.28

Plus

NFA Fee Don't remember but not much
Clearing Firm Fee ???? Negotiable, $0.05 per
side and up
IB ???? Negotiable, if
you need one.
 
Here are the REAL E-Mini fees per side:

Clearing: .39
NFA: .02

Anything else is made up by the system vendor, broker or FCM.

Craig
ApexFutures.com
 
The commission I mentioned is per r/t. metooxx's reply conforms to the numbers I provided. The $17 should be split between Refco and the IB.
Craigross, you have a different answer. How do you explain the numbers given by metooxx?
 
There is no such thing as a Globex System Fee or Globex Customer Fee. They are made up by the broker! There is only commission, clearing and NFA on Minis.

Craig
 
craig ross

i know you are on here to publicise your brokerage co, but your direct and knowledgable comments are really really useful, unlike some of the lunatic experts on here and those promoting miracle trading systems

any forum needs real experts so people can get real information - just like the guy who i think is called Def - who seems to really help out with IB problems without promoting anything
 
Originally posted by craigross
There is no such thing as a Globex System Fee or Globex Customer Fee. They are made up by the broker! There is only commission, clearing and NFA on Minis.

Craig
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I think it gets confusing because alot of brokers try to pass fees for using JTrader or another ISV as "clearing " fees.

Kudos to you Craig for shining a light on these fees.

I think the futures brokers that move towards publishing their fee schedules on their websites will benefit the most in coming months. Just look at Interactive Brokers.

All the stock daytrading firms post their fees on their website. I think it is high time the futures firms move to do the same. All the haggling is pretty pointless. Not to mention that it lowers the respectability of the futures industry imo.
 
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