ES comissions

Quote from TraderZones:

just about any discount broker would chop that figure on your volume. Shop around, but don't go with a schlep organization, in these terrible times.

You should go with someone with a good rep, a long history, and some size to them. Stay away from the 3-man Introducing Brokers, in other words.

Someone like InteractiveBrokers or ThinkOrSwim wouldn't be bad.
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Isn't thinkorswim's rate also $3.50 per contract per trade?

What is the best ES broker overall considering everything including service, commission, margins?
 
Quote from legend4life:

Isn't thinkorswim's rate also $3.50 per contract per trade?

What is the best ES broker overall considering everything including service, commission, margins?
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The best broker for ES depends on a number of variables such as number of RTs a month, account size and platform/API requirements. The piker and the professional will have a different best broker.
 
Quote from jeb9999:

The best broker for ES depends on a number of variables such as number of RTs a month, account size and platform/API requirements. The piker and the professional will have a different best broker.
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That makes sense, thanks for a thoughtful reply. That said, any suggestions for a beginner with a small account trading one contract?
 
Quote from barnetda:

Just an update.

I contacted my broker and they dropped my fee to $5 per r/t.

While i accept that i could probably get as low as $3.50 i feel the service that i receive is worth the additional.

I just wanted to thank the posters here for the advice , it saved me a fortune going forward.

thank you.
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You are still getting rammed so hard. When I traded my HUGE 5 lot a day i was paying 1.90 per side and I never had a problem with connection or service. This was also over 2 years ago. You are trading 20x that. You should be paying around 3.25 for a RT.

I would trade with them for a couple of weeks and call around and ask a few companies what you can get for 200 RT a day in the ES. Get a quote and throw it in your brokers face. Tell them you are seriously considering changing brokers. Watch your commission drop.
 
$7-5 is nuts if you are actually doing that volume! You are gettting taken to the cleaners and coming out dirty. There are a few high quality vendors that can do better, easily and offer outstanding service.
 
Quote from larrybf:

maybe the whole thread is a fraud????
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I can assure you my thread is not a fraud!!

I will trade another week or so at that price and get it moved to a lower level. As ive said i like the platform and the service.

I averaged 186 lots per day last week in the ES. So it is an issue for surethanks for the info.
 
Quote from jrlvnv:

You are still getting rammed so hard. When I traded my HUGE 5 lot a day i was paying 1.90 per side and I never had a problem with connection or service. This was also over 2 years ago. You are trading 20x that. You should be paying around 3.25 for a RT.

I would trade with them for a couple of weeks and call around and ask a few companies what you can get for 200 RT a day in the ES. Get a quote and throw it in your brokers face. Tell them you are seriously considering changing brokers. Watch your commission drop.
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Who was your broker?
 
Quote from Susannah:

When I looked into leasing, it seemed that if you lease, the IRS then considers you a professional trader, and you need to file taxes that way. Even though the seat would save me commissions, it wouldn't make the self-employment taxes worth it.

Please correct me if I'm wrong here. It was a few months ago that I researched it, and got a little sidetracked before I could confirm all the stuff I found.
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There's a cap on the SE tax. Talk to an accountant and weigh the options. If you make a decent buck trading then it's beneficial to file as a professional
 
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