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Finding a compatitive future broker
- Thread starter lianjieman
- Start date
are you nibbling on few ticks in high frequency?
Quote from jeb9999:
That is one of the problems of looking for brokers with the lowest rates, they may not do everything that you are looking for.
There is another broker that offers a $3.30 RT rate on index futures with no platform fee, but I would be wary of them. Zumo Futures is an introducing broker for Farr Financial. Farr Financial doesn't get good reviews.
Most futures brokers don't publish commission rates because they base their rates on your account size, monthly volume and your experience or lack thereof.
Infinity Futures is an introducing broker for TransAct Futures. You have to call them for commission rates.
Amp Futures and Mirus Futures are two other firms you have to call for commission rates.
Jeb,
I appreciate your recent posts with respect to Zumo, and just wanted to clarify on this earlier one. We are a seperate entity from Farr Financial. I'm sure there will be good reviews soon enough with respect to Zumo on ET. We have just begun our sponsorship, and hope to create a name worth recognition.
We are proud to publish our commission rates, on a NON sliding scale. No minimum volume requirements.
Once again, thanks for clarifying things for other users on other posts.
Quote from lianjieman:
Thanks jeb9999 for your info.
I didn't chose Zumo because of the reason post in this thread-->http://www.elitetrader.com/vb/showthread.php?s=&threadid=168607. I am reluctant to go with brokers who are not upfront with their commssions schedule. I chose FuturesBroker.com right now based on my situation.
Lian,
The fine print is from our legal department, and I can see why it would turn you off. But for confirmation, we do not currently charge any additional fees, and if we were to begin doing so, we would provide ample notice beforehand. Given our aggressive price structure, we do reserve the right to possibly charge a max. of $300/mos for receiving access to both our software based and web-based trading platform. This includes data/charting to ALL exchanges. With respect to changing fees from time to time, it would be industry wide (change from the exchange)
Not sure if you're paying any data fees with your current broker, but if you save even $1 by switching to us, and manage to trade at least 300 rounds a month, then the cost basis alone should be convincing enough. That is IF we do begin charging monthly. Worst case scenario, you can switch to us and save some money for the forseeable future.
Feel free to contact me if you have any inquiries.
It would persuade me to switch only if you can guarantee that you will not charge any additional fees (except fee change from the exchange) for at least first nine months. Please feel free to PM me.Quote from Khallihan:
Lian,
The fine print is from our legal department, and I can see why it would turn you off. But for confirmation, we do not currently charge any additional fees, and if we were to begin doing so, we would provide ample notice beforehand. Given our aggressive price structure, we do reserve the right to possibly charge a max. of $300/mos for receiving access to both our software based and web-based trading platform. This includes data/charting to ALL exchanges. With respect to changing fees from time to time, it would be industry wide (change from the exchange)
Not sure if you're paying any data fees with your current broker, but if you save even $1 by switching to us, and manage to trade at least 300 rounds a month, then the cost basis alone should be convincing enough. That is IF we do begin charging monthly. Worst case scenario, you can switch to us and save some money for the forseeable future.
Feel free to contact me if you have any inquiries.
Quote from Khallihan:
Lian,
The fine print is from our legal department, and I can see why it would turn you off. But for confirmation, we do not currently charge any additional fees, and if we were to begin doing so, we would provide ample notice beforehand. Given our aggressive price structure, we do reserve the right to possibly charge a max. of $300/mos for receiving access to both our software based and web-based trading platform. This includes data/charting to ALL exchanges. With respect to changing fees from time to time, it would be industry wide (change from the exchange)
Not sure if you're paying any data fees with your current broker, but if you save even $1 by switching to us, and manage to trade at least 300 rounds a month, then the cost basis alone should be convincing enough. That is IF we do begin charging monthly. Worst case scenario, you can switch to us and save some money for the forseeable future.
Feel free to contact me if you have any inquiries.
Sort of OT but do you offer any API access? Also how does your data feed compare to the market leaders like ZenFire?
Thx.
Quote from lianjieman:
It would persuade me to switch only if you can guarantee that you will not charge any additional fees (except fee change from the exchange) for at least first nine months. Please feel free to PM me.
Lian,
We have since modified our platform fee structure. If you have an account below $15k, you are charged $89/mos, otherwise no charge. Maintain your net liquidating balance above $15k and I can guarantee no charge for as long as you like. No additional fees. Everyones asked for it, and we've delivered.
Quote from PlusMinus:
Sort of OT but do you offer any API access? Also how does your data feed compare to the market leaders like ZenFire?
Thx.
API is currently being tested by some of our clients, and we will have it ready to deploy to the public shortly.
Data feed is top of the line, test out a demo. You'll have access to our real-time feed. Also have the ability to increase/decrease bandwidth directly from our Firetip software under 'settings/quotes'. Not offered by any other provider.
Maintain your net liquidating balance above $15k everyday or just end of the month? Please clarify it.Quote from Khallihan:
Lian,
We have since modified our platform fee structure. If you have an account below $15k, you are charged $89/mos, otherwise no charge. Maintain your net liquidating balance above $15k and I can guarantee no charge for as long as you like. No additional fees. Everyones asked for it, and we've delivered.