For example how come so many charge 2.50 per side for the YM? It only costs them 85 cents + 1 cent to clear, so they make .86 X 2 = 1.72 - $5 = $3.28 per round. Sure depending on clearing relationships they might be paying a tiny bit more, but even still they will make a guaranteed killing on large volume accounts. Even if they charged 3.00 per round, they would make 1.28 x 1000 = $1280 on an account doing 1k rounds per month. So why is it I can't find any brokers offering 3 bux a side for 1k volume accounts? 1280 USD a month profit on just 1 customer account isn't enough for the greedy bastards? Not to mention the money they make collecting interest on deposits?
Futures brokers are greedy bastards
- Thread starter kxvid
- Start date
Its the cost of doing business. Working ladies have to buy lipstick, high heels, lingerie and lotsa cigarettes.... 
What l can't stand is poor execution and silly hidden charges like fees for withdrawls. Feel sorry for folks who pay a management fee in managed futures programs to a bunch of clueless gamblers !!!
What l can't stand is poor execution and silly hidden charges like fees for withdrawls. Feel sorry for folks who pay a management fee in managed futures programs to a bunch of clueless gamblers !!!
Complaining about a $5 r/t rate ? TOS charges $7 per r/t. And what about 10 years ago, remember those exhorbitant commission rates back then ?
I think you are forgetting their tremendous overhead and cost of doing business.
If you find $4 per r/t at that volume, TAKE IT.
Oh, and speaking of greedy businesses, you must not have heard about the temp employment placement business. For instance, they charge a client $65 per hour for your services, you must do the ugly commute and pay for gas, tolls, parking, and maintenance. For this privilege, they give you $35/hr and net $30/hr for themselves. After 6 months of work, they've made $30,000 ...and their only effort was maybe a few phone calls. And by the way, you get no benefits, no bonus, no perks, no pension, no insurance, no nothing. But they do take taxes out of your pay as well...so you really net about $20/hr. How is that for greedy ?
Clueless gamblers? That's a bit harsh.
Quote from Cygnus Atratus:
Its the cost of doing business. Working ladies have to buy lipstick, high heels, lingerie and lotsa cigarettes....
What l can't stand is poor execution and silly hidden charges like fees for withdrawls. Feel sorry for folks who pay a management fee in managed futures programs to a bunch of clueless gamblers !!!
Or a 106R or 106V ECM membership on CME. Its out there, you just have to do some research and do not take the Retail F@ck job the exchanges here in the US try to pass on to retail customers. Eurex does not do this to member or non members who pay the same. Thus, I trade alot of Eurex during the US hours that correlate to US markets and get the extra euro currency gains on profits, plus lower fees for the managed account that I run.
There is only 1 exchange, there is only one CME
Any Trader doing over 100 Contracts per side should consider
CME memership Rule 106-R ( ECM-W ), to save money on Exchange Fees, You could save ~~~ how much
Regular CME Exchange Fee is NQ. ES = 1.14
with ECM-W you will pay 0.64 So saving = 0.50
Also you could save a lot on the CME exchange Fee
if you trade Currency Futures with this ECM-W
Anybody serious about this saving Business can
contact me.
CME memership Rule 106-R ( ECM-W ), to save money on Exchange Fees, You could save ~~~ how much
Regular CME Exchange Fee is NQ. ES = 1.14
with ECM-W you will pay 0.64 So saving = 0.50
Also you could save a lot on the CME exchange Fee
if you trade Currency Futures with this ECM-W
Anybody serious about this saving Business can
contact me.