if using es as a reference, this is as low as $1.35 round turn ($0.68/side)
http://www.vcapfutures.com/futures-trading/futures-commissions.asp
http://www.vcapfutures.com/futures-trading/futures-commissions.asp
IB comm expensive ?
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To take one contract and its raw commission as an example seems hardly to do justice to even the commission question. What about exchange fees, extra purchases required?
This is the way that the honest loan sharks offer the same 6% that the banks offer but (lol) collect 48% per year from the poor suckers who buy the offer.
To quote a figure based on 5000 round turns a month might seem to some to be laughable especially when it seems to result in a non-member fee of 3.50 per round turn vs IBs one rt at about the same rate.
I've had a number of people tell me "we can beat IB" and sure enough in some small niche they might do but I've yet to have anyone offer me a comprehensive package that made it worth changing.
Thanks IB
This is the way that the honest loan sharks offer the same 6% that the banks offer but (lol) collect 48% per year from the poor suckers who buy the offer.
To quote a figure based on 5000 round turns a month might seem to some to be laughable especially when it seems to result in a non-member fee of 3.50 per round turn vs IBs one rt at about the same rate.
I've had a number of people tell me "we can beat IB" and sure enough in some small niche they might do but I've yet to have anyone offer me a comprehensive package that made it worth changing.
Thanks IB
def
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the quote they give has a "*" and says "based upon 5000 RT's per month".
FYI, after 1000 contracts - NOT round turns, IB's sliding scale would be $0.65 per contract and can slide down as low as .25 per side for large volume.
You should also consider other factors such as interest earned on cash.
IB's commissions for high volume are much in line with the "industry standard".
Of course you can go cheaper, but not significantly.
In my opinion it is useless to go for these extra $.05, it is much better to look for a lower turnover rate or different opportunities.
The only thing unnerving me a bit sometimes is the overnight carry fee IB has implemented.
regards local
Of course you can go cheaper, but not significantly.
In my opinion it is useless to go for these extra $.05, it is much better to look for a lower turnover rate or different opportunities.
The only thing unnerving me a bit sometimes is the overnight carry fee IB has implemented.
regards local
The above url reference only seems to require run of the mill "trading platforms".
No comparison with IB's API.
IMHO, regrettably IB loaded up with too much clutter for real traders. IB's FIX is no solution (yet?) as they still force you back onto TWS for all account information.