I've paid over $60,000 in commission the last few weeks and im done

Where is the video capture of all this brilliance

really, I have to waste time going to see it live

he or one of his shills cant vid the thing ?

lol, the stink is getting worse

images
 
NewTraderAdventure said:
Where is the video capture of all this brilliance

really, I have to waste time going to see it live

he or one of his shills cant vid the thing ?

lol, the stink is getting worse
More...

I have absolutely no interest in recording someone else trading ..

Either shut up or wait until he is streaming again to see for yourself.
 
Why doesnt he record it himself. Since hes obviously an attention ho

Maybe its because its BS


"I walk on water whenever I feel like it, but I never take pictures of it "
 
balckagroop said:
Reasons aren't immediately obvious to me. Can you explain? Thanks.

As for IOM seat, you say NFA is gone, Routing fees gone, and a discount on exchange fees (yes), but also broker commissions? Are you sure about that? That's more impressive than I thought if true.
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With random broker you have higher change to fall into insolvency. Thats why all CME's direct clearing firms have meet its capital requirements.

On the 2nd point. I admit I was bit misleading. You don't really get lower commissions by simply owning a IOM seat. Truth is, in trading and in life general, when in comes relation with your business partners (and brokers are that) you want to look good when you are in negotiations for lower fees. Even if you tell your broker you trade 10k volume monthly, they most likely make a offer for like you are trading 60-80% of that volume, because most traders exaggerate the volume they are trading. Later times you can negotiate lower fees.
But yeah, in the end it comes down to volume. 10k volume is deffinetly enough for a cash cow to milk for lower fees.
 
AYUA said:
I would highly recommend getting a broker who is also a clearing firm member for CME for obvious reasons.
https://www.cmegroup.com/clearing/financial-and-regulatory-surveillance/clearing-firms.html

Secondly, the size you are trading, IOM seat is a must. If you feel like buying a seat is too high of a commitment , then lease a seat. IOS lease goes for 300 tops right now. There is one time 2k fee for joining. Good thing is any respectable broker is able to do the set you up (finds you a lessor an does the most of the paperwork). Fairly straightforward.

Seat is good because you dont have to pay for NFA and Routing fees and you get discount on commissions and exchange fees.

More info can be found on:
https://www.cmegroup.com/company/files/cme-fee-schedule-2020-04-01.pdf

If you can pull more than 10k volume monthly, you can get your commissions down to 10-15 cents without difficulty.

Good luck!
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hmm, why is AMP global clearing not onthe clearing firms list, i thought they were?
 
AYUA said:
With random broker you have higher change to fall into insolvency. Thats why all CME's direct clearing firms have meet its capital requirements.

On the 2nd point. I admit I was bit misleading. You don't really get lower commissions by simply owning a IOM seat. Truth is, in trading and in life general, when in comes relation with your business partners (and brokers are that) you want to look good when you are in negotiations for lower fees. Even if you tell your broker you trade 10k volume monthly, they most likely make a offer for like you are trading 60-80% of that volume, because most traders exaggerate the volume they are trading. Later times you can negotiate lower fees.
But yeah, in the end it comes down to volume. 10k volume is deffinetly enough for a cash cow to milk for lower fees.
More...

Thanks for the advice.

Also, I was looking at AMP, and surprised to find they are not on the clearing firms list too. Was going to go with them if I don't get a prime brokerage account.
 
balckagroop said:
Thanks for the advice.

Also, I was looking at AMP, and surprised to find they are not on the clearing firms list too. Was going to go with them if I don't get a prime brokerage account.
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i just realize they are NFA registered FCM...as opposed to CME FCM...

i guess im trying to figure out if it matters? is CME FCM get quicker fills? AYUA said for "obvious reasons"..umm not that obvious for someone who's new the industry
 
hilmy83 said:
i just realize they are NFA registered FCM...as opposed to CME FCM...

i guess im trying to figure out if it matters? is CME FCM get quicker fills? AYUA said for "obvious reasons"..umm not that obvious for someone who's new the industry
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He's saying the main reason is a higher risk of bankruptcy of the firm, if I'm reading that correctly.

I am not sure how likely that is.
 
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