Low cost futures brokers for day traders

R

Robert Weinstein

Currently using IB and do like them for the most part. Would like to hear about costs with other brokers for the e mini's etc...

I do like that I can trade stocks and futures from IB but I am finding that the futures side offers me more opportunity.


I have read about some futures brokers charging a monthly fee and a much lower trade fee. As I am paying $4.8 per turn it would not take many turns per day to pay a monthly fee.

Thanks
 
The only way to really pay less is to become a memeber trader for about $3,000 a month. That's probably worth 80 cents off each side or so. Those other firms give you 50 cents off each side but then you are charged $500 to $700 a month for the platform and/or you have a volume quota.

IB prices are rock bottom. There really isn't much left to take off since the exchange clearing house charges IB $1.10 a side to clear the trade.

You have to be doing MAJOR volume for any of this to matter.
 
For a small to medium trader no-one cheaper then IB. And in that price range no-one is as reputable and solvent as IB either.
 
How many contracts a month are considered medium , how many are considered large? Just curious about accurate info.
 
Originally posted by Banjo
How many contracts a month are considered medium , how many are considered large? Just curious about accurate info.
More...

I think it would be tough for anyone trading less then a few thousand contracts a month to beat IB. I'd consider 250 sides a day to be a medium guy. Keep in mind that there are true scalpers in ES. These are guys who are going direct to Globex and trading a thousand a day. But for the average index trader who makes a few trades an hour I think IB is the ticket.
 
I average 15 round trips NQ's on ave.12 contracts daily = 1800 sides a week=7560 sides a mo. I'm wondering if it would make sense to lease a seat. Never really thought about it before but you guys are comming up with some interesting info.
 
the co-owner of e-local told me on the phone that once I start doing about 4000 sides a month or more, it makes economic sense to lease a seat. currently I probably do 2000-3000 a month I guess, and am being charged $3 per side.

yes, I know others are a bit cheaper, but not eveyone accepts canadian accounts, and elocal did at the time I joined.
 
>"The only way to really pay less is to become a memeber trader >for about $3,000 a month. That's probably worth 80 cents off >each side or so. Those other firms give you 50 cents off each >side but then you are charged $500 to $700 a month for the >platform and/or you have a volume quota. "

Dear All,

As far as I could understand, becoming a member (paying U$3.000 a month), is the cheapest way for those who trade high volumes, correct?

Even so, what would be the costs per side, considering that you are a member?

And, Does lease a seat mean the same as become a member?

Also, as far as I could find, this /www.advancedfutures.com is the cheapest available, isnt? Or is there any other one besides IB?

Thank you.

Regards

Raphael
 
You must log in or register to reply here.
Back
Top