Petition to the NFA to reduce high tax/fees micros

DevBru said:
I also trade the micro's but i must say this 4 cents per trade don't really hurt me, of course on the long run in a year it would be nice to save some. But then again, i don't to 56 round turns per day, with 56 round trips i assume your profit is also solid?

How much is the $2.24 you had in commissions % wise compared to your PnL?
If you made +$200, what i would expect (at least) with 56 contracts, it's only 1% or less.

Would it be nice to save some money, sure, but let's be real, it isn't going to change because we ask for it. So better save the energy/time and make some extra money trading :D.
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it depends on how many I do a day and what my profitability is and this is not just 1 account.
The fact that you OK with a 1% haircut is insane to go to the exchange absolutely incredible.
maybe stocks should say we are charging a 1 % tax now for every stock trade you make would that be ok?

it is obvious fees never go down.. except in stock trading which should have put pressure on the futures industry to lower fees but it didn't.
 
Robert Morse said:
I understand you feel that way but it is consistent with equity and option trades that incur the SEC Section 31 and TAF fee which support the SEC and FINRA budget.
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I am sorry you are taking a broekrs view becuase you would be footing the bill not us with maybe 5k a year to be an NFA member vs 1k and again even your self shuld udnerstand that a broekrage can charge pennies more a side and make more vs the exchange. But for soem reason even you think your customers should pay more!

What kind of a broker is not out for the greater good of their clients with less regulatory fees!! and you said it not me!!! wow astounding! it;s ok i dont pay it but my customers do!!
 
tradeking007yahoo said:
it is thinking like this that actually allows the CME to keep raising fees every 6 months which is unheard of and how the hell can you back test or work with data if the fees are always chaging!

You really beleive that a fee increase wont come to the MINIs.. hilarious!
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I would suggest to stop trading at all.
Trading is finding a niche and exploiting it.
You do what everybody does and complain about the authorities exploiting you...and that's the way of the loser
 
Wow-I did not provide my opinion, just facts. Each asset class has regulatory fees. That is just a fact, not my opinion. As I stated early, you can avoid the NFA fee with a membership on the CME and get lower clearing fees too.
 
Look .. WOW! ur kidding right. Your opinion was that oh.. yeah sure since you pay a regualtory fee here it is ok that you pay more in futures. well we already have a regulatory fee and it is obvious that you should have said.. you know what you are right. It is getting even more expensive to trade the micros here .. this is who can contact to maybe get the petition started because I want YOU and MY current clients to see how hard I am willing to work to help them succeed which involves LOWER FEES not HIGHER and just being ok with it. but nope.. you did the opposite.

Because of you post it made me realize that the fees to the NFA from registered series 3 brokers and broerkages have not increased nearly as much as the fees on trading which went up 100%!!

I will be adding to have brokerages NFA fees increased due to the extra constraints of costs associated with the NFA having way more work to do since the exchange is not electronic and there is mroe voluem being done.

Thanks.

It was not a personal attack on you at all and i like a lot of what you post but an excellent BROKER should be about reducing regulatory fees and all fees for their customers while still being able to make themselves some money without being greedy. Yu do understand that the more trades someone does with you the more money you make right? and the the less fees we pay is correlated to how much we LOSE and for a few how much we MAKE which as we grow if making money.. say going from 1 lots to 5 lots a trade then the regualtory fees become extremely high and that is money in our pockets and your pockets gone!
 
BTW I have been trading and payig brokes for over 20 years and if you do actually trade and want to grow as i hve then fees are an enormous expense and a good broker is a great resource especially so in stocks if you are looking to short shares or get paid for allowing yours to be borrowed.
 
MrMuppet said:
I would suggest to stop trading at all.
Trading is finding a niche and exploiting it.
You do what everybody does and complain about the authorities exploiting you...and that's the way of the loser
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1. YOU have no idea what i do
2. YOU are absolutely 100 % INCORRECT
 
tradeking007yahoo said:
BTW I have been trading and payig brokes for over 20 years and if you do actually trade and want to grow as i hve then fees are an enormous expense and a good broker is a great resource especially so in stocks if you are looking to short shares or get paid for allowing yours to be borrowed.
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I trade and I've grown...and I've leased a seat and used a direct clearing firm.
Haven't paid brokerage and NFA fees in years.

Calm down, Sir. It's hard to look back at the end of the year just to find out that you didn't achieve anything, but you'll get over it
 
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