That first $20 is "including the first 40 contracts" and again, if you are doing any kind of volume, your FCM will discount that cost back to you. You seem pretty green about this. No offense. This is all standard protocol.
Platforms with ZERO charge (or very low charge) that allow you to trade exchange spreads
- Thread starter propwarrior
- Start date
That first $20 is "including the first 40 contracts" and again, if you are doing any kind of volume, your FCM will discount that cost back to you. You seem pretty green about this. No offense. This is all standard protocol.
yes but I am not trading nothing in a month. If I do 1000 round trips which might only be 250 fly round trips it will cost me $500. If I use a free platform like TWS, Firetip or Inifinity AT it will cost be zero, nada, zip. Of course for someone doing 100 contracts a month the CTS/CQG trader deals are more favourable.
Are you intentionally choosing to not listen to me or am I really speaking over your head. Here, let me help you out. I spent 8 years in the chicago prop community and I had a lot of friends that ran IBs. I know a little bit about what goes on there so let me help you out here. Here is what an FCM does NOT want. Some guy rolls in like a BSD and says he is going to do 50 billion contracts a month to get whole sale costs plus other perks like free TT. The dude puts in some money and ends up doing 15 contracts the first month, 30 the 2nd and blows out his account and leaves.
I don't know of a single firm in Chicago that will not pay 100% of your software costs if you are trading. It matters not how they get their money as long as they get it. So because a lot of guys talk a big game with no follow through, firms no longer eat that up front cost. They make you pay for the platform so it doesn't come out of their pocket. Once you "actually" start trading, most these firms will cover your costs if the volume is there. Why? There is no reason not to. That is what I'm trying to tell you. Certainly for something like T4 any firm will pay that for you if you are doing volume.
Which comes back to my first post, the platforms are free. And speaking of Advantage, they have some nice office space in downtown. If you are doing nice volume they will set you up with space on their dime. It's one of their "perks". Hopefully this is more clear to you now.
not sure what you are banging on about here. I have in the past had accounts at multiple future brokers and several prop firms. 1000 contracts is nothing to Advantage. Here is Advantages sliding commission scheduled below.
The facts are if I do 1000 contracts per month with Advantage using CTS I will get billed $500pm for the software. You are saying they will refund the $20 back to me, that's worth nothing to me, that would bring the bill to $480pm lol.
Why go through an introducing broker instead of directly with an FCM like Advantage, RCG, FCStone, Rand, etc. ? That's one more node in the ECN, one more risk check, etc. etc.. I mean, when you call the deep discount broker's desk for help, they're just going to put you on hold and call the FCM that they have the direct give-up agreement with.
Once you show some volume, the FCM's will definitely get your rates down. Plus, they have superb IT help and a 24 hour execution desk. You are definitely paying for that "free" execution platform one way or the other.
Once you show some volume, the FCM's will definitely get your rates down. Plus, they have superb IT help and a 24 hour execution desk. You are definitely paying for that "free" execution platform one way or the other.
I can assure you there are a wealth of energy pros using X_TRADER and the TT platform as well. In fact, we are the default front end for an entire energy exchange. https://www.eex.com/en/access/frontends/eex-tt-screen
well quite patrick. Our community is quite small and I talk to a lot of guys at other firms all the time. xtrader pro is the default with a few using CQG IC. It's just another case of Bone playing fast and loose with the facts.
Well that is a fact Jack. I started using TT in 1998. The OP was looking for free.
Not at all. I've personally traded plenty of power and nat gas swaps using TT. Not to mention beau coup Nymex and ICE futures. You were looking for free - which WebICE is if you register through them and your FCM.
You are telling me nothing I don't already know. Trust me if I complete 1000 round trips with Advantage they will not be picking up my $500pm CTS bill. I have met their rep here in the UK at that volume it's not happening. hence its $6k wasted for me when I could use a free platform.