REFCO commission rates

S

saxon

Does anybody know what REFCO charges "per trade" for ES contracts (like IB is $2.40), just for example? Their rates seem to be a closely guarded secret (I wonder why).

I have an account with IB, but I'm thinking of using REFCO for a backup. I'm sure REFCO is higher, but if I don't make that many trades there, no big deal.

Also, if anyone has any personal experience with REFCO, please give me a thumbs up of down. I know they are huge ($20 bln in assets). And they offer trading in all futures (including pit-traded contracts). Might make a good combo with IB for once-in-awhile or special situation or backup trading.

thanks,
sax
 
Go ask them. That is the only way you can get a definitive answer.

Refco commissions are extremely variable depending upon what type of account you are.

Refco provides full-service, high rates to retail accounts, institutional rates to institutions, and professional rates to professionals. Within these categories they have flexibility for different trading volumes, styles, etc.
 
Quote from FX-Trader:

All right, let´s build a list of introducing brokers:

www.ots.com
www.gammafutures.com
...

They don´t have any commission schedule on their website either.
More...


My goal was not to advertise: see on the sites I am suggesting, they're no IBs, they are divisions of REFCO. And they do have commissions on their sites.
 
You're not going to get a decent rate from anybody if you're going to deposit a minimal amount of capital with them, and use them 'once in a while'. Be realistic.
 
Quote from bone:

You're not going to get a decent rate from anybody if you're going to deposit a minimal amount of capital with them, and use them 'once in a while'. Be realistic.
More...

I was not expecting discount rates. Just hoping they were not too exhorbitant.
 
FYI:

I received this reply from REFCO.

There is not set commission schedule. For new customers we start them at $15 plus fees for open outcry markets and $10 for electronic. After reviewing your accounts monthly statement we see there is sufficient volume we can hopefully lower the rate.

sax
 
Hi....
I don't know what the RTC rates would be at Refco because I have an account with them that is managed by an IB of theirs.
I think you are correct though in assuming they are much more expensive than I.B.
I.B. is where I trade for myself as well because Refco would be to expensive for the volume and way I trade I think...
RUSS.
 
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