Sierra Futures

D

DevBru

I recently discovered Sierra Futures and was wondering if anyone had some experience or any other remarks.

They seem to be an interesting alternative for AMP with low commissions and margins, they prefer to clear with Advantage Futures (although others are available) which is a large FCM so safety of funds shouldn't be a worry either.

After reading the FAQ i still had some questions which they answered fast so support seems to be responsive:

No discount on Sierra Chart so package 3 is $20/month, package 5 is $30/month.
Denali is $25/month, first month free.
No inactivity fee.
No deposit fee, $50 bank wire out fee.
$0 for phone orders in case of emergency.

$3.6 round turn for e-mini and $0.99 round turn for micros, $99 day margin for micro's, $660 for ES, $990 for NQ, so e-mini commissions are cheaper than with AMP but margins are higher.

I currently have no need for Denali or TT order routing, but when i increase my trading and account size i would probably prefer Sierra Futures clearing with Advantage Futures over AMP.
 
As I read your comment, the following question came to mind--

If SierraFutures is clearing through Advantage, why not open an account with Advantage?

In the future, I will be searching for a futures broker. So, that's why I am asking the question.
 
BAT31 said:
As I read your comment, the following question came to mind--

If SierraFutures is clearing through Advantage, why not open an account with Advantage?

In the future, I will be searching for a futures broker. So, that's why I am asking the question.
More...

Good question, i haven't looked into Advantage yet about what platforms i could use, commission rate and what the minimum deposit is.

Will take a look at it tomorrow.

I do have experience with Stage 5 and that was positive, so that is why i was interested in Sierra Futures.
 
Doesn't look more attractive than AMP. Especially, day trading margin is much more expensive compared to AMP.... One advantage I can think of is clearing with Advantage as Advantage can clear wider variety of products compared to AMP. However, if this is the case, I would rather like to directly trade with Advantage. Trading cost with Advantage is also cheap enough.
 
heispark said:
Doesn't look more attractive than AMP. Especially, day trading margin is much more expensive compared to AMP.... One advantage I can think of is clearing with Advantage as Advantage can clear wider variety of products compared to AMP. However, if this is the case, I would rather like to directly trade with Advantage. Trading cost with Advantage is also cheap enough.
More...

Higher margin doesn't bother me, i don't like trading over leveraged anyway. Looks like e-minis are cheaper untill 1000 contacts compared to Advantage directly, i assume there is some negotiability regarding the commissions when trading more contracts with Sierra Futures as well.

So 2 advantages i can think of compared to Advantage Futures are cheaper commission sub 1000 contracts and lower deposit required.

Advantages over AMP are cheaper e-mini commissions, clearing with Advantage, safety of funds.

Advantages AMP over Sierra Futures are lower margins, free package 3 and cheaper wire out or free ACH (not sure if ACH is available with Sierra Futures).

I have yet to make the exact calculation but it looks like when you are trading at least 1000 contracts per month and deposit at least $10K, it makes more sense to go with Advantage directly.
 
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