Velocity Vs. Global Futures, Vs. Etc.

C

Cy_M

Let's do this 1 step at a time, commish. first:

1 - Velocity = Commissions for xTrader Subscribers 0-4999 $3.75 RT + $500 platform fee per month. For 1000 RT per month:
3.75 + 0.50 = all inclusive $4.25 / RT ES

2- Global Futures = Commissions for xTrader Subscribers 0-4999 $1.00 RT + 2.32 Exchange Fees+ $700 platform fee per month. For 1000 RT per month:
1.00+ 0.70 + 2.32= all inclusive $4.02 / RT ES
Both are expensive.

Please quote comms. for other brokers you know of. Just the commish for now.
thanks
 
IB = $3.62 has own platform and XTRADER not included that if it were to be added this would also be in the order of $4.15 / RT

TradeStation = $4.53 less a little rebate at the end of the month and own platform. So far the most expensive of the bunch. Include XTRADER and it comes to $5!!!
 
stay with Global Futures...use the $300 daytrade margins and the Global Strategy Trader platform...only $50 a month!!...what do you think?
 
Quote from increasenow:

stay with Global Futures...use the $300 daytrade margins and the Global Strategy Trader platform...only $50 a month!!...what do you think?
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The 300 margin has very high commish. additionally is a very risky affair, I allow $1500 per contract and am pushing the envelope scalping....
The other thing is to use XTRADER or Ninja so their cost needs to be included.
That 300 margin is madness unless the comm all inclusive was like 2 and then maybe for 1 tick only scalps but even then, 200 contracts tail heavy with no money left in the account?!
 
I'm looking at a very whishy washy suspect add in ET about Direct Fill advertising All inclusive at $3.32 RT????!!!!
when you enter their site, looks like it was put together by a 12 year old who has just learnt about web page designs.....................anyone has more info on them?
The rate is damn good though, add the platform to that and it will be like 3.80!

p.s.
one thing I forgot to mention, global has CME included so that's worth like .03 and global at $4 seems like the best comm so far.
 
You can't use xtrader with IB, but IB has its own DOM (booktrader).

Check out Sweet Futures. The are the retail division of Rosenthal Collins Group (RCG), one of the biggest futures clearing houses (your account would mostly likely be with RCG if you went with Global as introducing).

They quoted me $0.50 per side plus exchange and NFA fees, which works out to $3.32 per RT for the e-minis. The xtrader monthly was $650. The only downside is that their intraday margin is only 50% of overnight (as opposed to $500 or $1000). In the end I didn't go with them because I couldn't really find any feedback, positive or negative, about them.


P.S. Your math ($3.62) on IB's RT rate is incorrect.

On 2,000 sides per month, your first 300 sides would be 2.36 per side, the next 700 sides would be 2.16 per side, and the remaining 1,000 would be 1.81 per side.

On 1,000 RTs that's an average rate of $4.03.
 
Quote from Cy_M:

IB = $3.62 has own platform and XTRADER not included that if it were to be added this would also be in the order of $4.15 / RT
...
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I don't think you got this IB commission correct. Bundled ES FUTURES is 2.40 per side or 4.80 all-in RT. The 3.62 RT is for ES OPTIONS. I don't use IB, so maybe an IB client can verify?

As for DirectFills, they are an ib for Man Financial, and the deal is real, with no volume quota. The platform they offer with that deal blows chunks. :(

Add this to your commission research...
http://www.vtradergroup.com/VTFutures/CommissionsFeesMatrix.aspx?c=1.16&n=Mini SP

And remember, firms with published rates are less likely to negotiate, if at all. It is not difficult to get sub $4 all-in RT, sans xtrader.

Good luck,
Osorico
 
Thanks guys, very good feed back. I think so far we can safely establish that for 1000 RT per month, it would be safe to say that including XT $4 all in can be found/negotiated.
So far just from comm point of view global seems to be leading if they accept the $4 for min. 1KRT. It seems the lowest comm so far by anyone period is $1 RT and the rest are exchange fees etc that surely the broker has a take on that too. My guess so far is that the broker has a 40-50% gross of the $4 and that sounds OK untill which time ones Volume increases another 1K.
please supply more data so this commish part could finally be determined for now.
 
Quote from Cy_M:

Thanks guys, very good feed back. I think so far we can safely establish that for 1000 RT per month, it would be safe to say that including XT $4 all in can be found/negotiated.
So far just from comm point of view global seems to be leading if they accept the $4 for min. 1KRT. It seems the lowest comm so far by anyone period is $1 RT and the rest are exchange fees etc that surely the broker has a take on that too. My guess so far is that the broker has a 40-50% gross of the $4 and that sounds OK untill which time ones Volume increases another 1K.
please supply more data so this commish part could finally be determined for now.
More...

The exchange fees and NFA fees go to the exchange and the NFA (they total $2.32 per RT in the e-minis for non-members). The brokers see absolutely none of that. They are probably getting some cut of the xtrader fee, however.
 
Quote from osorico:

I don't think you got this IB commission correct. Bundled ES FUTURES is 2.40 per side or 4.80 all-in RT. The 3.62 RT is for ES OPTIONS. I don't use IB, so maybe an IB client can verify?

As for DirectFills, they are an ib for Man Financial, and the deal is real, with no volume quota. The platform they offer with that deal blows chunks. :(

Add this to your commission research...
http://www.vtradergroup.com/VTFutures/CommissionsFeesMatrix.aspx?c=1.16&n=Mini SP

And remember, firms with published rates are less likely to negotiate, if at all. It is not difficult to get sub $4 all-in RT, sans xtrader.

Good luck,
Osorico
More...







http://www.interactivebrokers.com/en/accounts/fees/futuresPricing2.php?ib_entity=llc
 
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