What do the monthly fees wind up being and the commissions?
Why not tradestation, TOS, Etrade......
- Thread starter greenmoose
- Start date
What do the monthly fees wind up being and the commissions?
Thank you everyone for your replies. Since everyone probably gets different commissions, how about simply what combinations do people use. Especially people using Mac OS for their trading.
Again, it seems very strange to set up individually all these components when you can get them in a all-in sort of way with TOS/Tradestation but I guess I'm trying to understand.
Again, it seems very strange to set up individually all these components when you can get them in a all-in sort of way with TOS/Tradestation but I guess I'm trying to understand.
I copy-pasted my old post below:
For /ES, AMP charges me $2.05 per contract (Exchange $1.18, NFA $0.02 Clearing $0.5, CQG TRF $0.1, Commission $0.25) while TDA would charge me $3.45 (Exchange $1.18, NFA $0.02, Commission $2.25). For round-trip trade, it's $4.1 vs. $6.9. That means total /ES trading cost of TDA is 68% more expensive than AMP. For micro /ES (/MES), AMP charges me $0.78 ($0.39 x 2) while TDA gives no discount at all ($6.9). Although AMP is one of the smallest, trading with U.S. brokers is very safe anyway because of this reason: https://www.elitetrader.com/et/threads/ampfutures.322820/#post-4687083
What if you trade options? Do you have to run two separate platforms and charting?
I don't trade options but see how Todd Gordon trades. He's an Elliott Wave expert and trades options mostly. He uses MotiveWave for charting and uses TOS for options analysis and execution. Watch his youtube channel for details. https://www.youtube.com/user/TradingAnalysis
If you are options trader and already having decent commission discount from TDA, why don't you just stick to it. You need TOS anyway for analysis......
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So for those that trade Futures and stock options are the choices really only the big houses such as TOS, tradestation, Schwab, eTrade.........
Seems that futures trades have many more options.
Seems that futures trades have many more options.
Yep. TOS is one of the worst platforms to trade futures on. There was no margin relief on spreads when I left and their commissions are heavy.
Interactive Brokers is good if you trade lots of stuff. If you trade only futures and don't need an API there are a ton of great discount brokers that offer fair margins and great commissions.
Sorry if this sounds utterly naive but why have both Rithmic and Amp? Isn’t that redundant?
My solution is probably the most simple there is. IBKR for execution, thinkorswim for charting, and if you need more than that you can use the API data feed and the free excel worksheet. The data fees are VERY low and commissions are OK.
Some of these guys use a 'premium' data feed. Some of these guys are data fidelity snobs.
Hell, some of these guys are using data feeds and execution platforms that are ungodly expensive ($1500 per month!).
TradingTechnologies, ICE data subscriptions, Cboe Livevol, Realtick, Kinetick, DTN IQFeed. . . .
But it depends what your style is. My style is quant and I trade short term, holding periods from 1 minute to a couple hours. But, I can also swing overnight if I want (I have more than $100,000). Different styles require different features.
Some of these guys use a 'premium' data feed. Some of these guys are data fidelity snobs.
Hell, some of these guys are using data feeds and execution platforms that are ungodly expensive ($1500 per month!).
TradingTechnologies, ICE data subscriptions, Cboe Livevol, Realtick, Kinetick, DTN IQFeed. . . .
But it depends what your style is. My style is quant and I trade short term, holding periods from 1 minute to a couple hours. But, I can also swing overnight if I want (I have more than $100,000). Different styles require different features.
I think that is my point. What are people gaining from putting together the charting, broker, data feed all separately than getting it all under one roof.
But again, isn’t having Rithmic and Amp redundant?
Also, if you are charting on TOS and executing with IBKR does that mean you have the two programs up and running simultaneously? Why not use a charting platform that connects to IB and cut out TOS? Believe me, I am very bonded to my TOS charts but I’m trying to sort all this out......