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1) the fees are industry imposed from the exchange, and any account, with an active connection will be charged, whether or not they log in, trade or otherwise. I previously incorrectly stated at which point the decision to charge an account was made.
2) the exchange makes more from their institutional clients, and the retail clients are being charged in a similar manner, irrespective of their cost benefit analysis of trading CME products in contrast / comparison to other exchanges (and their products).
not sure how your firm is speaking, or your customers, but other firms are hearing from, and discussing how this change will inevitably cause many retail customers to reconsider the cost benefits of trading EMinis over other vehicles.
I was informed from my insider contacts, that these discussions are wide spread and wil cause a number of clients to revisit or completely switch over to CBOE options trading and away from CME / CBOT / NYMEX / Eurex products....
Can you help answer these questions from other members on NexusFi?
Yes. If you do not login you do not need an active account.
Pro accounts will be charged X17 per exchange. Retail non pro is $5, Pro $85 per exchange as of $2016, now I belive it is $42 per exchange. Pro rates apply to brokers as well.
Your insiders think that a retail account will move from an instrument like like ES to a totally different instrument because of $5 per month!? What exactly do your insiders do to have such a perspective?
My colleagues have a different perspective.
Matt
There is a risk of loss in futures trading.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
all but the high volume traders, not aware of the $5 CME only, or packaged CME discount of $15 for 4 exchanges, will eventually peter away.
simple culling,
you would be surprised how sometimes the slightest slight turns opinions, but then again, he related third hand to me, what evidently was others conclusions....
Any broker that caters to newbies who want $400 margins and opens an account with $2k to trade futures deserves everything they get, including a mass exodus over a $5 fee, which would seem to only make sense because most of the clients are on sim (probably after blowing up their small account due to ridiculous margins).
Seek out a more professional broker that actually sets you up to succeed, and not to fail.
People who overleverage in their trading are fascinated with trading for short period of time and then they they move on.
Matt
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
I am trying to do the math...
If you pay $50 for a monthly platform ( that is 10 months for the CME emini data)
or $1,000 for a life time license (200 months of CME charge) that is negligible(?)..but the $5 is what going to cause people move away. I see. TGIF
Matt
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
funny how a thread can really touch upon some sore points,
from my perspective this has really been revealing. It sounds like you represent a class act. Evidently, the other brokerage has had a rough time of things on futures.io (formerly BMT). Either way to sunday, this thread has really brought out some interesting points.
wow, seems like there are so many small accounts out there that are not happy. good thing there are other choices out here. Were you aware of the choice to prepay CME annually?, if there is one?
I did a support chat with them a few weeks ago and requested the $5 option.
They took out $5 this month. I suggest chatting with them online and having them verify your setup.