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If you have not noticed, I am Matt from Optimus.
The figure of 5 per trade is incorrect. Maybe it's 5 Round Turn on some instruments, but on others like ES it could be around 4 Round Turn all in. Futures have a different cost associated with them depending on the category due to different cost coming from the exchange.
In defense of my competition you mentioned, even they don't charge 5 per trade.
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]
Can you help answer these questions from other members on NexusFi?
I'm going to make a comment that is a bit off topic but I think it is very appropriate. Even if you are paying $5 per round turn and are as concerned about it as you indicate, then I suggest your trading won't adequately pay for commission regardless what the commission is. IMO, paying commission is the least of the problems we face as traders.
Just to be clear, I'm not saying you should not try to get the best deal you can.
You are going to find out as well the more years your trading the more accounts with different brokers you will want. Diversify yourself. I have multiple accounts with multiple brokers. One goes bust, my money is still ok. History does usually repeat itself, play the safe side of things with this...
I was rounding.. i think it's 4 dollars and 50+ cents.. so i rounded it to 5$.. point i was making was that it is high. Sorry if you thought i was making any direct conclusions on the exact commission your company offers
I agree with you as far as finding the best deal. But commissions can eat away lots of profits on the long haul. They add up.. quickly. With that said, of course you want a system that can keep you floating even with high commission
You wrote in your comments it's 5 PER TRADE. This is not a rounding error.
You meant to say 2.50 per trade and 5 round turn.
2 Trades per 1 contract = 1 Round Turn
Many traders on this site have many years of experience, and they get to be very technical.
So don't feel like I am "chasing" you in order to keep correcting you specifically.
This is a public forum so I need to make sure we are all on the same page.
Please call us, and we would be more than happy to clarify any misunderstandings as far as the charges.
Thanks,
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]
Make certain you are comparing the all-in fee. For example, if a broker were to charge a "clearing fee" that other brokers do not, and it may not be extremely clear if they break it out separately from "commission".
Also get the all-in fees in writing. All-in means total deducted from your account, not just commission.
Last, always double check your statements carefully, examine all fees, and make sure you are receiving what you were quoted.
I appreciate you bringing it up to the attention of the community.
It took me years (literary) to realize that my competitors only quote the commissions side without the clearing and connectivity and that way they always sound cheaper.
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]