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Costs associated with trading futures?


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Costs associated with trading futures?

  #11 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
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ondafringe View Post
Bob, that is not correct.

At AMP, you are charged $3.70 RT on ES *ONLY* if your account balance is $10k or higher. Account balance less than $10k are charged $4.20 RT (you have to use Volume Tiered Pricing on AMP calculator page).

Yeah, probably my mistake on this. If you take a look up at my post, I copied out the AMP calculator, which does have buttons to select whether you want a quote for the $10,000 balance or the smaller over $100 minimum balance -- I left them blank in my example, which I shouldn't have (but I didn't know what they were talking about anyway), and it seems that they just gave me the rates for the higher balance as a default, which makes them cheaper.

So if @ffejeldnit or anyone else is reading this, I hope they do the example with the appropriate balance option selected.

Since it turns out that @ffejeldnit actually is only interested in MES (which I did not realize,) this is partly beside the point anyway.... but anyone looking up the AMP charges would need to make the right account size selection for that too.

Anyway, the general industry ballpark for ES is, I believe, around $4/side, plus or minus something, and the AMP rates by that standard are competitive.

The only reason I jumped in at all was that I didn't understand that the OP was talking about the MES rates, and I thought he was referring to ES when he wrote about a rate of .37 per side (.74 all in), which would have been very wrong -- for ES. As it turns out, it's not wrong for MES, so I could have just said "never mind." (With what you pointed out about the account size, that .37 rate is probably too small for many accounts trading MES too, so the actual rate for many traders probably is higher there also.)

Sometimes you write a whole lot of stuff thinking about one thing (or I do anyway,) and it turns out you should have done something completely different. Oh well....

Perhaps I'll learn to read more carefully before I jump. Perhaps.

Bob.

----------------

Edit: since we can just go back and click those buttons and see what happens, I did, and sure enough, the ES "volume tiered" (lower account balance) number is $2.10 for under a thousand contracts, I assume a month, and I assume this is per side, so the round turn is $4.20, as you say. For the MES, the low volume number is $0.39 per side, not an important difference from the 0.37 given with the other balance option.

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  #12 (permalink)
ondafringe
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bobwest View Post
...Sometimes you write a whole lot of stuff thinking about one thing (or I do anyway,) and it turns out you should have done something completely different. Oh well....

Perhaps I'll learn to read more carefully before I jump. Perhaps.

Bob.

I hear you... just realized I did the same thing! So instead of saying "that is not correct," I should have said it was "partially correct!"

And, yes, MES is $0.78 RT for accounts under $10k.

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