Currently, my broker charges 65 per micro contract - all in Does anyone use brokers for Micro Emini or Emini where the cost is far less Do those same brokers allow free trades on both buys and sells of stocks and ETF
I assume that is one-side, all-in? At IB, I pay 62 cents, all-in, per side for the Micro Emini. That commission is much higher than the equal E-mini, but just minor scaling-in and out, more than pays the extra comm. I've traded at IB for about 30 years, mostly with larger accts, but have had some problems lately, so have cut-back. The problems had to do with individual stock options & exercise during the day. Futures trading in various mkts, have not been an issue, but IB does not offer any discounts on margins for futures, so sometimes I buy SPY options, 1-3 days, with almost no premiums, rather than sp futures.
Your broker has to eat too, stop being cheap and pay your broker. Just being a bit tongue and cheek there. I pay $0.86 at Plus500, but their daytrading margin, customer service, and fast deposit and withdrawals make up for it. Are you a trader doing high frequency trading? If not, I don't think it is worth it to try and shave off pennies on your commissions. If you cut your comissions by 5 cents, that only saves you $500 on every 10,000 trades. If you are taking 10,000 trades, you should be making so much money that $500 in savings is a rounding error. Happy broker, happy life.
I trade at IB as well so was just wondering if there are more competitive places I know SCHW charges over 2 bucks for the same contract ..
IB os pretty straight forward, the only gripe I have with them is they pass along charges and fees on sales - I don't think E trade and SCHW do that
If you trade less than 1000 trades (500 round trips) a day, that extra 2-cent savings is pretty meaningless. Plus IB offers one of the best portfolio margins and highest interest on your parked cash.
Am I missing something? I used to trade futures with Interactive Brokers. Their daytrading margins were to put it very kindly, not competitive.
I have both. For swing/position trades, including FOPs, IB is all in one, if you can search it, it can be traded. High margin requirement is a plus so I have to be mindful of my NLV. On the another hand, AMP is funny money, have to put a hard stop loss if you are not careful about the leverage.