suggested ES/MES broker for low frequency trades

Discussion in 'Retail Brokers' started by vic38, Jan 21, 2024.

  1. vic38

    vic38

    Looking to open a futures account as TDA futures transx costs are ridiculous. Looking for suggestions given the following requirements/preferences, thanks.

    Instruments: just ES/MES/NQ/MNQ, don't need anything else
    Transaction frequency: 5-10 round trip trades per week
    Maintenance fees: preferably zero or very low cost
    Transaction fees: low cost, but doesn't need to be ultra low cost
    API access: strongly preferred as I eventually want to run this on a VPS on AWS or similar
    Platform: not required if I can connect to broker via Quantower
    Mobile app: would be helpful, but not an absolute requirement
    LTA availability: eventually want to open accounts for family members, so I'd need limited trading authorization, which I assume every broker is set up for

    Not sure what else I should be looking for. Thanks for any suggestions.
     
    Last edited: Jan 21, 2024
  2. Advantage Futures with as low as 7 cent per contract for commission. They have also very good infrastructure and can help you with your setup.
     
  3. schizo

    schizo

  4. Overnight

    Overnight

    vic38 likes this.
  5. schizo

    schizo

    That's right, AMP offers Quantower which uses CQG API.
     
    vic38 likes this.
  6. ph1l

    ph1l

  7. ondafringe

    ondafringe

    vic38 and rb7 like this.
  8. schizo

    schizo

    Your're right. Here's the correct fee for CQG/Quantower for those with less than $10k initial deposit. (I've also attached NinjaTrader and Interactive Brokers for comparison).

    In passing, I should mention that real thieves aren't necessarily the brokers but CME (the exchange), who keeps raising the damn fee just about every year. :vomit:

    upload_2024-1-21_17-46-17.png

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    upload_2024-1-21_18-1-48.png
     
    Last edited: Jan 21, 2024
    vic38 and ondafringe like this.
  9. ondafringe

    ondafringe

    And I would add that, if you happen to use Sierra Chart and SC's Denali data feed, all-in cost would be the same as Volume Tiered/TT-Trading Technologies.
     
    schizo likes this.
  10. schizo

    schizo

    Well, the OP specifically mentioned that he plans on running Quantower on a VPS. Anyway, that's good to know. How much are you currently paying monthly for the entire SC/Denali package?

     
    #10     Jan 21, 2024