Discount Futures Brokers 2015

Futures BrokerEmini StocksBonds NotesEnergyFX FuturesGrainsMetals
eminifuturesbroker.com0.450.450.450.450.450.45
Tradefutures4less.com0.450.450.450.450.450.45
DeepDiscountTrading.com0.500.500.500.500.500.50
Zumo.com0.500.500.500.500.500.50
AmpTrading.com0.510.510.450.510.510.45
GenericTrade.com0.590.590.590.590.590.59
Lightspeed0.600.600.600.600.600.60
Velocity Futures0.750.730.650.830.830.77
TransworldFutures.com0.750.750.750.750.750.75
FuturePathTrading.com0.800.800.80.800.80.80
e-mini.com0.820.750.720.770.630.86
Interactive Brokers0.850.850.850.850.850.85
MT Trading0.850.850.850.850.850.85
Back Bay Futures0.900.900.900.900.900.90
NinjaTrader.com0.950.950.950.950.950.95
Global Futures0.961.341.080.991.081.08
PhillipCapital.com0.990.990.990.990.990.99
GoFutures.com0.990.990.990.990.990.99
InfinityFutures.com0.990.990.990.990.990.99
advantage futures0.990.990.990.990.990.99
progressivetrading.com0.991.521.501.561.501.50
TransactFutures.com1.001.001.001.001.001.00
UnitedFutures.com1.001.001.001.001.001.00
CannonTrading.com1.121.081.061.090.991.07
Trade Station1.150.601.451.601.951.45
e-futures.com1.181.181.181.181.181.18
sapphiretrading.com1.251.251.251.251.251.25
Futures Online.com1.291.291.291.291.291.29
daniels trading1.291.291.291.291.291.29
www3tfuturescom1.341.891.541.342.282.28
efutures.com1.491.491.491.491.491.49
Insignia Futures1.491.491.491.491.491.49
Trade Monster1.501.501.501.501.501.50
Optimus Trading1.501.501.501.501.501.50
Apex Futures1.991.991.991.991.991.99
TD Ameritrade2.252.252.252.252.252.25
Striker Online2.502.502.502.502.502.50
Wisdom Trading2.502.502.502.502.502.50
DeCarley Garner Trading2.502.502.502.502.502.50
RCM Futures4.004.004.004.004.004.00
Gibralter Futures5.755.755.755.755.755.75

Discount Futures Brokers 2015

Well, its that time of the year again to check futures broker commission rates for 2015. I do this once a year to make sure that my commissions paid are somewhere near the average. You really need to do this once a year, just to keep track of any newcomers, stay abreast of pricing trends, eliminate any brokers that went out of business, and find out about any juicy gossip about which broker got into trouble.

On January 5th, 2015 I set upon the task of building the yearly database of every futures brokerage that I could find on the internet. The process took a full three days of web scraping. I immediately eliminated any brokers with rotten unprofessional looking websites, disconnected phone numbers on the contact page, contact email addresses that bounced (Zaner Futures-My old broker), commission rates above $6 per side, and most importantly…I scoured the CFTC and NFA for any enforcement actions.

After I built the list, I next contacted each broker and requested a quote for commissions. My request stripped out any regulatory fee’s because regulatory fee’s are constant with every broker. I also made a uniform request with identical variables. I asked for a quote for the Emini SP500, 10 year note futures, crude oil futures, Euro FX futures, corn futures, and gold futures. Why did I select only these 6 markets? Because the exchange fee’s for the related futures contracts are identical. For instance, if you want to trade the 10 year note futures, the exchange fee is going to be $0.61. The exchange fee for the 30 year bond future, the 10 year note future, and 5 year note future, and the 2 year note future ALL have the same exchange fee. Asking for individual fee’s would of been redundant. You may also check and see that the exchange fee’s for corn, soybeans, wheat, soybean oil are identical. Same with FX and energy futures. These 6 market groups are also the most actively traded futures contracts in the world.

Contacting Each Broker And Haggling Over Price

Next I contacted each broker individually and I stated that my quote be based upon an opening balance of $10,000 and that I trade an average of two trades each day. I felt that this would represent the vast majority of my readers and give them the best chance at making sense of the landscape. I did my best to haggle over price. Some wanted higher rates and refused to budge. But some where quite willing to lower price to be more competitive. Yet others simply posted their lowest available price, right on their website and would not budge.

Consolidating The Price And Disclosure

After I felt like I had done my best to haggle with each broker, I then notified each broker that the price quote would be used on a comparison table that would be publicly available on my website. I gave each broker the option of contacting me later, and that I would immediately adjust the price higher or lower. I felt this a fair way to give each broker a chance to compete for new customers.

A Fundamental Unfairness

Some of these brokerages are quite large and have many different representatives within the company. It would be unfair to not disclose that on any given day, you might get lucky and find a hungrier rep than I was able to find. You could get a better price on a whole host of different input variables. I also want to be clear that these quotes are just a snapshot in time. Brokerages can and do change pricing without notice.

 

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30 Comments on "Discount Futures Brokers 2015"

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Futures Broker Optimus Futures
Guest
Emmet, Thank you for putting this together. I would like to add some of my own 2 cents in order to help traders get the best deal for their account. Cost consists of the following: 1) Commissions 2) Routing Fees 3) Exchange Fees These are the three elements that each round turn in futures consists of. Whether brokers own their technology or not, the technology component is there and that is the “routing” and it could be defined as “technology”, “Platform” etc Commission could also have different breakdowns according to the FCMs where the account is located. Exchange fees from… Read more »
Pat O
Guest
Hi Jon and Peejay, When I am home and trading, I usually do the volume listed above, but I travel frequently and when I am away (especially in countries with spotty coverage), my volume is sporadic. As a result, at firms where I paid less than my current rate of $.59 (I’ve paid as low as $.29), I got hit with some pretty imaginative fees – both in my ‘off time’ and then when my trading resumed. Last year I decided to trade for several months consistently so I leased a CME membership. I provided GT with my docs and… Read more »
angela
Guest

Thanks for the very extensive, and very authoritative review of Generic, Pat O. I prefer a more hands-of approach myself.

I’ve been demo-ing their trading platform for a few days, and it seems ok for me. I would like to have more sophisticated analysis tools for quickly seeing w/l ratio, mae/mfe for each rt, etc, but I guess I can do that in a spreadsheet too.

Best,
angela

angela
Guest

*hands-off.

Sorry for the typo.

Pat O.
Guest
Hi Angela, The platform definitely lacks some of the advanced analytics I’ve seen in other platforms . Also it doesn’t have complex auto-trading that some do as well (one of my friends that trades at GT made note of that). It works great for me though because I’m a day trader and I really want speed more than anything and some of the platforms I’ve used seem to get bogged down with heavy features. As for the auto-trading, they do have a bunch of basic auto-trade strategies like trailing stops, oco, brackets, etc. and unlike pretty much all of the… Read more »
Angela
Guest

Hi Pat,
Thanks for the detailed explanation. That all makes sense.

arnold
Guest

hi
can you email me a list of the best futures brokers

thank you
arnold

arnold
Guest

hi
what do you thing about ninja trader

thank you

arnold
Guest

hi Emmett
I would like to talk to you is there a phone number or Skype
I can call you on.

thank you

Charles
Guest

Thank you for this detailed list. I wasn’t aware of any Mac compatible broker platforms until I came across your website. So delighted to see that Generic are. Are Zumo and Generic good for fills compared to Ninja Trader for trading in a live trading room scenario on oil?
thank you for your comments and thoughts.cheers.c

Thankful
Guest

I just wanted to say thank you for your time, and effort in preparing this comparison, as well as for the rest of the vetting you do! I’m sure you’ve saved many bundles of $$. Thanks again!

Pat O.
Guest
Mr. Moore, I must say that I am incredibly impressed! Wow, I thought I had done my homework, but you put me to shame. I trade indices and currencies almost exclusively (mostly ES and 6E) and trade at least 300 contracts daily and upwards about 1000 when the stars and planet align (j/k). Anyways, I’ve been trading about 20 years and have had accounts with several of the ones you list as well as the old standby, Interactive Brokers. My favorites were Advantage and Velocity, since they were best geared for higher volume traders IMO and offered TT, my platform… Read more »
David
Guest

Pat O, Hello was reading your post interesting trading you are doing , i gotta ask however you mention TT? could you explain what that is. Thank You !

Neil Shah
Guest

Hi Pat and Emmett:

We are struggling with execution on ES @ TradeStation – over half of the trades don’t seem to execute (especially to get in and TP). We usually do over 250 contracts a day at the minimum and it hurts quite a bit. Would you recommend anyone better – maybe Advantage, Generic or…? Highly appreciate

Neil

Pat O.
Guest
Hi Neil, I haven’t had the issue you are describing at any firm in recent years. I have not had an account at TS, but have heard they didn’t really specialize in high volume day trading, due to their infrastructure. I have always heard that their software was fantastic for really advanced configuration, but if you don’t need that you may wish to switch to a firm that is better able to accommodate higher volume traders. It’s unlikely that you would have these issues at Advantage, Velocity or Generic Trade. I’m at Generic now and have been doing my most… Read more »
Peejay Lal
Guest

Hi Pat 0,

If your daily volume is 1000 contracts a day, you can easily get a price of less than 0.50 per contract.

Trader Joe
Guest

Thanks for taking the time to post all this information. It really helped me find a cheaper broker!

Jon
Guest

I find it hard to believe that people who ”claim” that are trading 250 and 1000 contracts a day are paying that high amount in fees.
If you are trading that size a day on 6E you should be paying peanuts with a clearing firm, I know for a fact, no more than $1.80 all in.

Natalia
Guest

Dear Emmett Moore!
Have you heard anything about FASTBROKERS?

Mike
Guest

Anyone hear anything good or bad about the #1 on the list. EminiFuturesBrokers?

Ali
Guest

Hi Emmett,
Thank you for the wonderful website, including the brokers list. I’ve been reading and browsing your site for the last few days and learning a lot from it. I wonder if you have any specific comment about Interactive Brokers to use both for stock and future, hidden fees, pros, cons, etc.?
Thanks again,
Ali

Ali
Guest

Many thanks, Emmett!
I just finished reading your piece on futures brokers, and I’m going for Optimus and Matt.
I am a total beginner that managed to lose a few $K’s before stumbling on your website. Now, I’m trying to find a good mentor from your reviews, looking both for stocks and futures. I really appreciate if there is a number to reach you to ask a few more questions about some of the top rated mentors.

Sue Haimi
Guest

Hi! Could anyone here please provide a link to reputable online brokers who deal in both ‘normal’ stocks and shares and also penny stocks? … Brokers who are suitable for folks outside of the USA?
Thanks for any feedback.

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