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List of Broker's "all in" Hang Seng Index Roundtrip Futures Commisions
Does anybody have a list of Brokers with their standard “all in” roundtrip Hang Seng futures commissions and if they charge for real time data? I have been spending hours searching the internet and a couple other trading forums looking for an answer to this simple question. Many broker's web sites give some commission information but don't include all fees, etc....and others say to “call us” for a quote. It seems to be a rather mysterious, closely guarded secret for many brokers.
Here is my dilemma. I have developed a scalping system that is profitable. However, commissions and slippage take over 50% of my gross gains. I can't do anything about slippage (which occurs on my losing trades when my stoploss order is hit)....but, commissions are different. I currently trade through Interactive Brokers and I trade the Hang Seng Index futures (.HSI) in the evening since I work during the day. My trading platform is Sierra Chart so I pay for the software, but not the data feed since IB provides it for free (if you trade a small amount per month). So, I am simply trying to lower my per trade commission expense since it takes such a large bite out of my scalping system gains. I place about 20 roundtrip trades (i.e., 40 trades) per week and saving just $1 per contract is a big help.
The “all in” roundtrip commission for trading one Hang Seng Index future at Interactive Brokers is 60 Hong Kong Dollars...which currently equates to $7.72. Anybody have a list of total "all in" roundtrip commissions and data feed cost for brokers that offer access to the Hang Seng futures? Any help is appreciated. Thanks...
Can you help answer these questions from other members on NexusFi?
This is actually hugh (important) news to me! I know that they use bundled vs unbundled futures pricing. But, I have never heard of Tier Pricing. I will log in to IB today and see if I can find the Tier Pricing and definitely change to that! Thanks...
Yes, while some may ask you to call to check your negotiations skills, and/or the number of round turns you are doing to give you fair pricing, there is some issue over some foreign futures. Your commissions depends on the platforms, and the FCM. Broker may or may not go via an intermediary besides their FCMs, and that may add a cost.
I find that getting with the customer on the phone is always the best solution. You get to have a decent conversation time wise to find the right match, commissions and platform.
Thanks,
Matt
There is a risk of loss in futures trading. Past performance is not indicative of future results.
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.
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