Platform: NinjaTrader (It's a love/hate relationship)
Favorite Instrument: CL, TF, 6E
Posts: 176 since May 2010
Thanks: 60 given,
By default, the Static DOM will be enabled. You will not be able to place any trades, chart trader or DOM, unless you purchase credits. If you do not want to purchase credits, you need to contact NinjaTrader support and ask them to disable the Static DOM. Then you will be able place trades with the chart trader. I do not know about the dynamic DOM as I never use it.
If you try to place a trade before doing all this, you'll just get an error message. Unfortunately, you can't have an in-between where you have credits and only pay them when you actually use the Static DOM. It's all or nothing. The option to use/not use the Static DOM can only be set through NT Support, not through your local preferences.
It seems like a lot of hassle with DDT, but trust me, these fees are built into all the other brokers also. At least with DDT, you have the choice to opt-out of some of the extra charges. Everything is transparent. Some of the other brokers who offer "free" NinjaTrader will not reduce your commissions even if you already have your own license. So you end up paying for NT twice.
The following 3 users say Thank You to Slipknot511 for this post:
Hi, so just to clarify, checking the commission schedule, it is 3.32 R/T for the eminis and an additional .10 per side using NT from the platform page, bringing it to 3.42 R/T. Then we have to add the .10 per side TT credits and so it comes out to 3.62 R/T. Am I right? It's still a good deal if that's the case, but I'd just like to clarify. Also, would it be cheaper if I don't go with their datafeed? I've been thinking about getting DTNIQ for the internals.
p.s. what do you mean by "Some of the other brokers who offer "free" NinjaTrader will not reduce your commissions even if you already have your own license. So you end up paying for NT twice." ?
I understood that commision is 3.32 RT + 0.05 each side using NT so 3.42 alltogether.
If you use e.g. Mirus / NT you donīt get price change if you own NT or not - but if you have own license you can use ATM / DOM / Chart trader included if you have not purchased or leased you cannot make any ATMīs.
@Slipknot511 Hi, I just contacted Howard to open an account with them and my commissions came up to 3.62 R/T for the ES. How did you get 3.50?
ES = $1.66 per side
NT = .05 cents per side (For "Chart Trader" or "Dynamic SuperDom")
TT = .10 cents per side additional (For "Static SuperDom" thru TT credits on Ninja website)
Grand Total = $1.81 per side (or $3.62 RT) + $60 monthly if you lease Ninja (or $0 monthly if you own the Ninja Lifetime License).
The only way it makes sense that you have 3.5 R/T is that you didn't pay the .05 per side for Chart Trader or Dynamic SuperDOM, and before the 0.01 per side increase for NFA fees, so you got 1.65 per side + .10 per side = 1.75 per side = 3.5 R/T.
No doubt 3.62 is still a great commission and I'm definitely going with them, but I'm wondering if I can get it down to 3.52.
Also, what margins do you have trading the ES? Is your margin structure the same as Mirus, including the time-frame the day-trade margin is in effect?
This is strange, I just spoke to live chat at Velocity and this is what I got
Operator 4 says:
Hello JH. My name is Operator 4 how can I help you?
Hi, I have a question about commissions with NT
Operator 4 says:
So level 1 commission is 3.80 R/T with NT for ES
and I have read elsewhere that if you have your own license, level 1 is 3.60 R/T
now my question is that does that mean if I don't have my own license, NT will be leased to me and I will have to pay 3.80 R/T? Is that NT the full version?
or is it 3.80 R/T for NT Direct Live which lacks all ATM functionality and a lot of other goodies.
Operator 4 says:
we do not have anything to do with the license key that you obtain from NT. The commission is still the same if you lease or own the license key from NT. for the ES it is 3.80 per R/T
Just go to velocity's website, check commission. Don't click on NinjaTrader, just on FIX (TT_FIX). You might also email my Velocity rep to confirm I know what I am talking about. But again, go with whoever makes you comfortable and you are happiest with. My rep is @Dale Box, it's dbox <at> velocityfutures <dot> com.
BTW I mean to remove NinjaTrader from the equation as far as Velocity is concerned. You need to buy NT from NT, then just connect the TT adapter (FIX).
Want my help or input? 1) Please don't PM me, instead make a post on the forum. 2) In your post, mention me by typing @Big Mike.
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