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Robert H

New Broker Announcement: CME Group

Robert H

Guys, thanks for all the useful information posted here about CME Group. Just a favor, we beg you not to post verbatim CMEG emails, just share their relevant communications in your own words. While we can discuss whether disclaimers in email signatures are legally meaningless or legally binding, we at BBT want to be respectful of those disclaimers.

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12 minutes ago, Carlos M. said:

They are very new compared to other similar brokers like Suretrader but they are getting a good reputation, I see a lot more people using them.  

Awesome Carlos, thanks for your input. 

How long did it take for you to sign up, fund and have your account ready to trade at CMEG?

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Hi everyone - I have funded my account and wanted to use the demo account for another 3 months at least. 
My question is, did you need to email CME to ask for a demo account to be linked to your active account or is it activated for everyone (as in, do you just select the drop down box from account selection in CME/DAS and it will be there?)

Cheers

 

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Hi Guys,

Has anyone cashed out profit from CME account yet? How easy and smooth was it? Have you noticed anything to be concerned about? I appreciate your feedbacks.

Thanks

Edited by Benjamin

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On 7/24/2018 at 4:15 PM, Robbie Williams said:

Hi everyone - I have funded my account and wanted to use the demo account for another 3 months at least. 
My question is, did you need to email CME to ask for a demo account to be linked to your active account or is it activated for everyone (as in, do you just select the drop down box from account selection in CME/DAS and it will be there?)

Cheers

 

Hey, so how it works is that you get two accounts present in your 'account box' demo and live all the time. However if you do not maintain $500 balance you can only use the demo account and you need at least $250 min balance to have access to the platform in general...otherwise you will need to 'top off' your account. Just select which account you want to use in your montage or in your hotkey script. Hope this helps.

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1 hour ago, Benjamin said:

Hi Guys,

Has anyone cashed out profit from CME account yet? How easy and smooth was it? Have you noticed anything to be concerned about? I appreciate your feedbacks.

Thanks

I have not yet but I frequently talk to them over the phone on the matter, wire or mailed check, also talked to other traders who withdrew money and it worked just fine, just took a few days they said. They have a wire form on their site once you log in, it's pretty simple, no concerns. I will try to withdraw at 5k increments, that way it's also free with my Chase bank...I think. I think CMEG wire fee is $15-20...not exactly sure.

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I have a follow-up question on CMEG.  I understand the DEMO account is included with opening a new account with minimum of 250 or 500 (I forget the minimum).  This gives real-time data to trade on the DEMO.  However, although the DEMO account is free, am I still responsible for a $150 monthly fee for platform + data feed?  In other words, if I use CMEG for just the demo account, I'm still subject to pay $150 per month for the data feed and platform?  

 

Thanks

Edited by Bryan K

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My experience with CME has been horrible. When I first opened an account I received the $2.95 commissions. 

 

However a few days ago they all of the sudden started to charge routing and miscellaneous fees that now average out to over $6 a ticket. 

 

They will not respond to any emails to explain why. I’m trying to wire my money back now. 

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On 8/28/2018 at 4:36 AM, Bryan K said:

I have a follow-up question on CMEG.  I understand the DEMO account is included with opening a new account with minimum of 250 or 500 (I forget the minimum).  This gives real-time data to trade on the DEMO.  However, although the DEMO account is free, am I still responsible for a $150 monthly fee for platform + data feed?  In other words, if I use CMEG for just the demo account, I'm still subject to pay $150 per month for the data feed and platform?  

 

Thanks

Hi Brian K - 

The minimum for opening an account is $500

This give you a CME account and a TRCME account which is a DEMO account - the same as if you had bought it directly through DAS or Andrew - you just select which account you want to trade in the trading montage.

The Demo account is not free per se, it is still $150 per month for the platform fee and data feed.

So... in other words, it is the same price if you go through CME, Andrew or DAS. However, if you're going to open up a CME account anyway to trade, you might as well start the process of doing that and using your training CME account. 

Correct as well - if you only use the demo account you still get charged $150/month

Edited by Robbie Williams
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Does anyone have any idea whether CME charges a fee for funding an account? I deposited some money and it seems $15 is missing from the transaction somewhere in the process.

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Hey Robbie, 

Yes there is a fee for the deposit. I am not sure who takes this fee is is CME or the middle bank that is doing this on behave of CME. I try to find what the exact Fee is on their FAQ but is not listed there. I when back to when i deposited money and it was $15 that was deducted from my wire deposit as well. 

 

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Thanks Carlos. Yeah I was charged $15 as well.

in regards to SSR on CME stocks, I have received a reply from them stating that as they are an offshore broker, trades are executed in a prmicipal capacity and due to this, the company is not willing to bear the risk of the market position it imposes on the company. So therefore many stocks are unable to be traded during a SSR.

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Thanks Robbie, this is what I was looking for. Between stocks with SSR and stocks with no shares available for short, I find myself only able to go long on all but one or two stocks on the watch list. It's not really workable as a daily experience. I wish I would have known this before I signed up with them. I thought this was a better choice than Suretrader based on fees but if you can't trade shorts much of the time it just doesn't work.

Suretrader is offshore as well, right? Do they have a similar issue with SSR trades?

 

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8 hours ago, fullmoonguru said:

Thanks Robbie, this is what I was looking for. Between stocks with SSR and stocks with no shares available for short, I find myself only able to go long on all but one or two stocks on the watch list. It's not really workable as a daily experience. I wish I would have known this before I signed up with them. I thought this was a better choice than Suretrader based on fees but if you can't trade shorts much of the time it just doesn't work.

Suretrader is offshore as well, right? Do they have a similar issue with SSR trades?

 

Yeah I didn't know that they don't allow any shorts on SSR at all (that's been my experience so far).

Suretrader is based in the Bahamas but I would be wary of them. Daniel Thomas who was a previous student of Andrews made a youtube video in regards to suretrader which might be worth watching before deciding to go with suretrader. https://www.youtube.com/watch?v=iw24QMVhR-E&t=1283s

 

I think the recommendation here is to use an onshore broker as soon as you get enough $$$ to get one but until then, the recommendation is to go with CME over Suretrader. To my own knowledge, they are the only 2 that are available for day trading. 

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I had a weird experience with CME shorting a SSR stock. It was actually MU out of all of them and I kept getting errors. I finally was able to get filled with a limit order at the exact price as it upticked. By that time it went way past my entry and of course I lost money.

Very frustrating and I feel like the short list has decreased a lot.

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