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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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On 7/2/2019 at 12:36 PM, Nomen Ama said:

CMEG charging me every commission for every fills. I bought 100 shares of stock and it gets filled 3 times and I get charged 3 times commission. The same goes when selling shares. Funnily enough, this only happened a couple of weeks after my account activation on June 10th. Sometimes they charge me $1 per order sometimes $3.50. I can't quite figure out their commission structure. Furthermore, I don't get charge for software and market data fee after my account activated as claimed by the previous reviewer. I only get charged this on July 01st. 

I spoke to a few people who did a review about them on Youtube and they were confused about this. I sent them an email yesterday and today they sent me an automated email stating that the ticket is closed. I didn't receive any response. Very spooky. Anyone else experiencing this?

@Nomen Ama I'm no expert, but this sounds normal to me. 3 fills is like three trades. So you'll pay roughly the same commission+ECN+SEC/FINRA whether its 1 fill or 3 fills. What matters is the total number of shares.

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@JasonHeidecker  but I believe I see your point.  Are you saying that regardless of many fills it takes to complete a trade, the costs of commission + additional fees comes out the same because the commission structure is based on # of shares   In other words, 1 fill to buy 500 shares = 4 fills to buy 500 share?

 

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Hello, does this look right? Why is the ECN fees so high? It states that I made 11 trades in total but in reality it was only like 4 trades. 

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Hi,

The commission data on the Das Trader Pro is not accurate to what you really was charged, it is still showing old commission structure. You can confirm that by checking the number of trades (8 tickets X $2.95 old commission = $23.60).

If you already have emailed CME and advised them to apply the Bear Bull Traders promo  your statement today and you will show correct commission and ECN charges. Do not go by the account report for commission and ECN fees they are not correct. 

We are now on a per share commission below

Bear Bull Traders members would receive a commission rate of 0.004 per share=
with an ECN Fee of 0.0025 per trade.

FYI:

There were some issues on the backend in regards to commissions the last couple of days, see my post here for more details.

Thanks. 

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2 hours ago, Carlos M. said:

Hi,

The commission data on the Das Trader Pro is not accurate to what you really was charged, it is still showing old commission structure. You can confirm that by checking the number of trades (8 tickets X $2.95 old commission = $23.60).

If you already have emailed CME and advised them to apply the Bear Bull Traders promo  your statement today and you will show correct commission and ECN charges. Do not go by the account report for commission and ECN fees they are not correct. 

We are now on a per share commission below

Bear Bull Traders members would receive a commission rate of 0.004 per share=
with an ECN Fee of 0.0025 per trade.

FYI:

There were some issues on the backend in regards to commissions the last couple of days, see my post here for more details.

Thanks. 

Thanks Carlos for your response. I emailed them a while ago and it seems that they acknowledged that I am a part of the Bear Bull community, but I emailed them again regarding this issue so we will see how it goes. 

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I just found this and maybe the fees are correct? I took 8 trades, each trade = 1000 shares. Commission rate of 0.004 per share x 1000 = $4 for each trade. ECN fee of 0.0025 per trade x 1000 = $2.5 per trade. ( $4 x 8 ) + ( $2.5 x 8 ) = $32 + 20 = $52 -> Then add SEC + TAF and MISC then it is about $54. Does that seem correct or I'm I missing something here? I hope I am not correctbecause if this is correct then I am struggling to see how I can even beat the commission + ECN fees in this game of trading 😞

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42 minutes ago, AAgnostic said:

I just found this and maybe the fees are correct? I took 8 trades, each trade = 1000 shares. Commission rate of 0.004 per share x 1000 = $4 for each trade. ECN fee of 0.0025 per trade x 1000 = $2.5 per trade. ( $4 x 8 ) + ( $2.5 x 8 ) = $32 + 20 = $52 -> Then add SEC + TAF and MISC then it is about $54. Does that seem correct or I'm I missing something here? I hope I am not correctbecause if this is correct then I am struggling to see how I can even beat the commission + ECN fees in this game of trading 😞

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Hey Aagnostic

 

Can you please send through your hotkey script or order template screenshot that you have used for the above trades?

 

Thanks

Jay

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3 minutes ago, Jay said:

Hey Aagnostic

 

Can you please send through your hotkey script or order template screenshot that you have used for the above trades?

 

Thanks

Jay

Hotkey scripts:

 long 1000: ROUTE=SMRTL;Share=1000;Price=Ask+0.10;TIF=DAY;BUY=Send

short 1000: ROUTE=SMRTL;Share=1000;Price=Bid-.10;TIF=DAY;SELL=Send

sell 60%: ROUTE=SMRTL;Share=Pos*0.6;Price=Bid-.10;TIF=DAY;SELL=Send

cover 60%: ROUTE=SMRTL;Share=Pos*0.6;Price=Ask+0.10;TIF=DAY;BUY=Send

sell all: ROUTE=SMRTL;Share=Pos;Price=Bid-.10;TIF=DAY;SELL=Send

cover all: ROUTE=SMRTL;Share=Pos;Price=Ask+0.10;TIF=DAY;BUY=Send

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I really don't see the benefits of the new commission structure with CMEG (assuming we are purchasing more than 740 shares).  It seems it was beneficial for us to trade at the flat rate of 2.95 per trade flat, as the commission per share with the new structure begins costing more once you reach more than 740 shares.  Am I missing something?

Edited by kroniclesking

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The benefit is for traders starting out with small accounts, trading lower shares.


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People that spend their time telling others what can't be done only annoy those of us out there doing it.

 

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Hey everyone a lot of great comments here. Just my opinion on some of this as we have seen this type of topic come up quite often. 

8 hours ago, AAgnostic said:
 
 
0
 Advanced issues found
 
 
1
7 hours ago, AAgnostic said:

I hope I am not correctbecause if this is correct then I am struggling to see how I can even beat the commission + ECN fees in this game of trading 😞

Hey AAgnostic, 

That is correct you have the right commission pricing. I respect your point of view and I agree commissions suck but let's do some math here and is important to look at every trade individually. 

You had a monster trade on CRZO with the size you traded you made $285.50. Cost of this trade in commissions $26.52. Net Profit $258.98! That is 4% of your account! That is amazing. I would take this every day of the week! 4%!!! sorry, I am excited because that's really good. You cannot get that type of return anywhere.

So let's leave that trade alone is a winner done and it covered its cost. 

On the losing trade of $230, roughly the same cost of commissions and you come out losing a total of $257.33.

So thinking in general probabilities and not getting into the details of your actual strategies, your trading plan, profit-taking. If you are 60% right on your trades and you take at least 2 to 1 risk to reward you are going to clear commissions on your winners easily.

Let's say you were not charged any commission at all. Your P&L would be $54 bucks. The issue here is not the commission the issue here is the loss, not including commissions, is almost as big as the winner. Losing trades have to be half of our winners or else no matter what commission plan we are in the numbers are not going to work out long term. 

There is no question CMEG is not the best commission out there but that's really the best option for small accounts. 

 

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@Carlos M.  I appreciate the insight into this.  I like your point as it comes back to managing risk among all your trades and aiming for AT LEAST 1:2 risk/reward in order to offset the commission and fees.  

I think if you can manage that kind of risk and be profitable with commission costs that CMEG offers, then you would do awesome with a broker that offers better commission for a large account.  

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4 hours ago, kroniclesking said:

I really don't see the benefits of the new commission structure with CMEG (assuming we are purchasing more than 740 shares).  It seems it was beneficial for us to trade at the flat rate of 2.95 per trade flat, as the commission per share with the new structure begins costing more once you reach more than 740 shares.  Am I missing something?

Nope, you are not missing anything, if you do not partial out often to take profits, then $2.95 per ticket comes out better after a certain number of shares. 

So is important to check your trading style and plan and see what works best for your trading style. If $2.95 works better for your trading style. Contact CMEG they will move you back to the regular $2.95 per share, I am sure they will move you back to the $2.95 per ticket plan.

It all depends on your style of trading, for anyone trading small size and taking several partials, per share is the way to go. 

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It's also a bit confusing because it shows 11 trades, but if you look at tickets above, there are only 8. The difference is the partial fills you get, but you aren't charged for those.


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People that spend their time telling others what can't be done only annoy those of us out there doing it.

 

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