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JasonH

CMEG Rates and Fees Including BBT Discount for "Active Trader" Account Type

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See chart and table attached comparing CMEG standard rates for small/medium/large trading volumes versus BBT discounted rates. I wanted to see how good the BBT discount was compared to CMEG standard rates and fees for an Active Trader account. And also see how this changes with respect to number of shares traded. Turns out the BBT discount is pretty substantial. (Thank you @Andrew Aziz) Especially if you're a low volume trader. For example, compare $5/trade VS $1.55/trade at 200 share trade size. That is, assuming my data is correct...

Please let me know if you see any errors here. Fee structures are from 7-12-19.

CMEG fee structure varies based on monthly share volume. I call them "small" (<350k shares traded per month), "medium" (350k-1M), and "large" (>1M).

References:

CMEG Active Trader Account Pricing
CMEG ECN, SEC, and FINRA Fees
CMEG-BBT Promotional Rates

 

CMEG Standard Rates - "Small" Active Account (<350k shares monthly volume)
Commission Rate: $3.95 up to 1000 shares/trade or $0.007 for trades > 1000 shares.
ECN Fee = ~$0.004/share (rough estimate)

CMEG Standard Rates - "Medium" Active Account (350k-1M shares monthly volume)
Commission Rate: $2.95 up to 1000 shares/trade or $0.005 for trades > 1000 shares.
ECN Fee = Same as small

CMEG Standard Rates - "Large" Active Account (350k-1M shares monthly volume)
Commission Rate: $1.95 up to 1000 shares/trade or $0.0035 for trades > 1000 shares.
ECN Fee = Same as small

CMEG-BBT Promotional Rates (when using SMART LAMP route)
Commission Rate: $0.004/share
ECN Fee = $0.0025/share
 

SEC and FINRA Fees (same for all account types)
SEC Fee = Stock Price * # Shares * 0.0000231
FINRA Fee = # Shares * 0.000119  ($5.95 max)

 

image.thumb.png.0143cd523ce3400bafbfebee2a4d7201.png

image.thumb.png.2863e9e78b7207086d805d660bb953d8.png

Edited by JasonHeidecker
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An interesting effect of the step up in fees at 1000 shares (non-BBT-discounted accounts) is that you can actually save ~25% in fees if you were to make two trades of 1000 shares instead of one trade of 2000 shares. The lowest fee/share percentage occurs around 900-1000 shares. That's where you maximize profit/loss versus fees.

Trade Size  Fee/Share($)
----------------   ---------------------
100              0.044
500              0.013
1000            0.009
>1000          0.012

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Jason this is an amazing post with really showing how great this new deal with CMEG is. Especially for anyone that is trading small and starting out. Good point about the 900-1000 share. Not an issue that many traders should have if they are using CMEG as most likely and hopefully they should not be trading that many shares when starting out (🤞).  Thanks for putting this together!

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Good afternoon all, 

Does CMEG charge a flat monthly fee for just being the broker? Or do they make their money strictly on the commissions, trading platform, data access, and fees? 

 

Thanks in advance, 

Andrew, from Jersey 

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1 hour ago, Andrew from Jersey said:

Good afternoon all, 

Does CMEG charge a flat monthly fee for just being the broker? Or do they make their money strictly on the commissions, trading platform, data access, and fees? 

 

Thanks in advance, 

Andrew, from Jersey 

Andrew, CMEG charges me $125 on the last day of every month for "Software & Market Data Fee DAS". I know it's confusing because I don't think that shows up anywhere on the public website.

Other than that, it's just the standard commissions, ECN fees, SEC, etc.

A very accurate way of estimating fees under the BBT discount code at CMEG is # of shares * .007. i.e. if you bought 1000 shares and sold those 1000 shares, the commissions/fees would be: 2000 * .007 = $14.

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@JasonH

Thanks for the clarity bro. Truth be told, I'm such an impatient SOB that I dug and dug through the bowels of the internet until I also verified what you're saying. Definitely need to make sure the BBT promo discount is applied to my account though, because the savings can be substantial in the long run. 

 

Thanks again,

Andrew 

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14 minutes ago, Upendra said:

I just want to be 100% sure about this - if we use BBT code, we will be able to get 0.004/share rate? I'm still trading on SIM but am planning to setup a CMEG account as soon as I am consistently meeting goals in SIM.

Thanks,

Upendra

That is correct. That is the commission. Then there is ECN and other fees to pay on top of it.

Here's my real fees for a trade yesterday on AMC. You'll see the commission is exactly .004/share, and you pay it when you buy as well as when you sell.

You'll see my 4th, 5th, and 6th partials were so small that I ran up against the minimum commission, which is 50 cents.

 

CMEG example commissions and fees.png

Edited by JasonH
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On Monday Oct. 20, I received a message on my trading platform from CMEG that said the normal LIMIT route is under maintenance and to use ARCAL until the maintenance is complete. What they didn't mention is that trading using that route will prevent the user from getting the BBT discounted commission rate. I took a few trades, made only 75 and paid 98 in commission. Since I partial in and out of trades, I got killed. I would have never traded at 3.95x2 per trade if I knew that was the case. I wrote an email back to CMEG to let them know I didn't appreciate that and don't feel I can trust them any longer. According to their message, it seemed like they were trying to improve my trading experience, but taking away a discounted route and offering only a full price one without informing me was wrong in my opinion. Be careful.

IMG_0708.jpg

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@JasonH  Quick question on CMEG routes.  I assume they are still working, SMART LAMP for BBT discounts.

 

I assume CMEG uses LIMT and  MARKET in hotkey scripts and just change NASDAQ default route to LAMP ?

 

 

Edited by Alastair

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@Alastair I found this in an email from CMEG: "Please note that the LAMP route will appear as Limit, Market, Stop on the DAS platform."

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Hi guys,

I would like to open an account with CMEG, but as I see the only commission structure right know is 2.95/ticker does that apply to BBT discount commissions too or we still have that 0.004/share commission?(as it was a year a go watching Carlos video).

And on more think my hot key scripts is those :

 For buy long: ROUTE=LIMIT;Price=Ask+0.05;Share=100;ACCOUNT=TRBBT3050;TIF=DAY+;BUY=Send

 Sell ROUTE=LIMIT;Price=Bid-0.05;Share=Pos*0.5;ACCOUNT=TRBBT3050;TIF=DAY+;SELL=Send

This is the scripts for DEMO account do I  need to change something in order to trade LIVE with CMEG like change the ( + ) at DAY as someone said (I don't know if that is correct) or use a specific route to have the discount commissions?

Thanks a lot!

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3 hours ago, Stavros Vasilakis said:

Hi guys,

I would like to open an account with CMEG, but as I see the only commission structure right know is 2.95/ticker does that apply to BBT discount commissions too or we still have that 0.004/share commission?(as it was a year a go watching Carlos video).

And on more think my hot key scripts is those :

 For buy long: ROUTE=LIMIT;Price=Ask+0.05;Share=100;ACCOUNT=TRBBT3050;TIF=DAY+;BUY=Send

 Sell ROUTE=LIMIT;Price=Bid-0.05;Share=Pos*0.5;ACCOUNT=TRBBT3050;TIF=DAY+;SELL=Send

This is the scripts for DEMO account do I  need to change something in order to trade LIVE with CMEG like change the ( + ) at DAY as someone said (I don't know if that is correct) or use a specific route to have the discount commissions?

Thanks a lot!

Hi Stavros

I went live a few weeks ago with a nominal amount in CMEG ($800) to test the waters. I traded for 2 days and went back to SIM to cool down a bit - the psychological difference between live and sim is punishingly vast. The comms average out at under a $1 per trade on the BBT discount - which I consider pretty good.

I was green the majority of days in SIM with 25k equity but I lost 1/3 of my equity in 2 days in the LIVE (nominal) account - i.e. in percentage terms  if I started with 25k this loss would have been enough to put me off trading for life.

For what it is worth - here is what I learned:

1. COMMS matters in low equity accounts - in proportion it can be as much as half of any loss/profit you make on the day

2. I would guess that there is a minimum amount of equity that is viable for day trading - $800 is woefully inadequate - I would hazard a guess at $10000 is a minimum- please correct me if you (or anyone else on BBT) think this is wrong.

3. Lower equity makes you take more risks - i.e. you tend to seek out lower priced and more volatile stocks - i.e.ie. forget TESLA!  

4. Set your SIM parameters to the style and amount of equity you intend to trade LIVE - and adjust your strategy accordingly

5. Honour your STOPS - it is very easy to cancel a stop in SIM and ride out the dip until it goes back up again (not really a low equity argument more a LIVE/SIM consideration)

I have attached my hotkey file for DAS - its based on hotkeys from Kyle it - and its very much a work in progress!

 

Hope it helps.

 

Cheers

 

Chris

 

Hotbuttoncmg.txt

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@Stavros Vasilakis BBT discount code is still valid at CMEG. That $2.95/order stuff doesn't apply in that case, just the per-share commissions.

@Blackbc I would say $3,000 is about the minimum account size needed at CMEG. I did a lot of comparisons of different brokerage commission structures (posted somewhere on these forums...) and in general you want to trade at least 200 shares per order to avoid the higher commissions and fees. You can see that below 200 shares the commissions and fee rates pick up a lot due to running into the minimums.

image.png.11b80a1425a97e575b02e0e3880652c0.png

At CMEG you get 6x margin so $3k equity is $18k BP which allows you to buy 200 shares of stocks priced as high as $90. I think that's pretty good in most cases. That's why I call $3k the minimum.

image.png.1b709660deb50b317d51ba701399fda2.png

 

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Hi everybody!

 

I just got my CMEG account approved and I am ready to go live! 

I am currently using DAS simulator and I want to switch to DAS (real money). 

I have read that there is a discount for BBT members. Do you know where I can find the code? 
Should I get the DAS subscription through BBT website? CMEG website? DAS website?
Where am I supposed to use the code?

Thanks guys, so many questions!

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