Check this out – The hidden costs that retail brokers charge with lack of service WILL surprise you!
Firstly, you may have noticed that EVERY Retail Introducing Broker that most retail independent traders turn to for new Futures Trading Accounts will offer the following as sales tools for your account:
- FREE Trading Platforms – (Which are NOT Free as they will charge you on each contract! in the end you pay out more!)
- Scary Low Day Trading Margins (Meaning that they will let you trade much bigger than you should!).
- Very low account open funding amount (i.e.$1000-$2000).
HOWEVER, non will offer you a Risk Limit on your actual trading account, with Risk Monitoring for each trader like Professional Trading Firms do.
It may surprise you that most professional Traders that make money trading for a living, don’t necessarily know more than you, they just have better Risk Management and Monitoring.
Some retail traders fall for the idea of a free trading platform over something like TT X Trader, which may charge an upfront fee per month, HOWEVER you will not pay MORE per side for each contract. This is why I would rather pay £500 for TT XTrader rather than an extra $0.30 per contract per side, which on around 50-100 contracts in a day (Which most traders easily do!) is aroun £1200 GBP per month, so its actually a saving of £700 GBP with this example!
However we understand that is a high cost for many small account\new traders, so lets show and example with an even cheaper platform – CQG Q Trader: at $20 USD with cme exchange data at $55 per month (Total $75 per month) – then they may add 0.25c per contract per side.
HOWEVER nevertheless with our lower fees in total for every ES contract traded it’s just $1.30 per side (IIP rates) a total of $2.60 per round turn which is a saving of around $1.50 for every contract you trade in comparison to a typical retail broker rate with this platform.
On just 100 contracts per day if you save $150 per day with an average of 20 trading days in a month that’s wround $1500 saving and banked in your pocket from just switching to clearing through us and our Partnered Clearing Firms. Imagine if you trade bigger which at some point you sure will!
You can see how quite quickly your cost for a more expensive platform like TT X Trader becomes insignificant!
The great thing is that both CQG will also cap the transactional costs as a maximum of $500 too!
So you can see the small upfront costs become easily recouped with a massive profit on top!
Oh yeah another massive benefit is that you can use the CQG live data to power MarketDelta, Investor RT, Ninja Trader and Sierra charts to name but a few. So you can save around $150 to $250 on Data feeds too!
Then the MAIN benefit that Mindful Traders offer is a DUAL Risk Management and Monitoring Layer, with a Risk Management Desk at a City based Prop Firm, as well as us at Mindful Traders. We can set Risk Limits per account per day, and per product. Blowing up accounts and experiencing large down days becomes a thing of the past, and should never happen anyway!
If that is not already enough we also provide FREE coaching and Trading Reviews for all our traders, with coaches from TheTradingFramework.com – Saul Knapp and Kam Dhadwar – we offer these at NO EXTRA cost every month for 6 months and then every 2 months thereafter.
More information contact us at: firstname.lastname@example.org