[radar66]

Greetings

I must say that when I read postings where members mention that they pay $8 or even less for a round trip when trading I'm absolutely blown away. I live in Australia and we are really ripped off by our brokers. For example, I trade the Australian SPI (Share Price Index) and the brokerage is $30 plus 10% GST. I would be laughing if I could pay just $8.
I don't need a full service broker because, from my experience, most brokers know nothing about trading. They simply take my order and process it. Any advice I have received and acted upon has always cost me money, so I trust my own methodology, take no advice from anyone about my trade, and place my orders. And for this I have to pay a $30 round trip fee.
There are no discount brokers that I am aware of In Oz. Although I love living in Australia, we are ripped off at every turn and, being so far away from the USA and Europe, we miss out on great webinars that are so accessible to others.
So, make the most of your low costs which add to the profitability of your trades and reduce the cost of your losers.

[VMtrader]

Radar66,

Wow, I hate to say it but $30 is a lot if you are doing any kind of day trading. For my style I would need to have at least $5. I pay $1.18 plus exchange and regulatory (so $3.48 for e-mini). I'm pretty sure that its the same for any market and the best thing is they don't even have brokers there .

Vance

[radar66]

Hi Vance

Count your blessings.

Regards
radar66

[VMtrader]

Radar66,

Just out of curiosity, why don't you trade at a US broker offering the commissions and service that you want?

Vance

[youri]

Hi radar66 i am with MFG and pay alittle less-24$ round trip,which is less then 1 SPIpoint.For e-minis i pay 4.9$ round trip.Good luck Youri

[SIUYA]

open an account in a discount broker that offers the SPI - there are many out there - OEC, Interactive, MB - just to mention a few. (no affiliations)
Ensure the account is based in AUD
Be aware that the instruments may or may not be based in USD ( in this case the SPI is not so everything should be kept in AUD)
Also be aware that many overseas brokers will not offer the same discounts.
eg; the S&P is still less than the SPI
But you should be able to get it cheaper..... it almost sounds like you are going through a stockbroker to trade futures.

[VMtrader]

I pay only $1.18 commission for any market and I'm pretty sure SPI is one of them. I also have to pay whatever the exchange charges for fees.

Vance

[radar66]

Hi Vance

One of my "fears" is that if the internet goes down when I'm in a trade, contacting the broker in the USA could take too long. I always use a stop but endeavour to exit before it's hit. I've looked around at a number of futures brokers in the USA and none of them seem to provide access to the SPI. I guess we're just small fish over here.

I hope you're doing well with your trading. I must look into the eMinis but I have designed and tailored my trading methodology around the SPI. It may work in other markets but it's a real little earner with the SPI.

Best regards
Radar66