What incremental costs are associated with Gen3 trading at IB via BulldogFX? C2 fees? BulldogFX fees? IB fees? How computed in each case?
What similar fees (if any) apply to Gen3 trading via Open eCry or MB Trading?
I suspect this topic has been covered elsewhere, but am unable to locate. Such info, even if posted previously, may be out of date. Would appreciate any/all current info. Thanks.
Hi, Old Goat:
The costs for using Gen3 AutoTrading are the same, across all brokers (excluding brokerage commissions, which obviously vary across firms and instruments traded). The cost is $1.99 per futures contract bought or sold, or $0.50 per forex minilot bought or sold (a minilot is 10,000 currency units).
There are no other per-trade Autotrade-related costs for forex or futures, nor do we charge any sort of monthly technology fee for AutoTrade.
You asked about Interactive Brokers (IB) specifically, so I’ll point out here that IB only supports futures trading using Gen3 AutoTrade at this time. If you want to trade stocks at IB, you can also look into two very excellent software products: Trader68 and TradeBullet. Both these products are C2 compatible. You can run them on your computer and they will take signals published on C2 and send them into your IB brokerage account. They both do support stocks.
Matthew
Thank you for your prompt response, Matthew.
Are you aware of any incremental charges or fees paid to BulldogFX for their serving as an introducing broker to IB? Over and above C2’s fees and IB commissions, that is?
Also, when doing Gen3 Futures autotrading in increments above or below 100% of the system’s trades, are C2’s fees scaled up or down accordingly? That is, were I to limit trades to one contract when the system would otherwise buy four, does C2 collect only $1.99 in fees, rather than $8.96? Similarly, if I scale 200%, does C2 collect fees on 8 contracts rather that the system’s four? Not an issue, I just want to be sure I understand all aspects of C2’s Gen3 autotrade fee structure.
~OG
No, there are no additional costs imposed by Bulldog. The C2 fee ($0.50 for forex, $1.99 for futures) is the only incremental cost. (Note that, like most forex brokers, Bulldog may be compensated through the spread between the bid and the ask.)
Regarding quantity-based fees: the cost is $1.99 per futures contract. So if you trade 1 contract, it’s 1.99, 2 contracts it’s 3.98, etc. It doesn’t matter whether you trade those 2 contracts as one combined order or as two separate orders, etc. The price is per contract “filled” (executed).
MK
Hi OG,
Here is the Autotrade messaging fee breakdown:
Futures: $1.99 per contract executed
Forex: $1 per mini lot round turn
Stock and/or Options: $99 per month, flat rate, unlimited trades
Regardless of whether the brokerage firm requires the C2 trader to go through an introducing broker or not, the trader is charged the same Autotrade messaging fee. Traders dealing in Futures or Forex will see the Autotrade messaging fee on their Brokerage Account statement and traders dealing in Stock and/or Options have the fee processed through C2 for your convenience.
Please keep in mind that the system subscription fee and fees originating from the brokerage firm will be in addition to the Autotrade messaging fee. In a nutshell, a C2 Autotrader can expect a total of three costs involved when Autotrading: system subscription fee, Autotrade messaging fees, and brokerage firm commissions and other applicable fees imposed by the brokerage firm.
- Melissa
