Support Board
Date/Time: Sat, 30 Nov 2024 01:56:50 +0000
Trying to migrate to Teton - specifically IronBeam and why I will stay on AMP / CQG
View Count: 5838
| [2022-12-17 03:50:12] |
| AlinGA - Posts: 14 |
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Hi, First and foremost I'm a SC user for almost 3 years and a big fan of the software ( enough to have a free-as-in-beer discord server - Sierra Charts Community with more then 500 members dedicated to help the new people and engage more experienced ones in a constructive dialog ). From the moment that I heard about Teton wanted to give it a try with a small account (1k) , and eventually 3 weeks ago decided to go with IronBeam. Shortly after that got an email with introductory list of commissions that quoted ES at 14.58$ roundtrip for ES and $4.00 for MES. With my answer to that that is a "highway robbery". And kind of shameful to take advantage of new traders like this. Email the guy to give me at least 1.40$ roundtrip for MES (trying to be decent - was a test account for Teton and those guys don't know how much I trade etc.) which he agree. Then .. he forgets to activate my account for 10 days, needs to be reminded to activate it which eventually did Wed - insisting that the funds didn't clear, even that on the online page showed that funds are there for at least a week and they use Plaid that clear much faster then regular ACH. Anyway - was not in a hurry so whatever. Tried the account and Teton worked as expected - but when I look at the statement shows a roundtrip of 2.40$ - so email him back - and now he tells me that I told him that just commissions to be 1.40 and he added the exchange separate like I'm a fricking idiot or something - when I was clearly talking about roundtrip So Monday I'll pull my money back and never touch that company again. So beware, and sorry to not use Teton it worked great in the test, but at what they ask for roundtrip - it makes more sense to me to just stay on AMP/CQG and pay those 0.10c . Thanks, Alin Date Time Of Last Edit: 2022-12-17 04:24:56
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| [2022-12-20 09:03:27] |
| quinatt - Posts: 9 |
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$14.58 round trip for one contract? with Ironbeam?? These guys just make up prices for people depending on how ignorant they think they are? I shoulda tried to sound a little smarter in the email i just sent them probably. Not sure why all this is so complicated. seems to be something wrong with every decision im about to settle on
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| [2022-12-20 09:33:31] |
| User282741 - Posts: 36 |
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I highly recommend you try Edge Clear. I moved from AMP to Edge Clear and it was a very good decision. Roundtrip costs around the same what you would pay in AMP, but their customer support is much, much better than AMP. Very friendly guys! Because I mainly trade EUREX markets I have to use CQG, but they offer Teton as well and they told me I would pay even lower prices if I used Teton. Date Time Of Last Edit: 2022-12-20 09:35:40
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| [2022-12-20 14:50:32] |
| Sierra_Chart Engineering - Posts: 17266 |
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This is a comment about Ironbeam and not Teton. We would expect there are brokers, who can give you better prices or the same as AMP. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2022-12-20 15:24:27
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| [2022-12-20 15:23:23] |
| Stage 5 Trading - Posts: 155 |
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Good morning and happy holidays, Stage 5 Trading is a bespoke brokerage firm that offers tailer made solutions to fit our traders needs and help them reach their goals. We do this all while offering discount commissions as well. To be able to provide the high level of service we desire, Stage 5 handles a large majority of the platform setup in house instead of needing the clearing firm's involvement on each request. Personally, I believe this allows us to provider a better customer experience by being able to handle issues more quickly and effectively. In addition, I believe we are able to save you money on commissions compared to AMP! You can open an account for as little as $100 and you will receive $0.20 per side commissions on the micros and $0.45 commissions on non micros plus exchange and regulatory fees. Please feel free to contact us and we will gladly assist you with any questions you may have and/or the process of transitioning your account and hopefully helping you improve your current trading solution. If you have questions or would like to speak to an assigned personal broker for details, please call us at 1-312-896-9897 or 1-800-258-6675. You can email us at sierrachart@s5trading.com and can also contact us here: https://stage5trading.com/contact/ If you are ready to move to the Teton Order Routing solution right away, we invite you to complete an application by clicking the blue button at the top of the https://stage5trading.com/ page that says Introducing Sierra Chart Teton Order Routing - Click Here to Open an account Thank you, Anthony Giacomin Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results. |
| [2022-12-20 17:58:15] |
| User90125 - Posts: 715 |
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The only reason I haven't switched over to Stage 5 Trading yet, is because their margin rates are simply not competitive with NinjaTrader (or even Transact, for that matter). As a bespoke trading firm, I believe that Stage 5 should be able to provide Teton order routing thru one of their clearing partners, Ironbeam, which may have better margin rates, but I'm unsure about how this would be managed effectively for the end user. Hopefully, Anthony can provide additional clarity on how his firm could handle this. |
 ninjatrader_futures_contract_details[1].pdf - Attached On 2022-12-20 17:52:17 UTC - Size: 136.34 KB - 233 views |
| [2022-12-20 19:18:20] |
| User13668 - Posts: 294 |
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Re post #5 Anthony, what does that make the ALL UP per side tranasaction cost for micros and non micros ie INCLUDING exchange and regulatory fees. If you need a specific instrument, quote for MES and ES. Cheers |
| [2022-12-20 19:55:07] |
| Stage 5 Trading - Posts: 155 |
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Hi Traders, Stage 5 has very competitive margins. Our intraday margin for the ES is $699.60 and for the MES $69.96. The all in rates for the round trip on the ES is $1.75 per side and $3.50 per round turn all in. For the MES it is $0.52 per side and $1.04 per round turn all inclusive. I hope that helps. Please feel free to ask anything we may be able to help with. Thank you, Anthony Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results. |
| [2022-12-20 20:02:40] |
| User90125 - Posts: 715 |
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Anthony, Is there an updated current list of intraday margins that traders can refer to? Thanks :) |
| [2022-12-20 20:07:12] |
| Stage 5 Trading - Posts: 155 |
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That is a good question. I don't believe there is a completely updated list with these margins as they very by platform. These margins are for Teton Order Routing. If you can give me a list of products, I can provide our intraday margins for each product. Keep in mind the lower the margin, especially Day Trading Margins, the higher the leverage and riskier the trade. Leverage can work for you as well as against you, it magnifies gains as well as losses. Let me know what products you would like the intraday margins for and I will post them as soon as possible. Thank you, Anthony Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results. |
| [2022-12-20 21:00:14] |
| User90125 - Posts: 715 |
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Here's a comprehensive list of products that I would be seeking competitive intraday margins for: ES - E-MINI S&P 500 FUTURES MES - MICRO S&P 500 FUTURES NQ - E-MINI NASDAQ 100 FUTURES MNQ - MICRO NASDAQ 100 FUTURES YM - E-MINI DOW JONES 30 FUTURES MYM - MICRO E-MINI DOW JONES 30 FUTURES RTY - E-MINI RUSSELL 2000 M2K - MICRO RUSSELL 2000 GC - COMEX 100 GOLD FUTURES MGC - MICRO 10 TROY OZ GOLD FUTURES SI - COMEX 5000 SILVER FUTURES SIL - COMEX MICRO 1000 SILVER FUTURES HG - COMEX COPPER FUTURES MHG - MICRO COPPER FUTURES CL - CRUDE OIL FUTURES MCL - MICRO CRUDE OIL FUTURES NG - NATURAL GAS HENRY HUB FUTURES UB - ULTRA 30 YR U.S. TREASURY BOND FUTURES ZB - 30 YR U.S. TREASURY BOND FUTURES TN - ULTRA 10-YEAR U S TREASURY NOTE FUTURES ZN - 10Y TREASURY NOTE FUTURES ZF - 5 YR TREASURY NOTE FUTURES ZT - 2 YEAR TREASURY NOTE FUTURES 6E - EURO FUTURES M6E - E-MICRO EUR/USD FUTURES 6J - JAPANESE YEN FUTURES 6S - SWISS FRANC FUTURES 6B - BRITISH POUND FUTURES 6C - CANADIAN DOLLAR FUTURES 6A - AUSTRALIAN DOLLAR FUTURES 6N - NEW ZEALAND FUTURES 6M - MEXICAN PESO FUTURES This would be very helpful in adjusting risk tolerance appropriately prior to placing a trade. Thanks in advance :) |
| [2022-12-20 21:17:41] |
| Stage 5 Trading Corp. - Posts: 31 |
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Here are our current day-trading margin rates for each of the product on your list. Our rates are based off of a percentage of the exchange margin so they are subject to change as exchange margins fluctuate. Margin rates also can be adjusted due to volatility, max position size, or other factors as well. ES - E-MINI S&P 500 FUTURES $699.60 MES - MICRO S&P 500 FUTURES $69.96 NQ - E-MINI NASDAQ 100 FUTURES $1,042.80 MNQ - MICRO NASDAQ 100 FUTURES $104.28 YM - E-MINI DOW JONES 30 FUTURES $495.00 MYM - MICRO E-MINI DOW JONES 30 FUTURES $49.50 RTY - E-MINI RUSSELL 2000 $382.80 M2K - MICRO RUSSELL 2000 $38.28 GC - COMEX 100 GOLD FUTURES $1,386.00 MGC - MICRO 10 TROY OZ GOLD FUTURES $138.60 SI - COMEX 5000 SILVER FUTURES $1,870.00 SIL - COMEX MICRO 1000 SILVER FUTURES $374.00 HG - COMEX COPPER FUTURES $1,265.00 MHG - MICRO COPPER FUTURES $126.50 CL - CRUDE OIL FUTURES $1,540.00 MCL - MICRO CRUDE OIL FUTURES $154.00 NG - NATURAL GAS HENRY HUB FUTURES $1,980.00 UB - ULTRA 30 YR U.S. TREASURY BOND FUTURES $1,430.00 ZB - 30 YR U.S. TREASURY BOND FUTURES $924.00 TN - ULTRA 10-YEAR U S TREASURY NOTE FUTURES $660.00 ZN - 10Y TREASURY NOTE FUTURES $484.00 ZF - 5 YR TREASURY NOTE FUTURES $330.00 ZT - 2 YEAR TREASURY NOTE FUTURES $1,496.00 6E - EURO FUTURES $583.00 M6E - E-MICRO EUR/USD FUTURES $58.30 6J - JAPANESE YEN FUTURES $682.00 6S - SWISS FRANC FUTURES $990.00 6B - BRITISH POUND FUTURES $616.00 6C - CANADIAN DOLLAR FUTURES $303.60 6A - AUSTRALIAN DOLLAR FUTURES $440.00 6N - NEW ZEALAND FUTURES $396.00 6M - MEXICAN PESO FUTURES $1,760.00 Feel free to reach out to us with any further questions! Thank you, Anthony Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results. |
| [2022-12-20 21:23:22] |
| Ironbeam - Posts: 9 |
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Edit: As this thread has moved away from its original purpose I'd like to clarify Ironbeam's stance on commissions and fees. The OP was quoted a commission rate by one of our broker-assisted account reps. Once the rep realized that this was a self directed account the fees were corrected. We apologize for the confusion and would like to make it clear that the rates mentioned at the top of this thread are not representative of what a self-directed trader on Sierra Charts would receive from us. Ironbeam is one of the only CME Group Clearing firms that offers Teton as well as extremely competitive commissions. As an FCM, our rates can depend on trading volume however we offer rates as low as 10 cents per side on micros and 25 cents per side on regular futures (plus exchange/nfa). We will be considering standardizing our rates offered to Teton users to compete with discount firms that do not offer Teton. This will give Sierra users an opportunity to work directly with CME Clearing FCM as well as keep their costs the same or better than a CQG or Rithmic connection. We wish everyone a happy new year. Mike Murphy - Director of Trading 312-765-7228 mike.murphy@ironbeam.com ** RISK DISCLAIMER: There is a substantial risk of loss in trading commodity futures and options. Past performance is not necessarily indicative of future results. Only risk capital should be used. Losses from commodity investments may be greater than the initial investment(s). Commodity trading is not appropriate for all investors, and a commodity investment must be evaluated in light of the potential for risk of loss as well as the possibility of profit. Date Time Of Last Edit: 2023-01-03 14:50:55
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| [2022-12-21 15:49:16] |
| User90125 - Posts: 715 |
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Thanks for the updated list, Anthony. Is there a specific link for former Transact users to signup and migrate to Stage 5 thru Teton? I seem to recall that there was... Do let me know so I can join your firm before the New Year. Cheers :) |
| [2022-12-21 15:55:10] |
| Stage 5 Trading - Posts: 155 |
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My pleasure! Please use the following link to open with Stage 5 and Teton Order Routing at Dorman Trading - https://www.dormanaccounts.com/eApp/user/register?brokerid=232 Please note that if you are a TransAct user that opens, funds, and log into their Stage 5 Trading Teton Order Routing account by the end of the year, you will qualify for the 3 months free Sierra Chart! If you have any questions or we can help with anything further, please let me know. Thank you and happy holidays, Anthony Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results. |
| [2022-12-22 18:09:37] |
| User90125 - Posts: 715 |
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Well I've opened and funded my account this morning, as I'm looking forward to trading via Stage 5 once my wire posts. So far, the onboarding process has been streamlined and without issue. If you could confirm that the Teton Order Routing thru Stage 5 & Dorman will incur no per contract transaction routing fees, and no monthly API connection fee as well, that would be helpful. Hoping I can trade my Stage 5 account thru Sierra Chart seamlessly, without any of the issues that plagued users of other firms; don't know yet if my monthly SC fees will be debited directly from my Stage 5 account, or whether I'll have to come out of pocket each month to cover them myself though. Should be able to get up and running before the New Year with Stage 5 to qualify for that 3 month bonus too! Thanks, and enjoy your holidays as well :) |
| [2022-12-22 18:32:56] |
| Stage 5 Trading - Posts: 155 |
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Excellent news! We look forward to getting you setup and ready to go once your funds are received! All we need is your Sierra Chart User Name, so feel free to email that to sierrachart@s5trading.com and we will get this setup for you right away. I am happy to hear the process has been seamless thus far and look forward to your feedback on the rest of our services once fully up and running! I think you are going to be happy you made the decision to make the transition. Let's get you connected by the end of the month so you can enjoy the 3 months free of Sierra Chart. We look forward to working and building a long term partnership with you. Best, Anthony Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results. |
| [2022-12-22 18:36:49] |
| John - SC Support - Posts: 36350 |
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If you could confirm that the Teton Order Routing thru Stage 5 & Dorman will incur no per contract transaction routing fees, and no monthly API connection fee as well, that would be helpful.
There are definitely no routing fees for the Teton Order Routing Service and we do not charge any API Connection fees. But you need to check on the API Connection Fee with Stage 5 to see if this may come from something else. don't know yet if my monthly SC fees will be debited directly from my Stage 5 account, or whether I'll have to come out of pocket each month to cover them myself though.
Your Sierra Chart fees (software and exchange fees) are paid to us (Sierra Chart) directly and are not paid through your broker. You will need to continue to put funds into your Services Surplus with us in order to continue to use Sierra Chart. --- If you have not already been pointed to it - make sure you go through the Setup Instructions starting at Step #6 at the following link once you get confirmation that you are all setup with Stage5: Sierra Chart Teton Futures Order Routing: Setup Instructions For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-12-22 18:46:08] |
| Stage 5 Trading - Posts: 155 |
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There are no monthly API connection fees for Sierra Chart Teton Order Routing with Stage 5! Best, Anthony Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results. |
| [2022-12-22 19:22:17] |
| User90125 - Posts: 715 |
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That is good to know. Just emailed sierrachart@s5trading.com with my username to get the ball rolling on the account setup. I haven't heard from an assigned broker yet, just Anthony (and his VP Byron), so I'm sure someone will be tasked with dealing with me, and holding my hand, in short order. Could you tell me how to get a copy of the custom Stage 5 Trade DOM that I saw in one of your webinars? One other question - say I take a month off from trading, will any inactivity fees be levied against my account? Maybe if you could point me to a comprehensive fee sheet to refer to, that would be helpful too. Thxs. |
| [2022-12-22 19:32:46] |
| Stage 5 Trading - Posts: 155 |
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Good to go! You can reach out to the team at any time. Client-services@s5trading.com or sierrachart@s5trading.com and you should be taken care of in extremely short order. Other than that, we sent the Stage 5 TransAct "look alike" DOM and instructions, so you should have them available now. If you have any issues just let us know. There are no inactivity fees associated with your account. Another benefit of moving from TransAct to Stage 5 Trading with Sierra Chart Teton Order Routing! Let me know if you have any additional questions or I can assist with anything further. Thanks again, Anthony Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results. |
| [2022-12-22 21:21:57] |
| User90125 - Posts: 715 |
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Tried to setup my charts thru Teton using the information on this page: Sierra Chart Teton Futures Order Routing: Setup Instructions ...but I got an error message: Teton CME Order Routing | Connection error: No trade accounts assigned. | 2022-12-22 15:50:53.712 *
Guess I should wait until tomorrow when the backend is fully setup by Dorman? |
| [2022-12-22 21:30:51] |
| Stage 5 Trading - Posts: 155 |
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Unfortunately, that is correct. We need to receive the funds and have them post on the statement first before we can activate the account. Hopefully, this will be tomorrow. Fingers crossed. Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results. |
| [2022-12-23 16:08:42] |
| User90125 - Posts: 715 |
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Looks like the backend setup has been completed by Dorman this morning, as I've finally been able to logon to the Teton CME Order Routing solution successfully. Thanks - and happy holidays :) |
| [2022-12-23 16:43:53] |
| Stage 5 Trading - Posts: 155 |
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Excellent news! Fairly quick and hopefully painless. Glad you are up and running and part of the team. We look forward to building a long-term partnership with you for many years to come. Merry Christmas and welcome aboard! Best, Anthony Stage 5 Trading Trading derivatives carries a high degree of risk, and may not be suitable for all investors. Past performance is not necessarily indicative of future results. |
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