Support Board
Date/Time: Mon, 27 Jan 2025 19:19:52 +0000
Post From: Futures Data + sierra charts so expensive?
| [2019-02-24 16:05:05] |
| patrader - Posts: 92 |
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I'll chime in on this one. I don't know where your $75/month figure comes from. I also don't know of any serious futures trader who would trade futures with TD Ameritrade. Firms like that have futures as a side-business not their primary business. Go with a specialty boutique firm for futures trading if you want the best experience at the best price (& when you are talking pricing the savings in commissions alone could be worth it). You have to look at your total costs. In breaking down the costs for JUST charting i.e. the costs of just Sierrachart, see: Description of Service Packages and Pricing: Packages Level 3: 26 USD/month (or $17.16 month if you pre-pay for a year) Level 5: 36 USD/month (or $23.76/month if you pre-pay for a year) [You can see the annual discounts in your account]. I'm fine with Level 3 and for $17.16/month for a multi-broker platform its a steal. NinjaTrader (another popular futures platform) is $1,100 one-time purchase for single license and $1,649 one-time purchase for multi-broker license. Their leasing options are more expensive than Sierra too. I'm not here to knock NinjaTrader but SierraChart is simply better in my opinion. Then we look at datafeed costs. The exchanges have raw datafeed costs that are the same for everyone. Whether it is SierraChart or TD Ameritrade or any other broker collecting those fees it is a wash. The only difference in costs for data is whether the provider itself (above and beyond what the exchanges charge) has a fee. SierraChart does have an extra fee: https://www.sierrachart.com/index.php?page=doc/SierraChartRealTimeFuturesStockDataFeed.php#Pricing Can this extra fee be avoided ($35/mo. for 100 symbols)? Yes. If you go with some feed that the broker provides at no cost (I mean, no cost outside of the exchange datafeed fees they collect). If you want to find a futures broker (boutique firm) that will do this for you, you can. So if you pre-paid for the software at Level 3 then your monthly price is $17.16 + exchange data fees (the same for everyone). I personally pay the $35/mo, rather than use a broker-provided datafeed at no cost. That's because (to be blunt) I don't have time in my life for the bollocks that can occur when pumping gas made for a Chevy into a Rolls Royce. I want the gas made for the Rolls Royce pumped into the Rolls Royce, and I want the engine mechanic for the car to be the same guy pumping the gas. Date Time Of Last Edit: 2019-02-24 17:19:37
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