Support Board
Date/Time: Mon, 27 Jan 2025 04:58:11 +0000
Futures Data + sierra charts so expensive?
View Count: 2221
| [2019-02-24 05:30:41] |
| User250896 - Posts: 8 |
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I am currently paying 75 dollars a month for this charting platform. is everyone experiencing the same thing. i feel like that is a little too expensive for just charting. i only want the Futures real time data on here, i have a futures trading account with TD ameritrade. how can I reduce the cost?
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| [2019-02-24 07:13:04] |
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We are working to bring the cost down. But one thing you can do is have a trading account with one of the supported brokers and use a back end trading service like CQG which minimizes the cost. Others will come in and comment on this. 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, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [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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| [2019-02-24 16:32:30] |
| binaryduke - Posts: 377 |
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Agree 100%
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| [2019-02-24 17:56:00] |
| User250896 - Posts: 8 |
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26 dollars lvl 3, then 35 dollars 100 symbols real time. then additional 16 dollars for full CME. 26+35+16 77 dollars to run this? @futtrader
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| [2019-02-24 18:07:08] |
| patrader - Posts: 92 |
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I don't understand your point. The 16 dollars for full CME isn't a cost that is related to SierraChart. It is a cost that they collect on behalf of the exchanges. You will not save that 16 dollars by using a different charting service. You will simply see it billed by someone different. You can bring the charting level 3 costs down to $17.16 per month if you pre-pay for the year. And you don't need to pay the $35.00 SC datafeed fee if you use a futures broker that will give you the CQG feed for free. You're probably also paying more in commissions to TD Ameritrade than you need to, because they don't specialize in futures. What's your monthly figure for overpaying on commissions? Ultimately, you pays your money you takes your choice.
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