Currency futures overly expensive?

[PaulC]

Hi All, I think the brokerage costs on the CF's are outragous. For the currecy traders out there what other instruments do you reccomend? Has anyone looked at the warrants? What is the cost structure like? I put on the following trade this am and sold out over lunch time. My profit is less than my brokerage. Other SSF's you dont get charged brokerage if the buy and sell is done on the same day. bought 50 @ 7.2950 brokerage 855 exposure R364750 sold 50 @ 7.3575 Brokerage 855 Exposure R367875 Profit 1415 Brokerage 1710 Could I have some feedback from anyone else trading currencies. I just feel this cost structure is WAY out of line. Hell even my old spread account on GT247 was cheaper than this! - Paul C

[Ninja]

Paul, I trade forex extensively. Costs on OST are simply outrageous. I trade through IGINDEX.com - cost on the GBP/dollar is 0.5pips in and 0.5 pips out. Euro/Dollar 1pip in 1 pip out and indices such as the Dow are also 1 pip in and 1 pip out. No hidden costs, no catches. Its practically for free. If you trade intra day like me and need a sharp as sh*t platform at low cost this is simply the best you will find.

[SimonPB]

a buy/sell same day always gets charged both legs .. anyways warrants (in a warrants account) are a flat R50 +vat and strate .. no STT so depending on size way way cheap ..

[PaulC]

Simon, Ninja thank you Simon, Can I trade warrants from my normal account. I do have a warrants account but as i have to contact the helpdesk to move funds I stopped using it. Can I close it and simply trade from the one account? - P

[#5]

How does the above tally with the question posed on Chat forum under Educational by Pascal on 6 April titled "Currency Futures Trading Cost" and the subsequent answer by SimonPB on the same subject.

[SimonPB]

you can trade warrants in any account, but if not a warrant account then normal brokerage .. of course you can now also move money between accounts in real time via the website ..
pascal, tis as I said back then ..