Part 7 - Costs

Here is my list of trading software that I have found reliable. The costs are based on a real time package which is what is required for day trading.There are many more available

Charting software http://www.ensignsoftware.com

Ensign windows.. cost per month = £21

Brokerage firm http://www.interactivebrokers.com

Interactive brokers .. Minimum deposit required = £2,700

Commission (cost per round trip trade ) US futures £2.60. UK = £3.40. German = £2.80

Exchange fee’s US = free UK = £32/ month. German = £6 / month

Data feeds

If using interactive brokers the data feed is free, this feeds all market information into your charting software. If you do not wish to use interactive brokers as your online broker you will have to use a data feed company and the prices vary from £20 to £100 a month

Trade execution software. http://www.autotradersoftware.com

Again there are a few of these ranging from £20 to £60 a month I have listed the only the software I use

Autotrader software one time cost of donation £30

Broadband service .

BT broadband £26 / month

Monthly costs before placing a single trade

Ew £21+ Exchange fee +£32 BT + £26 = £79 or £3.95 a day

To put things in perspective if you win just 1 point trading the Ftse future per day you will make £10 less round trip costs.

If you win just 1 point per day trading ER2 you will make £55 less round trip cost.

Compared to some other businesses trading has very low over heads.