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Trading expenses for Futures Trading
23 Oct 2021 (106 views)  

I checked my statement for my futures trading on 22 Oct 2021.

I bought and sold 54 contracts for the day. The total commission was $342.90 (USD). The average commission per contract was $6.35.

I have to pay GST at 7%. The commission plus GST is $6.79 ($9.15 SGD).

Phillips Futures, which operates the Nova Trading platform, offer me a discounted commission due to the large volume of transactions. Their normal commission could be more than 2 times of the above rate.


Still, it is very attractive for them to have me as a customer. A commission income of $342.90 for one day of trading is a lot of money.
I made a trading gain of $14,320 for the day. My cost of $342.90 plus GST represents 2.56% of my trading gain.

Some days, I made a trading loss. I still have to bear the commission plus GST. So, trading can be quite costly and, over the long run, a losing proposition.

Tan Kin Lian


Trading expenses for Futures Trading
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I checked my statement for my futures trading on 22 Oct 2021.

I bought and sold 54 contracts for the day. The total commission was $342.90 (USD). The average commission per contract was $6.35.

I have to pay GST at 7%. The commission plus GST is $6.79 ($9.15 SGD).

Phillips Futures, which operates the Nova Trading platform, offer me a discounted commission due to the large volume of transactions. Their normal commission could be more than 2 times of the above rate.


Still, it is very attractive for them to have me as a customer. A commission income of $342.90 for one day of trading is a lot of money.
I made a trading gain of $14,320 for the day. My cost of $342.90 plus GST represents 2.56% of my trading gain.

Some days, I made a trading loss. I still have to bear the commission plus GST. So, trading can be quite costly and, over the long run, a losing proposition.

Tan Kin Lian