Are Futures Contracts Charged Commissions Per Contract? Do CME Fees Apply to Each Contract?

Trading and Investing Helping Traders
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We are often asked how commissions and exchange fees are charged in futures trading. The answer is straightforward:

  • Commissions are charged per contract, per side (i.e., once when you buy/enter and once when you sell/exit). For example, if your broker charges $0.50 per contract, a round turn (buy + sell) would cost $1.00 in commission.
  • Exchange fees (CME, CBOT, NYMEX, COMEX, etc.) also apply per contract, per side. These are set by the exchange, not the broker, and they are charged each time you trade a contract.
  • When you trade a futures contract, your total cost per side = broker commission + exchange fee + NFA fee (if applicable).

Example:
If you buy 1 Micro E-mini S&P contract*:

  • Broker commission = $0.25 (example)
  • CME fee = $0.37 (set by exchange, varies by product)
  • NFA fee = $0.02
    Total per side = $0.77
    Round turn (in + out) = $1.54

Optimus Futures Fees and Commissions

FAQ

Q: Are commissions negotiable?
Some brokers allow lower commissions for high-volume traders, but exchange and NFA fees are fixed.

Q: Do exchange fees differ between products?
Yes. CME sets different fees for equities, commodities, interest rates, and crypto products. For example, Micro E-minis have lower fees than standard E-minis.

Q: What is the NFA fee?
The National Futures Association charges a small fee (currently $0.02 per side, per contract) to fund regulatory oversight.

Q: Do brokers add extra charges on top of CME fees?
No. Brokers pass exchange and regulatory fees directly through to the trader. What varies is the broker’s commission.

*Routing fees may apply based on the platform.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. The risk of loss in trading commodity interests can be substantial. An investor could potentially lose all or more than the initial investment. All traders should use ONLY risk capital.