Futures Brokers Compared: Real Costs, Margins and Execution

By Marcel Hambálek · Senior Trader, For Traders

The cheapest futures broker for you depends on volume: for 20-40 round turns a month on MES/MNQ, discount FCMs and introducing brokers like AMP Futures, Optimus Futures and Tradovate land around $1.00-$1.60 all-in per micro round turn, while ES/NQ trades run roughly $3.50-$5.00 all-in once CME exchange fees, the NFA assessment and platform/routing charges are added to the headline commission. Every figure below is as of August 2026 and must be verified with the broker before you fund.

Key takeaways

• Headline per-side commissions are marketing; your real cost is a four-layer stack — broker commission, CME exchange fee, NFA assessment and platform/routing fee — and only the all-in round-turn number is comparable across brokers.
• A 100 round-turn month costs roughly $100-$160 on MES, more on MNQ, and $350-$500 on ES at typical discount pricing — data and platform subscriptions can add another $10-$105 a month on top.
• The $40-$100 micro and $400-$2,000 E-mini 'day trading margin' is a broker concession, not CME SPAN margin, and it can be raised before CPI/FOMC or withdrawn entirely at the intraday cut-off.
• Above roughly 200 round turns a month, per-side commission and connectivity stack (Rithmic, CQG, Tradovate or native) matter more than anything on the marketing page — fill quality and DOM behaviour decide scalping outcomes on NQ.
• Always confirm which entity is the FCM holding your margin versus which is the introducing broker, and check both on NFA BASIC before wiring funds.
• If your constraint is account size rather than skill, a futures prop challenge on simulated capital is a different product with its own rules and high failure rates — not a substitute for a live account, but a lower capital outlay route to size.

Watch: related video

Best futures brokers at a glance (August 2026)

For raw micro-contract cost, AMP Futures and Tradovate currently sit at the bottom of the fee stack; for platform depth and order-flow tools, NinjaTrader and TradeStation lead; for institutional-grade clearing and cross-margining, Interactive Brokers (IBKR) is the pick. Figures below are current as of August 2026 and pulled from published rate cards and margin schedules — verify before you fund.

How to read this table

Read "all-in" as the number that actually hits your fill confirmation: base commission plus CME exchange fee, NFA regulatory assessment, and clearing/data pass-through. That's the only honest way to run a futures broker commission comparison 2026 — a headline rate that excludes the CME's per-contract exchange fee looks 30-40% cheaper than it really is. When you're stacking Tradovate vs NinjaTrader vs AMP Futures side by side, pull each figure from the same line item on their rate card, not from a marketing banner.

Which numbers are per side and which are round turn

Every commission figure in this table is quoted round turn (RT) — one buy and one sell, the full trade — unless we've flagged it "per side" in the cell itself, as with IBKR's tiered schedule, which we've converted to RT for apples-to-apples comparison. This distinction is where most broker comparisons quietly fall apart: a platform advertising "$0.85 per side" on micros is actually pricier than a competitor's "$1.29 round turn," and traders shopping for the cheapest broker for micro futures get burned assuming both numbers mean the same thing.

Rate cards, margin schedules and data fees move without notice — brokers adjust intraday margin multipliers around FOMC and NFP, and exchange fee changes get passed through same-day. Confirm current numbers directly with the broker and cross-check registration status on NFA BASIC before you wire funding capital.

The four cost layers every futures trade pays

A futures round turn is never one charge — it's four stacked charges, and your broker only controls one of them. Commission is the layer that shows up in the marketing email; exchange fees, the NFA assessment, and platform/routing costs are set by CME Group, the regulator, and your data vendor, and they're identical whether you route through a $0.09-per-side discount FCM or a $0.85 full-service desk.

That's the detail that makes rate-card comparisons misleading. A broker advertising $0.09 per side on MES looks ten times cheaper than one at $0.85 — until you add the roughly $1.20-$1.40 in exchange, NFA, and routing fees that both brokers pass through unchanged. Once you're looking at the all-in round turn, the gap between "cheap" and "expensive" often collapses to under a dollar.

Layer 1: broker commission

This is the only negotiable layer — the fee your broker or introducing broker keeps for clearing and platform support. On micros like MES, MNQ, and MGC, commission-only pricing typically runs $0.09-$0.50 per side among discount FCMs; on E-minis (ES, NQ, GC) it climbs to $0.85-$2.25 per side depending on volume tier and whether you're on a commission-plus or commission-included plan.

Layer 2: CME Group exchange and clearing fees

Set by CME Group, this fee is fixed per contract per side regardless of broker. Micro contracts (MES, MNQ, MGC) carry a small fraction of the exchange fee charged on their E-mini or full-size counterparts (ES, NQ, GC) — it's proportional to contract size, not broker choice, and it changes on CME's schedule, not yours.

Layer 3: NFA assessment

Every round turn also carries an NFA assessment fee, a small per-contract charge that funds the National Futures Association's oversight of FCMs and introducing brokers. It's flat, non-negotiable, and identical across every registered US futures broker — it's part of why the "hidden costs of trading futures at online brokers" narrative persists even among traders who think they've found the cheapest shop.

Layer 4: platform licence and routing fees

The final layer covers your platform license (think NinjaTrader, Tradovate's own platform, or a third-party DOM) and order-routing costs charged by the exchange or a routing venue. Some brokers bundle this into commission; others itemize it separately, which is why two "identical" $0.85 rate cards can produce different all-in totals once you check the fine print.

Figures are illustrative round-turn ranges based on typical discount FCM pricing as of August 2026 — confirm exact numbers with your broker before funding, since exchange fee schedules and routing charges shift without notice.

How much do futures fees add up? A 100 round-turn month priced out

At typical discount pricing, 100 round turns a month on MES costs roughly $100-$160 all-in; the same 100 round turns on full-size ES runs roughly $350-$500 — a 3x-4x cost multiplier for identical directional exposure, minus the leverage. That gap is the single biggest lever a retail trader controls, bigger than which broker you pick. Below is the arithmetic, line by line, so you can run your own rate card through it.

100 RT on MES: discount vs full-service pricing

Cost per round turn MES at a discount FCM sits around $1.00-$1.60 all-in (commission + CME exchange fee + NFA assessment + routing). Multiply by 100 and you land at $100-$160 for the month. A full-service or legacy retail broker charging $2.50-$4.00 per side pushes that same 100 RT to $250-$400 — more than double for the exact same fills, same exchange, same margin requirement.

100 RT on MNQ: same maths, higher exchange fee

MNQ runs the same commission structure as MES at most discount shops, but CME's exchange fee on the Nasdaq micro is slightly higher than on the S&P micro. That nudges the all-in round turn to roughly $1.20-$1.90, or $120-$190 for 100 RT. Small difference per trade, but it compounds — a trader doing 200 RT/month on MNQ instead of MES is paying $20-$60 extra purely on exchange-fee mechanics, before commission even enters the picture.

100 RT on ES: where the E-mini step-up hurts

This is where contract size, not broker choice, does the damage. ES exchange fees run several multiples of the micro rate, and most discount FCMs also charge a higher flat commission on full-size contracts. Add NFA assessment and platform/routing, and 100 RT on ES lands at $350-$500 — versus $100-$160 on MES for the same market direction. If you're trading ES because "that's what everyone trades," check whether your account size actually needs 10x the notional, or whether MES with a bigger position count gets you the same exposure at a quarter of the fee drag.

Adding the monthly data and platform bill

None of the above includes CME market data fees for retail traders, which run roughly $10-$105/month depending on whether you're classified non-professional or professional, and whether you bundle Level 1 or full depth-of-market. Add a platform licence — often $0 on a broker's native tool, $50-$100/month for third-party DOM software — and your fixed monthly cost floor can range from $10 to over $200 before a single commission dollar is charged.

This is where volume decides the best broker for low futures commissions question more than the rate card does. Spread $105 in data fees across 20 RT/month and your effective cost per trade jumps by roughly $5.25 on top of commission. Spread that same $105 across 100 RT and it adds about $1.05 per trade. Low-volume accounts get punished by fixed costs far more than by the commission line — which is exactly why a trader doing 15 RT/month should weight data-fee waivers and platform-inclusive pricing more heavily than the headline per-side commission number.

Intraday day-trading margin: a concession, not a right

Intraday day-trading margin — $40-$100 on micros like MES and MNQ, $400-$2,000 on E-minis like ES and NQ — is a discount your broker grants, not a number CME Group sets. CME publishes SPAN margin, the exchange's risk-based overnight initial margin. Your broker's intraday day-trading margin sits on top of that as a courtesy, and it reverts to full SPAN margin at the broker's intraday cut-off — often with no warning if you're not watching the clock.

SPAN margin vs broker intraday margin

SPAN (Standard Portfolio Analysis of Risk) is CME's own margin methodology — the floor every clearing firm must respect for positions held overnight. Intraday day-trading margin is a separate, broker-set number designed to let active traders use less capital while a position is open during the session. The gap between the two is the entire reason "low margin" gets marketed so hard: a broker offering $50 intraday margin on MES against roughly $1,500-$1,700 in overnight SPAN initial margin is extending leverage the exchange never guaranteed.

What happens at the intraday cut-off

Every broker sets a cut-off time — commonly somewhere between 2:45 and 4:45 p.m. CT for CME products — after which any open position is margined at the full overnight SPAN rate, not the intraday concession. Hold an ES position past that window without enough excess equity to cover the jump from $500 to $16,000, and the broker's risk desk will liquidate you, not politely ask. This is the single most common way a trader who was "just holding a runner" gets force-flattened at the worst possible tick.

Margin hikes before CPI, FOMC and NFP

Brokers routinely raise both intraday and overnight margin requirements ahead of scheduled volatility — CPI, an FOMC rate decision, NFP — sometimes with as little as 24 hours' notice. A position you sized against yesterday's $75 MES margin can wake up needing $150-$300 the morning of the print, and if your account doesn't have the buffer, the broker reduces your size or issues a margin call before the number even hits the wire. This isn't arbitrary — it mirrors CME's own practice of adjusting SPAN parameters around known event risk — but it's the broker's discretion on timing and magnitude that catches undercapitalized accounts off guard.

Questions to ask before you size up

• What's the exact intraday day-trading margin cut-off time, and does it change on early-close or holiday sessions?
• How much notice do you give before margin hikes ahead of CPI, FOMC and NFP — and is it published or account-specific?
• What's the overnight SPAN margin I'd owe if I get caught past the cut-off?
• Do margin requirements differ between the futures day trading margin requirements on your platform vs. routing through a different execution venue?

Ask these before you fund, not after a margin call answers them for you — it's the difference between finding the best broker for futures trading with low margins and good execution, and finding out the concession only worked until the market got interesting.

Execution and connectivity: Rithmic vs CQG vs Tradovate vs native

Your connectivity stack — not your commission sheet — is what decides whether your stop actually fills where you clicked. If you're comparing DMA brokers for futures margin rates, data fees and exchange connectivity, treat Rithmic, CQG, Tradovate and native broker routing as four different products, not four logos on the same pipe. Each one changes your latency profile, your DOM behaviour, which order types you can actually use, and — at most brokers — which commission tier you qualify for.

Rithmic: the scalper's default and why

Rithmic is the infrastructure most scalpers gravitate to for NQ and ES because it was built for low-latency order routing and pairs cleanly with Sierra Chart and other DOM-first front ends. Fill confirmations and cancel/replace round trips tend to run tighter on Rithmic than on retail-oriented stacks, which matters more than a two-cent commission difference when you're working size off the DOM during the opening thirty minutes. Most brokers offering Rithmic charge a separate monthly data/connection fee, often $75-$130, layered on top of your per-contract commission.

CQG: data integrity and order-type depth

CQG earns its seat at institutional and semi-institutional desks on data integrity — clean tick data, deep order-type support (OCO, bracket, iceberg-style scaling) and reliable historical data for backtesting. It's less about shaving milliseconds and more about not getting a phantom fill or a stale quote mid-session. If your edge depends on precise order-type logic rather than raw speed, CQG's depth often outweighs Rithmic's latency edge.

Tradovate: cloud-native, no licence fee

Tradovate skips the traditional monthly platform licence entirely — it's browser and app-based, cloud-native, and commission is often bundled into a single per-contract rate instead of commission-plus-data-fee-plus-platform-fee. That's attractive for lower-volume traders, but you're trading some of Rithmic's raw DOM responsiveness for simplicity and zero setup friction.

Native broker routing and TradingView bridges

Native routing — the broker's own execution path, no third-party gateway — usually carries the lowest connection fee (sometimes zero) but the widest variance in order-fill behaviour during volatile windows like FOMC or NFP. TradingView bridges built on top of Rithmic or CQG give you TradingView's charting with real DOM execution underneath, but you're paying for both the bridge and the underlying data feed — check that stack before assuming it's the cheap option.

How your connectivity choice changes your commission tier

Most FCMs price connectivity and commission as a package, not separately. Choosing Rithmic or CQG over native routing can bump you into a different all-in rate — sometimes higher per-contract, sometimes lower once the platform fee is netted against tighter fills. Run each stack on a free simulated feed before wiring money; a broker offering the best futures broker for scalping NQ on paper should prove it on sim, not just on a rate card.

Broker-by-broker: seven CME routes compared

Same four questions for every name on this list: what does a round turn actually cost once every fee is stacked, what do you trade it on, what's the money you need to start, and who's it built for. We also flag whether the firm is the clearing FCM (futures commission merchant) or an introducing broker riding on someone else's balance sheet — because that's who actually holds your margin overnight.

AMP Futures

AMP is an introducing broker clearing through multiple FCMs (Ironbeam and StoneX among them, broker-dependent per account type), so your margin sits with whichever FCM they've routed you to — ask which one before you fund. All-in cost on an MES round turn runs roughly $1.00-$1.30 with a low-cost data/platform bundle; ES runs $3.80-$4.50 once CME exchange fees and NFA assessment land on top of commission. Connectivity covers CQG, Rithmic, and NinjaTrader, with account minimums as low as $500 for a self-funded micro account. AMP offers a free simulated account so you can test fills before risking anything. Best for: the cost-conscious micro trader who wants platform choice without a big minimum.

Optimus Futures

Also an introducing broker, clearing primarily through StoneX and Wedbush depending on account setup — same rule applies, confirm the clearing FCM before wiring funds. Optimus Futures pricing sits close to AMP's, MES landing near $1.10-$1.40 all-in, with a broader menu of third-party platforms (Sierra Chart, Multicharts, TradingView routing) bundled at extra cost. Minimums start around $500-$1,000 depending on platform. Free demo access is standard. Best for: traders who want a specific charting platform and are willing to shop the add-on fees to get it.

Tradovate

Tradovate is itself the introducing broker built on its own cloud platform, clearing through StoneX. It's the cleanest pricing model here — commission bundles exchange and NFA fees into one number, often $0.99-$1.29 per side on micros with no separate platform fee, since the software is native and free to use. No lifetime license needed because there's nothing to install. Minimums can go as low as $50 for a live micro account. Free paper trading is built into the same login. Best for: a Tradovate vs NinjaTrader vs AMP Futures comparison usually comes down to this: pick Tradovate if you want the lowest friction, browser-based setup with predictable all-in costs.

NinjaTrader

NinjaTrader is both a platform and, through NinjaTrader Brokerage (an introducing broker clearing via StoneX), a full route to CME. The platform itself is available on a NinjaTrader lifetime license for a one-time fee, which cuts monthly platform costs to zero long-term — a real edge if you're trading for years, not months. Commission-plus-fees on MES lands around $1.09-$1.49 all-in. Minimums start near $400 for a funded live account. Free simulated trading is unlimited and doesn't expire. Best for: the systems trader who wants to build and backtest automated strategies on one platform for the long haul.

TradeStation

TradeStation is a registered FCM in its own right — it clears its own futures business, no introducing-broker layer, which some traders prefer for directness. TradeStation futures commissions run higher than the discount-broker cluster, typically $1.50-$2.50 per side on micros all-in, reflecting the integrated platform, real-time data, and equities/options crossover. No minimum-deposit micro tier as aggressive as Tradovate's, with standard futures accounts often needing $2,000+. A free simulated account is available for platform testing. Best for: traders who also trade stocks and options and want one login, one statement, one FCM relationship.

Interactive Brokers (IBKR)

IBKR is a large, publicly traded FCM clearing its own trades — no introducing broker in the chain, which matters if you care about counterparty layers. Interactive Brokers futures commissions are transparent and tiered: roughly $0.85 per side on micros before exchange and regulatory fees, landing near $1.20-$1.50 all-in, competitive with the discount cluster despite IBKR's institutional reputation. Margin requirements track CME minimums closely with limited retail buffer, and account minimums for futures trading are effectively $0 though $2,000+ is realistic for margin headroom. IBKR offers a paper trading account, free and full-featured. Best for: traders who want an NFA-registered, exchange-listed FCM with no intermediary and don't mind a denser platform.

Cannon Trading

Cannon Trading is an introducing broker with decades in the futures space, clearing primarily through StoneX and offering white-glove desk support that discount platforms don't. Costs run higher accordingly — MES round turns often $2.00-$3.00 all-in — because you're paying for a human broker on the phone, not just software. Minimums sit around $5,000 for a standard account, higher than every name above. Simulated accounts are available on request through supported platforms. Best for: a trader who wants a dedicated broker relationship and phone-line execution support over the cheapest fill.

The hidden-fee checklist most comparisons skip

CME market data alone runs $10-$105 a month depending on your declared status, and once you stack a platform lease on top, that fixed overhead can exceed your entire commission bill if you're only running a handful of MES or MNQ contracts a month. Most broker comparison pages stop at "commission per side" and never mention the recurring charges that hit your statement whether you trade or not. Here's what actually shows up.

CME market data subscriptions and non-professional status

CME Group requires every account to declare data status: non-professional or professional. Non-professional status — for individuals trading their own capital, not employed in the industry — typically runs $10-$12/month per exchange bundle (CME, CBOT, NYMEX, COMEX often bundled or split depending on the broker). Professional status, required if you're registered with a regulator, work at a trading firm, or in some cases if you trade through certain LLC structures, jumps to $85-$105/month for the same data. The declaration form is usually buried in account setup, and brokers don't proactively flag it. Get it wrong — declare non-professional when you technically qualify as professional — and you risk a retroactive back-bill for the full professional rate across every month you were misclassified. If you're trading through a business entity or have any industry affiliation, ask your futures broker directly which status applies before you fund, not after your first invoice.

Platform licences: lease vs lifetime

Some platforms (Rithmic-based front ends, certain NinjaTrader tiers) charge a monthly lease of $20-$100+, while others (Tradovate, many broker-branded platforms) waive the fee entirely if you maintain minimum trade volume or keep a funded balance. NinjaTrader in particular sells a lifetime licence option that can offset the monthly lease if you're planning to trade for years — but it's a sunk cost if you switch brokers later since licence portability varies.

Routing surcharges and connection fees

Direct market access and premium routing (Rithmic, CQG feeds) sometimes carry a per-side surcharge of $0.05-$0.25, on top of your base commission. This is where the "$1.00 all-in MNQ" headline rate can quietly become $1.20-$1.30 once routing is added — ask specifically whether quoted rates include or exclude routing.

Inactivity, wire and statement fees

Inactivity fees (often $25-$50/quarter after 3-6 months with no trades), outgoing wire fees ($25-$40), and paper statement fees ($5-$15/month if you haven't opted into e-delivery) round out the list. None of these are dealbreakers individually, but stacked together they erode a low-volume trader's edge fast.

Before you fund anywhere, copy-paste this to support: "What's my monthly CME data fee at my declared status, is there a platform lease, what's the per-side routing charge, and do you charge inactivity or wire fees?" Get it in writing — verbal quotes from a sales rep don't show up on your statement, but the fees do.

FCM vs introducing broker: who actually holds your money

A Futures Commission Merchant (FCM) holds your margin in segregated customer funds and clears your trades directly on the exchange; an Introducing Broker (IB) brings you in, handles the relationship, and routes your account to an FCM — but never touches your capital. Know which one you're actually funding before you wire a dollar.

What an FCM does and what segregated funds mean

The FCM is the entity registered to accept customer orders for futures and options on futures, and it's legally required to keep your funds in a segregated customer account, separate from the firm's own operating capital. This is a CFTC requirement, not a marketing line — segregation is what protects your margin if the firm itself runs into trouble. Every trade you place eventually clears through an FCM's relationship with CME Group, even if the name on your login screen is someone else entirely.

What an introducing broker does

An IB solicits your business, sometimes builds the front-end platform experience, offers support, and may even set its own commission markup — but it doesn't hold your money and isn't the one filing the financial reports that keep an exchange member in good standing. Several names traders assume are FCMs in this comparison are actually IBs operating under a clearing arrangement with a much larger back-end firm. That's not a red flag by itself — plenty of well-run brokers operate this way — but it changes who you're trusting with custody. Check the account application or the fine print at the bottom of the platform's homepage for a line like "cleared through [FCM name], member NFA/CFTC."

Verifying registration on NFA BASIC in four steps

1. Go to NFA BASIC and search the exact legal name printed on your account statement, not just the trading brand.
2. Confirm the registration category — FCM, IB, CTA, or CPO — so you know exactly what role that entity plays in your fund flow.
3. Check disciplinary history and any pending actions; a clean record is table stakes, not a bonus feature.
4. If you're opening with an IB, look up its clearing FCM separately and review that firm's financial data filings — net capital, segregated funds balances — since that's whose balance sheet is actually backing your margin.

CFTC oversight and what it does not cover

The CFTC and NFA regulate registration, disclosure, segregation rules, and disciplinary enforcement for the best NFA registered futures broker candidates you're comparing — that's real protection against outright fraud or misuse of customer funds. What they don't cover: your commission rate, your fill quality, your platform's uptime, or whether a firm's data fees are competitive. Regulation tells you the money is handled properly. It says nothing about whether you're getting a good deal — that part's still on you.

Risk desk, auto-liquidation and what happens in a fast market

Most low-margin futures accounts run on pure automation — the system flattens you the moment equity breaches a threshold, and nobody calls first. That's not a flaw in the broker's software, it's the business model: at $50-$500 of day-trading margin per micro contract, the FCM can't absorb overnight risk on thousands of accounts without a hard, mechanical trigger. If you've never had a position auto-liquidated on a wick that reversed twenty minutes later, you've been lucky, not skilled.

Auto-liquidation thresholds and how they are triggered

An auto-liquidation futures account typically flattens when equity falls to somewhere between 90% and 100% of maintenance margin, depending on the broker and the platform's risk engine. Some firms give you a buffer — a warning at 120% and liquidation at 100% — others liquidate the instant maintenance is breached, no grace window. The trigger reads your account equity in real time against the exchange's maintenance margin for that product, and during a fast tape a wide bid-ask spread can push your marked equity through the floor even if the "real" price never traded there. That's the trap: the liquidation engine doesn't know the tick was a stop-run artifact. It just flattens.

Margin calls and the intraday cut-off collision

A margin call futures broker process usually runs on a schedule — end-of-day margin checks, overnight cut-off times, and a separate intraday monitor for accounts already close to the edge. The dangerous moment is when those two clocks collide: you're sitting on a deficit from the prior session, the market gaps at the open, and the intraday auto-liquidation trips before the margin call notification even lands in your inbox. By the time you see the alert, the position's gone. Brokers that batch overnight margin calls with a same-day cure window (wire the funds, keep the position) behave very differently under stress than ones that liquidate first and notify after — ask which model you're on before you're the one testing it live.

Support response during a volatility event

This is where the seven brokers split hardest. A couple run a live risk desk you can actually reach by phone during CME's regular trading hours — useful when you need to confirm a flatten-only mode is active before you try to add to a position and get rejected. Others are fully automated: chat bot, email ticket, no human voice option, which is fine until NFP prints and you need an answer in ninety seconds, not two hours. If you're weighing the best broker for futures trading with low margins and good execution, don't just compare commissions — ask each candidate: What's my exact liquidation threshold in dollars, not percentage? How am I notified — push, email, SMS, or nothing? What are the risk desk's live phone hours? And does flatten-only mode block new entries or just size-reducing exits? The answers separate a firm that protects you from one that just protects itself.

Funding a live futures account: honest pros and cons

Pros

• Unrestricted access to every CME product with no evaluation rules, daily loss limit or trailing drawdown imposed on top of your own risk plan
• Your capital, your position sizing, your withdrawal schedule — no profit split and no rule breach that ends the account
• Micro contracts (MES, MNQ, MGC) let you trade real size for genuinely small capital, with all-in round-turn costs near $1.00-$1.60
• Segregated customer funds at a registered FCM, verifiable on NFA BASIC, with CFTC and NFA oversight of the clearing entity

Cons / risks

• Every dollar of drawdown is your own, and intraday margin concessions can be pulled or hiked before CPI and FOMC without warning
• Fixed monthly costs — CME market data at $10-$105, platform licences, connection fees — hit low-volume accounts hardest
• Auto-liquidation can flatten you in a fast market with no phone call, on a position that would have recovered
• Scaling from MES to ES multiplies both risk and cost per round turn, and account size becomes the binding constraint long before skill does

Frequently Asked Questions