Please note: Questions specific to a CMEG account (pricing, account requirements, status of your account, etc.) should be directed to CMEG's support team, and not to Warrior Trading. This resource is merely to help outline what to expect when opening a brokerage account, and to more easily direct you towards appropriate resources on CMEG's website.
If you're looking to open a similar account to what Ross Cameron used at CMEG (Capital Markets Elite Group) during his December 2019 Small Account Challenge, you'll want to look at CMEG's Active Account via Traders Elite Pro, powered by Sterling. A subscription to the platform and subscription to market data would both be required, as well as payment to open and fund the account. For most up-to-date and accurate information, you should refer to CMEG's website and resources. In the meantime, here is a general outline of charges to expect as well as additional fees to be aware of.
Fees for the Sterling platform "Traders Elite Pro":
See pricing and more information on this web page from CMEG, under "Traders Elite Pro": https://www.cmelitegroup.com/view-all-trading-platforms/
Market data fees:
See this webpage on CMEG's site for fees: https://www.cmelitegroup.com/market-data-sterling/
See this page on our site to see what Ross subscribes to (about $30/month): https://support.warriortrading.com/en/support/solutions/articles/19000110555-what-market-data-should-i-use-for-trading-
- Check out our CMEG Broker Rebate Program page here: https://www.warriortrading.com/cmeg-broker-rebate-program/
- If you're a Warrior Pro student (or preparing to become one) and are concerned about a time limit for taking advantage of Warrior Trading's Broker Rebate Program, please note that CMEG will honor the rebate for Pro students within 1 year after Warrior Pro purchase -- so you do not need to fund your CMEG account right away, and we advise against doing so. Here is an article we wrote on the importance of not opening a live trading account right away: https://www.warriortrading.com/live-trading-account/
You can see CMEG's additional account fees on their website. Ross' account was an "Active Account": https://www.cmelitegroup.com/account-fees/
There are some fees that some traders incur less often than others, such as fees for wiring funds. To minimize the impact of wiring fees, traders will want to make sure that their account is funded sufficiently at the start, and of course they will want to avoid having to re-fund the account should it fall below the minimum requirement of $500 or their preferred account balance. To help avoid margin call and/or needing to re-wire funds as often, traders can fund their accounts above the bare minimum amount of $500. You can learn more about how much money you need to day trade here: https://www.warriortrading.com/how-much-money-do-you-need-to-day-trade/
With any brokerage account, it is also important to be aware of fees such as the margin call fee and inactivity fees, which will only apply to a brokerage account in certain circumstances. Practicing your trading strategy in a simulator and learning proper risk management before opening the live account can help you avoid some of these fees.
We teach our students how to create a trading plan with proper risk management, track their progress with a trading journal, and improve their Profit Trifecta through our courses. Ross would not trade a strategy without a proven track record and metrics behind them before going live. Maintaining his account and profits is his first priority, and using a simulator first is one of the best ways to minimize risk. Keep this in mind when looking to fund a brokerage account for the first time.
We provide a real-time trading simulator, the WT Sim, as part of our trading education programs so that our students do not need to open any additional accounts while they are learning to trade. The WT Sim is a Sterling-based platform, so it can be particularly helpful for traders who wish to also choose a Sterling platform for their live account.
Remember: the best way to save yourself money in a live account is to learn how to trade effectively!
Still have questions? Please reach out to our Support Team, and we'd be happy to help.