WikiFX

Reply

In my direct experience reviewing and evaluating futures brokers, fees are one of the most critical elements I look for—especially when considering ECN or raw spread-type accounts. With Sierra Futures, the reality is quite clear: they operate on a commission-based model rather than offering raw spread or ECN-style accounts typical in the spot forex industry. For every futures contract I traded, the broker charged a fixed commission per side, which differs depending on the specific product. For example, trading the Micro E-Mini S&P 500 would cost me $0.275 per side, while other contracts like the E-Mini NASDAQ or Euro FX were set at $0.55 per side. For me, this commission structure means I'm able to estimate costs reasonably well, though I do have to keep in mind that there’s some variability depending on the market chosen. Importantly, even though Sierra Futures provides a competitive platform and a selection of futures products, the lack of clear regulatory oversight and its “Suspicious Clone” status on public registers remains a substantial concern for my capital safety. Ultimately, every trade I made incurred a direct fee per lot (or contract) traded, rather than relying solely on spread markups. I would advise all traders—especially those new to futures or cautious with counterparty risk—to weigh the absence of meaningful regulation very heavily before opening an account or assuming this fee model offers any special advantage.