1) If you login with Rithmic User ID (Any Platform) - you will be charged $20 per month min.
- Change > If you login and do NOT trade, you will now be charged min. $20 per month
2) No Longer multiple $20 Monthly Login Fees if you login Multi-Trading Platforms with your single Rithmic User ID.
- Change > If you use multiple trading platforms, you will NO longer be charged the $20 per platform fee. Now only one $20 min. monthly
Further Detailed Explanation with examples:
If you login to R | Trader or R | Trader Pro or any 3rd party trading platform connected to Rithmic Data-feed, there will be a minimum per User ID monthly fee of $20. This is $20 per month minimum - per Rithmic User ID. ANY TRADING PLATFORM using Rithmic Data-feed and/or Trade Routing.
Monthly Baseline > $20 per month minimum per user ID or 80 Contracts / 40 Round Turns traded per month.
Rithmic Per Trade Fee is still $0.25 per contract traded. If you trade, less than 80 contracts / 40 round turns per month > you will be charged the difference up to $20.
The main difference between last year’s 2018 pricing and pricing is that the $20 usage fee for logging in through R | Trader Pro and through each third party app that incorporates R | API+ is removed and replaced by a minimum User Id fee of $20.00 (regardless of trading platform used).
If in December 2018 a User Id logged in through multiple trading platforms - R | Trader Pro, MultiCharts and through SierraChart, the usage fee for that User Id was $60.00. If that User Id placed orders for 20 contracts through SierraChart and all were filled, his transaction fee would have been $5.00. Trader's total fee for December 2018 would have been $65.00.
Starting on Jan 01, 2019, that usage fee is removed and replaced by a one (1) minimum monthly fee per User Id of $20.00. If that User Id places orders for 20 contracts through SierraChart and all are filled, transaction fee will be $5.00. However, because transaction fee is less than the $20.00 monthly minimum, Trader's total fee becomes $20.00.
For such users, the savings ($65.00 .vs $20.00) is substantial.
For users whose transaction fees exceed $20.00, if they login as in the example above, the savings is quite noticeable ($20.00 multiplied by the number of apps that had a usage fee). Compared to last year, this pricing schedule rewards active traders.
Live - Paper Trading Users
if someone is a non trial paper trading user and a live user, trader will NOT be charged 2 minimum fees. Trader's paper trading user id must be linked to his live user id (his live user id must be listed in the associated user field of the paper trading user id) > AMP does setup Live Paper Trader users for our customers in this needed way to avoid the double $20 per month minimum per User ID fee.
It is our understanding, even if you login only once, whether you place any trades or not, this will trigger this $20 minimum monthly fee…so if you do not accept this fee (PLEASE DO NOT LOGIN) any platform with the Rithmic data connection.