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I just checked, Futures are not covered by SIPC or any other protection because it is not necessary. Unlike margin accounts with equities, all futures accounts in the US are segregated accounts, in the customers names. The futures brokers assets and other customer assets are all held separate.

Agreed. It is a business decision every trader makes. Sometimes we don't have a choice if we want to play. If you want an account at GSEC, the min. is $5MM, and they don't even want those accounts. Plus, their execution fees through RediPlus are a premium to other platforms. Penson is very...

That sounds correct. I can't speak for Penson, I only read what everyone else is reading. Their capital account looks secure currently. The value of the stock to an investor and the cash available for regulatory purposes not are connected. I think if a lot of customers examined closely the...

That's an excellent question. I will find out if SIPC or any other entity protects the assets in a futures account. Bob

So, for transparency, I tell everyone who I am, what my background is, and what I do. For transparency as you would say, why don't you: Give your real name. What your experience is, and what you trade. How much you pay when you trade. Where you trade. What your volumes were last...

Penson has Excess SIPC Coverage. I attached the details. You don't have to be concerned if you're in a customer account. For Broker Dealer accounts, you're never protected by SIPC.

We have API access through Sterling Pro and Obsidian. Clearance through ML Pro and Penson. Rates are set based on AUM, Asset classes traded and expected monthly volumes. My rate sheet for assets over $250K are lower than the above. I sent you a PM with this info also. Anyone interested, send...

These "customers" of Lek or Penson or ML Pro, that say they are offered these great rates for going direct, without a BD, I'd like to see one of them post one page of activity on the forum that shows they are able to get that rate, 5 mils or less, for a DMA route including execution and...

Try back testing buying ATM butterfly's. As vol comes in, value will go up. I like to look out around 6 weeks. Very little real gamma. Until last week, then look to roll out, gamma increases near exp.

My trading strategy has always been simple. As long as I'm within my risk tolerance, I reevaluate every position in an on going fashion. I Ignore my cost of a position, and say to myself, if I had no position, would I put this on now? If the answer is no, then I get out. If I'm not sure, I cut...

With most equity options, unless there are take over rumors, I've found buying a 1x 2 call spread, when your moderately bullish, but think vol is high, works well. As the stock moves up, the otm call tends to shrink in vol faster than the atm. You'll have to be comfortable with the upside risk...

Customer accounts are an option if you can open a customer portfolio margin account. You do need more money, but haircut is 6.67 to 1, with a segregated account that is all yours with no broker dealer issues. Also, for option traders, floor execution fees are much lower or zero.

Did you get my e-mail about third party locates? This is the best way to get it.

Yes, that would be your loss. You can continue to loose money until the index reaches zero, or at expiration, when the future expires and your position turns into current cash value. If you lose more than what is in the account, the entity that owns the account will be responsible for all...

We are not a prop firm, so we don't back traders. However, if you have the assets for a Customer Portfolio Margin account, and you don't like sterling Pro, I can offer you another platform that meets your trading style, with good rates, in a segregated customer account. So, it would be your...

Have you considered not joining a Prop/JBO firm and opening your own customer account and trading for yourself? The big hurdle is capital. To trade with leverage in a customer account, you need the funds or open a portfolio margin account.

Many online brokers send out an e-mail for a margin call. If you don't react by a certain time, they auto liquidate.

I guess the average ticket size is more important that the total volume. If your trading 4K contracts a month in 10 lots, the ticket fee makes your rate around $1.00/option. If your average order size is 100 contracts, your rate is now .235/contact. I hope I'm doing the math correctly...

Very nice rate. They will charge you .15/contract, no minimum and no ticket charges? I'm guessing they choose the route. You're most likely benefiting from them receiving Payment for order flow, PFOF. They get another $0.25 to $0.55 from the market maker that receives the order at the exchange.

Their rate on their website is $1/contract or a ticket charge of $8.50/ trade plus .15/contract. For you, what makes a broker the "best." Is the cheapest price the best?