Best $500 margin broker???
- Thread starter PartyMarty
- Start date
http://www.elitetrader.com/br/?action=view&R_FirmID=169
I don't understand exactly what the "beef" is with Global Futures ?
Any specifics ?
AaronCapps
Global Futures
in Saico's defense, he can not be Issac or any other employee of Global Futures.
Saico has been a registered member of ET since before Global hired Issac or was an ET sponsor.
In regards to using NFA's Basic Search to research a broker. I encourage it, you will see that we have 1 cftc case in which a 3rd party company did not remove us from there website many many years ago. As well as 2 nfa cases where clients complained about us liquidating thier positions because they violated margins. Both nfa cases were dismissed.
I encourage you to review the nfa history on any firm, as well as review the cftc financial records of any FCM as well.
Thank you Saico for your kind comments i apologize it brought out such ugly responses.
In regards to Martin, our Night Desk, Martin is one of the nicest most patient people on the planet. And when he isn't swamped with calls from clients checking positions or asking questions about the equity, he will be happy to talk to anyone. If you want, call my nightdesk and talk with casey or martin and then tell me i am wrong.
Saico has been a registered member of ET since before Global hired Issac or was an ET sponsor.
In regards to using NFA's Basic Search to research a broker. I encourage it, you will see that we have 1 cftc case in which a 3rd party company did not remove us from there website many many years ago. As well as 2 nfa cases where clients complained about us liquidating thier positions because they violated margins. Both nfa cases were dismissed.
I encourage you to review the nfa history on any firm, as well as review the cftc financial records of any FCM as well.
Thank you Saico for your kind comments i apologize it brought out such ugly responses.
In regards to Martin, our Night Desk, Martin is one of the nicest most patient people on the planet. And when he isn't swamped with calls from clients checking positions or asking questions about the equity, he will be happy to talk to anyone. If you want, call my nightdesk and talk with casey or martin and then tell me i am wrong.
AaronCapps, that was a very STUPID comment you just made.
Just because somebody was a member of of this Elite trader forum BEFORE they were hired as a broker does not mean that they can't be that person who is posting comments on elite trader. OF COURSE THEY CAN.
LOTS of people have been members of this forum and they have been posting for years before they were hired at their jobs as brokers or any job.
Aaron if you handle your clients accounts with the same common sense as your last post, then that is reason enough that people should NOT sign up with "global futures" and NOT trust Global futures with their money. Global Futures have unqualified brokers. Aaron Capps last post proved it.
The Brokers at global futures will gang up on you and stick up for each other as soon as there is a problem with your account, the same way Aaron Capps a broker with Global futures just did in his last post on this public forum.
You do not want a company where the brokers gang up on the customer when a customer has a problem with one of them the way Aaron Capps(global futures broker) just did. Especially when your money is involved. Can you imagine if Global futures brokers all ganged up on the customer and refused to give you back your money. You would have to hire an attorney, go to the NFA, CFTC, and every other govt. agency just to get your money back. In the mean time all the global futures brokers like Aaron Capps will be sticking up for each other, ganging up on you and lying about you, the same way Aaron Capp did with his last post. He even did did it publicly so EVERYBODY can see that global futures will go against you if you have a problem with your account.
Another words, Aaron Caap of global futures is publicly saying on this forum that he could care less about the customer.
Apparently Aaron Capp who is a global futures broker has never heard of the phrase, (The customer is always right).
this needs to be addressed--- I checked the NFA site and don't see any complaints, just basic reg stuff. Can you be more specific or are you just an angry losing trader?
surf
ps. i have used global on and off for several years--- excellent firm, never any issues.
marketsurfer, nice try but I count over 130 complaints on the NFA website. http://www.nfa.futures.org/basicnet/SearchResults.aspx?type=firm&firm=GLOBAL+FUTURES
Anybody can check it out for themselves.
http://www.nfa.futures.org/basicnet/SearchResults.aspx?type=firm&firm=GLOBAL+FUTURES
There are two pages of complaints on global futures. The last one on the first page has over 80 complaints alone. marketsurfer, It's not hard to do a search no the NFA website and add up all the complaints. If you can't find the complaints after checking the NFA website then you are the type of customer that global futures wants. Stupid customers that don't know how to do a simple internet search. They are all there. Those are all complaints with fines and arbitration award payed to the customer.
http://www.nfa.futures.org/basicnet/SearchResults.aspx?type=firm&firm=GLOBAL+FUTURES
Here is the first page where anybody can do a search by "broker name", "firm name", etc...
http://www.nfa.futures.org/basicnet/
what on earth are you talking about? are you making this stuff up? here's the listing for the referenced company:
http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0289721&rn=Y
obviously, you are mistaken and don't know how to read the NFA site. I guess I have to spell it out for you-----there are many funds, brokers, pools named Global--- the one with the multiple complaints is a different company.
you owe these guys an apology.
surf
marketsurfer, WRONG!!! You are a very dishonest person. Anybody can look up Global futures themselves and see that they have over 130 complaints filed against them with the NFA. It is all written down here. It is public record. http://www.nfa.futures.org/basicnet/SearchResults.aspx?type=firm&firm=GLOBAL+FUTURES
It wouldn't surprise me if marketsurfer is also one of global futures dishonest brokers. He is a very dishonest person. Here is the real NFA global futures complaints which shows well over 130 complaints. Each one of these says "global futures". It is written out very clearly after clicking on each one of them. The last one on the first page has over 80 comlaints alone. And there are two pages of complaints.
Thanks for the links. I recently became a Global Futures customer about a few weeks ago and wish I had those links around when I was searching for a broker. But I was a bit more relieved after looking through search results on the NFA website.
Basically if you click on each of the 19 search results on the NFA website with "Global Futures" as the company name and look at the business address you'll find that only one of them has a company address listing that matches the one that is on the globalfutures.com address, which is the one that marketsurfer linked to. The rest of the other 18 search results link to other companies with different addresses and principal owners. Plus the others have different NFA IDs. I doubt the NFA would assign multiple NFA IDs to the same company. So it looks like the Global Futures one in question has the NFA ID of 0289721, plus when you click on the details for only one of them it lists "GLOBAL FUTURES EXCHANGE & TRADING CO INC" as the full company name -- this matches the letterhead that I received when I signed up furthermore proving that not all of the listings are for the same company.
Lastly, I'm not a broker disguised as someone else and have no affilliation with Global Futures besides being someone that just became a recent customer. I've talked to several ppl over the phone for support and haven't really had any problems. They've all been nice and courteous. The only time I had a small problem and the guy said he had to put me on hold to get a tech support but then said support was busy and they'd call back but I never got a call back, however the app did later work and I realized later it was my fault. I was trying to run Strategy Runner during a time when the exchanges and/or SR were closed in the 3:15 to 5:30 period and didn't realize it. I'm a newbie futures trader and so didn't know that at the time.
The only real negative thing with Global Futures which isn't really their fault but the fault of the clearing house they use is RCG (ROSENTHAL COLLINS GROUP) to view your account information. RCG has the most butt ugly interface you've ever seen. The color scheme clashes with each other and provides difficult to read contrast. It looks like the app was written in the 1980s or something. I almost feel like switching brokers to one that has a different clearing house just because the RCG interface sucks so much. They have another one though called GHCO -- I don't know if they're any better.
On a more positive note, they do have good $500 margin terms in regards to when it's applicable. With other brokerage firms like IB etc. the $500 margin only applies during certain daytrading hours like 8:30 to 3:15 or something like that -- it depends on the brokerage firm. With Global Futures they only require the full overnight margin if you hold the position through the close of the trading day (ie. at 3:15), so you can be day trading at night (I guess that would be called night trading?
and the $500 would still apply which is nice IMO.
Basically if you click on each of the 19 search results on the NFA website with "Global Futures" as the company name and look at the business address you'll find that only one of them has a company address listing that matches the one that is on the globalfutures.com address, which is the one that marketsurfer linked to. The rest of the other 18 search results link to other companies with different addresses and principal owners. Plus the others have different NFA IDs. I doubt the NFA would assign multiple NFA IDs to the same company. So it looks like the Global Futures one in question has the NFA ID of 0289721, plus when you click on the details for only one of them it lists "GLOBAL FUTURES EXCHANGE & TRADING CO INC" as the full company name -- this matches the letterhead that I received when I signed up furthermore proving that not all of the listings are for the same company.
Lastly, I'm not a broker disguised as someone else and have no affilliation with Global Futures besides being someone that just became a recent customer. I've talked to several ppl over the phone for support and haven't really had any problems. They've all been nice and courteous. The only time I had a small problem and the guy said he had to put me on hold to get a tech support but then said support was busy and they'd call back but I never got a call back, however the app did later work and I realized later it was my fault. I was trying to run Strategy Runner during a time when the exchanges and/or SR were closed in the 3:15 to 5:30 period and didn't realize it. I'm a newbie futures trader and so didn't know that at the time.
The only real negative thing with Global Futures which isn't really their fault but the fault of the clearing house they use is RCG (ROSENTHAL COLLINS GROUP) to view your account information. RCG has the most butt ugly interface you've ever seen. The color scheme clashes with each other and provides difficult to read contrast. It looks like the app was written in the 1980s or something. I almost feel like switching brokers to one that has a different clearing house just because the RCG interface sucks so much. They have another one though called GHCO -- I don't know if they're any better.
On a more positive note, they do have good $500 margin terms in regards to when it's applicable. With other brokerage firms like IB etc. the $500 margin only applies during certain daytrading hours like 8:30 to 3:15 or something like that -- it depends on the brokerage firm. With Global Futures they only require the full overnight margin if you hold the position through the close of the trading day (ie. at 3:15), so you can be day trading at night (I guess that would be called night trading?
and the $500 would still apply which is nice IMO.