Quote from jeb9999:
$500 margin for ES? What do you plan on doing when the ES makes one of those quick sudden moves past your stop loss and eats up your $500 and a few dollars more?
If you have found brokers that charge $3 RT all in for ES you are not reading their commission schedule properly.
Please note: IB is not the ES broker for you.
Why do all you IB, anti-day trading margin guys always denigrate someone who wants to take advantage of these margins that other brokers offer? And why the assumption that they would use the FULL margining power of their account to trade as such? After all, day trader or not, at the end of the day the account has to be either flat or fully margined.
IB is a good broker for alot of things (I use them primarily for spot and futures currency trading) but for guys who scalp these fast markets day trading margins offer far more opportunities than IB does especially when IB can't make up their minds whether to offer 1/2 margin day trading or full margining.
That being said, I recently opened an account with Mirus w/RCG as the clearing firm and I am very happy with them. A +1 to those who already said so.