Futures Brokerage - does it matter where?

[ofthomas]

Quote from obamapips:

What about Transact Futures, I dont see it in the list ?
If Transact Futures not in the list, does it means Transact is a small firm ?

TRANSACT FUTURES is a Division of YORK BUSINESS ASSOCIATES, L.L.C.

nothing against them... but you should do some due diligence...

http://www.cftc.gov/ucm/groups/publ.../legalpleading/enfyorkbusinessorder092112.pdf

http://www.nfa.futures.org/basicnet/Details.aspx?entityid=wTvvkRwukXc=&rn=Y

http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=QlzRORlqiRA=

they are NFA supervised, and not an exchange member...

 

[obamapips]

Quote from ofthomas:

TRANSACT FUTURES is a Division of YORK BUSINESS ASSOCIATES, L.L.C.

nothing against them... but you should do some due diligence...

http://www.cftc.gov/ucm/groups/publ.../legalpleading/enfyorkbusinessorder092112.pdf

http://www.nfa.futures.org/basicnet/Details.aspx?entityid=wTvvkRwukXc=&rn=Y

http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=QlzRORlqiRA=

they are NFA supervised, and not an exchange member...

Thanks for the info, can you recommend me a futures broker which allow "Friends & Family" account like IB ....

 

[mm19]

Quote from Chicago_CTA:

However, I would recommend you go with a CLEARING FCM rather than a NON-CLEARING FCM.

would you mind to elaborate why clearing FCM is better ?

Thanks

 

[Vortexed]

Quote from ofthomas:

DB = DEUTSCHE BANK?

as for financials on FCM's... this is a good link...

http://www.cftc.gov/MarketReports/FinancialDataforFCMs/ssLINK/fcmdata1012

Thanks a lot for this. Yes, DB = Deutsche Bank. You see they also offer a multi-manager platform we are keen to get on eventually (DB Select) but I want to know if they offer straight-forward managed accounts, and if so, what minimum size.

I am aware that the Big Banks do not always offer the best, in many cases, big is not always best, thank goodness.

Thanks for the all the good inputs here, we are noobs in this particular area, even though we have been around for a while.

 

[ofthomas]

Quote from obamapips:

Thanks for the info, can you recommend me a futures broker which allow "Friends & Family" account like IB ....

friends and family is nothing more than having rights to execute trades on an account other than your own (entity or individual)... even fidelity allows that... so you need to be more specific as to your requirements... the one thing that F&F with IB allows is for someone to "manage" a small number of accounts without being registered as well... so depends on what you are after.

in any event, my choices as I stated before are simple and based on my own due diligence... everyone should do their own...

I prefer, in order... Crossland, FCStone(introduced via Shepard International), and IB.... I spread my funds across them, with majority with IB given they are a BD and have greater insurance as well...

 

[ofthomas]

Quote from mm19:

would you mind to elaborate why clearing FCM is better ?

Thanks

greater transparency... Clearing FCM's are exchange members and under a bigger microscope... for additional details, review the following:

http://www.cmegroup.com/clearing/
http://www.cmegroup.com/clearing/cme-clearing-overview/clearing-membership.html
http://www.cmeclearingeurope.com/clearing/index.html

and before people bring in the MFG issue, nothing will prevent against an MFG (other than your own personal risk management and keeping at the FCM only what you need to trade) ... what I seek to prevent is outright fraud like the one with PFG (which was the largest non-clearing FCM, and you should have figured out why by now)...

all the firms with which I do business are exchange members... period.... I dont care so much who introduced me, but rather who has custody of my funds and what pct they keep with CME as perf bond...

 

[ofthomas]

Quote from Etienne Botes:

Thanks a lot for this. Yes, DB = Deutsche Bank. You see they also offer a multi-manager platform we are keen to get on eventually (DB Select) but I want to know if they offer straight-forward managed accounts, and if so, what minimum size.

I am aware that the Big Banks do not always offer the best, in many cases, big is not always best, thank goodness.

Thanks for the all the good inputs here, we are noobs in this particular area, even though we have been around for a while.

I've never dealt with that side of the business, sorry... all I can say is that being accepted into the advisory programs(MAP) is based on AUM, track record, etc... you would need to call their sales desk for details... but if I was you, I would look to whomever you are doing your FX volume with today and understand what they have better... if what you are after long terms is capital introduction then your bets are with DB, MS and Citi for the most part...

 

[obamapips]

Quote from ofthomas:

friends and family is nothing more than having rights to execute trades on an account other than your own (entity or individual)... even fidelity allows that... so you need to be more specific as to your requirements... the one thing that F&F with IB allows is for someone to "manage" a small number of accounts without being registered as well... so depends on what you are after.

in any event, my choices as I stated before are simple and based on my own due diligence... everyone should do their own...

I prefer, in order... Crossland, FCStone(introduced via Shepard International), and IB.... I spread my funds across them, with majority with IB given they are a BD and have greater insurance as well...

Thanks for the advice.

 

[ibrainch]

My quick take is that IB is great for retail clients interested a number of different products, Advantage Futures is best for professional traders or proprietary trading firms interested in trading futures (especially with those with high frequency/low latency strategies) and NewEdge is probably best for larger institutional clients. All seem to be pretty well capitalized based on the previous link.