Futures brokers NOT allowed personal accounts??

[SuperVolatility]

As a futures broker working for XYZ can I have a personal futures trading account? I heard if you are a futures broker you are not allowed to maintain a futures account.

 

[el pollo]

Quote from SuperVolatility:

As a futures broker working for XYZ can I have a personal futures trading account? I heard if you are a futures broker you are not allowed to maintain a futures account.

Who told you that?

That is not true, you have to provide statements to your superviser, and obviously can't blatantly run ahead of customers!

It is possible certain firms have a "holding period" policy and no day trading.

 

[dandxg]

Quote from SuperVolatility:

As a futures broker working for XYZ can I have a personal futures trading account? I heard if you are a futures broker you are not allowed to maintain a futures account.

I know that when opening an account you have to disclose it, but I don't think you are barred in any way.

 

[Don't Pass Bet]

Floor brokers are not allowed to trade personal accounts as well as customer accounts. That is probably what you are thinking of.

 

[el pollo]

Quote from Don't Pass Bet:

Floor brokers are not allowed to trade personal accounts as well as customer accounts. That is probably what you are thinking of.

I have firsthand info from both the NYMEX and ICE that contradicts what you posted. As long as you are not holding paper, you can trade your own account, how do you think locals earn a living, duh.

Please don't guess.

 

[SuperVolatility]

I was referring to non floor futures brokers..such as Interactive Brokers, Ninja etc.

 

[Don't Pass Bet]

Quote from el pollo:

I have firsthand info from both the NYMEX and ICE that contradicts what you posted. As long as you are not holding paper, you can trade your own account, how do you think locals earn a living, duh.

Please don't guess.

From the CME Website.

B552.B. Prohibition
Dual trading shall be prohibited in any contract month which is deemed a mature liquid contract by management subject to the exceptions in Section C. below.

 

[NetTecture]

That is basically because it is CME regulation - not something general. And even there, a floor broker can do futures trading through a normal retail outlet (i.e. not handle the trades himself).

 

[el pollo]

Quote from SuperVolatility:

I was referring to non floor futures brokers..such as Interactive Brokers, Ninja etc.

Ninja is a broker now?

Bottom line is there are rules for both FLOOR BROKERS and BROKERS UPSTAIRS about trading their own accounts, but they are not barred from trading.

I am sorry I ever responded to yet another retardo thread.

 

[SuperVolatility]

Quote from el pollo:

Ninja is a broker now?

Bottom line is there are rules for both FLOOR BROKERS and BROKERS UPSTAIRS about trading their own accounts, but they are not barred from trading.

I am sorry I ever responded to yet another retardo thread.

You got me, I meant to say Infinity brokerage, not Ninja or Mirous.