Robert Morse
Sponsor
Not sure if a single member LLC can meet the exemption. Maybe.
IB vs Tradestation
- Thread starter adamchubb
- Start date
You asked, so without gettng chastised here, stay with IB. Based on previous experiences with TS, I would not recommend them for intraday trading.
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Robert Morse
Sponsor
I can ask, but in my experiance with exchanges and their MD fees, there is often never a definitive answer that can't change. Even CME Direct that is currently free including MD, will start charging only Pro-MD in Q2,
The exchanges consider you a professional. Take advantage of the Trader Tax Status. That will more than cover your exchange fees. Also you can write off a ton of expenses, like exchange fees, data feeds, software subscriptions.
Robert Morse
Sponsor
Rickshaw Man,
The question was about VX futures. All Futures are 1256 contracts and MTM at year end with no wash sale rule. I'm not aware of any advantage or use for TTS with futures. I expect that is just for stocks and options. The S Corp or any LLC covers the expense side.
Bob
This is meaningful information.
Robert Morse
Sponsor
I checked with Wedbush and the CME. Based on what you have provided me, and the sheet I posted, I expect you can get the non-pro excemption. Small company, one owner, one account, not a CTA etc.
Bob
I've been with TradeStation since forever trading futures (as a "non-Professional") but not VIX so can't say how that would be treated. Every broker/platform has its pluses and minuses but I would think they would have to treat pro/non-pro status based on SEC/CFTC requirements. Otherwise find another is the right course.