I've been with Interactive Brokers for a long time now. Many of you will know that they recently introduced a concentration margin, which puts a 30% margin for the largest group of CFD positions (they group them based on similarity). I trade a CFD as a spread with a S&P emini future, and so require good leverage to get meaningful risk. The new margin requirement has made my trading strategy non-viable on IB. So I am now looking for a new broker.
I have looked at RJ O'Brien but am concerned about their customer funds segregation (they were fined a few years ago back by CFTC), and also their online platforms are quite expensive.
Berkeley Futures look good, but their financing rate for CFDs is high (3% +/- benchmark) and since I trade only a few times a month they'd charge me $7.50 for futures. Very expensive.
Any suggestions would be appreciated. I am based in the UK (if that matters).
I have looked at RJ O'Brien but am concerned about their customer funds segregation (they were fined a few years ago back by CFTC), and also their online platforms are quite expensive.
Berkeley Futures look good, but their financing rate for CFDs is high (3% +/- benchmark) and since I trade only a few times a month they'd charge me $7.50 for futures. Very expensive.
Any suggestions would be appreciated. I am based in the UK (if that matters).
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