What are the taxes consequences for profit/loss in trading futures?

[mervyn]

The commission are netted in P&L, other data fees, wire fees are not deductible but I guess you can subtract it under your schedule c, if any.

Technically yes for trading under retirement accounts, but it depends on your broker. Futures drawdown is significant, the broker may feel it is too risky for retirement products. Since retirement account has contribution limits per year, it is a bad idea unless you are a pro.

 

[Robert Morse]

Variable fees like commission, regulatory, exchange clearing etc are all part of the net P/L. Software and market data are not.

Also can you deduct any fees such as your broker commission fees?

 

[Robert Morse]

We only offer futures accounts when you use an IRA custodian like Midland Trust. https://www.midlandtrust.com/ I have two accounts with Midland. I have used them to open a futures account with us and make investments in hedge funds with my Roth IRA and IRA. When the account is open through them, you can trade your futures account like any other with the same SPAN margin rates. Most online brokers that are custodians for a futures IRA account, charge much higher margin and have restrictions.

Lightspeed Financial Services Group LLC. is not affiliated with this service providers. Data, information, and material (“content”) is provided for informational purposes only. This content neither is, nor should be construed as an offer, solicitation, or recommendation to buy or sell any securities. Any investment decisions made by the user through the use of such content is solely based on the user’s independent analysis taking into consideration your financial circumstances, investment objectives, and risk tolerance. Lightspeed Financial Services Group LLC does not endorse, offer nor recommend any of the services provided and any service used to execute any trading strategies are solely based on the independent analysis of the user.

can you trade emini or micro emini on your regular ira or Roth IRA account? If yes, I’m assuming you can’t deduct loss or pay any taxes on your gains similarly if you are buy or sell stocks in your regular or Roth ira account?

 

[vincentnyc]

We only offer futures accounts when you use an IRA custodian like Midland Trust. https://www.midlandtrust.com/ I have two accounts with Midland. I have used them to open a futures account with us and make investments in hedge funds with my Roth IRA and IRA. When the account is open through them, you can trade your futures account like any other with the same SPAN margin rates. Most online brokers that are custodians for a futures IRA account, charge much higher margin and have restrictions.

Lightspeed Financial Services Group LLC. is not affiliated with this service providers. Data, information, and material (“content”) is provided for informational purposes only. This content neither is, nor should be construed as an offer, solicitation, or recommendation to buy or sell any securities. Any investment decisions made by the user through the use of such content is solely based on the user’s independent analysis taking into consideration your financial circumstances, investment objectives, and risk tolerance. Lightspeed Financial Services Group LLC does not endorse, offer nor recommend any of the services provided and any service used to execute any trading strategies are solely based on the independent analysis of the user.

do you guys also offer service where you can mirror or automate your trade based on someone that has a track record? i got offer a service like this from a futes broker. they have a website and has competition for futes trading. I'm not gonna name it here. but an elite member has won the contest, Larry Williams. now they offer a service where i can subscribe to their successful member and whatever trade they take, i also take. they have verified record of their profit and loss for each of their members. what do you think of that service? is a a scam or the real deal?

 

[Robert Morse]

We do not have that service. If he is a CTA with a block account, there are ways to do that and GIVE up the trades after, but we have no program to copy traders from one trader to another. Most of our clients for futures use either CQG Desktop/QTrader or Realtick, but we also offer Rithmic and TT.

do you guys also offer service where you can mirror or automate your trade based on someone that has a track record? i got offer a service like this from a futes broker. they have a website and has competition for futes trading. I'm not gonna name it here. but an elite member has won the contest, Larry Williams. now they offer a service where i can subscribe to their successful member and whatever trade they take, i also take. they have verified record of their profit and loss for each of their members. what do you think of that service? is a a scam or the real deal?

 

[vincentnyc]

We do not have that service. If he is a CTA with a block account, there are ways to do that and GIVE up the trades after, but we have no program to copy traders from one trader to another. Most of our clients for futures use either CQG Desktop/QTrader or Realtick, but we also offer Rithmic and TT.

no problem. what is your commission fee per transaction for emini or micro emini?