Why cant I open a futures account ? WTF ?
- Thread starter neveral0ne
- Start date
financialmarket
Guest
only thing that futures have over stock is the LEVERAGE but the leverage is double edge sword.
These brokers know the stats on new traders trading futures...stocks is way easier than futures.
unless you have paper test and disciplined about your futures trading..don't bother with futures until you do. you make fast money with futures, but you can lose fast on futures...it's a zeros sume game with futures.
futures have a high risk of total account wiped out just from the brokerage statistics of new accounts so they don't want anyone in the street or in debt with loan sharks if they blow up their account.
another thing is new financial regulation on leverage and futures like tax,,,if that goes through,,futures isn't feasible anymore
These brokers know the stats on new traders trading futures...stocks is way easier than futures.
unless you have paper test and disciplined about your futures trading..don't bother with futures until you do. you make fast money with futures, but you can lose fast on futures...it's a zeros sume game with futures.
futures have a high risk of total account wiped out just from the brokerage statistics of new accounts so they don't want anyone in the street or in debt with loan sharks if they blow up their account.
another thing is new financial regulation on leverage and futures like tax,,,if that goes through,,futures isn't feasible anymore
Maybe being turned down on that credit card application resulted in a negative on your credit rating?
Maybe you could opened a stock trading account with a broker that offers a universal account and add futures trading to your account after trading stocks for a few weeks? MB Trading and Interactive Brokers are two brokers with universal accounts.
financialmarket
Guest
the financial regulators do care and that is why his account application denied...the compliance dept won't approve the account.
if he lies in his application about his income or net worth, than the broker isn't liable have problems with regulators.
also, your broker has your trader profile on file. and know exactly how much profit or loss you have with them
if he lies in his application about his income or net worth, than the broker isn't liable have problems with regulators.
also, your broker has your trader profile on file. and know exactly how much profit or loss you have with them
lol
Yeah you have to make half a million dollars a year to go long 1 ES contract. Where do you guys get this stuff?Im not a total noobie, I understand risk vs reward, I trade with stop losses, I learned alot from my previous mistakes.
THe only reason I applied for a CREDIT CARD was to "build credit" instead of using my debit card all the time and getting nowhere. UNfortunately I was denied a credit card 7 months ago, and I tried about 2 weeks ago too, and was denied ( it was even from the same bank as my debit card) - so idk how the fuck to build a credit history if nobody wants to give me a card. its not like I need the credit card - just the history to develop.
2 years ago I opened a ameritrade account with no knowledge whatsoever of the market, or any other compliance issues without a problem , now I cant even open anything this is soo lame.
THe only reason I applied for a CREDIT CARD was to "build credit" instead of using my debit card all the time and getting nowhere. UNfortunately I was denied a credit card 7 months ago, and I tried about 2 weeks ago too, and was denied ( it was even from the same bank as my debit card) - so idk how the fuck to build a credit history if nobody wants to give me a card. its not like I need the credit card - just the history to develop.
2 years ago I opened a ameritrade account with no knowledge whatsoever of the market, or any other compliance issues without a problem , now I cant even open anything this is soo lame.