Any broker offers 50% DayTrading margin for the HSI(Hang Seng) and HHI other than IB?

Discussion in 'Retail Brokers' started by trade78, Aug 21, 2007.

  1. trade78



    I am looking for a secondary broker that offers 50% day trading margin (or less) for the HSI (Hang Seng) and the HHI (both index futures) other than IB.

    It seems that there are not many out there offering this, so any suggestion would be appreciated and welcome. Preferably big name one (similar to IB) and got a good reputation but any suggestion is welcome if you know of any.

    I think Tradestation offers HSI futures (but not the mini?), but they don't offer 50% day trading margin.

  2. wiseass


    Im currently investigating using IB to trade the HSI. Would like to hear your experiences with them.
    Does IB offer a mini contract?
  3. The mini doesnt trade so far today its traded 690 vs 39k on the main one
  4. def

    def Sponsor

    Need to correct you on that.

    IB does offer the mini and as of the break almost 15K have traded. The front month is still August. The mini will always track the big contract well.
  5. My bad sorry you are right
  6. wiseass


    does IB provide accurate time and sales data for his contract (or any contract for that matter)?
  7. trade78


    Hi Def from IB,

    Note that IB just now has a new day trading requirement, which is 4% of contract value or 50% regular margin (overnight) requirement for daytrading. For HSI, it is now (as of August 22nd) around 22400 x $50 x 4% = $44800 as compared to $36333 previously.

    Def, it this a short-term policy only (due to recent increased volatility) or is it going to be permanent? The main reason I and many other are attracted to using IB is because of its 50% day trading requirements and with this policy, the attraction to stick with IB greatly reduce as far as my trading goes (I day trade mainly, probably same for those who day trade). It's not a big concern for those who trade 1 or 2 contract but definitely affect those who trade more contracts as more cash is now needed to sit in the account.

    Is it going to be long term? It's a pity if it is and I wonder if you can reflect it to the management and I hope things return to "as before" soon. If volatility and ATR decreases I hope the day trading requirement returns to 50% again.

  8. def

    def Sponsor

    It should be temporary. I had nothing to do with the decision but with markets like HSI flipping around 1000 points a day, it probably prudent decision.