Well you seem to love them, trade metal. You probably have a small account? I don't mean that to offend, but I think you mentioned you liked the low minimum to open. If you only have a few thousand bucks, then it wouldn't be such a big deal if you had all your money stolen anyway. All of the futures brokers, such as AMP, Infinity, etc.... trade against your account. They're just higher class bucket shops. This guy too. I'm not sure how he exactly does it, but he cannot make his living off of those commissions. He benefits from your money, and he benefits from your account heading to zero. For any one with a large account, I would stick with a big brokerage like IB. I have 25 million dollars insured through Lloyd of London. All the big brokers have that extra insurance on the cash. So you would be insane to park a million bucks with this deepdiscounttrading guy. But for the newbie with a few hundred bucks who wants to play around a bit, it might be all right to check out.
My account is way bigger than 5 or $10.000, but it is way smaller than $25million My estimation of elitetrader users : 85% have no active trading account only papertrade or are not trading at all 10% have an account between $2.500 and $25.000 2% have an account higher than $25.000 1% have an account higher than $100.000 0,01% have an account higher than $1M
Most STOCK brokers have extra insurance over the SIPC coverage. No commodity futures broker offers insurance coverage on money being used for margin. If the broker is registered as a stock broker and a futures broker, then funds not being designated as margin on a futures contract can be placed back into an account covered by insurance. SIPC/private insurance does not provide any protection for funds being used for futures margin.
I use deepdiscounttrading.com as my broker I use esignal trade platform powered by rithmic esignal and rithmic both sponsors of ET Does these company's co-operate with scammers ?
Sure, they are just waiting for the small 1 lot ES scalper to enter an order so they can fade it. (I don't think so.) You are confusing futures brokers with forex market makers.
I trade there and Howard is a great guy. He has great comm. he trades too. I trade the Russell. It gets tough. That's my exp. You'll probably blow out your acct. before he ever goes out of bus.