Best broker for large funds

Discussion in 'Retail Brokers' started by usman88, Feb 3, 2008.

  1. usman88


    Which broker is the best (in terms of funds security, insurance, ease of withdrawl etc) for large funds to be specific $1 million+. Please keep in mind that account holder is not a US citizen(and does not resides in US either) and will be DAY trading commodity & financial futures. Account holder is currently with MFGlobal(having an account of $50K) but would like to know additional options too in order to diversify risk associated with having too much funds with a single broker. Also advise on credibility of MFGlobal.
    The factors that matter are

    1)Funds security(financial background and strength of the brokerage firm)
    2)ease of withdrawl(whether the firm is capable of sending out large funds on a daily basis)
    3)Insurance(funds must be insured by relevant US authorities)
    4)Supportive staff preferably a dedicated contact

    Please provide your valuable suggestions
  2. the only ins you'll have in reality is sipc of 100k cash, 500k securities and excess ins which doesn't mean a ton.with commodities theres no real ins with anybody. you might be able to set up some type of tbills and day trade against them. its a problem we all face with large accounts. i'd say for what you need with commodities and with a large account outside going with a goldman i'd go with interactive brokers
  3. criteria 2 and 4 pretty much eliminate ib.
  4. usman88


    Theres gotta be some company. MFGlobal is one but I need more in order to diversify. I am sure there are tons of traders with account balances of $1 million+.
    When I am talking about insurance what I basically mean is that a company with s stable future financial outlook, a company which won't run away with the funds etc.
  5. RedRat