Broker for Non electronic markets

Discussion in 'Index Futures' started by jem, Jan 20, 2003.

  1. jem


    I recently(end of december) attempted to open an account with a futures broker and I overnighted a check. It was rejected because I opened the account in my name but the check came from my business. I questioned the rep on the reasons for this rule especially in light of the fact taht I signed the check and I was the only signatory and owned all the shares of the corp.

    He asked me to send one from my personal account, I said I did not keep that much in my checking account. He said I could send a wire. I said for the same account he said yes. I went to my bank BofA and it took them about an 40 minutes to get my signature card, (the second time I went there) but they finally got my wire out. Guess what the clearing firm does not accept wires from non same name accounts.

    I no longer want to work with this original broker. So here is my question. I am accustomed to electronic trading and would prefer to not have to pick up the phone. Who has good fast executions, at a reasonable price into non electronic pits. Keeping in mind I would like to manage the trade over my computer and not the phone (most of the time). Thanks for the help.
  2. def

    def Sponsor

    i'm not sure what broker you are dealing with but the new anti-money laundering regulations can be quite strict and are probably the reason for their policy
  3. Htrader

    Htrader Guest