Even if that's the case (and I don't know it is)... keep in mind there are a number of bills in Congress right now that will get rid of that advantage for limited partnerships, ie CPO funds. I've read that the financial interest take it for granted that it's only a matter of time until that passes into law.
I also heard that MF Global is very "CTA Friendly" ... do you know anything? I am not familiar with their platform at all. I hear Interactive Brokers has big financial professionals offering icluding CTAs but I am never looked into them. I used to have personal account with IB and didnot like it, neither I liked TradeWorkStation - but they are cheap, probably cheapest ?
I don't really know what MF Global's reputation stems from. MF Global supports TT of course, and should have access to all the standard industry tools. The quote I received from MF Global's institutional group wasn't very impressive, to put it mildly. I got a better quote from a few IBs, but still nothing especially impressive. The limited interaction I've had with MF Global has so far confirmed my initial impression: they're a large company, and they operate like a large company. (Layers of bureaucracy, etc.)
Aaron who did you start out with CTA business? I read some of your interviews for the magazines and that youw orked for Monroe Trout...but how exactly did break out on your own. Would say $100-150K of personal funds good enough to start?
Yes, I learned futures trading and strategy development working for Monroe Trout, first in Chicago and then in Bermuda. If you are currently employed, try to get your start as a CTA without leaving your job. Start trading your own money if you can to build up a track record. Yes, having money to cover your first year expenses before going out on your own is important.