eligibility requirements to open account

Discussion in 'Commodity Futures' started by shooly76, Feb 2, 2011.

  1. shooly76


    hello- I tried opening an acct at lind-waldock about 6 months ago, but I was denied due to my financial status (net worth, employment, and annual income).

    can someone please help me w/ an online broker that does not not look at these things?

    I paper-traded (literally on paper w/ wall st journal...no simulator) corn futures and made close to $12,000 in a month off of 4 contracts (end-of-day trader). I used bollinger ban and made charts by hand..so I was dissappointed when I couldnt open an acct due to my finacial status. I am able to start very small and can only initially deposit $2500..my plan is to start w/ one contract and use stop-losses..I have a good risk/money managent stategy

    I have already started to research forex as the eligibility requirements are much less stringent to open acct, and the minimum deposit so much lower. but the thing is I already have a system for corn and other futures so learning forex is like learning a new language compared to futures
  2. olias


    have you considered opening a joint account? ...Someone you trust obviously.
  3. shooly76


    yes..would that be considered a co-signer? I could still make all trading decisions..
  4. Stay away from many of the FX brokers, particularly the ones that make a market for you to trade. The stop running is crazzzzzzzy! I'd suggest maybe FX futs but the margin reqts are pretty high, or possibly IB as they aggregate cash FX bid/asks from several large firms.