Emini's for $500 margin?

Does anyone know of the reputation of a online broker called daytrade4less?

Daytrade4less.com

The margin is excessively low and I'm wondering if that should throw up a red flag? Other than the usual caveat to the trader about trading futures etc.

Gus

 

I think $500 is just a little low Esp given that it can move more then that on a hiccup.

Brandon

 

Normally the red flag is thrown up when someone tries to tout a company on their first post.

 

Dude,

That's not a tout. It's an honest question. I was thinking about doing this but I just wanted to know if this company was legit. Or if there's anything that I should be careful about.

Rosenthal is backing them but I wonder...

That's all.

Gee such paranoia!!

 

See this old thread
http://www.elitetrader.com/vb/showthread.php?s=&threadid=12134&highlight=global+futures

 

1 contract to 49 contracts require $500 day margin for E mini SP & E mini NQ.
50+ contracts require $1000* day margin (ES & NQ).
100+ contracts require additional margin (ES & NQ)

So the more experienced you are, the more margin you need

 

with 500 bucks the time you last could be as low as hours instead of days.

 

experienced ??

 

the ability to day trade one emini contract with 500.00 margin is a good thing. it allows anyone to trade bigger size as their experience increases, without excessive capital reserves. note this is refering to hands on day trading, it takes a little more than a hiccup for one NQ to move against you 500.00. i have not used global futures, but have tried their simulator. its a normal PAT system and works well. in addition, my research indicates that global futures ( daytrade4less.com) is a legit company.

best,

surfer

 

This firm has been around for a while. I heard some good things about them although I do NOT trade with them.

They have the following web sites :

www.daytrade4less.com
www.gfetc.com

See other threaths on Elitetrader for more info.

Hope this helps