Emini's for $500 margin?

Discussion in 'Retail Brokers' started by dowsallwet, Mar 4, 2003.

  1. 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
     
  2. Brandonf

    Brandonf ET Sponsor

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

    Brandon
     
  3. Normally the red flag is thrown up when someone tries to tout a company on their first post.
     
  4. 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!!
     
  5. 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
    :confused:
     
  6. with 500 bucks the time you last could be as low as hours instead of days.
     


  7. experienced ??

    :confused:
     
  8. 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
     
  9. H2O

    H2O

    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
     
    #10     Mar 4, 2003