Hi, I need help choosing a futures broker, I like Interactive Brokers but their margins don´t work for me. what do you think of proactive futures?
Make sure you do your due diligence with any of the smaller firms. Check who they clear through, and take a look at the NFA website for any other problems the firm may have. IB certainly has problems, but they are rock solid financially, conservative in their trading policies (high margins), and you can trade just about anything from one acct. I know that Velocity has been advertising that they still have $500 E mini daytrade margins if that is what you are looking for. Good luck surviving for more than a few days if you actually leverage yourself to this degree however. Anyway, they seem to have good reviews in the broker section here on ET. Jay
thanks jay, I´ll check velocity futures, proactive futures seems nice with very low margins and they clear through Transact Futures.
devil - you need to make sure to check w/ Open ECry as well. During these recent weeks, margins have not flinched at all at OEC, even as a subsidiary of Options Xpress now. I was a little nervous that things might change when OX bought them, but it truly has been business as usual. Margins have not been altered during these volatile times - and not b/c they are careless but they have some very strict, but the risk system in place works as it should. http://www.openecry.com