Futures brokerage with low net worth requirements.

Discussion in 'Retail Brokers' started by KageRyu, Sep 24, 2011.

  1. KageRyu


    Is there a brokerage with low net worth requirements? Interactive Brokers requires that you have a liquid net worth of at least $100K. Also, can someone recommend me a good futures broker besides IB. Thanks.
  2. You have a net worth of at least 100k. Everybody that trades with IB has a net worth of at least 100k. Who else in their right mind would put up the minimum 10k to open an account to trade on margin?

    Heck, I have an old rocking chair on my porch that is worth at least $100,000.
  3. KageRyu


    Thanks for making me feel poor. I detect massive sarcasm in your post though. I was going trade futures with $26K but I guess I don't have enough liquid net worth. Anyone else have any good suggestions?
  5. http://www.openecry.com

    I don't recall hearing many turned away from OEC, could be worth a look. Very nice platform w/ free data to live accounts.
  6. KageRyu


    Will look into OEC. Thanks.
  7. moarla


    wello, put in a networth of 5.000.000
    nobody will check it :)
  8. JamesL


    For the most part, very few brokers will check the accuracy of the financial info you claim when you submit a new brokerage application. That number you quote from IB is just there for THEIR protection in case you blow up - you can't claim after the fact that you shouldn't have been trading when you claimed that you were worth far greater than you actually were. Hell, IB doesn't even pull a credit inquiry before opening an account. Just check off the minimum amt necessary when going thru the application process if you really want to trade with them.
  9. that's what I was trying to tell him. 26k is more than enough to start trading with and at least at IB he will get good fills and low commissions. I get a little concerned though if someone is too timid to be creative on an account application. That really should be the easiset part of trading. It gets a little more difficult after that.
  10. KageRyu


    Thanks for the advice guys. I'm kinda surprised that brokers don't check the accuracy of the financial info their customers submit. I guess they just want to protect themselves and get paid commissions/fees.
    #10     Sep 25, 2011