IB vs Tradestation

Discussion in 'Retail Brokers' started by adamchubb, Jan 2, 2018.

  1. Robert Morse

    Robert Morse Sponsor

    Not sure if a single member LLC can meet the exemption. Maybe.

    upload_2018-1-3_17-58-38.png
     
    #11     Jan 3, 2018
    comagnum likes this.
  2. You asked, so without gettng chastised here, stay with IB. Based on previous experiences with TS, I would not recommend them for intraday trading.
     
    Last edited: Jan 3, 2018
    #12     Jan 3, 2018
    777 likes this.
  3. Jack1960

    Jack1960

     
    #13     Jan 3, 2018
  4. Jack1960

    Jack1960

    I use a sub s corp. I am the only sharehoder. Can you get me a definitive answer?
     
    #14     Jan 3, 2018
  5. Robert Morse

    Robert Morse Sponsor

    I can ask, but in my experiance with exchanges and their MD fees, there is often never a definitive answer that can't change. Even CME Direct that is currently free including MD, will start charging only Pro-MD in Q2,
     
    #15     Jan 3, 2018
  6. The exchanges consider you a professional. Take advantage of the Trader Tax Status. That will more than cover your exchange fees. Also you can write off a ton of expenses, like exchange fees, data feeds, software subscriptions.
     
    #16     Jan 4, 2018
  7. Robert Morse

    Robert Morse Sponsor

    Rickshaw Man,

    The question was about VX futures. All Futures are 1256 contracts and MTM at year end with no wash sale rule. I'm not aware of any advantage or use for TTS with futures. I expect that is just for stocks and options. The S Corp or any LLC covers the expense side.

    Bob
     
    #17     Jan 4, 2018
  8. This is meaningful information.
     
    #18     Jan 4, 2018
  9. Robert Morse

    Robert Morse Sponsor

    I checked with Wedbush and the CME. Based on what you have provided me, and the sheet I posted, I expect you can get the non-pro excemption. Small company, one owner, one account, not a CTA etc.

    Bob
     
    #19     Jan 5, 2018
  10. I've been with TradeStation since forever trading futures (as a "non-Professional") but not VIX so can't say how that would be treated. Every broker/platform has its pluses and minuses but I would think they would have to treat pro/non-pro status based on SEC/CFTC requirements. Otherwise find another is the right course.
     
    #20     Jan 6, 2018