Interactive Brokers alternatives for futures and CFDs

Discussion in 'Retail Brokers' started by mr_sandman, Apr 24, 2018.

  1. I've been with Interactive Brokers for a long time now. Many of you will know that they recently introduced a concentration margin, which puts a 30% margin for the largest group of CFD positions (they group them based on similarity). I trade a CFD as a spread with a S&P emini future, and so require good leverage to get meaningful risk. The new margin requirement has made my trading strategy non-viable on IB. So I am now looking for a new broker.

    I have looked at RJ O'Brien but am concerned about their customer funds segregation (they were fined a few years ago back by CFTC), and also their online platforms are quite expensive.

    Berkeley Futures look good, but their financing rate for CFDs is high (3% +/- benchmark) and since I trade only a few times a month they'd charge me $7.50 for futures. Very expensive.

    Any suggestions would be appreciated. I am based in the UK (if that matters).
     
    Last edited: Apr 24, 2018
  2. Based on your experience trading CFDs, which broker offers CFDs on the largest number of US stocks?
     
  3. I only trade a single CFD, but IB have a product listing on their website. Wouldn't know who has the best coverage.
     
  4. JackRab

    JackRab

    which CFD do you trade in a sp500 spread?
     
  5. mergerpie

    mergerpie

    i was affected too... i moved some capital to IG markets at a higher margin cost...abt 2.5% + base... execution and fill wasn't on par with IB also... i think you can explore Degiro..their margin cost seemed ok but I'm not sure if their offerings is right for u...
     
    Last edited: Apr 25, 2018
    mr_sandman likes this.
  6. Thanks for the suggestion, will check them out.