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).
I only trade a single CFD, but IB have a product listing on their website. Wouldn't know who has the best coverage.
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...