I have been looking to open an account at one of the better capitalized, large FCMs (Goldman, JP Morgan, Morgan Stanley, etc.), and it seems like they do not take individual accounts. They all seem to be looking for corporate accounts, CTAs, funds, etc. Is there any way to open a futures account at one of those big firms? Account size requirement, annual commission threshold, etc. The reason I am looking for a big FCM is that it seems the smaller FCMs don't have access to swaps, and cash fixed income, which is a big fly in the ointment.
We introduce to Wedbush (Medium sized) and ADMIS (Also Medium Sized but a sub of Archer Daniels Midland). I don't know anything about the size of your account and what swaps you are looking at. I suspect that Cash Fixed income would be in a securities account not a Segregated Futures account. Shoot me an email with more specifics and I'll give you a call to find out if we can help. Bob
http://www.cqg.com/partners/fcms/abn-amro ABN AMRO take individual accounts and are the highest level of clearing member.
Last time I spoke to them they require a minimum commissions per month of $10,000. That might be higher now.
Hello @MarketOwl. Outside of Wedbush & ADMIS, you may try RJ O'Brien, RCG & Macquarie. If you speak with someone in our sales department, they will assist you with attaining a relationship at a FCM who will accept your account.
16,000 £ per months, asked two months ago @MarketOwl Capitalisation is not that important for FCMs because your assets held at an FCM must be segregated (that is, the part not used as margin). Capitalisation matters when you're dealing with swaps and other OTC products where your counterparty is not cleared. Hence you should talk to the FCM that gives you the best service
Thanks for the info. Commissions threshold is a bit higher than I expected, but I guess that is what it takes to trade with the bank FCMs to get access to swaps.
I haven't dealt with Wedbush but can vouch for ADMIS, where I've done a lot of business. They're one of the finest firms in the industry.