Tradestation doesn't clear their own futures trades. So they go through RJ Obrien. Anyone have an opinion of how stable/safe RJO is? Since futures accounts aren't insured, I worry. IB sweeps the cash from futures accounts into an insured account every night. I wish TS did the same.
E*Trade now offer futures trading via TT, all funds insured. https://us.etrade.com/e/t/activetrading/futurestrading
RJ O'brien. Hmmm, A couple of years back been using them for my Pit trading activities. Been a while haven't heard of them, ever since I go electronic. One of the best! It is based in Chicago. Don't worry! It is safe. . .
Yeah, I don't think you have that much to worry about. They just got an infusion of private equity monies as well with the original RJO owners maintaining a minority interest. (I don't remember where I read that article though.) FWIW - we use their web based platform to execute pit trades - though we're doing that less and less now as more contracts go electronic. But, it serves as a nice little backup trading platform. (We use a different IB than tradestation though). -eLindy
I don't think so. The website says that E-trade securities accounts are insured. It says nothing about insured futures accounts that I can find. Can you show us exactly where it says futures accounts are insured?
Give them a call. I am not sure myself, the link is on the futures page, so I assumed they cover all activity.
But their platform by Trading Technologies is free and all markets are accessible with no monthly fee. Plus as far as I know their commisions can be negotiated down.
Just open a separate account with Global Futures for each exchange and you 'll have X-Trader free with 4.75 R/T all in E-trade charge 2.99+2.99+2.32 = $8.30 R/T CME minis Poor idiots!!