I have been trading futures with Wedbush. Wedbush does not show margin requirements when you enter a trade. Margin requirements are only required when you hold a position overnight and that it is only indicated in my statement. (Is this a common thing with other brokers?) I was trading with TT net pro and it seems to be a problem for me not to be able to see my margin requirements. Does anyone have these kinds of issues? Or is it just me?
dextor, You are somewhat correct. Wedbush does not have their own in house software, so Wedbush does not tell you what your SPAN margin requirement is. The requirement would have to come from TT. I'm not sure if TT has a SPAN margin up load for Wedbush clients. I believe they don't. Wedbush does control risk by setting Max order size and Max Position size for each symbol you trade. Are they your broker too, or just your FCM. We introduce to Wedbush. For software that is SPAN margin based too, like CQG, they also load max order size and max position size, but can also allow excess margin for day trading. We can offer that on CQG and Real Tick. It can be set at 25%, 50% or 100%. As a side note, if you are concerned, you can request their risk client called Object+. Object+ only costs $100/month and provides real time SPAN margin, option greeks, positions and P/L. TO my knowledge, there are no other real time platforms that do that including options.
Wedbush is my FCM, and efutures.com is handling my account. Still not exactly sure if efutures is my IB or what. The commissions doesn't seem to be attractive either. They are checking if they can lower my commissions and I am waiting for their reply. I am seriously considering using CQG or even CTS. Because TT net pro's autospreader doesn't allow me to close my synthetic spread and even worst reverses my spread trades most of the times. I ended up manually closing each leg. First time I have encountered this problem it was highlighted to them, and I lose around $1k attempting to close the trade. Today lost a few more hundreds attempting to close a spread. I am still waiting for TT net pro to fix this. Not sure if I want to continue using TT net pro.
efutures.com is their in house retail offering. Happy to chat to see if I can do better. Just shoot me an email with your contact information and the best time to call. Bob
No interest. and those are for generally for securities, not futures. The JBO/Prop world is on the decline. The model does not work anymore.
I replied to the wrong person. Financing wise it is still lucrative. Not for deposit firms, but purely on financing terms. I've got a contract right now, and I'd rather pay the 300K than go retail.
I'm not following your statement. You would put $300,000 USD into a JBO/Prop firm? I'd say the average deposit is $10,000. What financing terms are your referring to ?Are you talking about the leverage?
I wrote my own AutoSpreader after getting frustrated with the usual suspects. It can even spread instruments among brokers. Can handle any number of legs and combination of asset classes.
Hello @dextor. Autospreader will absolutely allow you to close your synthetic spread position. Please send me a Private Message with your contact information and I will work with our support team to resolve this issue. Kind regards, Patrick