What are the safest futures brokers? MF Global and PFGBest have me worried!

Discussion in 'Retail Brokers' started by travelingtrader, Jul 10, 2012.

  1. What are the safest futures brokers? MF Global and PFGBest have me worried!

    Besides selecting a safer broker, is there anything else a futures trader can do to keep their money safer?
  2. just21


    With interactive brokers you can set, in account management, to sweep cash into the securities account that is sipc insured. The interactive brokers universal account is both a securities and futures account. For example you could be long a portfolio of boring dividend stocks and then use them as margin to trade futures or options on futures.
  3. emg


    if u are a small trader, keep opening multiple accounts. If u are a big trader, u have the power and higher educated.
  4. velocity seems legit.
  5. Options12

    Options12 Guest

    This statement is misleading.

    Cash used to trade futures or forex is not SIPC protected even if it is swept from the commodities sub-account into the securities sub-account of your Universal account.

    Confirm this with IB and with SIPC. You can reach SIPC via asksipc@sipc.org.
  6. I'm considering transferring business to ADM Investor Services.

    Because ADM is a highly profitable physical commodity processing business, with billions in physical assets I feel good about the firm and the direction they're heading in.

    ADM Investor Services is a very small portion of ADM's revenue, but they realize how important their clearing firm is because if not for it, they probably would have had millions on deposit with other, less stable FCMs.

    Most other FCMs, as I can see, are purely financial companies.

    Their *EXCESS NET CAPITAL* is strong @ $120mm, and $3.07bb in customer segregation.

    If there's a better choice I haven't found it yet....

    PM me if you need a contact.

    I still clear @ Dorman and RJO Brien, FWIW.

    Good luck!
  7. Well, as a customer of theirs, I can't say that I'm exactly happy to see them down there, regardless.
  8. Open new accounts at other firms
    #10     Jul 10, 2012