Frequently Asked Questions
Accounts | Trading | Software | Statements | About FuturesBroker.com
Accounts
How long does it take to open an account?
If you use the online signup, and wire the funds, this process can be complete in
as little as 45 minutes.
What is the minimum initial deposit required to open an account?
The minimum initial deposit to open an account is $5,000.
Can I transfer an existing account to your company?
Yes, you can transfer funds directly from another brokerage firm and, where applicable,
positions from another brokerage firm.
What are your commission rates?
On the website under the drop down menu labeled "Commissions," you will
find commissions for individuals, corporations, hedge funds, and Introducing Broker
Dealers.
What kind of intraday margin would I have if I opened an account with FuturesBroker.com
Depending on your trading style, the intraday margin would be 2 times the overnight
buying power to 8 times the overnight buying power. FuturesBroker.com is very aggressive
with buying power for the individual high-volume trader.
What type of account can I open?
Individual, corporate, or partnership. You may also open a managed account in which
someone else trades.
How do I open an account?
The account forms for individual, corporate and partnerships are located on the
website and can be completed online. Your account number will be assigned to you
online instantly and your account will be open automatically.
How do I request to receive funds from my account?
Login to your Customer Portal and choose outgoing wire/check request. Request will be reviewed
and go out within 12 hours from request.
What fees do you charge for services like outgoing wires and broker assisted trading?
Please refer to our Fee Schedule for this information.
Trading
What is the required margin for the emini products?
The initial margin for the E-mini S&P 500 contract is $5625.00 and for the E-mini
Nasdaq is $3500.00. The maintenance margin is $4500.00 and $2800.00 respectively.
View a full listing of margin requirements.
What happens if I lose my internet connection while trading?
Please contact us immediately if you are in a trade, so that
we can execute the trade for you.
How much does the average trader make?
We do not release that information to the public.
How many contracts can I trade for $10,000?
If you were, for example, trading the S&P 500 E-Mini contract, your initial
margin would be $5625.00. So you would be able to hold two contracts overnight.
Intraday margin would be greater depending on your trading style.
Can you recommend a funds manager?
No.
Can you or someone trade for me?
We cannot trade for you, but you can have an account manager or CTA to trade your
funds usually with several others also. You will have to find your own funds manager.
How do start trading online if I have never traded online before?
Unfortunately,
trading futures online is VERY different than trading with a broker. Beginning traders
need guidance about expiration dates, volatility, reports, liquidity and several
other small factors before they begin trading.
Software
Do you offer charting services?
No. But we can recommend several to you.
Statements
Do you charge for your electronic daily statements?
No, they are free, as long as you have a valid e-mail address.
Who do I call if I did not receive my account statement?
You should contact call us or send us an e-mail and we will send another copy of
your statement out immediately.
Is there somewhere I can go online to check my up-to-the-minute account balance?
No, but you do receive a daily e-mail statement after each day you trade. You can
also view positions through the account portal with our position monitoring service.
Do I get a statement every night in email?
Yes, your statement will be emailed to you each evening after your trading day is
complete.
Can you send my statement to more than one e-mail account?
Yes, the ability to send duplicate statements is available in your account portal.
You can also contact us for
help in setting this up.
What are all those numbers at the bottom?
Those numbers reflect your current balance and how much money you have made or lost
in the current trading day. It also shows your fees and commissions based on the
amount of contracts that you have traded that day.
Why is my statement showing me making/losing money?
If you held any positions overnight, your p/l is calculated on the closing price
of the market for the positions that you are holding. If this number is higher/lower
than your position, your p/l will reflect that.
Why is my statement showing me long/short?
Your statement will show any open positions you had when the market for a particular product closes.
For example, if the market hours for a product you are trading are from 3:30pm CST till 3:15pm CST, your statement would show
you long/short if you had any open positions at 3:15pm CST when the market closed.
Which is a buy and which is a sell on this statement?
All numbers in the left hand column are your buys and all numbers in the right hand
column are your sells. See the sample statement.
About FuturesBroker.com
What are your business hours?
Our normal business hours are from 7:00 am to 5:00 pm CST. Our trading desk is open
after hours depending upon market conditions.
Do you have office locations or network connectivity in other cities besides
Houston?
Yes, we have offices located in the following cities.
Aspen, Colorado - Chicago, Illinois - New York, New York
- London, England
We are connected on the level 3 network, the MCI Network, the AT&T network,
and the Yipes Network which takes us to most cities electronically. If volume dictates,
we may drop a direct connection into your city.
Do you have more than one office in Houston?
Yes, but only one office is open to the public, the other facility is just for data
and servers.
Are you an FCM?
No, we operate in partnership with Clear Chicago Group, the dba for a registered
futures commission merchant.
Who do you clear through?
Clear Chicago Group, the dba for a registered futures commission merchant that holds
customer's funds.
How long have you been in business?
FuturesBroker.com was founded in 2007 and launched retail trading in May of 2009.
Is my money insured?
No. There isn't any insurance in the futures industry as there is in the banking
and securities industries.
Due to the strict daily financial reporting requirements, substantial net capital
requirements to hold customer funds on deposit, and the vigorous audits performed
by the National Futures Association (NFA), your funds on deposit with a United States
FCM are well protected.
Do you have a refund or protection policy?
No. Please read the risk statement from the CFTC contained on the website.
How many retail customers do you have?
We do not release that information to the public.
How many prop traders do you have?
We do not release that information to the public.