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  #132 (permalink)

Chicago IL
Trading Experience: Advanced
Platform: NinjaTrader
Favorite Futures: 6E
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COTtrader View Post
@NT Brokerage - Are all LLCs and/or S Corps operating as a trading business or trading education business contrued by law as professional? If so, is this a CFTC ruling or an IRS ruling? If I recall correctly, former Mirus representative commented on the fact that not all LLCs and/or S Corps that have accounts with them are considered professional but non-professional.

Legally, wherein lies the distinction? Please look into operating a non-professional trading LLC/ S Corp?



The distinction is not necessarily an easy one to describe, so I have (tried to) attach the CME Market Data Non-Professional Certification form. This document was designed by CME for this very question.

My understanding is that if you have a LLC operating as a trading-related business, it would be viewed as a professional by CME. If you have a LLC that is setup for your own personal trading, that would fall under the Non-Professional status. Hope that helps.

Risk Disclosure: Futures and forex trading involves significant risk of loss and is not appropriate for everyone.
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