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As I understood the webinar of Ray I have to move my RCG account to RCG directly or to look for another IB who offers RCG.
Now I think that RCG directly won´t offer same margins as Mirus, therefore I would apreciate any recommendations of Discount Brokers who offer RCG with smaller intraday margins.
Thanks ))
Can you help answer these questions from other members on NexusFi?
I think RCG's standard intra day margins are 25% of the initial margin requirements. My broker, Cannon Trading Company clears through RCG and that's what they offer.
Yesterday, Mirus Futures' CEO announced that they are entering an exclusive partnership with Dorman Trading as a Guaranteed Introducing Broker. (See https://ninjatrader.com/)
Upon looking for a definition, I stumbled on this:
An Introducing Broker that has entered into a guarantee agreement with a Futures Commission Merchant, whereby the FCM agrees to be jointly and severally liable for all of the Introducing Broker’s obligations under the Commodity Exchange Act. By entering into the agreement, the Introducing Broker is relieved from the necessity of raising its own capital to satisfy minimum financial requirements. In contrast, an independent Introducing Broker must raise its own capital to meet minimum financial requirements.
Any opinions on why they would drop RCG and RJO overnight?
Edit: @Big Mike, I didn't want to post this here because I didn't think it was related to ZenFire.
