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Long and Short Positions on same/different Brokerage Accounts


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Long and Short Positions on same/different Brokerage Accounts

 
 IMN77 
Kuwait
 
Experience: Intermediate
Platform: NinjaTrader
Trading: oil
Posts: 6 since Jan 2011
Thanks Given: 8
Thanks Received: 3

Hi,

I am new to posting a thread. I have tried looking in different threads but could not find an answer to my query.

I am basically interested in having a long or short position in a trade and "hedging" my position by taking a (long or short) for that trade thereby limiting my risk. I asked my broker and they said that I can't do it on the same account and maybe not even on a different account. My question is, if I opened another account with a completely different broker would I be able to go, say, short with one broker and long with a completely different broker.

Thank you.

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 cory 
virginia
 
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IMN77 View Post
Hi,
.... My question is, if I opened another account with a completely different broker would I be able to go, say, short with one broker and long with a completely different broker.

Thank you.

yes!

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 IMN77 
Kuwait
 
Experience: Intermediate
Platform: NinjaTrader
Trading: oil
Posts: 6 since Jan 2011
Thanks Given: 8
Thanks Received: 3

Ok great. Thanks Cory.

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 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
Posts: 1,145 since Feb 2010
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I could be wrong and maybe things have changed, but I seem to remember that it's illegal, i.e. you could be fined/banned from trading. I would go here and inquire at the very least. U.S. Commodity Futures Trading Commission

Regardless, what's the difference between doing that and just flattening? It will cost you the same.

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 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
Posts: 1,145 since Feb 2010
Thanks Given: 304
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More info


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 IMN77 
Kuwait
 
Experience: Intermediate
Platform: NinjaTrader
Trading: oil
Posts: 6 since Jan 2011
Thanks Given: 8
Thanks Received: 3

Thank you for your response and link. I will look into it a little further.

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 cory 
virginia
 
Experience: Intermediate
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vegasfoster View Post
I could be wrong and maybe things have changed, but I seem to remember that it's illegal, i.e. you could be fined/banned from trading. I would go here and inquire at the very least. U.S. Commodity Futures Trading Commission

....

imho it's not illegal but I'm not a lawyer. However when there's a will there's a way thus my short answer is yes but I have nothing more to elaborate.

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 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
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Trading: 6E
Posts: 1,145 since Feb 2010
Thanks Given: 304
Thanks Received: 844

I'm not a lawyer either, but Im pretty sure violating Federal regulations qualifies as illegal.

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Last Updated on August 13, 2013


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