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Open margin restricted /no margin index futures account with no/bad credit?
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Open margin restricted /no margin index futures account with no/bad credit?

  #1 (permalink)
Trading Apprentice
las vegas nv/us
 
Futures Experience: Beginner
Platform: tradestation
Favorite Futures: Emini
 
Posts: 3 since Jan 2017
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Open margin restricted /no margin index futures account with no/bad credit?

My friend is interested in trading the DJIA Index Emini contract. She tried opening an account with ninjatrader but was denied by Phillips brokerage due to credit history. She believes this stems from the double whammy of having PayPal placing extensive holds on incoming payments to her business which ultimately resulted in the business failing ( She is not a party to the class-action lawsuit against PayPal because she found out about the suit to late to join it), and the unfortunate circumstance of being the victim of a burglary several years ago in which her business laptop and other personal identity information was stolen which resulted in an identity theft situation...all verifiable with police reports....
I have been urging her for years to get into trading the DOW Emini and now that she is ready she has run into this brick wall,,,needless to say her enthusiasm is quickly waning....My question is twofold; Where can my friend open a limited margin / margin restricted or no margin account where she can trade 1 (for starters) DJIA index Emini contract ?
and
Does Robinhood offer that?

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  #2 (permalink)
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  #3 (permalink)
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Omer עומר / Israel י
 
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What if she opens a Topstep combine and makes it into a funded trader ?

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  #4 (permalink)
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Cleveland Ohio/United States
 
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She should focus on fixing her credit reports, since almost all legit US brokers will use close to the same criteria. I suppose if she deposits enough money, she might be OK. But to the brokerage, she is a new trader with bad credit - not a good risk for them.

The identity theft issue should not impact her credit at all. If it does, she needs to fight it with the credit bureaus. I have been a victim twice in the past 10 years, and my credit score is close to perfect.

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  #5 (permalink)
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I think I was fooled again...

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  #6 (permalink)
Trading Apprentice
las vegas nv/us
 
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Topstep combine and turn it into fund trader?


rleplae View Post
What if she opens a Topstep combine and makes it into a funded trader ?


where does she start?

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  #7 (permalink)
Trading Apprentice
las vegas nv/us
 
Futures Experience: Beginner
Platform: tradestation
Favorite Futures: Emini
 
Posts: 3 since Jan 2017
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where /how do i request an application


rleplae View Post
What if she opens a Topstep combine and makes it into a funded trader ?

where /how do i request an application

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  #8 (permalink)
Elite Member
Omer עומר / Israel י
 
Futures Experience: Master
Platform: NinjaTrader, Proprietary,
Broker/Data: Ninjabrokerage/IQfeed + Synthetic datafeed
Favorite Futures: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
 
rleplae's Avatar
 
Posts: 2,460 since Sep 2013
Thanks: 1,690 given, 3,653 received
Forum Reputation: Legendary


Skorpion View Post
where /how do i request an application

You can go to :
https://www.topsteptrader.com/

I would recommend to read the threads :

https://futures.io/vendors-product-reviews/11360-anybody-heard-topsteptrader-review.html

https://futures.io/vendors-product-reviews/25776-topsteptrader-s-michael-patak-president-ask-me-anything-ask-me-anything.html

Good luck !

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