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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

  #1 (permalink)
Elite Member
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Long and Short Positions on same/different Brokerage Accounts

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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  #3 (permalink)
Market Wizard
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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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  #4 (permalink)
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Ok great. Thanks Cory.

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  #5 (permalink)
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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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  #6 (permalink)
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  #7 (permalink)
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Thank you for your response and link. I will look into it a little further.

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  #8 (permalink)
Market Wizard
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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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  #9 (permalink)
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I'm not a lawyer either, but Im pretty sure violating Federal regulations qualifies as illegal.

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