Time to open retail brokerage account? - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


Time to open retail brokerage account?
Updated: Views / Replies:1,664 / 11
Created: by Limitless100 Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Time to open retail brokerage account?

  #1 (permalink)
Trading for Fun
New York, New York
 
Futures Experience: None
Platform: Takion
Broker/Data: GPC
Favorite Futures: Stocks
 
Limitless100's Avatar
 
Posts: 97 since May 2014
Thanks: 163 given, 55 received

Time to open retail brokerage account?

Hey Guys,

I'm in the process of opening an account with a broker and have been waiting quite some time now!
I sent in all the necessary paperwork to my broker, they told me it was being forwarded to the clearing firm to open the account. I waited over a week than got notice I had to re-sign a specific sheet that the clearing firm updated. I signed/filled out what I needed, and sent it back in. It has been over a week again and I have heard no update. It has been roughly two and a half weeks since this started and my account is still not open to transfer money into.

Would this give anyone a sour taste in regards to the broker? Or is it mostly just a slow moving clearing firm?

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Lehrte, Germany
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: PTP / Rithmic
Favorite Futures: NQ
 
Daytrader999's Avatar
 
Posts: 1,161 since Sep 2011
Thanks: 1,137 given, 1,565 received



Limitless100 View Post
It has been roughly two and a half weeks since this started and my account is still not open to transfer money into.

Would this give anyone a sour taste in regards to the broker? Or is it mostly just a slow moving clearing firm?

Well, since we don't know which broker you've chosen, it might be quite difficult to judge about this time span...

But for sure it's not impossible / that unusual that the clearing firm needs a little bit more time to check everything until they clear your files and finally open your account for funding.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Reply With Quote
The following user says Thank You to Daytrader999 for this post:
 
  #4 (permalink)
Trading for Fun
New York, New York
 
Futures Experience: None
Platform: Takion
Broker/Data: GPC
Favorite Futures: Stocks
 
Limitless100's Avatar
 
Posts: 97 since May 2014
Thanks: 163 given, 55 received


Daytrader999 View Post
Well, since we don't know which broker you've chosen, it might be quite difficult to judge about this time span...

But for sure it's not impossible / that unusual that the clearing firm needs a little bit more time to check everything until they clear your files and finally open your account for funding.

Okay thanks!
The broker is Great Point Capital.

Reply With Quote
 
  #5 (permalink)
 Vendor: www.probabletrades.com 
OC, California, USA
 
Futures Experience: Advanced
Platform: IB/TWS, NinjaTrader, thinkorswim
Favorite Futures: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,857 since Jun 2009
Thanks: 480 given, 3,247 received

Click "Details", they have 5 FINRA "regulatory events" on their record. Be careful.

GREAT POINT CAPITAL LLC (114203) - Brokerage Firm - FINRA BrokerCheck

Reply With Quote
The following 2 users say Thank You to shodson for this post:
 
  #6 (permalink)
Trading for Fun
Los Angeles, CA
 
Futures Experience: Beginner
Platform: ThinkorSwim
Favorite Futures: Softs
 
Posts: 68 since Dec 2011
Thanks: 55 given, 31 received

Out of curiosity, why did you choose Great Point?

Disclaimer: I have no experience or knowledge about this firm nor do I mean for my question to infer or suggest that I question the decision. I am merely interested in getting some insight into the rationale you used to select a broker as I am currently in the process of looking to open an account.

Reply With Quote
 
  #7 (permalink)
Market Wizard
Kyoto, Japan
 
Futures Experience: Intermediate
Platform: TW TOS LiveVol
Broker/Data: TD, TW, IB, Saxo
Favorite Futures: UVXY, VXX, VIX, /VX
 
suko's Avatar
 
Posts: 968 since Oct 2013
Thanks: 694 given, 755 received

I've been waiting for more than a month on a corporate account with IB.
I think compliance depts. are bogged down in anticipation of the rollout of FATCA
on July 1.

Reply With Quote
The following 2 users say Thank You to suko for this post:
 
  #8 (permalink)
Trading for Fun
New York, New York
 
Futures Experience: None
Platform: Takion
Broker/Data: GPC
Favorite Futures: Stocks
 
Limitless100's Avatar
 
Posts: 97 since May 2014
Thanks: 163 given, 55 received


shodson View Post
Click "Details", they have 5 FINRA "regulatory events" on their record. Be careful.

GREAT POINT CAPITAL LLC (114203) - Brokerage Firm - FINRA BrokerCheck

Thanks for this, I already read through it early when I was researching them. I searched "Lime Brokerage" after I saw this and they have 10 regulatory events. I'm sure 99% of the members on this site would happily work with lime if the opportunity arose, so I chose not to stress about the 5 events in GPC!


JTurner77 View Post
Out of curiosity, why did you choose Great Point?

Disclaimer: I have no experience or knowledge about this firm nor do I mean for my question to infer or suggest that I question the decision. I am merely interested in getting some insight into the rationale you used to select a broker as I am currently in the process of looking to open an account.

I didn't want to go with the stereotypical retail broker, their platforms/tech is horrible. I searched around until I can find a firm that had above average tech. Through GPC I have access to the Takion Platform, which is looked at to be one of the better ones from what I have read. They are also a Proprietary trading office who happens to be registered as a broker dealer as well.


suko View Post
I've been waiting for more than a month on a corporate account with IB.
I think compliance depts. are bogged down in anticipation of the rollout of FATCA
on July 1.

Wow, who does IB clear through?

Reply With Quote
 
  #9 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,103 since Feb 2012
Thanks: 3,773 given, 7,592 received
Forum Reputation: Legendary

Even if you have waited weeks (a month or more) and your account is opened and the money
is showing up on your screen - you could face more hassles: like some ticks were not made on a form
causing a fault when you want to trade or you do not have the access to the desired instrument...
Or there are some more forms to sign before you can trade your instrument because you are living
in another country - etc... you name it.
These are some hurdles every trader has to fight with at the beginning.
Don't be upset - things will settle at the moment you fired your first trade then!
Good trades

GFIs1

Reply With Quote
 
  #10 (permalink)
Elite Member
Hanover, Germany
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Crude Oil
 
Scalpingtrader's Avatar
 
Posts: 1,440 since Apr 2014
Thanks: 1,734 given, 3,075 received
Forum Reputation: Legendary



GFIs1 View Post
Even if you have waited weeks (a month or more) and your account is opened and the money
is showing up on your screen - you could face more hassles: like some ticks were not made on a form
causing a fault when you want to trade or you do not have the access to the desired instrument...
Or there are some more forms to sign before you can trade your instrument because you are living
in another country - etc... you name it.
These are some hurdles every trader has to fight with at the beginning.
Don't be upset - things will settle at the moment you fired your first trade then!
Good trades

GFIs1

not to forget getting it back at some point in time

Reply With Quote
The following user says Thank You to Scalpingtrader for this post:

Reply



futures io > > > > Time to open retail brokerage account?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

Dec 7

Linda Bradford Raschke: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Can you open an account with $3000? and start trading the ES budfox Reviews of Brokers and Data Feeds 54 August 21st, 2013 04:37 AM
Have you dealt with any of these brokers? Looking to open an account budfox Reviews of Brokers and Data Feeds 11 July 7th, 2013 02:13 AM
what time does the TF open? Upupandaway Emini Index Futures Trading 4 December 27th, 2011 01:59 AM
Big time frames with small account Morainer Psychology and Money Management 10 June 24th, 2011 04:16 PM
What time does CL open skyfly Traders Hideout 8 April 14th, 2011 01:02 AM


All times are GMT -4. The time now is 09:13 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-11-18 in 0.11 seconds with 19 queries on phoenix via your IP 54.80.157.133