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How to read brokers daily statements
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How to read brokers daily statements

  #1 (permalink)
Elite Member
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lasecondababele's Avatar
 
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How to read brokers daily statements

My broker is Dorman and I'm unclear on how to interpret the statements.
I have transferred GBP, trade a european index, hence the need to have everything converted into EUR, and of course Dorman will show converted totals in USD.
Here are two clips from the same statement, on the same day
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My questions are:
What's the difference between the secured amounts and unsecured amounts?
Why is the beginning balance in the top half different fro the beginning balance in the bottom half?
What does margin deficit mean? As in: deficit compared to what figure?

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
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lasecondababele View Post
My broker is Dorman and I'm unclear on how to interpret the statements.
I have transferred GBP, trade a european index, hence the need to have everything converted into EUR, and of course Dorman will show converted totals in USD.
Here are two clips from the same statement, on the same day
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

My questions are:
What's the difference between the secured amounts and unsecured amounts?
Why is the beginning balance in the top half different fro the beginning balance in the bottom half?
What does margin deficit mean? As in: deficit compared to what figure?

hi

I too am with Dorman, but I do not seem to have 2 beginning balances, just the one.

I think the "secured amount" may have to do with where they keep part of the funds (I may be wrong), but I wouldn't worry about it.

In your screenshot "margin deficit" seems to be the same as "account value at market". Difficult to understand differences with only one screenshot but if it's always the same I would keep tabs on the other two columns.

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  #4 (permalink)
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lasecondababele View Post
My broker is Dorman and I'm unclear on how to interpret the statements.
I have transferred GBP, trade a european index, hence the need to have everything converted into EUR, and of course Dorman will show converted totals in USD.
Here are two clips from the same statement, on the same day
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

My questions are:
What's the difference between the secured amounts and unsecured amounts?
Why is the beginning balance in the top half different fro the beginning balance in the bottom half?
What does margin deficit mean? As in: deficit compared to what figure?

What do you see in your trading platform? Gross/net profit/loss? I can drop you statement from forex broker (Hotforex) to compare, its easier to figure out what numbers in statement mean, I think it should help..

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  #5 (permalink)
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Can someone clarify what's the difference between Sec USD and Reg USD on statements? I have traded ICE Canola futures and profit appeared as amount placed on Sec USD 'account'

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  #6 (permalink)
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tomas262 View Post
Can someone clarify what's the difference between Sec USD and Reg USD on statements? I have traded ICE Canola futures and profit appeared as amount placed on Sec USD 'account'

Something is missing here. As far as I know, Canola Futures (RS), are denominated in Canadian Dollars.
So somewhere along the way there was a P&L In CAD that has been converted to USD.
If you are trading in different denominations, there could be different balances created according to them.

Honestly, I would ask your FCM directly instead of having public interpretations.

Matt Z
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  #7 (permalink)
Trading for Fun
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mattz View Post
Something is missing here. As far as I know, Canola Futures (RS), are denominated in Canadian Dollars.
So somewhere along the way there was a P&L In CAD that has been converted to USD.
If you are trading in different denominations, there could be different balances created according to them.

Honestly, I would ask your FCM directly instead of having public interpretations.

Matt Z
Optimus Futures

There is a risk of loss in futures trading. Past performance is not indicative of future results.

I was just wondering about what these terms mean generally since I couldn't find more information on the net. And yes I did CAD -> USD conversion

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