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US futures trading query


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US futures trading query

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  #1 (permalink)
undermylaw
mumbai india
 
 
Posts: 6 since Jul 2022
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i am from india. i want to trade nasdaq and dow futures contract, are there any indians in this forum currently trading US futures or WTI crude futures??

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  #2 (permalink)
 xplorer 
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undermylaw View Post
i am from india. i want to trade nasdaq and dow futures contract, are there any indians in this forum currently trading US futures or WTI crude futures??

@AllSeeker or @iqgod might be able to help.

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  #3 (permalink)
 AllSeeker 
Legendary Pratik_4Clover
Mumbai, India
 
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Unfortunately I don't trade US markets or WTI crude futures.

US market is more mature market, it warrants more cost to trade, especially if you are outside US and also happen to have no local broker supporting it.

There was a rumor that some brokers were interested in US ETFs, but not sure if it started.

I find more opportunities and virtually zero cost in trading Indian markets (local), so I stick to it.


Some general rules I've heard from other people who do trade US markets tell me,
1. One needs to have a bank a/c in US bank and maintain a certain security deposit.
2. Or needs to have a way to open broker a/c through some other country like UAE.

Some people have other work around, but I don't have experience with it or have verified it myself so will not even mention.


However, think hard, do you really need to trade more mature, more expensive and more margin requiring market?

Regards

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  #4 (permalink)
 matthew28 
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Or, following on from AllSeeker's points above about a US account. You could try an online funding company (Topstep, Earn2Trade etc), as they can take worldwide clients for trading the US CME futures markets.
Obviously do your research on the companies, and their test fees might be very high in relation to typical Indian wages, but it might be another possible option.

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  #5 (permalink)
undermylaw
mumbai india
 
 
Posts: 6 since Jul 2022
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i have been trading crude oil and natural gas since last 5-6 months daily and i have made decent profits.

the issue is margin requirement, now crude oil margin requirement is above 2.5 lac rupees, it went to 3.25 lac rupees when crude was above 8000, in US we can trade same 100 barrel crude oil futures contract with just 100 dollar margin for intraday and the commisions and market data fee etc is manageable. not much difference in exchange fees

we can even trade nasdaq and dow jones futures micro contracts with just 100 dollar margin. u r right US market is mature, its not manipulated like nifty or banknifty , price action happen smoothly in US market.

u mentioned broker account through other country like UAE, can u please ask ur friend/that person who has used that way??? u can please DM me if its not appropriate to share in comment section.



AllSeeker View Post
Unfortunately I don't trade US markets or WTI crude futures.

US market is more mature market, it warrants more cost to trade, especially if you are outside US and also happen to have no local broker supporting it.

There was a rumor that some brokers were interested in US ETFs, but not sure if it started.

I find more opportunities and virtually zero cost in trading Indian markets (local), so I stick to it.


Some general rules I've heard from other people who do trade US markets tell me,
1. One needs to have a bank a/c in US bank and maintain a certain security deposit.
2. Or needs to have a way to open broker a/c through some other country like UAE.

Some people have other work around, but I don't have experience with it or have verified it myself so will not even mention.


However, think hard, do you really need to trade more mature, more expensive and more margin requiring market?

Regards


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  #6 (permalink)
undermylaw
mumbai india
 
 
Posts: 6 since Jul 2022
Thanks: 6 given, 3 received

thank u , i will explore those options.


matthew28 View Post
Or, following on from AllSeeker's points above about a US account. You could try an online funding company (Topstep, Earn2Trade etc), as they can take worldwide clients for trading the US CME futures markets.
Obviously do your research on the companies, and their test fees might be very high in relation to typical Indian wages, but it might be another possible option.


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  #7 (permalink)
 AllSeeker 
Legendary Pratik_4Clover
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undermylaw View Post
i have been trading crude oil and natural gas since last 5-6 months daily and i have made decent profits.

the issue is margin requirement, now crude oil margin requirement is above 2.5 lac rupees, it went to 3.25 lac rupees when crude was above 8000, in US we can trade same 100 barrel crude oil futures contract with just 100 dollar margin for intraday and the commisions and market data fee etc is manageable. not much difference in exchange fees

we can even trade nasdaq and dow jones futures micro contracts with just 100 dollar margin. u r right US market is mature, its not manipulated like nifty or banknifty , price action happen smoothly in US market.

u mentioned broker account through other country like UAE, can u please ask ur friend/that person who has used that way??? u can please DM me if its not appropriate to share in comment section.

Said person used to live in UAE briefly for work reasons before moving back after corona, he just operates his account online but his broker is in UAE. I've asked him previously, for this kind of thing you will have to be physically present in UAE.

I feel, what mathewes has suggested might be the best way for you.

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  #8 (permalink)
undermylaw
mumbai india
 
 
Posts: 6 since Jul 2022
Thanks: 6 given, 3 received

i also have a friend living in dubai... can u please ask broker's name to that person??



AllSeeker View Post
Said person used to live in UAE briefly for work reasons before moving back after corona, he just operates his account online but his broker is in UAE. I've asked him previously, for this kind of thing you will have to be physically present in UAE.

I feel, what mathewes has suggested might be the best way for you.


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  #9 (permalink)
 AllSeeker 
Legendary Pratik_4Clover
Mumbai, India
 
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undermylaw View Post
i also have a friend living in dubai... can u please ask broker's name to that person??

Sure, will ask and let you know.

Will also ask if its possible now to open account online and without being present there physically.

Edit: I've asked, following are the answers I got to the questions

1. Through which broker this account is
Ans: My account is through bank in UAE, however there are many brokers like Interactive broker present there

2. Need to be there physically or can this be opened online
Ans: This requires residential proof of there. It can't be done online.

3. Taxes and fees?
Ans: Income from this is 100% tax free. Fees depends.

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  #10 (permalink)
undermylaw
mumbai india
 
 
Posts: 6 since Jul 2022
Thanks: 6 given, 3 received


thank u for the info.... one final query, is the person NRI? and he is trading US futures, not CFDs?? right??



AllSeeker View Post
Sure, will ask and let you know.

Will also ask if its possible now to open account online and without being present there physically.

Edit: I've asked, following are the answers I got to the questions

1. Through which broker this account is
Ans: My account is through bank in UAE, however there are many brokers like Interactive broker present there

2. Need to be there physically or can this be opened online
Ans: This requires residential proof of there. It can't be done online.

3. Taxes and fees?
Ans: Income from this is 100% tax free. Fees depends.


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