Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I'm trying to get my head around the products. I trade CME metals atm. If I want to trade LME Aluminium futures; what would be the most practical prompt date to trade?
Can you help answer these questions from other members on NexusFi?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,041 since Dec 2013
Thanks Given: 4,375
Thanks Received: 10,192
I don't think LME is a typical futures exchange. You can't log into your trading account and just trade LME futures. I think only members can trade on exchange, so I think you would have to be a customer of a member to do anything. Even then I'm not sure that it works like a traditional exchange.
Most traders on LME are considered to be institutional and need to be set up in a certain way upon qualifying.
We offer LME access through one of our FCMs but the client has to meet certain criteria.
I personally dont think LME futures are suitable for the avg. retail US based client.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Nobody in my office trades LME atm. I'm just doing some initial research.
I'm sure where I work will do any necessary paper work for me to access LME.
I'm guessing the 3 monthly contracts are the ones to trade? Interesting how prompt/expiry dates change everyday (always are 3 months from todays date, not fixed like a traditional futures contact).
Presumably one has to flatten before the close else they'll need to flatten using a less liquid prompt date on following days??
"IBKR LME OTC Futures1 provide clients (excluding residents of the US, Canada, Hong Kong, and Israel) synthetic access to the London Metal Exchange, a peer to peer exchange not generally available to nonmember investors."