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A good piece, worth reading if you are in the stage of looking for a commodity broker for your new trading account or NOT happy with your current one and considering switching…..
How do futures traders go about selecting a futures broker they can be happy with?
By John Thorpe Senior Broker with Cannon Trading
A futures trader should find considerable comfort in doing business with a firm that is sound from a regulatory perspective. The Futures trader should ask for the regulatory history of both the firm and the Individual Registered Representative.
There would be a few red flags: 1) The firm is too new to have a history; 2) Several financial settlements in the past are assessed to the Firm; 3) Disciplinary actions have been taken against an Individual Registered Representative.
Another aspect that a firm should exhibit to a potential futures trading client is the availability of the Individual Registered Representative or the trading staff. Is the individual available while you have market risk? Is the Trading desk available while the markets are open?