So I want to speculate on some oil futures (or gasoline), broker suggestions? I...

Methshot
Methshot

So I want to speculate on some oil futures (or gasoline), broker suggestions? I want to put ~5k-10k in my margin account.
Anyone trading futures?
Thanks in advance biz,

Other urls found in this thread:

apexfutures.com/trading-tools/margins/

Emberburn
Emberburn

Oh yea, USA of course.

viagrandad
viagrandad

Don't risk more than 1-2% of your money on a single trade.

Other than that, it's up to you to find strategies to beat the market.

StonedTime
StonedTime

I'm asking for a broker.

ZeroReborn
ZeroReborn

You do know that you don't trade futures on margin, right?

VisualMaster
VisualMaster

Fx choice offers WTI at 200x leverage for USA

GoogleCat
GoogleCat

interactive brokers.

Spamalot
Spamalot

yes you do

viagrandad
viagrandad

he wants to trade futures not CFDs via some dodgy bucket shop

SomethingNew
SomethingNew

oops

interactive brokers is a good call in general

though if he wants to trade actively then there are cheaper options... various introducing brokers out there for the bigger Chicago clearers

DeathDog
DeathDog

No, you don't.
Purchasing contracts comes out of your cash balance, not your buying power (margin).
That''s why they're called "non-marginable", genius.

BinaryMan
BinaryMan

TD Ameritrade

GoogleCat
GoogleCat

Fill up jerry cans at your local gas station

When price goes up, sell to motorists

Fucking overnight billionaire

New_Cliche
New_Cliche

Buying the gas with a credit card would be like buying it on margin

RavySnake
RavySnake

Op here I'm looking at apexfutures now. They sound pretty good. Can get some rediculious leverage here.
apexfutures.com/trading-tools/margins/
The account is a cash account you are buying the contracts on margin.

LuckyDusty
LuckyDusty

You see this a lot in the 3rd world.

I think in the 1st world you'd be arrested for not having a permit or someshit.

PurpleCharger
PurpleCharger

You do get arrested.
Still doesn't stop me.

Illusionz
Illusionz

Implying I'm going to put some random liquid in my car and burn up the cats or otherwise fuck myself.

DeathDog
DeathDog

buying the contracts on margin
Difference of terminology.
If you have $2,500, you can buy $5,000 of stock because of 2 to 1 leverage (on margin).
You cannot, however, buy a futures contract where $5,000 is the maintenance requirement (like gasoline futures). You would need the entire $5,000 in cash (no margin allowed).

Stark_Naked
Stark_Naked

Except it's initial margin requirement and maintenance margin requirement. Until settlement you never need the full cost of the contract. Cme themselves use the word margin.
Definition
Margin
a sum deposited with a broker to cover the risk of loss on a transaction or account.

Boy_vs_Girl
Boy_vs_Girl

Until settlement you never need the full cost of the contract
No shit.
You pay the maintenance requirement upfront, and get it back (+/- profit/loss) upon closing.

Gigastrength
Gigastrength

you keep skipping the word margin.

DeathDog
DeathDog

Right.
Good luck with your trading.

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