What futures contracts are available on accounts with less than $1000

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sopodo

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I have been learning how to trade the e-mini s&p 500 these past few months. I have been in the simulators, doing lot's of reading etc. Now I have contacted some brokers and unfortunately there's basically a minimum to open up an account with them. That can be anywhere from $2000 to $5000 depending on broker. I feel I am ready to trade the e-mini s&p 500. But I don't have the $2000 and even if I did I don't think I would want to fund an account with that kind of money. Even knowing that my trading plan can make me 80% returns, I still know that the more you have in your account when beginning the more chance you have of losing and I don't want to take that risk. So right now I would need to basically make $2000 dollars so I can trade the e-mini s&p 500. I am trying to look into some other futures contracts or forex. Such as mini and micro forex lots. I have also looked into e-mini and e-micro nifty 50 futures. I am looking to make scalp trades and would like to start with some product that can allow me to trade 1 contract or more with less than $500 or $750 in my account, is there any trading product that offers this?

Any help much appreciated
 
sopodo said:
I have been learning how to trade the e-mini s&p 500 these past few months. I have been in the simulators, doing lot's of reading etc. Now I have contacted some brokers and unfortunately there's basically a minimum to open up an account with them. That can be anywhere from $2000 to $5000 depending on broker. I feel I am ready to trade the e-mini s&p 500. But I don't have the $2000 and even if I did I don't think I would want to fund an account with that kind of money. Even knowing that my trading plan can make me 80% returns, I still know that the more you have in your account when beginning the more chance you have of losing and I don't want to take that risk. So right now I would need to basically make $2000 dollars so I can trade the e-mini s&p 500. I am trying to look into some other futures contracts or forex. Such as mini and micro forex lots. I have also looked into e-mini and e-micro nifty 50 futures. I am looking to make scalp trades and would like to start with some product that can allow me to trade 1 contract or more with less than $500 or $750 in my account, is there any trading product that offers this?

Any help much appreciated
Click to expand...

Sopodo, just because you have to deposit $2000 does not mean you have to use it. Just use an amount within your account once you are up and running.

I am not a fan of micro lots, as i dont see the point in them. If you dont have enough money at the moment, then carry on demo trading whilst you save a trading pot. This way you will have even more confidence when the time comes to go live.

This is a serious business, not a hobby and your comments suggest that you are not ready for the next step just yet.

Prove yourself and your methodology so there are no doubts, and THEN get stuck in.

Good luck:clover:
 
sopodo said:
I have been learning how to trade the e-mini s&p 500 these past few months. I have been in the simulators, doing lot's of reading etc. Now I have contacted some brokers and unfortunately there's basically a minimum to open up an account with them. That can be anywhere from $2000 to $5000 depending on broker. I feel I am ready to trade the e-mini s&p 500. But I don't have the $2000 and even if I did I don't think I would want to fund an account with that kind of money. Even knowing that my trading plan can make me 80% returns, I still know that the more you have in your account when beginning the more chance you have of losing and I don't want to take that risk. So right now I would need to basically make $2000 dollars so I can trade the e-mini s&p 500. I am trying to look into some other futures contracts or forex. Such as mini and micro forex lots. I have also looked into e-mini and e-micro nifty 50 futures. I am looking to make scalp trades and would like to start with some product that can allow me to trade 1 contract or more with less than $500 or $750 in my account, is there any trading product that offers this?

Any help much appreciated
Click to expand...

There is no minimum account size at Global Futures. You could trade the e mini S&P with a $1000 account as the margin requirement is $500, you could also trade several other contracts such as the Bund and Eurostoxx. Having said that I dont really recommend you do so. $1000 really isnt enough money to start trading with.
 
pboyles said:
There is no minimum account size at Global Futures. You could trade the e mini S&P with a $1000 account as the margin requirement is $500, you could also trade several other contracts such as the Bund and Eurostoxx. Having said that I dont really recommend you do so. $1000 really isnt enough money to start trading with.
Click to expand...

The CME have minimum margins well above what Global Futures require.

Global Futures also have a clause in there contract that says they needn't necessarily pass your trade to the exchange.

Coincidence ?
 
DionysusToast said:
The CME have minimum margins well above what Global Futures require.

Global Futures also have a clause in there contract that says they needn't necessarily pass your trade to the exchange.

Coincidence ?
Click to expand...

Any day trades within the main globex session are at the discretion of the broker (day trade margin), basically they have to insure against any mishaps. During less volatility this is no problem. In times of higher volatility they can and will alter the margin requirements accordingly.

Overnight margin must be adhered to CME rules, and therefore margin requirements are out of their hands.

Give Paul Gadi or Kirk Tamamian (at Global) a call and they explain the whole procedure.
 
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I use and recommend www.WindsorBrokers.com and www.FXPro.com who both have practically all futures, including metals, energies, commodities and indices with very low margins. I think oil, for example is less than $200 for 0.1 contracts and Windsor even has micro contracts.

Windsor will accept US clients but FXPro will not.
 
LOL !

I'll stick with IB - don't you guys worry about these cheap-a$$ brokers falling foul of their own margin requirements ? Especially those who's contract terms say they may not pass your trade to the market ?
 
Why the LOL?

I have over 500 clients who've been trading for years with these two and we've never had a problem.
 
I do not recommend to trade on a live account with such a small margin and with so little experience. I strongly advice you to spend more time paper trading for at least 6 months with decent results using your 'successful' system. Otherwise you blow your cute little account in minutes on a bad trade you can't get out.

And have a read on money management.

Just my 2 cents.


sopodo said:
I have been learning how to trade the e-mini s&p 500 these past few months. I have been in the simulators, doing lot's of reading etc. Now I have contacted some brokers and unfortunately there's basically a minimum to open up an account with them. That can be anywhere from $2000 to $5000 depending on broker. I feel I am ready to trade the e-mini s&p 500. But I don't have the $2000 and even if I did I don't think I would want to fund an account with that kind of money. Even knowing that my trading plan can make me 80% returns, I still know that the more you have in your account when beginning the more chance you have of losing and I don't want to take that risk. So right now I would need to basically make $2000 dollars so I can trade the e-mini s&p 500. I am trying to look into some other futures contracts or forex. Such as mini and micro forex lots. I have also looked into e-mini and e-micro nifty 50 futures. I am looking to make scalp trades and would like to start with some product that can allow me to trade 1 contract or more with less than $500 or $750 in my account, is there any trading product that offers this?

Any help much appreciated
Click to expand...
 
Some people just feel safer sticking to mainstream brokers that promote themselves extensively through many forms of media.

To think IB are any safer is just a personal opinion. But remember Bear Stearns!!!!!

Investors like Joe Lewis piled in!!

Nothing is totally safe, nothing.
 
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My broker allows a minimum account opening balance of $1000 and I trade the S&P500 eminis in minimum lots of $500 - I opened my account with just $1200
 
MarketMoverTrader said:
My broker allows a minimum account opening balance of $1000 and I trade the S&P500 eminis in minimum lots of $500 - I opened my account with just $1200
Click to expand...
i can understand , do you trade futures on emini sp500?
margin is 5000$ for emini sp500!
 
pboyles said:
There is no minimum account size at Global Futures. You could trade the e mini S&P with a $1000 account as the margin requirement is $500, you could also trade several other contracts such as the Bund and Eurostoxx. Having said that I dont really recommend you do so. $1000 really isnt enough money to start trading with.
Click to expand...
margin is 5000$ for emini sp500!
i check my futures broker. i have less 2000$ , i cant buy emini SP500.
anybody can explain me 500$ mentioned above?
 
Anyone who wants to trade an eMini S&P with less than $5,000 margin has not been around very long (or has a short memory). There is a reason for proper margins, and it's not just to annoy those with too little money to trade. It's to protect you fom owing the broker more than you have available to lose.

If you trade an eMini S&P it is perfectly feasible for a news event to force a $5,000 loss on you. Those of us who have been trading for 25 years or more will understand that (and remember it). If you can't afford to lose that much then don't trade it. Find a smaller futures contract to trade and get to know that market instead.

Past experience tells me that nobody in this position will take any notice of what I've just said, until BAM - too late - time to sell something or take a loan to pay the broker.......
 
kin1949 said:
try interactivebrokers
Click to expand...

I'm pretty sure you need much more than $1000 with IB, and from the questions on their application process it looked like they want only people with experience signing up (so I didn't go with them in the end :) .)
 
stasbz said:
margin is 5000$ for emini sp500!
i check my futures broker. i have less 2000$ , i cant buy emini SP500.
anybody can explain me 500$ mentioned above?
Click to expand...

Overnight margin is $5000 with any broker, but day margin depends on the broker. Many offer $500 or $1000. But some like IB need $2500.
 
stasbz said:
I prefer to trade on real exchange
Click to expand...

Yes, but if you can't afford to trade on a 'real' exchange, why let unfounded prejudices stop you making money? The fact is, I get a much better deal from these 'unreal' brokers and don't have to put up uneccessary capital. Most of the replies here are about being safe, worrying about the risks and not trading while those of us who've been trading futures with the brokers I mention have been happily trading for years.

Much of what people talk about is simply an excuse to not to actually try and become a successful futures trader. With a stop loss less than the margin requirement, the risk is minimal, particularly if you don't hold over the weekend and so avoid possible gap openings. There is no more risk to trading oil or any future than there is to trading Forex if you trade sensible contract sizes. My brokers allow 0.1 contracts and if you can't afford to lose $100 with a 100 pip stop loss, you shouldn't be trading...

Windsor is regulated by the UK's FSA, so is as safe as any broker can be.
 
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