ISO futures trading brokerage

Discussion in 'Financial Futures' started by Ironplates, Jul 18, 2022.

  1. i run a private fund for both crypto and equities and Interactive Brokers keeps rejecting my application. i went to them because they work with Ninja trader software.

    i am simply looking for a place to trade futures. i have a reg D and CPO exemption. i use ninja trader and would prefer to keep using it with the broker.

    any hints on getting interactive brokers to accept my app? the second time they rejected, i think it was because i was connected with the orignal rejection.

    nevertheless, im looking for a place to trade futures for my startup hedge fund.

    the account setup requirements are truly burdensome. literally took a month with Interactive
    and then they reject the application.
  2. which country are you located and
    Where your fund was incorporated? These are directly related to ib denying your account
  3. Robert Morse

    Robert Morse Sponsor

    Good morning Ironplates - I've been told by Wedbush Futures, our FCM, that we can't enable NT because NT does not allow other Introducing Brokers to offer it. In addition to selling, you the software, they wish to be your broker and collect commissions. If you are open to CQG, TT, CTS T4, Realtick, Rithmic, Sierra Charts or MultiCharts-send me an email and we can discuss your needs. I would also have to check on access to the ICE ISO futures contract.
  4. M.W.


    Email me, call me, I can't discuss anything in public ;-)
  5. Robert Morse

    Robert Morse Sponsor

    He has a pooled asset, why would he want to discuss the details of his business in public? Most members here do not even want to use their real name or picture let alone discuss real detail of a business they want to run. He is welcome to ask questions here. Maybe you should change your member name from M.W. to your real name, where you live, your account size, you monthly volume..............

    swinging tick, DevBru and SunTrader like this.
  6. M.W.


    I am sure if he has private questions that he finds his way to your email box. But you keep on offering to only discuss details over the phone or email in private when the entire purpose of the site is to SHARE information. That's your prerogative, but don't get annoyed when others point it out.

    For example, what's so hard to publicly share whether you as broker offer access to the ISO contract? Is this a state secret?

  7. Robert Morse

    Robert Morse Sponsor

    His question was about using NT, which we do not offer, as I responded. I said what other software we do offer, publicly. I have no customers trading that symbol. I would have to ask Wedbush Futures risk if they allow that type of symbol, I know they do not for those with delivery. I'm not going to contact them unless someone is interested in communicating with me, and we do not offer NT. I think if you look at my 6270+ posts, I spend the fast number of them helping traders asking questions, here. If it is a question that requires personal information or something compliance does not want me to discuss is public forum, it requires a call. Also, sometimes it requires a conversation to better help, and that takes too long to type with three fingers and lots of typos!

    traderjo likes this.
  8. M.W.


    "allow that symbol"? Either you offer access to that exchange or not. That's exactly the problem I find with the totally antiquated system of separate introducing brokers, futures commission merchants, settlement houses. There are a very limited amount of futures contracts that are offered by any of the exchanges. How difficult is it for a broker to offer full access to an exchange.

    You saying you won't "request" a symbol if a customer does not ask for it in a private conversation to me is a sign of the broken system you seemingly operate in. Why does Wedbush need to give permission? Why can't they, like many other brokers, allow trading in physically deliverable contracts up to a certain cutoff date prior to settlement? And because of this fragmented system you and others in the cog can always say "it's not me, it's them that cause the issue or limit us".

    I will continue to suggest public discourse, but I try to do it in a civil and respectful manner. And I never suggested you not helping lots of people. But at many other times the seemingly antiquated procedures at your firm seem to be more of a limitation than help.

    Last edited: Jul 19, 2022
  9. maxinger


    OP is probably a small player.

    A big player will probably seek solution in a different way.

    No point bashing the sponsor, broker.....
  10. M.W.


    IB is usually very forthcoming (to me at least) when it comes to explaining why something took longer or was rejected. But they always worked with me to get legitimate issues resolved. Maybe not always timely but I would believe they provided an explanation for the rejection if you asked.

    And when they provide access to an exchange then that is what it is. I asked why they don't offer Canadian tbills and government bonds and their explanation did make sense even though I did not like the answer.

    I favor brokers that are in the business of brokering transactions and providing access rather than forcing you into technology and software solutions. I recommend you find a broker that offers an API so you can hook up with whatever software platform that you desire, not what a broker prescribes to you.

    #10     Jul 19, 2022
    Ironplates likes this.