Australian (ASX) Stock Market Forum

Looking for a reputable CBOT/CME Futures broker to trade currencies

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Hi All,

I am currently on the look out for a reputable CBOT/CME broker, preferably based in Australia.

Any suggestions?

Cheers,

Szymon
 
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Australian based or US? ( both you and the broker) a/c size
- One issue with Australian based brokers including IB AUS is client money safety
from that point of view I would choose a US broker who has both Equity and Futures in one a/c ,
advantage: money is swept back to SIPC protected a/c
but only if it is a above mentioned hybrid broker, an account with a US Futures olnly FCM (or via hundred of Introductory broker) does not enjoy the SIPC protection MF global saga for eample
and normally US futures brokers are cheaper than other countries
Unfortunately both Options express and IB now force AUS residents to open an account under ASIC jurisdiction!

Think or Swim won't let Australian residents open an account.
And please please dont compare OTC brokers who offer CFDs of one sort or other product with any of the Exchange traded futures brokers

So the bets bet for Client money protection is UK based futures brokers ( 100% UK regulated not EU based with a rep oversight in UK)

Sorry perhaps not a great help I realize but I thought I mention these points
 

tech/a

No Ordinary Duck
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I’ve Traded IB for 20 yrs
Funds in out multiple times
Each year never an issue even during 2009
 
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I’ve Traded IB for 20 yrs
Funds in out multiple times
Each year never an issue even during 2009
IB should be good , but why did they force AUS residents to move accounts under ASIC,
This step means less client money protection, NO SIPC protection anymore! and that is cold hard fact is it not!
 

tech/a

No Ordinary Duck
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Don’t know why
Don’t trade a lot through IB
Under 100k
For Super I use Macquarie.
 
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Thanks for your answers. I will check IB first and see if I can find out more about the ASIC, no SIPC protection policy. I did use them in the past and had troubles withdrawing a very large sum of money, they wanted additional proof of identity documents. Which is a good thing, but at the same time made me very nervous.

Cheers,

Szymon
 
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Thanks for that Apocalypto. I had a look at all the recommended brokers on this thread and at this stage I am going with IB.

Cheers,
Szymon
 
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