What are the good bokers for US Clients that offer futures trading that don’t require a high minimum account deposit. For example, TD Ameritrade requires $25K. That’s really high if you are trading E-minis.
Margin requirements on micro e-mini is like $1.2k ? Most other micro/mini contracts are less than that.
Yes you are right. I forgot the $25K minimum is for Bitcoin Futures. And Bitcoin Micros are coming out in May (May 3 supposedly.)
I wonder if that will help push prices up as there are a lot of investors out there that don’t want to switch brokers that don’t want to jump into the Crypto pool with a full size contract. (Like me)
-If BTC goes up, part of the rise will be attributed to exactly that. (More people piling in).
-If BTC goes down, part of the decline will attributed to exactly that. (Brokers spoofing the game and taking your money)
Nothing about trading is linear, and, 99% of people would be better off if they stopped trying to approach it like a hard-science, and more like an art.
@ForexUnlimited There’s definitely not as many underlying fundamentals to base your decisions on compared to other instruments. So what you are referring to as “an art” I refer to as “gambling.” Yes all investing is a gamble, but Crypto is the closest to going to the Casino in my mind. Which is fine as long as the investor has the risk tolerance. The basic rule regarding gambling is don’t take more money to the casino with you than you are willing to lose. Gambling is essentially a form of entertainment, not investing (although some people don’t treat it that way). You need to be able to get some enjoyment out of the risk taking aspect of gambling without ending up going into a deep depression for the rest of the night if you lose it all. That’s a hard feat for many people.
A lots of friends and family are asking me about crypto since it’s now in the news so much and I’m the “IT Guy” in the family that is supposed to understand all this stuff. I say, just keep with your basic sound investment strategy, that is evaluate your time horizon and risk tolerance and decide what portion of your portfolio you are willing to potentially lose and invest no more than that in Crypto.
Turkey Central Bank just recently banned crypto payments and supposedly 2% of the accounts own 95% of the crypto. But with Brokers like Goldman Sachs and Morgan Stanley planning to offer (not currently offering) crypto to their clients. Hopefully that will help lessen the risk one large holder or group of holders can have an outsized impact on a relatively illiquid market. There’s a great article about all this that came out on Bloomberg this weekend titled “Why Did Bitcoin Tumble and What Is the Outlook for Prices?”
Sorry, probably should have started another thread for the content of this reply.