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Asked a question 5 months ago

I've got 15 years markets experience but could not trade my own account due to very strict employer trading policy. I'm now out of work due to covid and wanted to set up a trading account with IB to trade full time. However, IB doesn't allow me to trade futures or options without a USD 50k min annual income. What do other full time futures / options traders do? Saxo is prohibitively expensive. Does anyone use Degiro for F&O? Or are CFDs a good alternative for futures (I'm less familiar with retail products)? Appreciate the advice (I'm UK based so can't trade on some of the US brokerages). Many thanks.

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In The Exchange you can ask and answer questions and share your experience with others!

Have a look at Tradestation, pretty cheap. Saxo options aren't too bad, 1.5USD per contract? But I think I might be on some frequent option trader, somehow managed to trick my broker into putting me on the plan.

 

I use both, but rarely trade options now, not sure if they require minimum income either. Good luck!

Sam ColtExChangemaker
"So called Business Engineer"

Not at all a full time option trader however I use both degiro and IB.

I use degiro and boy yes it is cheap and you notice it's cheap. therefore I don't trust them with all my money. 

- The good and badish part is that Degiro is execution-only 🤷‍♂️

-Option trading hours are eu hours so market closes at 6pm, yes also options on US stocks/ indexes.

-No premarket / aftermarket info or trade possibility. 

- They have moments where the platform malfunctions. 

IB has way more products you can trade. 
IB has many statistics and reports it automatically makes for you while at degiro you will have to calc all those yourself in excel/ other. If there is a corportate action like a div/or extra shares IB will let you know degiro won't by default you get the dividend. 

Also, I opened a broker account with IB when I was 18, and I had no income just the minimum amount of money needed to open an account. I don't think they do a lot of checking. Just try! 

 

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