Brokers that offer startup capital

E*trade offers unlimited commission-free online trading on most stocks and etfs for all clients.

Top-3 forex bonuses

5 Broker Deals That; ll Pay You to Open an Account, brokers that offer startup capital.

to qualify for the bonus, the new account must be funded with an opening balance of at least $100 within 45 days of account opening. The bonus will be deposited into the account within 30 days of the qualifying opening deposit.

5 broker deals that'll pay you to open an account

If you're looking for a new brokerage, consider opening your account with one of these institutions. They’ll pay you a new account bonus on certain account types if you meet minimum deposit requirements and keep your account open for a specified length of time. (all promotional data presented is accurate as of may 2020.)

Key takeaways

With discount brokers cutting client fees and offering $0 trading commissions, the competitive landscape has never been better for individual investors and savers.

In order to lure in new clients (or steal them from the competition), many financial firms offer financial incentives to those who qualify.

Here, we present just five such offers that include cash bonuses, free trading, and higher-than-market incentive rates on savings products.

Charles schwab: $100 bonus or 500 commission-free trades

Charles schwab is offering a $100 referral bonus with a $1,000 deposit into a new schwab brokerage account. You can also get 500 commission-free trades with a $100,000 deposit; this deal is good for two years following the opening of the new account.

Schwab also offers unlimited commission-free online trading on most stocks and etfs for all clients.

Motif investing: 3 free months

On offer now at motif investing is 3 free months of their motif BLUE unlimited automated investment service. The offer is good only for first-time customers and is available when the new brokerage account application is approved.

For subscriptions starting at $4.95 per month, motif BLUE provides automated investing and rebalancing, real-time quotes, unlimited trading, and more.

$100 bonus + 3.75% 40-month IRA CD at navy FCU

Navy federal credit union is offering a $100 bonus, and it's available nationwide. Investors taking advantage of this deal will also have access to an attractive CD rate of 3.75 percent APY when you open a new IRA CD.

To qualify for the bonus, the new account must be funded with an opening balance of at least $100 within 45 days of account opening. The bonus will be deposited into the account within 30 days of the qualifying opening deposit.

Ally invest $3,500 cash bonus + 90 days of commission-free trades

Available at ally is an ally invest $3,500 cash bonus offer, which offers a $3,500 cash bonus and commission-free trades for 90 days when you open a new ally invest account. To qualify, you must do the following:

1. Open a new self-directed trading account by january 31, 2019.

2. Fund your account within 60 days of account opening to earn a bonus based on your deposit amount:

$3,500 bonus + free trades for $2,000,000+ deposit or transfer

$2,500 bonus + free trades for $1,000,000+ deposit or transfer

$1,200 bonus + free trades for $500,000+ deposit or transfer

$600 bonus + free trades for $250,000+ deposit or transfer

$300 bonus + free trades for $100,000+ deposit or transfer

$200 bonus + free trades for $25,000+ deposit or transfer

$50 bonus + free trades for $10,000+ deposit or transfer

3. Receive the bonus cash credit to your account within 10 business days of meeting the promotional requirements.

4. Once the account is credited, the bonus and initial qualifying deposit are not available for withdrawal for 300 days after the requirements have been met.

Get up to 500 commission-free trades at E*TRADE, plus up to a $600 cash credit

If you decide to go with an E*TRADE account, there are a few things you'll need to know. First, you must fund your account within 60 days by transferring funds from an external source. Here's how it works:

Deposit at least $10,000 into your new account.

Get up to 500 commission-free trades for stocks or options within 60 days of funding your new trading account. This excludes options contract fees.

Your first 29 stock or options trades are charged $6.95 (plus $0.75 cents for each options contract), while trades after that are charged $4.95 (plus $0.50 per options contract) up to 500 trades.

Commissions are credited back to your account within a week of the settled trade.

E*TRADE does not compensate for any unused commission-free trades.

There is a separate commission schedule for stock plan account transactions.

E*TRADE makes credits for cash or securities within 60 days of the account open, depending on deposits to the account from external sources. Credits are made within a week after the 60-period. Here's how the credit is broken down:

Deposit $1,000,000+, receive $2,500 + commission-free trades

Deposit $500,000–$999,999, receive $1,200 + commission-free trades

Deposit $250,000–$499,999, receive $600 + commission-free trades

Deposit $100,000–$249,999, receive $300 + commission-free trades

Deposit $25,000–$99,999, receive $200 + commission-free trades

Deposit $10,000–$24,999, receive only commission-free trades

E*trade offers unlimited commission-free online trading on most stocks and etfs for all clients.

The bottom line

These promotions aren’t a good way to make a quick buck, and the bonuses are relatively small, often 1 percent or less of the amount you’re required to deposit. What's more, in many cases, taxes or commissions will erode the value of your bonus.

An account-opening bonus is, however, a good incentive to give a brokerage, bank or credit union a closer look if you were thinking about opening a new account anyway. Just make sure the account type you’re opening is the best option for your long-term needs, that you’ll still come out ahead after any fees and that you aren’t depositing money you might need in the near term.

Steps to starting up an independent broker dealer

If you want to become a broker-dealer, you can either join an existing firm or start your own company. If you choose to work for someone, you may be investing in a management team about which you know very little. But the payoff is that the workload is much lighter. But if you decide to go out on your own, be aware of what's involved. It's almost like investing in your own startup, which requires a lot of work, time, patience, and money. One benefit is that you know who's heading up the firm—you. So, if you aren't afraid of a lot of hard work—not to mention the time and money you'll have to sacrifice—you're probably ready to open your own broker-dealer firm. Keep reading to find out more about what's involved in achieving and growing a successful broker-dealer firm.

Key takeaways

Opening your own broker-dealer firm can be a rewarding and challenging venture.

Ask yourself whether you can afford to sacrifice the capital needed.

You'll need to demonstrate experience, line up principals, and file the necessary forms in order to be approved.

Benefits of going into the broker-dealer business

Just like any other venture, there are some obvious benefits to going into business for yourself as a broker-dealer. First, there's the absence of bureaucracy that comes with working for someone else. Bureaucracies often lead to more formal and rigid systems that leave little room for innovation, putting rules in place that companies must adhere to strictly. Going into business for yourself also gives you the freedom to do things your own way. And don't forget, there's also the potential for significant wealth. This last point will likely motivate most readers, but getting there won’t be easy. You need a scalable business, experienced management personnel able to lead and successfully navigate through difficult times, capital, and the correct licenses and memberships, including:

Licenses to sell investment products

Financial industry regulatory authority (FINRA) membership

Securities investor protection corporation (SIPC) membership

An approved form BD from the securities and exchange commission (SEC)

Before you get started

If you’re an independent contractor and still on the fence about branching off on your own, figure out how much you net annually. Take that answer and apply it to the human side of the equation. For example, is that enough capital to risk without altering your lifestyle? Whether you admit it or not, lifestyle plays a tremendous role. You’re still going to want that summer vacation, luxury car, and that nice house in a good school district, even if it requires the most dangerous word in the financial universe—debt.

People who live with minimal debt often are happier. If you already keep personal costs low and you’re doing well at your current broker-dealer, then it makes the transition much easier. The best approach, of course, is to build capital from your current position while also cutting personal costs. Your available capital will pile up quickly, which will lead to a less risky venture in your own broker-dealer. FINRA essentially wants to know that your capital will cover net capital requirements plus the first six months of expenses without any income. FINRA wants to keep the industry strong. Therefore, it only will approve applications backed by necessary capital and strong and experienced management.

To give you a more basic idea of startup expenses, consider this shortlist:

FINRA registration

State registration(s)

Consultants

Employees

Deposits to clearing firms

Although the list is short, the expenses can be overwhelming—especially unexpected ones. One key to success is to employ a management team that is good at keeping costs low without sacrificing growth potential. This is a fine line very few people have the ability to toe.

Not to deter you from this venture, but you should also know that most new broker-dealers lose money in their first year, with an average range between 10% and 20%. Keep in mind that it takes any business three years to be profitable. Therefore, this shouldn’t act as a deterrent. As long as you surround yourself with people who possess poise, leadership, and problem-solving skills, the odds of success may be in your favor. Just be sure to balance out the team with sales-oriented brokers and experienced management.

Getting started

First things first, you'll need money. How much you need to get started depends on how you intend to function. Just getting started requires capital of at least $50,000 to $100,000. If you intend your broker-dealer to trade for its own accounts, that amount increases to anywhere between $100,000 to $150,000

Experience also plays a big role. You'll be more successful if you've already worked as an independent contractor. Otherwise, the risk is elevated. Think about it, would you trust your money with someone who had little to no experience trading?

You’re going to need two principals and one financial operations principal—with one year of direct experience and two years of indirect experience—if you want to be approved. Principal officers must be registered with FINRA, take qualifying exams, and be fingerprinted.

After filing form BD via the central registration depository, the SEC has 45 days to decide if you’re approved. This form allows the SEC to review your personal and professional information and background, review information on your business partners and employees, and helps it determine if there are any conflicts of interest. The SEC wants to see high professional standards, fiscal responsibility, details on the types of securities that will be sold, the organizational and operational structure of the business, and a list of states where products will be sold. If you receive good news, your order granting registration will not be effective until you become a member of a self-regulatory organization (SRO).

Once approved, you must become a member of a self-regulatory organization (SRO) before your order granting registration goes into effect.

FINRA

The sheer volume of information can make things very confusing. Let’s back up a minute and take a look at what is required to become a member of FINRA:

Form BD

Forms U-4 and U-5 (used by broker-dealers to register with or withdraw their registration from the SEC, sros, and jurisdictions)

A comprehensive business plan

Copies of agreements with banks, clearing agents, and service bureaus

Sources of capital

A description of the supervisory system

Written supervisory procedures

Completion of an anti-money laundering (AML) program

A description of the firm’s continuing education program

The bottom line

All of this information can be overwhelming. FINRA has a reputation for ongoing requests for documentation and constant back-and-forth communications. However, if you get through the approval process and then plan your work and work your plan, the potential rewards for a successful broker-dealer are exceptionally high.

This startup teaches commercial brokers how to build financial empires

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(photo courtesy of getty images)

Real estate agents aren't often referred to as entrepreneurs. Instead, they are commonly reduced to the title of salesperson, negotiator or marketing expert. Yet, to be successful in the space, each of these independent enterprises must master the art of pitching products, brokering deals, securing financing and forecasting the market. Because most aren't formally trained to run financial businesses, nor is the full scope of their work properly contextualized, both buyers and sellers get caught in the matrix. This alternate reality is a land plagued by bad deals, improper valuations, and a residual effect that leaves everyone at a loss. In the landscape of commercial real estate, the wealth of opportunity shows why it's even more important for brokers to be equipped.

In new york city alone, an estimated $11.6 billion was spent on construction for commercial real estate in 2015, accounting for a projected 68.6 million square feet of new space in the city. This number surpassed a nearly two-decade high, as nearly 58 million square feet were added in 2007. Commercial construction spending in new york is on pace to exceed $15 billion by the end of 2016.

Morgan stanley recently reported that commercial construction spending in the U.S. Reached $405.21 billion annually. Despite economists expressing this number is expected to rise, the morgan stanley report also speaks to a potential overvaluation in the commercial real estate market, as business spending falls and consumer spending spikes. The drop in business spending is a direct result of stricter lending standards, with banks battling increased competition with the economy steadily strengthening. Amongst loan officers, 8.5 percent report much tighter guidelines for lending to medium and large firms.

Recognizing the and seeing the lack of knowledge in the space, one founder created an intensive training program to educates sellers and brokers about the intricacies of commercial real estate, with intentions to shift the paradigm and shape an industry of savvy entrepreneurs.

Commercial capital training group offers a 7-day training program that teaches aspiring loan brokers how to own commercial finance businesses. Students receive instruction from a decorated roster of industry experts, learning the essentials of lending and securing financing, marketing, generating leads, understanding agreements and scaling a business. The curriculum covers different types of financing within a variety of business segments. After participants complete the program, commercial capital provides a full-time support staff that communicates with graduates to help them achieve success.

I spoke with kris roglieri, CEO of commercial capital, about the mission behind his training program, the future of property financing and how he hopes to train a generation of real estate leaders to build sustainable empires.

What void or opportunity did you discover that inspired the idea behind commercial capital training group?

Kris roglieri: throughout the years, we have come across so many brokers that didn’t know what they were really doing. They were not formally educated or trained, which was apparent by the way they interacted with us. That’s when we noticed the need for a thorough training program was tremendous and there weren’t really any credible companies out there providing the right education and training in our industry. Brokers were not educated on how to properly package a deal, nor did they have enough understanding to comprehend their client’s needs. We knew that if we can create qualified and educated entrepreneurs and help small business owners navigate the vast waters of financing by help them obtain backing without all of the headaches, we would be pivotal in building up the small business that drive our economy. That’s what gave birth to commercial capital training group.

What are the core principles you teach entrepreneurs who are passionate about stepping into the financial space?

Kris roglieri: it would be two principles, and they’re the only things you really have to maintain if you want a career in this industry: integrity and reputation. As long as you conduct yourself and run your business with those key principles, then you’re set up for success. We also teach about proper etiquette when communicating with lenders and clients. We like to say that after all the numbers, proposals, and term sheets a broker will work on with a client, in the end, your helping people with a problem, and that problem is capital.

What have been some of the challenges or surprises you've encountered in the process of building commercial capital training group?

Kris roglieri: one of the struggles we’ve had to overcome is conveying what a day in the life of a commercial loan broker is like to people looking into our training. It’s rather hard to explain, and most potential students want to talk to somebody who has attended our training. Our solution was to invest heavily into video testimonials to capture real students of our program talking about their experiences during and after our program and what successes or challenges they have faced.

What lessons have you learned from running your other two financial companies that you've also used to shape commercial capital?

Kris roglieri: I believe in business you have to identify a void that needs to be filled or decipher what demands are not being met in a market. With my current two financing companies, I saw a niche in the alternative small business lending space and commercial real estate lending area - banks were terrible at fulfilling, and frankly did not approve. So, I came up with a product to capture that market share of client’s who were being denied by banks. I took this philosophy and applied it to commercial capital by recognizing a niche that needed to be filled. I also learned that customer service could make all the difference in the success or failure of a company. If you take care of your customers, it will translate into more sales.

Your training program covers a vast range of industries and product segments -- how do you structure the 7-day program to cover so much ground and properly prepare students to thrive in the market?

Kris roglieri: it is a great question and one that we get all the time from potential students. Over the course of 7 days, we cover high-level topics regarding the different types of financing and how they work. Days are combined with learning about the products, meeting the lenders who provide those products, and then having them explain how their product and company works to our students. All lunches are working breaks, and sometimes days run 10 hours long. We certainly don’t waste any time, but I think 7 full days is enough to get exposed to the industry, the modal and how to conduct and obtain business. By no means are you an expert when you leave our training facility. That is why we have a full-time support team that takes calls and emails from our students to insure that they are doing the right things and that they have a shoulder to lean on.

Considering the developments in crowdfunding sites, investor pairing platforms and new legislation like the JOBS act -- how are you preparing trainees for the future of financing?

Kris roglieri: there will be always online sites and platforms, we call them aggregators, that try to simplify the process of obtaining funding. They have certainly become more popular in the last 5 years. However, we don’t see these platforms as a threat to the industry of loan brokers. The platforms work great if indeed the client’s needs match with the platform’s underwriting guidelines. The problem with those sites is that there are a lot of instances where what the platform offers is not necessarily the best option, or even the right option for the client. I think there is still something to be said about having a real person to consult with and help with your financing needs, whereas a platform has limitations and of course no personal interaction. The idea of receiving capital from these platforms is only one option out of hundreds that a commercial loan broker can bring to the table to help businesses and real estate investors obtain capital.

I'm an award-winning content creator with a passion for adding my perspective to topics in music, media and entertainment. I've spearheaded campaigns and content for…

I'm an award-winning content creator with a passion for adding my perspective to topics in music, media and entertainment. I've spearheaded campaigns and content for brands like american honda motors, wells fargo, google, and magic johnson enterprises. I also worked closely alongside sean "diddy" combs to launch REVOLT media & TV as social media director, before shaping the network's voice as editorial director. I've notably covered many of the biggest stories and moments in music, while interviewing many of its biggest artists. I teach brand writing and content marketing for mediabistro, showing digital marketers how to tell impactful stories and build meaningful brands.

Startup lawyer

Should your startup hire a finder?

Raising capital is not easy. While startup entrepreneurs usually have a strong network of people within their own industry, many entrepreneurs lack contacts at venture capital firms and other angel groups. And even if the entrepreneur knows about such funding sources, it’s difficult to get solid intros to such people.

Sometimes startups will run into a person who offers them assistance raising capital. This person is called a “ finder.” the finder offers to help the startup find investors in exchange for a cash commission (usually in the 5-7% range) based on the amount raised through the finder. However, I’ve seen some pretty appalling finder commission structures, such as a 10% cash commission plus 10% warrant coverage.

My advice to your startup: don’t hire a finder or broker for your startup, unless you have a compelling reason to do so. And “we can’t find investors on our own” is not a compelling reason.

But if your startup is still considering using a finder to help raise capital, I strongly advise you to vet this person or group:

(1) how successful has the finder been raising capital for emerging companies like yours?

A lot of finders may have experience raising capital for companies with a much longer track record and developed balance sheet (and of course, revenue & profit). These types of capital raises usually involve different investment structures and investors with different risk-tolerances when compared to your startup’s capital raise. For example, your finder’s network of investors may prefer investing in secured-debt deals rather than in unsecured securities of a startup. Thus, make sure the finder — and the finder’s investor syndicate — are both a match to your startup.

(2) is the finder registered with FINRA and your state’s securities board?

Most likely, the finder offering to raise capital for your startup SHOULD be registered with FINRA (financial industry regulatory authority) and your state’s securities board. But the reality is, a tremendous amount of unregistered “brokers” (as defined by the SEC) are out there offering to raise capital for companies. FINRA offers an online broker check and so do most states.

Capital raising is hard, but finders are usually not life-savers for startups.

Brokers that offer startup capital

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- The difference M&A or business brokerage
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Buying a business or selling a business requires much time, hard work and preparation. Why go it alone? Capital business solutions’ team of business brokers has the knowledge and expertise to help you attain your goals while maximizing your profit in the shortest transaction time possible! Allow us to use our expertise to save you both time and money!

Needless to say we are extremely satisfied with the results. I am so pleased with capital business solutions.

I would gladly pay hundreds of dollars for capital business solutions services. Capital business solutions impressed me on multiple levels.

Capital business solutions is the most valuable business resource we have EVER EVER used.

Hightower plans to offer startup capital to breakaways

Hightower is looking to bring more liquidity to the market for entrepreneurial advisors by supplying startup capital.

The RIA platform provider will offer financing to new, qualifying advisor teams launching their own practices and affiliating with the firm.

Traditionally, little outside capital has been available to advisors looking to go independent; they had to fund the venture themselves, rely on their broker/dealer for financing, or take out loans from family and friends. A few investment banks—live oak bank is a popular one—offer financing to rias.

New hightower teams can use the capital to cover any costs associated with the launch of their businesses, and the amount of the loans will depend on each individual team’s needs, according to a hightower spokesperson.

The loans are structured for a term of five to seven years, with no prepayment penalty, the spokesperson said.

"this financing program allows us to fuel the growth of more teams looking to launch their own businesses,” said hightower CEO elliot weissbluth, in a statement. Hightower provided little information regarding the new offer beyond the statement, including whether the advisors would pay back the loan in cash or via equity in their new business. Hightower's business model has evolved, from providing back-office support to independent advisors for a fee to taking ownership of advisory firms.

Hightower is having a record year, with a total of 21 deals in the first half of 2017. The firm recently announced its acquisition of wealthtrust, an RIA with $6.4 billion in client assets, hightower's largest transaction to date. The firm’s assets are now approaching $50 billion, up 27 percent since the first of this year.

This startup teaches commercial brokers how to build financial empires

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(photo courtesy of getty images)

What void or opportunity did you discover that inspired the idea behind commercial capital training group?

What are the core principles you teach entrepreneurs who are passionate about stepping into the financial space?

What have been some of the challenges or surprises you've encountered in the process of building commercial capital training group?

What lessons have you learned from running your other two financial companies that you've also used to shape commercial capital?

Considering the developments in crowdfunding sites, investor pairing platforms and new legislation like the JOBS act -- how are you preparing trainees for the future of financing?

I'm an award-winning content creator with a passion for adding my perspective to topics in music, media and entertainment. I've spearheaded campaigns and content for…

Best futures brokers

Melissa brock

Contributor, benzinga

Want to jump straight to the answer? Ninjatrader is the preferred futures broker for most people.

Futures trading history is as simple as understanding the concept of farmers planting crops every spring, and then, every fall, farmers harvesting grain and locking in prices early in the season, rather than later. In fact, farmers were originally the ones who taught wall street how to trade futures. (no lie!)

In choosing a broker, serious futures traders must balance low commissions, intuitive platforms, excellent customer service and up-to-date research options. Traders also need charting and screening tools to guide decision making.

In a world where futures trading is already a high-risk endeavor, it’s even more of a risk if a platform is clunky, a trading app can’t keep up, or customer support has no idea what a fibonacci indicator is. Everything must tick along as smoothly as a rolex cellini tracks the seconds in a day.

Start with our guide to find an online futures brokers platform to make your trading experience seamless.

Best online futures brokers

Don’t waste your time searching for a futures broker on your own. Determine your top priorities, and use our list to find the best online futures broker for you. Here’s a preview of benzinga’s top picks:

Best for advanced traders: ninjatrader

Best membership: tradovate

Best for usability: tradestation

Best for low commissions: generic trade

Best for high volume traders: discount trading

Best for professional traders: interactive brokers

Best for active traders: lightspeed

Best mobile platform: TD ameritrade

Best for education: charles schwab

Best for more futures options: E*TRADE

Commissions

Account minimum

Best for

1. Ninjatrader

Ninjatrader has an amazing trading platform for those just beginning their trading careers as well as for advanced traders. Its extensive collection of technical analysis tools is perfect for beginners utilizing a demo account, and it even offers a 2-week free trial when you register.

If you want to use ninjatraders software, you can get it for free when you fund a brokerage account or you can lease the software. You will get access to charts, simulated trading, and market analysis, the essentials for futures trading, even if you get the software for free.

Ninjatrader won the 2016 true edge futures broker of the year gold award and has the only platform powerful enough to run the diversified trading system. In addition, ninjatrader offers extensive data feed options, flexible interface and free demonstration options.

The minimum opening balance is $400, and commissions start at $0.09. Futures traders can get the lowest ninjatrader commissions by acquiring a platform lifetime license. In addition, the margin requirement is $500 per contract.

Commissions

Account minimum

2. Tradovate

Are you an active futures trader? Look no further than tradovate. Tradovate offers a netflix-like approach to commission-free trading and cloud-based solutions. You’ll get an integrated experience you can carry seamlessly across any device whenever you want it.

Tradovate is the very 1st online futures and options brokerage to combine next-generation technology with flat rate membership pricing. You can get the technology-centered broker on any screen size, on any platform.

Tradovate delivers a seamless futures trading experience by offering:

1 app to fill all your needs

A pricing model that saves you money over the traditional commission model

Improves the customer experience

Gets rid of fragmentation (other offerings require you to go through a software provider, then find a brokerage, then find an FCM) — which adds costs

Commissions

Account minimum

Best for

Comprehensive trading platform and professional-grade tools

Wide range of tradable securities

Fully-operational mobile app

3. Tradestation

Tradestation offers 2 distinct account types: its basic TS GO account aimed at new trades and its more in-depth TS select account aimed at more advanced traders looking for a comprehensive set of tools and research options.

There’s no minimum account balance required to open a TS GO account. TS select accounts require a $2,000 minimum deposit.

Signing up for an account with tradestation is intuitive and simple. You’ll begin by choosing the type of account you want, entering a little personal information, answering a few questions about your experience level and agreeing to the company’s terms of service.

A tradestation representative will review your application and open your account. As soon as your account is open you can begin funding your account and making trades.

Tradestation excels in education. Though it was originally aimed at professional investors, tradestation now offers a wealth of education options that brand new traders can understand and use.

Commissions

Account minimum

Best for

4. Generic trade

Generic trade has some of the lowest commission fees of any futures traders at a maximum of $0.59 per trade. Generic trade prides themselves on transparency and keeps their prices lower than other futures brokers by eliminating the need for salespeople and brokers.

The firm believes modern traders already have such a wealth of information at their disposal they mainly need a firm to execute their trades at the lowest cost. It also doesn’t have minimum account balances and volume requirements, making it assessable to most traders.

Finally, generic trade boasts some of the lowest latency for executing trades due to advanced technical infrastructure. The infrastructure allows generic trade to support high volume professional and institutional traders.

Commissions

Account minimum

Best for

High volume / high frequency futures day traders

Futures investors looking for the lowest futures margins

Traders needing ultra-low commission rates

Traders looking for great customer service and fast account opening

5. Discount trading

Futures traders looking for volume discounts have plenty of options, but few make trading as simple and affordable as discount trading. For starters, discount trading doesn’t just offer affordable commissions. It has some of the cheapest trading fees of any futures broker currently on the market!

If you make only a single futures trade each month, your commission will be a mere 49 cents per side. However, if you’re an active trader flipping more than 50,000 contracts per month, your commission will be a measly 19 cents.

Additionally, discount trading offers a variety of trading platforms for investors of all skill levels. Among these platforms is firetip, a simple but effective trading platform that provides live quotes, market alerts, real-time news and a live chat feature for customer assistance.

While many brokers charge fees for streaming quotes and live data, firetip BASIC is available to discount trading clients for absolutely nothing. Discount trading offers something for everyone, from novice traders all the way up to the experts flipping S&P E-minis and soybean contracts. Also, demo accounts are available for firetip if you want to give the platform a test run 1st.

Pricing

Account minimum

Best for

Access to foreign markets

Detailed mobile app that makes trading simple

Wide range of available account types and tradable assets

6. Interactive brokers

Interactive brokers for futures trading offers outstanding, competitive fees. Cost is $0.85 for futures and futures options trading, overall, interactive brokers offers the lowest margin rates in the industry, between 1.91% to 1.41% (the lowest percentage is for clients with $1 million with interactive brokers). It offers a fully-configurable trading platform for knowledgeable traders with more than 50 order types.

IBKR futures pricing:

IBKR lite: $0.85 per contract

IBKR pro: $0.85 per contract; tiered volume discount available

As for tech offerings, interactive brokers features programmable hotkeys and customizable order types; watch lists can have up to 338 columns and are truly customizable. All devices, including iphone, ipad, apple watch and android smartphones and tablets are supported. Interactive brokers made our list for best brokerage for online stock trading.

Commissions

Account minimum

Best for

7. TD ameritrade

TD ameritrade requires a low account minimum at $1,500 but it’s $2.25 per contract, per side (plus exchange and regulatory fees). TD ameritrade’s day trade margin is 25% with a $15,000 minimum with virtual trading capabilities and over 60 futures products. With thinkorswim, there’s no question that entering and executing orders are fast, with many advanced features.

The thinkback feature permits users to backtest strategies and TD ameritrade’s free platform (thinkorswim), research and data are all excellent. The thinkback feature permits users to backtest strategies and TD ameritrade’s free platform (thinkorswim), research and data are all excellent.

With its 24/7 phone support and free seminars and online education, the technical and mobile options make TD ameritrade worth checking into. TD ameritrade made our list for best brokerage for online stock trading, and for beginners.

TD ameritrade does have high commissions that aren’t ideal for traders searching for a bargain.

Commissions

Account minimum

Best for

Frequent traders looking for volume discounts

Professionals who need a powerful platform: lightspeed’s level II, livevol X, and realtick pro

Intermediates who are looking to advance their trading knowledge and strategy

8. Lightspeed

Lightspeed trading offers volume discounts for frequent traders, low pay-per share commissions, direct access to ecns and exchanges, and traders are also allowed a free practice account.

It’s a reasonable $0.25 to $0.60 per contract with no base charge at lightspeed trading and a monthly software fee of $100 for lightspeed trader, $130 for sterling, $275 for realtick pro and $0 for webtrader.

Lightspeed trading is really only for traders who trade on daily basis and have at least $10,000 for the minimum opening balance.

Commissions

Account minimum

Best for

3 trading platforms perfectly in sync makes matching your platform to your skill level a snap

Excellent futures trading education for new traders

$0 account minimum means anyone can start trading

9. Charles schwab

Charles schwab’s name seems to be synonymous with the word “education,” and that’s no surprise once you land on schwab’s web page. After all, “investment advice” is a bold, clickable heading directly on the home page. If you’re a futures trader, schwab trading insights will help you, and there’s a plethora of opportunities to learn more on schwab’s active trader futures section.

The investment research opportunities through schwab are also excellent. Customers have access to free stock reports from S&P capital IQ, thomson reuters, credit suisse and more. You can also access schwab’s equity ratings, which cover approximately 3,000 U.S. Stocks and grade them on an A, B, C, D, and F scale.

1 strike against charles schwab is that the firm’s margin rates are notably high.

Commissions

Account minimum

Best for

10. E*TRADE

E*TRADE offers over 200 futures products, and that’s why we’ve put it in the category of myriad options available to investors. In addition, if you’d like to trade futures with E*TRADE, it will cost you $1.50 per contract. E*trade is no stranger to pro-level tools and top-notch platforms.

You’ll feel right at home with research capabilities, too: E*TRADE futures research center is powered by the CME group—1 of the world’s largest futures exchanges. Whether you’re into metals, currencies or more, E*TRADE can offer a multitude of options for you.

What matters most?

Ultimately, depending on the trader, the futures broker characteristic that matters to one trader may matter more or less to another. For example, each trader’s preference on a platform can vary widely. Not every trader will agree on what he or she would like to see on a broker’s platform. (remember, not every painter prefers the same paintbrush, and the same goes for individual traders. Some don’t need all the bells and whistles.)

Perhaps 1 thing that raises the most red flags are those pesky commissions and margin fees. It might be reckless to choose a broker just because it’s the cheapest, but, boy, is it easy to overpay. It’s important to figure out on the front end exactly how much money will eke out during each trade.

And finally, customer service can make or break an experience with that particular broker. Determine your personal priorities, and use our guide to find the best futures brokers platform for you.

Want to learn more? Check out benzinga’s guides on how to trade futures, how to buy oil futures and how to start online gold trading.

Summary & comparison: best online futures brokers

Quickly compare the best online futures brokers.

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