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FAQ  

How much do I pay in commissions to place a round-turn trade?

Commissions charged to your account vary and depend on your account size and the average number of trades you place per month. The more funds you have in your account and the more you trade, the less you pay in commissions per trade.

Do you charge a call-in fee?

No, we do not charge our clients for calling in to use our Futures & Options voice-brokered services.

How long can I practice online-trading with your trading platform?

You can use it for up to two (2) weeks.

Are demo and live-trading account quotes the same, or do they vary?

The same data feeds (i.e. Live Quotes) run on both types of accounts.

How do I sign-up for a demo account?

You first sign-up on Broker Junction's opening webpage, providing your name, phone and e-mail. We will then e-mail your username and password to you. Then, you download the platform, go to "File" and then "Login" and enter the username and password we provided you to run the demo account for 14-days free of charge.

How stable are your trading platforms?

Our trading platforms are rather solid. If you experience connectivity issues we suggest you check your PC and router as well. In case of an emergency, we suggest you call in to place your trade via Broker Junction's order desk.

What are your office/opening hours?

We are at your service from Sunday 5:00 pm Eastern Standard Time (EST) through Friday 5:00 pm.

Can I trade stocks at Broker Junction?

No. We offer Forex, Futures and Options trading, but not stock-trading.

Can I trade Forex and Futures from one platform?

Yes, if you select idealer! or OEC Trader as your trading platform. You would need to open two separate accounts however.

Is Broker Junction, Series L.L.C. a regulated Broker?

Yes. We are registered with the Commodities Futures Trading Commission (CFTC). We are also members of the National Futures Association (NFA-ID 0357061). To find out more information on all NFA members including Commodity Trading Advisors (CTAs) and Brokers, please call the NFA at 1.888.366.6321, or visit NFA's website at - Use the “Broker/Firm Information” section in the upper right-hand side to check any NFA members' registration status, history and, disciplinary information.

How long has Broker Junction been in business?

Broker Junction, Series L.L.C. is a Delaware registered company. It was incorporated in March of 2005.

What is the minimum account size for Futures & Options trading at Broker Junction?

The minimum account size for Futures & Options accounts is $2500.

Is your online account opening application secure?

Yes it is. All information obtained from clients is kept confidential at Broker Junction. Please view our privacy policy for more information.

Do I need to submit any other documents to open an account with Broker Junction?

Yes, you do. By law all brokers are required to obtain at a minimum: 1) Copy of client's photo ID, 2) Latest utility bill carrying client's name and residential address for verification purposes, 3) Power of attorney signed by the client, if the client has decided to have someone else trade for for him/her/it, be that someone a professional money manager like a Commodity Trading Advisor (CTA) or Commodity Pool Operator (CPO), a friend or a relative.

How long does the account opening process take?

It really depends on how long it takes you to submit all needed documents: 1) Broker Junction's account opening document, 1) Copy of client's photo ID, 2) Latest utility bill carrying client's name and residential address for verification purposes, 3) Power of attorney signed by the client, if the client has decided to have someone else trade for for him/her/it. Once we receive all required documents from clients, the account should be open within 24 hours.

When can I fund my account?

Upon approval of your account opening application you can submit your funds via check or wire. We will send you an e-mail with all the information you need to fund your account.

Will Broker Junction hold my funds?

Broker Junction does not hold your hold or safeguard your funds. The Futures Commission Merchant does.

Are my funds insured by the Federal Deposit Insurance Company (FDIC)?

Funds submitted by you are NOT insured by the Federal Deposit Insurance Company, nor the clearing broker holding and safeguarding your funds.

What are your account funding methods?

You can send in a check or you may wire your funds. We do not accept credit cards for account funding purposes.

What are your fund withdrawal procedures?

Please go to "Client Services" and fill our our Withdrawal request form. Let us know how you wish to receive your funds, i.e. via wire transfer or a check made out to you and issued by designated clearing broker, safekeeping your funds.

Do you open Individual Retirement Accounts (IRA)?

Yes, we offer IRA accounts. Please contact Customer Service for assistance.

Is there a wire fee?

Yes, there is fee charged for all wires at the time you fund your account, as well as when you withdraw your funds. It is $20 for domestic wires and $40 for international wires.

Are there any charges associated with check withdrawal requests?

No fees are charged for check withdrawal (or funding) requests.

Can I fund my account in Euros?

Yes, funds can be wired in USD or EUR.

Do you accept cashier's checks?

No, we do not accept cashier's checks.

Is there a fee to have you close my account?

No, there is not! Only standard wiring fees apply. For domestic wires $20 and $40 for international wires.

Can I lose more than I initially funded my account with?

Yes, you can. We have risk management measures in place to prevent that from occurring and our clearing brokers have auto-liquidation systems designed to serve the same purpose. In fast markets caused by unforeseen disasters however, anything can happen, including the loss of more funds than you initially transferred into your trading account.

Can I instruct you to send my funds to a person other than myself?

No, you can not. Doing so could be regarded as "Money Laundering" by the authorities. We have Anti-Money-Laundering procedures in place to prevent just that. Your account with Broker Junction is a pure trading account, not a checking account.

Do I need to keep a minimum amount in my account for it to remain open?

Yes, you need to keep a minimum of $200 in your trading account for it to remain open.

How often do I receive my account statement?

You will receive your account statement daily showing all trades from the previous day via e-mail or via US Postal Service, if you prefer to receive your statements in hard-copy format. Note: Statements delivered to you via e-mail come free of charge, while statements delivered to you in hard-copy format come for a fee.

Can I continue trading once my account balance is less than $200?

No, you can not. We need you to send in additional funds to continue trading.

Do you offer voice-brokered services?

Yes, we do. Our trading desk is ready to place your trades 24 hours a day (from Sunday 6:30 pm Eastern Standard Time (EST) through Friday 5:00 pm).

Do you accept block trades or bunched orders?

Yes we do. You can place simultaneous trades in multiple accounts. Block trading or bunched orders are usually placed by professional money managers like Commodity Trading Advisor's or Commodity Pool Operators.

Do you allow scalping?

Yes, we do.

Do your trading platforms have charting capabilities?

Yes, all trading platforms offered at Broker Junction have charting capabilities.
 
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