FAQ
Who should trade at Generic?
Traders interested in deep discount futures and options trading that want to avoid the typical restrictions (i.e. minimum account balances and minimum volume requirements), as well as negotiating for rates with brokers or salespeople. Also, those searching for institutional trading infrastructure and technology. Generic Trade was specifically designed for experienced traders and for those working with experienced traders, mentors and/or trading schools, so they don’t have to pay for the resources that they do not require.
How can you offer such low commissions without all of the extra fees most firms charge?
Simple – no bells, no whistles, no brokers or salespeople and we maintain focus on the resources needed for the online futures and options trader (as listed above) and not unwanted education and trading intervention.
How many trades do I need to do to qualify for the 59¢ commission rate?
None, once you become a client, the 59¢ commission rate is automatically assigned to your account.
What account balance is needed to qualify for the 59¢ commission rate?
There is no minimum balance required to qualify for the 59¢ commission rate.
Do you offer an institutional trading infrastructure?
Yes. Whether you are an institution or an individual, your trades are routed using direct connections to the exchanges with multiple redundancies and you will have access to sophisticated futures and options platforms. Additionally, ALL trades are held at either the exchange servers or our servers which are co-located with the exchange, never on your computer. This removes the possibility of orders not being executed due to computer or network issues and also ensures quicker order execution since the order is already at the exchange data center when it is triggered.
Financial Security and Stability?
Generic Trade is registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Because of the financial safeguards created by the CFTC, the NFA and all U.S. futures exchanges, the assets which you maintain are well protected. The financial obligations are subject to continuous audit and enforcement by the regulatory agencies.
Due to the strict daily financial reporting requirements, substantial net capital requirements to hold customer funds on deposit, and the vigorous audits performed by the NFA, your funds on deposit with a United States FCM are well protected. Read more about security and stability.
How do I open an account?
We make this process as easy as possible, just click here and you can have a completed application in 5 minutes!
What types of accounts are offered?
Most account types may be opened, including Individual, Joint, Partnership, Corporate, Trust and IRA
How do I fund the account?
You may transfer funds by wire, ACH deposit or transfer positions and funds from another account…Funding Instructions.
What is your account minimum?
There is no minimum deposit required to open an account.
What are your trading margins?
We adhere to the minimum margins allowed by the exchanges and offer aggressive margins for day trading.
I have Mac OS and an iPhone; can I use any of your platforms?
Yes. Unlike most trading platforms available, our full suite of platforms (Generic Trader Desktop, Generic Trader Online and Generic Trader Mobile) may be used with a Mac operating system and there is a dedicated application for the iPhone. Sign up for a free $50,000 demo account.
What if I need trading support at 3 am?
No problem, we offer 24 hour technical and trading support by phone .
Do you accept accounts from outside of the United States?
Generic Trade is a global brokerage firm and as such we accept accounts from most countries.
Get Started Now!
Try out our technology for free or open an account and start trading.
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