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- Broker Assisted
YOU MAY ALSO VIEW OUR MANAGED FUTURES
FAQs BY CLICKING HERE.
Welcome to our Frequently
Asked Questions section for Broker-Assisted Trading. If you have
any questions that are not displayed below, do not hesitate to write
us at info@tigerfinancial.com.
We'll be glad to answer any questions you might have.
1.
Is it true that futures and options trading is very risky?
2. Why choose TIGER FINANCIAL?
3. What instruments or trading vehicles is TIGER
FINANCIAL licensed to trade?
4. What is your minimum account size?
5. Who is your clearing firm? Are my funds secure?
6. Can I transfer an existing account?
7. What account types do you accept?
8. What steps are necessary to open an account?
9. What if I want to begin trading today? Is
it possible?
10. When and how will I receive my account statements?
11. Can I get my statements emailed to me or access
my account online?
12. What are the advantages of Broker-assisted Trading?
13. Can I open an account with TIGER
FINANCIAL if I am a resident of a foreign country?
14. Will I receive annual statements?
1.
Is it true that futures and options trading is very risky?
Yes! Futures and Options are very RISKY primarily because of the amount of leverage available to futures traders. Many investors who trade for themselves or use the services of a broker are not completely clear how leverage works, or the increased risk exposure that comes with increased leverage. That is why it makes sense when trading futures and options to use licenced brokers who follow the markets on a full-time basis and know proper ways of placing trades and keeping their clients posted. Furthermore, almost all of our trading strategies are based on buying options or debit spreads. Using option purchasing strategies means you will never have to experience a margin call. It also means that the maximum amount of money you can lose when purchasing an option is the total amount you have invested, that is the premium, commissions & fees. This is in contrast to trading strategies involving futures or selling naked options, where the potential losses are unlimited. This means that you can lose more than you have in your account. While you can still lose your entire investment when purchasing options, you cannot lose more than that. There are no forced liquidations or margin calls when purchasing options or options spreads.
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2. Why choose TIGER
FINANCIAL?
TIGER FINANCIAL has been in this business since 1998. During this time we have acquired experience that we place at the disposal of every client and prospect that we encounter. TIGER FINANCIAL has professional Series 3 licensed brokers that provide a high level of customer service. At TIGER FINANCIAL, we believe that our business model is customer-centric. No broker can predict what will happen in the marketplace on any given day, but by being honest, ethical and professional, we can provide a high level of service. We have a wide range of products and services to offer, and look forward to offering them to all suitable investors that appreciate our dedication and professionalism as their commodity brokerage firm of choice.
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3. What instruments
or trading vehicles is TIGER FINANCIAL licensed to trade?
Our brokers here at TIGER FINANCIAL are licensed to trade futures and options on futures, including but not limited to: energies, currencies, grains, livestock, bonds, and notes.
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4. What is your
minimum account size?
There
is a $5,000 minimum account size for all broker-assisted trading
accounts. The initial required margin may be higher than the
minimum account size, depending on the futures contract and/or options
you wish to trade. For a list of current
margin requirements, click here.
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5. Who is your
clearing firm? Are my funds secure?
Our
accounts are cleared through Vision LP in New York, Puma Financial and Alaron in
Chicago. These two Futures Commission Merchants (FCMs) are
well managed and well capitalized in harmony with regulatory requirements.
All your funds are kept in segregated accounts. Your funds are never
co-mingled with other funds these FCMs use for operations and other
business financial uses. This industry is
intensely regulated - the direct regulator for both firms is the
National Futures Association ("NFA"). Although they
are not exchange members, these FCMs must meet identical Commodity
Futures Trading Commission ("CFTC") capital requirements
as does an exchange member FCM. Furthermore, due to stringent
surveillance, the NFA requires non-exchange member FCMs such as
Puma, Vision and Alaron to report to the NFA certain financial data each
business day before 12:00 PM. These FCMs are leading providers of
IB Services to many Introducing Brokers and counting.
Their personnel are trained professionals - and dedicated to providing
high-quality, eager-to-please customer service.
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6. Can I transfer
an existing account?
Absolutely!
Simply fill out the account transfer forms found in the application
booklet and return it along with your new account application.
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7. What account
types do you accept?
Currently
we accept IRAs, 401Ks, Keoghs, Retirement, Individual, Joint, Partnership,
Trust, Corporate, Custodial, Managed, Foreign, and Hedge accounts.
If you're looking for a specific account type that is not listed
here, please contact our office to see if it is available.
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8. What steps are
necessary to open an account?
We
currently have three ways you can complete your account paperwork:
-
You can fill out
our downloadable form where you simply print out the forms and
fill in the information or type the information directly into
the form. Then fax it or mail it to our office. Just follow
the "Open New Account"
link on the site to find all the forms required.
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You can fill out
our electronic form and submit it directly online. You can also
use the "Open New Account"
link on the site to go there.
-
You can request
a new account application be sent out to you via messenger with
an overnight return envelope by emailing us or calling us at
1-888-55-TIGER.
Call us at 1-888-55-TIGER
If you require assistance at any time while filling out the account
application forms. Our friendly staff members will be glad to help.
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9. What if I want
to begin trading today? Is it possible?
If
your new account paperwork is received early in the day, it is possible.
However, you must wire funds into your account to begin trading.
Generally, account numbers for newly received accounts are issued
within 24 to 72 hours of receipt of completed paperwork, assuming the
paperwork is correct and complete.
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10. When and how
will I receive my account statements?
You
will receive an account statement each time any activity occurs
on your account and at the end of each month. By default,
account statements are sent out via snail mail. You can setup
to receive your statements via email or via snail mail, whichever
is most convenient for you.
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11. Can I access
my account online?
Yes.
To set-up online account access, call our office at 1-888-55-TIGER
and let us know you want to access your account online!
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12. What are the
advantages of Broker-Assisted Trading?
A
Broker can...
-
keep you abreast of important market events
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provide you with real-time information, quotes, and news
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help you understand fundamental and technical analysis
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help you spot trading opportunities
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provide you with specific trade recommendations
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help you decide between futures or options
-
help you select which futures or options contract to trade
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help you understand market risk
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teach you about risk management
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help you with stop placement
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help you size your position
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help you understand inter-market relationships
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help you diversify your portfolio
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teach you which types of order are best in which types of situations
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place your trades, report your fills, and monitor your positions
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add market and trading experience to your trading
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help you maintain objectivity and discipline
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13. Can I open an account with TIGER FINANCIAL
if I am a resident of a foreign country?
Non-U.S. residents can
open an account by simply filling out the proper forms noted in
our "Open New Account"
section. However, TIGER FINANCIAL currently can not accommodate
clients in some provinces in Canada.
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14. Will I receive annual statements?
No, you will not receive annual statements. However,
you will be provided with a Form 1099 that gives a summary of interest
/ dividend income and proceeds from any sales executed through Success
Trade Securities. Form 1099s are generated and mailed to the account
address of record in January of the following year.
On this page you will find questions and answers relating to Broker
Assisted Trading. Go to the Managed
Futures FAQs if you wish to view specific answers related
to that subject.
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