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General Information |
| Brokerage name: Lind-Waldock
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| Minimum account size: $3000-$5000
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| Base commission rates: $20-$30
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Brief explanation of margin rates, if applicable:
N/A
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| This brokerage has been in business for: 25-40 years
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| Primary type of broker: Futures
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Brief description of services offered:
Lind-Waldock is the world's largest discount futures brokerage firm, which markets to individual traders and institutions. We offer five types of brokerage services for commodity markets: Self-directed (Lind-Waldock), Broker Assisted (Lind Plus), Managed Accounts (Lind Managed Accounts), Systems Trading (LindSystems), and forex trading (LindFX). In addition, LindConnect is Lind-Waldock's online order entry and account management system that features parked orders, fill notification, marked-to-market account status, real-time snapshot quotes, charts, news, weather, and more. Through Lind-Waldock, traders can trade foreign exchange, futures, and options contracts.
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Account Information
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Types of trading accounts offered:
| Full Service
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On-Line Full Service
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Premium Service
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On-Line Discount Broker
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| Customers online account information is updated: Up to the minute
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Types of trades offerered:
| Options
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Futures
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Cash markets
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Indices
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| Other trade types: N/A
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Types of quotes offered to customers:
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Execution methods offered:
| Online Broker(trade desk)
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Broker
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Exchanges covered:
| CBOT-Chicago Board of Trade
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CME-Chicago Mercantile Exchange
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CSCE-Coffee Sugar & Cocoa Exchange, Inc.
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MidAm-Mid-America Commodity Exchange
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| Minneapolis Grain Exchange
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NYCE-New York Cotton Exchange
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NYMEX & COMEX-New York Mercantile Exchange
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| Setup or initial costs to set up an account: Depends on type of account
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Features
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Types of services offered to customers:
| Technical Analysis
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Fundamental Analysis
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Basic -charts & graphs
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Advanced- charts & graphs (technical indicators, ability to change parameters, etc.)
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| Trading software- charts & graphs (create trading systems, scan and sort based on technical criteria)
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Head line news
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Wireless (quotes, alerts, execution, etc.)
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Ways customers can access their trading account:
| Internet
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Telephone
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Broker
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Mail
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| Allow stop, limit, and stop limit orders? Yes
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| Charge extra for stop, limit, and stop limit orders: No
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| Offer 24 hour customer support: Yes
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| Offer tax planning advice: No
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Additional Comments
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Special features included in the service are:
Lind-Waldock offers an online order entry and account management system (LindConnect) that allows customers to place orders directly to the trading floor or Globex without having to stop anywhere. We have a wireless order entry system (LindAnywhere) that lets users place orders and get quotes wirelessly.
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This broker's service is better than the competition in these areas:
We have built one of the best floor operations in the business. Over 65 trading desks, many within arm's reach of major trading pits, staffed by over 300 trading floor personnel. We flash fill for up to 90% of market orders. Our order placment services, including both to the floor and our online services, are constantly being updated. We were the first broker to offer Handheld order placement computer devices in some of the New York markets- silver, copper, and gold. Our commission rates are up to 80% less than full-priced brokerage firms.
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Types of security precautions taken for customers:
Lind-Waldock is a clearing member of all the major U.S. exchanges. Lind-Waldock does not engage in proprietary trading.
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Communications during systems failures has been assured through:
We have several back ups in a system failure: we have backup electrical generators, backup computer capabilities and we have more than 400 desk and floor personnel available to operate around the clock. LindConnect, our online order entry and account management system also provides timely information on system failure procedures.
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The major plans for upgrading the current level of trading service are as follows:
We are in the process of expanding our handheld computer technology in the New York rings. We are continuously upgrading LindConnect, our online order entry system.
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