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General Information |
| Brokerage name: Ira Epstein & Company Futures
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| Minimum account size: $1000-$2000
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| Base commission rates: $9-$10
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Brief explanation of margin rates, if applicable:
We offer for self directed traders a round-turn commission of only $9.98 plus small NFA, Floor Brokerage and Exchange Fees.
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| This brokerage has been in business for: 15-20 years
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| Primary type of broker: Futures
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Brief description of services offered:
We provide 2 different levels of service. Self-directed accounts(discount} can trade either online via our website or over the telephone. Self directed accounts that trade over the internet can obtain commissions as low as $9.98 round turn plus applicable NFA,Exchange and Floor Brokerage fees. One-0n-One Retail Brokerage is also available. The cost of having your own broker explain the markets, terminology, make recommendations, send research reports nightly and much more is only $50 round turn plus applicable NFA, Exchange and Floor Brokerage Fees. Retail accounts have access to a custom website, FuturesPlus that specializes in combining the best of the Internet with Retail Brokerage. Try it out at www.FuturesPlus.com We provide access to Real Time News, Custom Quote Pages, and 2 different charting services to our clients.
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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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Phone (touch tone) Discount Broker
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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:
| Bonds
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Options
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Futures
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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:
| Electronic direct access trading(SOES, SNET and the ISLD ECN)
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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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KCBT-Kansas City Board of Trade
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MATIF-France's Futures & Options Exchange
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| MEFF-Spain's Futures & Options Exchange
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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: N/A
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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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Unique proprietary stories and news coverage
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Portfolio management
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| Allow naked option writing
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Ways customers can access their trading account:
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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: No
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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:
We will shortly begin taking orders through the telephone using voice recogniton software. Orders will be automatically screened for marked to the market account balances and routed direct to the trade floor without ever talking to anyone.
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This broker's service is better than the competition in these areas:
Charting Software. Both a complete stand-alone and web based package is available with 15 minute delayed data which saves the user over $330 per month. Real Time News can be accessed via our website and through our Internet Trading Software along with charts of all futures and stock markets. Clients can set up their own custom quote pages on the internet and through our telephone system. Both offer real time quotes. Access to over 50 daily trading pit commentaries recorded direct from different exchange trading floors.
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Types of security precautions taken for customers:
Encryted software.
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Communications during systems failures has been assured through:
Use of the Internet and backup telephone systems.
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The major plans for upgrading the current level of trading service are as follows:
We have just completed writing a totally new Charting Software package called IraChart. The package includes 2 ways to get charts. Both programs allow for plotting of Daily, Weekly and Perpetual Charts. Full customization is available. You can edit colors, chart type(line, bar, or candlestick charts), and over 26 editable technical studies. The online version even plots and updates your chart every 15 minutes. All studies and charts can be saved, easily recalled and plotted out. 1. You can obtain charts online via your web browser. We use an Active X program to do this. In the first quarter of 2000 we will launch voice activated trading using our telephone system called Commodity-Fone.
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