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Daniels Trading

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Frequently Asked Questions

Opening or Funding Your Account

Accessing Your Account

General Website Questions

Opening or Funding Your Account

What are your margin requirements?

We adhere to the minimums set by the exchanges, but they can change at any time, without notice, if market conditions warrant. You can view contract margins for GAIN Capital and RJ O’Brien on the following page: https://www.danielstrading.com/trading-resources/margin-requirements/

What is your minimum account size?

We typically require $2,000 to open an account. However, account size can vary and depends on what your objectives are and what markets you plan to trade – some require more capital than others to give you more opportunities and options. You should discuss your trading objectives with a licensed broker who will then be able to provide you more information about minimum requirements.

What are your commission rates?

If you’re looking for the cheapest rate on the street, you’re at the wrong shop. Our commission rates are typically higher than discount brokers because we believe we provide a far higher standard of service and support to our clients. At Daniels Trading, we think value is defined by much more than price alone. If you agree, we should talk.

Can residents of Canada open an account with Daniels Trading?

We can no longer open any Canadian accounts through our clearing firms, GAIN Capital and RJ O’Brien.

How do I open an account?

You can open an account by applying online or downloading the application forms. You can start the online application or download the application forms here: https://www.danielstrading.com/accounts/open-account

Can I open more than one futures account?

Yes, sub-accounts may be established at both GAIN Capital and RJ O’Brien.

If you wish to open the same type of account under the same name, you are required to fill out a Sub-Account Declaration Form for GAIN or Related Account Authorization Form for RJ O’Brien. If you wish to open different types of accounts (e.g. Individual and Joint account), you are required to fill out a new application for each account.

GAIN Capital allows this as long as they are the same type of account (e.g. two Individual accounts). It will be under the same username and password for login. In the platform, you will be able to toggle between different futures accounts, as well as FX accounts.

RJ O’Brien does not currently allow this.

What information do I need to provide to complete an application?

All applicants must provide basic identifying information such as name, date of birth, permanent address and, if applicable, valid Social Security or tax ID number. Applicants are also required to provide details of their financial condition and investment experience, such as annual income, total and liquid net worth, source of net worth and funds, and years of trading experience in each asset class.

For international clients, a valid passport and address verification dated within the last 60 days are required. Acceptable forms of address verification include utility bills or bank statements.

Depending on the account type and information provided the FCM may request additional information or documents to be provided.

How long does it take to open an account?

We can open most accounts within 24 hours on business days once we receive all account documents. After your application is approved, the account will be opened shortly after depositing funds.

How can I fund my account?

Acceptable methods of payment include: bank wire, checks, and transfers. We do not accept money orders.

Where are my funds held?

Account balances are held in segregated funds at the bank of the clearing firm at which you opened your account.

Are my funds insured or protected?

The safety of customer funds is very important to Daniels Trading. Through our FCMs, all futures customer deposits are kept in segregated bank accounts that are designated for the exclusive benefit of our customers.

This customer segregation protection is a core principle of the futures industry and a principle that Daniels Trading strongly believes. By properly segregating customer assets, the assets are available to be returned to the customer should the occurrence of a distress event by Daniels Trading or the FCM or clearing firm.

For more information regarding customer protection, please click on the CFTC link below: https://www.cftc.gov/IndustryOversight/Intermediaries/FCMs/fcmsegregationfunds

For more information regarding our clearing firms, please click on the links below:

How do I withdraw funds from my account?

To request funds from your account, please contact your Daniels Trading broker. Please note the following fees for withdrawals:

  • Check Requests – Free
  • Overnight Check Requests – $15
  • Domestic Wire Transfers – $25
  • Foreign Wire Transfers – $30

Accessing Your Account

How do I turn on market data for my GAIN account?

To be entitled to market data you must register for the subscriptions of your choosing in the account portal. Log in by clicking the first link. The second link contains instructions to switch on market data.

How can I change my password to my live account?

I am having issues with my platform, who can I contact?

Our brokers are the first line of support when it comes to technical issues of our platform. You can contact your Daniels Trading broker directly or call a dt support professional at 800.800.3840. You may also call GAIN Capital’s Technical Support line at 800.920.5808 Option 4.

What if I need to place a trade overnight?

You can reach the main order desk for the associated clearing firm below:

  • GAIN: +1.312.706.7272 / 877.456.3636 Option 1
  • RJO: +1.312.373.5318

General Website Questions

Do you offer simulated trading?

Yes, we offer a range of futures trading platforms available for a demo. Explore our list of Trading Software choices:

Can I use a broker and an online trading platform?

Yes, we do offer self-directed service packages that allow you to have access to both a broker and an online trading platform. Tell your broker the ideal service level you want.

Do you offer trading advice?

We offer a variety of trading advice options, including expert advice from our professional dt brokers and third-party trading educators. Regardless of the markets you trade or the strategies you use, we have resources that can complement your trading ideas.

What are the fees for the dt Pro trading platform?

The dt Pro platform does not have software fees. Clients will have free unlimited access with an open account. Clients will also receive a permanent Demo account if they maintain the $2,000 minimum requirement.

What are the data fees for the dt Pro trading platform?

The data fees for the exchanges are as follows:

  • CBOT
  • CME
  • NYMEX
  • COMEX
    $5 /mo each OR $15 /mo for all
  • ICE
    $110 /mo

What is the liquidation fee? When and why is this fee charged?

If the Equity to Margin ratio (NLV/Initial Margin) in your account drops below 5% or $500.00, whichever comes first, Daniels Trading reserves the right to liquidate open positions. In the event that the positions in your account are required to be liquidated by your broker due to inaction on your part, Daniels Trading will charge a $50 per contract liquidation fee. You are responsible for monitoring your positions and are financially responsible for any losses generated by open positions. This fee is applicable to GAIN Capital Futures accounts only.

What is the inactivity fee? How is an account determined to be inactive?

Daniels Trading reserves the right to charge a monthly inactivity fee to all customer accounts that have not traded or held positions in the prior three months. Exceptions to this fee will be accounts that are designated as hedge accounts or accounts that are related to other accounts that have traded or held positions during the same three month period. Please note that this may be in addition to an inactivity fee charged by the Futures Commission Merchant that carries your account.