Emini index futures

[erichsiao167]

Hey guys..

Another post.. couldnt find any posts related to this one in the forum.

Im looking to start trading emini index futures through IB.. does anyone know, or having an inkling, what my minimum liquid asset value has to be before i can do so? IB has asked that i provide a financial statement detailing my liquid asset worth before i can be approved for futures trading. Thanks again.

[Nick1984]

I've heard $5k being flung around as the minimum required by IB. Check it out on their site though cause they'll know more than I do!

[erichsiao167]

thnks for the reply

yea, their account minimum is 5k..

however, there is another question when filling out their app asking your total liquid networth, which i assume is completely different. They have asked me to provide bank statements/ other brokerage accounts before i can be approved for futures. Needless to say, my liquid net worth isnt exactly what i put it down as- i dont know whether lowering the amount will result in me being denied futures trading access

[brownsfan019]

erich - Interesting, I haven't heard of a firm requesting info unless there was a serious red flag. The 2 questions I have are - 1) what is your age and 2) what did you put as your net worth?

My guess is that those 2 don't quite add up to them.

You have a choice now of admitting you fibbed and see what they do or time to try a new broker. I suggest Open ECry.

[cooter]

	Quote:	brownsfan019
	You have a choice now of admitting you fibbed and see what they do or time to try a new broker. I suggest Open ECry.

Note that OpenECry will run a credit check on you, as a matter of course. At least that's what my Equifax report showed.

Just an FYI...

[erichsiao167]

Im 22 years old and I listed my liquid networth as being 75k-100k.

	Quote:	brownsfan019
	erich - Interesting, I haven't heard of a firm requesting info unless there was a serious red flag. The 2 questions I have are - 1) what is your age and 2) what did you put as your net worth? My guess is that those 2 don't quite add up to them. You have a choice now of admitting you fibbed and see what they do or time to try a new broker. I suggest Open ECry.

[brownsfan019]

	Quote:	erichsiao167
	Im 22 years old and I listed my liquid networth as being 75k-100k.

There's the problem - they want evidence that a 22 yr old has that kind of LIQUID net worth. Key word being liquid. Even if you own a home and have some equity in it, that's not what they are looking for. I'm guessing that number was quite a stretch since you are posting here, so I would just try another broker to be honest. Right now your social is red flagged at IB. Just my suggestion.