Where is FastBrokers located, and how long have you been in business?
We're located in Glendale, California, USA. We have been in business since 2005.
Which regulatory authority is your firm registered with?
We are registered as an Independent IB with the US Commodity Futures Trading Commission (CFTC), and we are a member of the National Futures Association (NFA ID: 0342002).
Are you a Market Maker, STP or an ECN Broker?
None of them. We are an Independent Introducing Broker (IIB), so we don't act as a clearing counterpart to your trades. We offer agency execution and direct market access (DMA) to electronic Futures an OTC FX via FIX standards.
How do you profit from my account?
We are compensated with a part of the trading commissions applied to your account. We don't apply custom markups neither we assume risk on OTC trades.
What's your net Capital? I can't find your firm listed on the CFTC website.
We’re required to comply with net capital requirements and to file audited financial reports with our regulator, however IIB's are not required to publish their capitalization. The CFTC monthly financial report, contains the list of FCMs and FDMs/RFEDs, not IBs.
Who do you clear your trades through?
As a boutique brokerage, we maintain multiple clearing arrangements with multiple Retail Foreign Exchange Dealers and Futures Commission Merchants, Depending on your feed/account selection, your account and funds will be held at the corresponding counterpart. Feel free to contact one of our brokers before opening your account to discuss your specific needs.
What is an Introducing Broker and what are its activities?
An Introducing Broker (IB) is an individual or organization that solicits or accepts orders to buy or sell futures contracts, Forex or commodity options but does not accept money or other assets from customers to support such orders. IBs must carry all accounts, including customer, proprietary and foreign futures, with an FCM or RFED on a fully disclosed basis. Customer accounts of guaranteed IBs must be carried by the guarantor FCM or RFED while the customer accounts of Independent IBs may be carried by one or more FCM or RFED. FastBrokers hold a registration of Independent IB.
Free Demo Trial Account (7)
Do you offer a demo trial account?
You can obtain a free trial account by completing theDemo Registration Form. After completing the registration process, we will create your demo account, and we will send download and login instructions to the email address you used to register.Demo accounts include real time streaming data and feature a virtual porfolio to place virtual trades and test your skills.
Can you explain the demo registration process?
After completing the Demo Registration Form, we will send you the "Email verification link" to the address you used for your registration. You'll need to validate your email account by clicking the link provided. Only after the email verification process is completed you will receive another email with your demo login credentials.
Can you extend the demo trial period?
It depends from the trading product you're testing. For futures accounts, the real-time data which we stream through the platform is proprietary information copyrighted by the corresponding exchange, and such exchange has subject FastBrokers to specific limitations in distribution of such data to non-customers. Same rules sometimes apply for some ECN's or other circuits we provide access and trading to.
Why you require a valid email address?
We require a valid email because our automated system will transmit you sensitive information. The system is also designed to prevent bogus automated registrations from spam-bots agents. Please note that the registration system is not compatible with most providers of "temporary emails".
I've registered, but I haven't received any email from you.
Please check spam/junk email folder. This is the place where most of the times automated emails end up. If after 15 minutes from completing registration, you still haven't received any email from us, (and you are sure you've spelled your email correctly during registration) contact our live support, we will manually activate your account.
When I click the verification link I receive the message “Your confirmation link is expired or not valid.”
In most cases you're receiving this message because you have already verified your email. Check your inbox for your demo instructions or contact us for assistance. Email verification links are set to expire if not validated. If you didn't validate your email promptly, you may have been removed from the system. In this case you may need to register again.
Can I subscribe to more than one Data Feed while using the demo?
Yes, you can and actually we encourage you to do so. One of the main features of our trading platform is the capability to establish multiple and simultaneous connections to different trading Data Feeds.
Forex Trading (5)
Do you operate a dealing desk? Do you trade against your clients?
As an IB we're not a counterpart to your trades, and we market and promote agency execution. Howerver, please note the clearing parties we introduce accounts to, may offer different trading and execution styles. Please refer to our forex information pages for more information.
What are your typical Spreads? Are your Spreads Fixed or Variable?
We offer decimal pricing and variable spreads. You can see typical an detailed spreads offering in the Forex trading section.
What is the max Leverage I can get?
The max leverage for all US based clients is 50:1. This is the limit set by the regulator for all US based brokers.
Do you Support Hedging?
Not Anymore. The US regulator has prohibited the practise of opening opposite trades.
Do you offer Sharia Accounts?
Yes we do. Please contact our new accounts department for more information and detailed conditions and requirements.
Futures Trading (6)
What is the minimum deposit amount required to open a futures account?
You can open an individual futures trading account with a minimum of $2,500 (or the equivalent in Euros or British Pounds).
What are the costs for CME real time data?
It depends from the exchanges you wish to subscribe and if you wish to receive level too. Prices charged by CME varies from $1 to $15 per month per device. There is no surcharge or additional costs by us.
What are the costs for EUREX real time data?
Eurex charges € 20 per month per device.
What is the liquidation level and policy?
Liqudation rules may vary depending the counterpart where your account is held. In most cased below certain equity/margin ratios, or Net Liquidating values, FastBrokers and/or the clearing counterparty may liquidate your open positions and liquidation fees may apply.
Will the funds I deposit to trade Futures be segregated?
Yes, funds deposited into your Futures trading account are held in a segregated account. So, in the unlikely event of failure of the FCM, your funds will not be considered part of the company's assets and they will have priority over any other creditor's claim according to US laws.
Are margin requirements fixed or do they change?
Margin requirements are updated on a regular basis as they may vary with market conditions, such as increased market volatility. However, usually the margin will not change very often or within the same trading session.
Opening an Account(5)
How can I open an Account?
Opening an account through FastBrokers is easy and secure. For most account types we offer a secured online application, where you'll be able to fill your forms online, sign them electronically, and upload your documents. During the account application you'll have to provide information such as your residence address, employment description, financial profile, trading experience and understanding of trading risks. The entire opening process takes about 15 minutes. Once we receive your documentation we will provide you with further information and documentation in order to complete the application. Generally, the whole process takes about 24-48 hours, but depending on your documentation or account type, it may take longer.
Once your account is approved we will inform you of your funding options. Your account will not be activated until funds are received, deposited and setup to use. You will be able to use the same PathFinder Trader demo installation you have previously used, we'll unlock your live account when ready.
How do you handle my personal Information?
During the application I'm asked to select the Data Feed I want to trade, what is this??
We are an Introducing Broker offering access to multiple products which are offered by different counterparts. Each Data Feed is usually associated to a combination of clearing counterpart where your account will be held and execution technology. If you're unsure which to select, please contact us.
Which additional documentation should I submit?
Generally, all account types require a copy of a valid, government issued picture identification document (driver license, ID, Passport ) and a copy of a bank statement or utility bill showing your current valid residence address. The name and address in such documents should match the information you have indicated during the account opening process.
Corporate accounts, in addition to the above, also require copy of corporate documentation showing the person(s) signing application is an authorized officer; a letter confirming that the funds being deposited belong to the entity and not to any third-party. Additional documentation may be required.
When I will be ready to start trading after opening the Account?
Assuming we have received all documents and all the forms have been signed, we will approve the account and send an account number along with funding instructions within 24-48 hours. Corporate accounts usually may take a bit longer.
Pathfinder Trader (4)
Is there any cost to use PathFinder Trader™?
PathFinder Trader™ is free for all of our live clients. You get full access to all functionalities of the software, including real-time streaming quotes, depth of market, tick-by-tick and historical rate and much more, at no cost.
Does PathFinder Trader™ run on Mac?
Unfortunately PathFinder Trader™ works only on Microsoft Windows based systems.
What about speed of execution and latency?
The execution speed of your orders depends on several factors including your internet connection, physical location, computer performance, etc. Our average execution speed is pretty quick! PathFinder Trader™ features direct API connections from your computer to the execution server, thus eliminating any bridge or middleware.
I'm a system trader and I need unfiltered and accurate data.
We offer data down to the tick-by-tick for all products offered through PathFinder Trader™. You can parse or export your data, and run a back-test using the included component. For traders requiring additional data, the platform is compatible with Barcharts.com.
CANNOT FIND YOUR QUESTION LISTED?
At FastBrokers customer service is paramount. If you have a specific question about our products and services please contact our customer support. Our operators are standing by!