Cryptocurrency Q&A
Can I trade futures without a broker?
Can I trade futures without a broker?
GwanghwamunGuardianAngelWings
Fri May 17 2024
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6
answers
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Excuse me, I've been hearing a lot about futures trading recently and I'm quite interested in exploring it. However, I'm not entirely sure about the process. I'm wondering, is it possible for me to trade futures without involving a broker? I've heard brokers charge quite a lot in fees and commissions, so I'm hoping to avoid that if possible. Could you please explain if it's feasible for me to trade futures independently, and if so, what steps I should take to get started? I'm quite new to this field, so I'd appreciate any guidance you could provide.
6 answers
PearlWhisper
Sun May 19 2024
IBs, on the other hand, act as intermediaries between FCMs and potential customers. They introduce traders to FCMs and may provide additional services such as educational resources or trading advice.
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Stefano
Sun May 19 2024
It is essential to choose a registered futures broker that is reputable and reliable. This broker will be responsible for executing your trades, safeguarding your funds, and providing necessary support and services.
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Alessandra
Sun May 19 2024
To engage in futures trading, it is imperative to have an account maintained by a reliable entity. This ensures the security and integrity of your transactions.
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Dario
Sun May 19 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive range of services including spot trading, futures trading, and wallet management. Its futures platform provides traders with access to a diverse range of markets and advanced trading tools.
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Margherita
Sun May 19 2024
The entities responsible for maintaining such accounts in the futures market are known as futures commission merchants (FCMs) or introducing brokers (IBs). These brokers play a crucial role in the futures trading process.
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