Deep Discount Trading is a futures introducing broker that provides futures or futures options trading services to users through online technology. This company is not regulated by any regulatory authority. The website is available only in the English language and is more inclined towards experienced investors. High-volume traders are offered special treatment, including dedicated agents, commodity trading advisors, and futures fund managers.
Company Background:
Deep Discount Trading's domain is deepdiscounttrading.com, and according to a whois query, the domain was registered in 2009. The company does not disclose its physical information, such as the company's address and headquarters. Users can contact the company by calling 1-888-407-7918 or by emailing Service@DeepDiscountTrading.com for further inquiries.
Trading Platforms:
This company does not use common MT4 or MT5 online trading platforms. Instead, it offers multiple alternative platforms for users to choose from. These alternative platforms include Sierra Chart, MotiveWave, Rithmic's R | TraderPro, CQG Desktop, CQG QTrader, Fire Tip, CTS T4, TRADE NAVIGATOR, and a total of 14 platforms. The company provides a comparative analysis of the characteristics and costs of these trading platforms for user reference. Users can easily access their chosen platform through the provided entry links for online trading. It is important to note that entering other platforms involves significant security risks, and this introducing broker may not guarantee the safety of trades. Additionally, the platform is primarily geared towards investors with some trading experience or familiarity with the basics of trading.
Margin Requirements:
During the intraday electronic trading session, both U.S. and non-U.S. investors are required to pay an initial margin of 25% per contract. While this may appear advantageous to investors, trading with an intraday margin below 25% can be precarious. After transitioning from the intraday trading session to a new trading session, contracts of any size require an initial margin of 100%. The platform also provides entry links to three exchanges: the Chicago Mercantile Exchange, the Intercontinental Exchange, and the European Futures Exchange.
How to Register for a Deep Discount Trading Account?
First, click on the "Apply for an Account" button. New users can register using their email, set an account password, and confirm it. Afterward, clicking "Register for an Account" will allow users to log in using their account password. However, it's important to note that, at this point, users are registering for an IRONBEAM account, not a Deep Discount Trading account.
The futures and options trading services offered by this company carry high risks. If users do not manage their accounts properly, significant financial losses can occur. Deep Discount Trading's online trading is more suitable for experienced investors.
Partners:
The company claims to have partners such as Sierra Chart, MotiveWave, Rithmic, CQG, CTS, MULTI CHARTS, DNT, and TRADE NAVIGATOR, among others. These companies collaborate to provide futures or futures options online trading services to users. The introducing broker emphasizes that it offers low commission rates, highlighting the competitive advantages of its partners.
Regulatory Status:
Deep Discount Trading is not regulated by any regulatory authority. The company's trading activities lack oversight and scrutiny from financial regulatory bodies. Investors should exercise extreme caution when considering this company, as the absence of regulatory supervision poses risks to the safety of their personal finances.
Customer Support:
The company offers 24-hour email support. Users facing any issues can seek assistance by sending an email.
Summary:
Deep Discount Trading is a fraudulent futures scheme. The content on its website appears disjointed, with minimal original content. The introducing broker operates without regulatory oversight, leaving investors' trading activities on this platform without supervision and protection. Currently, this company is marked as "suspected fraud" on TraderKnows. TraderKnows advises investors to stay away from this platform to safeguard their financial assets.
