What type of accounts can I open at Sierra Futures?
Individual Joint IRA Corporate LLC Trust Partnership.
What is the minimum amount to open an account?
Sierra Futures account minimum is $250.
What kind of account statements will I receive?
You will receive daily statements and a month-end summary.
How long does it take to open an account?
Account processing and the approval process can typically be completed within 1 to 2 business days. If additional information is needed to open your account, Sierra Futures will notify you.
How long does it take to transfer an account from another brokerage firm?
The processing and transfer process is required to be completed within 3 business days.
Does Sierra Futures provide a 1099 tax form?
The FCM will provide individual and joint accounts for US residents, 1099 tax statements.
Does Sierra Futures open accounts for people outside of the United States?
Yes, Sierra Futures can accept accounts from people outside of the United States. To confirm if we can open an account in your country, please submit your question to firstname.lastname@example.org
Does Sierra Futures offer IRA accounts?
Sierra Futures accepts futures and option trading accounts within your IRA.
Can I open more than 1 account?
Yes, you can open additional accounts and sub accounts to trade different strategies or managed accounts.
What is the difference between a non-professional and professional?
Non-Professional shall mean and include either (i) an individual, natural person Subscriber(s) who, or (ii) certain small business entities (limited liability companies, partnerships, trusts or corporations) that, receive and use Information (excluding any pit traded data), in each case subject to the following restrictions:
The Non-Professional Subscriber
(a) the Subscriber must have an active futures trading account;
(b) the Subscriber must not be a member (or hold or lease any type membership) of any exchange;
(c) the Subscriber does not have a primary business purpose that involves trading;
(d) the Subscriber must not be registered or qualified as a professional trader or investment adviser with any stock, commodities or futures exchange or contract market, or with any regulatory authority, professional association or recognized professional body; and
(e) the Subscriber must not be affiliated with any entity that is or may be considered a Professional user
Professional Subscribers: Any Subscriber that does not meet the qualifications of a Non-Professional or falls under the categories described below will be considered a Professional. Notwithstanding anything else herein,
Professionals shall include, without limitation:
Any person or entity that provides financial or similar services to any third party.
Any person that is registered or qualified as a professional trader or investment adviser with any stock, commodities or futures exchange or contract market, or with any regulatory authority, professional association or recognized professional body.
Any person or entity that acts on behalf of an institution that engages in brokerage, banking, investment, or financial activities.
Any person or employee of an entity that holds any form of membership at any of the CME Group Designated Contract Markets (“DCM”) or any other exchange.