Accounts and eligibility
Sections ↑Discount Trading provides US futures and options brokerage. Eligible international applicants, including Canadians, can apply, subject to product and account approval. Terms were checked on 12 October 2026.[10]
Reference table01
Published account-funding choices
| Attribute | Micro-only account | Standard futures account |
|---|---|---|
| Opening funding | USD 500 | USD 1,500Source 10 |
| Product scope | Micro futures only | Standard and E-mini futures; approved optionsSource 10 |
| Entry-level commission | Micro equity indices: USD 0.20/side | Standard futures: USD 0.49/sideSource 11Source 12 |
| Platform route | Choose a compatible platform/feed | Choose a compatible platform/feedSource 15 |
| Margin | Contract and approval-specific | Contract and approval-specificSource 14 |
The facts02
Shared account essentials
| Measure | Value | Context |
|---|---|---|
| Ownership | Individual, joint and legal-entity applications | The ownership choice determines identity, beneficial-owner and authority documents.Source 10 |
| Trading cost | Commission plus other applicable charges | Monthly data and software are separate from transaction charges.Source 23 |
| Customer money | Published funding route: Ironbeam | Deposit to the approved carrying-FCM account.Source 21 |
Process03
Opening documents and special ownership
| Account | Published requirement or route |
|---|---|
| Individual / joint | Identity and account information; a joint account is needed for more than one beneficial owner.Source 10 |
| Trust / corporation / partnership | Trust agreement, incorporation documents or partnership agreement and applicable tax identification.Source 10 |
| IRA / Roth IRA | Custodian routes include Inspira Financial and EquityTrust.Source 10 |
| Power of attorney | Provide the trading-authority agreement and supporting documentation; ownership remains with the account holder.Source 10 |
| Approval | The FAQ describes most completed applications as reviewed within one business day; additional verification can extend this.Source 11 |
Markets and contract choices
Sections ↑Specifications04
Reference contracts and economic size
| Contract | Exposure per contract | Outright tick |
|---|---|---|
| MES — Micro S&P 500 | USD 5 × index | 0.25 point = USD 1.25Source 5 |
| MNQ — Micro Nasdaq-100 | USD 2 × index | 0.25 point = USD 0.50Source 5 |
| NES / NNQ — E-nano indices | USD 0.50 / USD 0.20 × index | 0.50 point = USD 0.25 / USD 0.10Source 8 |
| MGC / GC — gold | 10 / 100 troy ounces | USD 0.10/oz = USD 1 / USD 10Source 6 |
| MCL — Micro WTI | 100 barrels | USD 0.01/barrel = USD 1Source 7 |
Availability05
Market access and contract lifecycle
| Area | What the offer covers |
|---|---|
| Currencies and rates | Euro, yen and sterling futures, smaller FX contracts, Treasury and other rate contracts appear in the published schedule.Source 14 |
| Energy, agriculture and metals | Standard and smaller futures across major commodity groups.Source 15 |
| Options | Options-on-futures access depends on connection and approval; naked-option selling requires case-by-case approval.Source 23 |
| Expiry and settlement | MCL settles financially; gold and other deliverable contracts need the broker’s first-notice planning.Source 7Source 6 |
Commissions, clearing, data and account charges
Sections ↑Pricing & charges06
Monthly-volume commission schedule
The web schedule, dated 9 October 2026, covers accounts opened after 25 March 2026.[12]
The linked PDF instead uses 1 May 2026. Confirm the applicable tariff for accounts between those dates; assisted services differ.[13]
Pricing & charges07
Selected transaction components before clearing
Pricing & charges08
Clearing and recurring platform costs
| Component | Published charge |
|---|---|
| Clearing: Certigo / CQG | USD 0.05–0.30 / USD 0.05–0.45 per sideSource 12 |
| Clearing: Rithmic / Teton | USD 0.10–0.30 / USD 0.10–0.20 per sideSource 12 |
| R Trader / R Trader Pro software | Free; exchange data remains separate.Source 16 |
| Rithmic monthly connection | USD 25 below 100 round turns. FAQ waiver says 100+; nearby text says over 100, so confirm treatment at exactly 100.Source 16 |
| Rithmic API | USD 99.99/month; separate from a free retail front end.Source 17 |
| Teton routing | No monthly API-connection or per-trade routing fee; Sierra Chart package 10+ and data costs still apply.Source 19 |
Pricing & charges09
Exchange data and service charges
| Item | Published USD amount |
|---|---|
| Non-professional CME Group bundle | Level 1: 9/month; market depth: 41/monthSource 13 |
| NFA assessment | 0.01/side from 1 July 2026; scheduled 0.02/side from 1 July 2027Source 3 |
| Assisted / full-service execution | 0.99 / 20 per contract; side/round-turn basis not specified in the PDFSource 13 |
| Margin-call assessment | Greater of 18 or 0.18% of daily margin deficiencySource 13 |
| Outgoing account transfer | 100; transfer-in is freeSource 13 |
The facts10
Unused accounts and subscriptions
| Measure | Value | Context |
|---|---|---|
| Free-platform inactivity | No monthly inactivity fee or minimum trading requirement | This does not waive selected data, connection or strategy subscriptions, or establish an indefinite dormant-account access policy.Source 11 |
| Free FireTip / MegaTrader | Free core platform options | CME data inclusion is conditional; obtain the exact qualification for the selected platform.Source 20Source 13 |
Platforms, margin and order handling
Sections ↑Platforms & products11
Connection and platform differences
| Route | Capabilities | Limit |
|---|---|---|
| Rithmic / R Trader Pro | DOM, chart trading, options information, mobile access and trade copying | Selected brackets/stops are server-held; verify each order type.Source 16 |
| CQG | Desktop and specialist platforms, web/mobile access, FIX and other APIs | The chosen package and enabled permissions determine availability and fees.Source 18 |
| Sierra Chart / Teton | CME Group futures and spreads with server-held risk controls and brackets | No options-on-futures routing or Market-if-Touched orders through this service.Source 19 |
| FireTip / MegaTrader | Desktop, browser and mobile trading | Use the account’s supported exchange/data package.Source 20 |
Reference table12
Normal versus approved enhanced day margins
Process13
Cutoffs and forced intervention
| Trigger | Published consequence |
|---|---|
| Daily or early holiday close | Flatten or meet full exchange requirements at least ten minutes before the close.Source 14 |
| Margin breach | Some or all positions can be liquidated; USD 50 per standard contract or USD 25 per Micro contract.Source 14 |
| Net liquidation value below USD 200 | Immediate liquidation can apply. Limits may be raised without notice during volatility.Source 14 |
| Deliverable contract | Exit at least three business days before first notice unless delivery is arranged. Delivery/retender can cost up to USD 250/contract plus external costs.Source 13 |
The facts14
Electronic-trading limits
| Measure | Value | Context |
|---|---|---|
| Scheduled Rithmic maintenance | Monday–Thursday, 16:15–16:45 Central, plus a weekend window | The broker lists periods when the connection is unavailable; save the dealing alternative before trading.Source 17 |
| Stops and deficits | Orders and risk controls do not guarantee an exit price | Account losses can exceed deposits, and deficits require prompt additional funds.Source 23 |
Deposits, withdrawals and account transfers
Sections ↑Process15
Ironbeam-route deposits
| Method | Process and restriction |
|---|---|
| Wire | Matching sender name; credited funds can trade. Same-day processing cutoff: 11:30 Central.Source 21 |
| ACH via Plaid | Initiate through the account application or client portal. Bank-originated ACH and Bill Pay are rejected; allow up to five business days to trade.Source 21 |
| Cheque | Payable to Ironbeam in the account holder’s name; third-party cheques are rejected and collection holds can apply.Source 21 |
| Broker transfer | Complete the new-account and transfer documents. Cash and open positions can be transferred subject to carrying-firm coordination.Source 22 |
Process16
Withdrawals and deposit locks
| Item | Published rule |
|---|---|
| ACH withdrawal hold | Ten business days from deposit.Source 21 |
| First 60 calendar days | Withdraw electronically to the bank that originated the ACH deposit; further identity evidence may be requested.Source 21 |
| Request | Use the portal or contact the broker. Wire/cheque requests before 11:30 Central are typically processed that business day.Source 21 |
| Domestic / international wire | USD 40 / USD 60; ordinary cheques free; expedited delivery extra.Source 13 |
| Withdrawable amount | Cleared cash remains subject to margin requirements and deposit restrictions.Source 21 |
Regulation and customer-funds protection
Sections ↑Protections & eligibility17
Identity and protection limits
| Area | Scope |
|---|---|
| Current legal match | United Futures Trading Company Inc, NFA ID 0283032: registered CFTC IB and approved NFA member when checked on 12 October 2026.Source 1 |
| Custody | The carrying FCM holds customer collateral; Discount Trading is the introducing brand.Source 2 |
| Exchange corroboration | CME lists Discount Trading under its broker directory; that listing is not a guarantee of investment outcomes.Source 28 |
| Customer funds | The risk disclosure describes segregated futures accounts and excludes FDIC/SIPC insurance and a clearinghouse guarantee of customer funds.Source 23 |
| Insolvency versus loss | Segregation does not insure trading losses or provide an industry-wide shortfall payout at a failed futures firm.Source 4 |
Support and dealing interruptions
Sections ↑Official account and dealing routes
International telephoneTelephone
+1 219 769 0366Source 24Source 16
Scope Trade support, account enquiries and dealing during connection failure
Hours 24 hours, six days a week, while the relevant markets/desk are operating
US toll-free telephoneTelephone
Broker emailEmail
Contact formWebsite
https://www.discounttrading.com/contact-us.htmlSource 24
Scope Written account enquiry; use the dealing phone for urgent orders
Process18
If a platform or connection fails
| Action or term | Published basis |
|---|---|
| Telephone the desk | The broker offers help placing or managing trades while markets operate; have the account’s dealing instructions available.Source 16Source 23 |
| Telephone charge | Up to USD 20 per contract placed, modified or cancelled.Source 13 |
| Orders and claims | The disclosure places electronic-trading risk on the client and disclaims compensation for connectivity failures. Review statements promptly; keep order and incident records.Source 23 |
| Unconfirmed instruction | Reconcile live orders and positions with the desk before replacing an uncertain order; the public material does not specify a universal authentication or dispute-deadline procedure.Source 23 |
NFA accepts conduct complaints against members; check the responsible firm’s membership history in BASIC, including the selected carrying firm where relevant.[30]
A monetary dispute over alleged unfair or improper treatment can instead enter NFA customer arbitration, subject to its rules and two-year filing requirement. A timely Notice of Intent can pause that deadline; it does not itself file a claim.[29]
Trade copying, systems and account authority
Sections ↑Process19
R Trader Pro copying
Process20
iSystems subscriptions and automated trading
| Step | Published condition |
|---|---|
| Choose and license | Subscribe to the selected system; monthly charges are deducted at the start of the month, with the first month prorated.Source 25 |
| Activation | Choose units and entry settings, then confirm activation. A licence purchase alone does not establish an active trading position.Source 25 |
| Capital monitoring | A system can be automatically deactivated when its required balance is no longer met. The requirement can change; losses can still exceed account funds.Source 25 |
| Manual trades | Do not enter separate orders in the dedicated synchronized account; the provider warns these can create unexpected additional trades.Source 26 |
| Results | Displayed performance is hypothetical model data, even when based on customer fills.Source 26 |
| Exit and recurring fees | Confirm current deactivation, residual-position and licence-renewal instructions. The live portal links a September 2017 agreement, which does not settle today’s full exit procedure.Source 27 |
The facts21
Other account services
| Measure | Value | Context |
|---|---|---|
| POA / managed authority | A separate authority document is required | Trading permission does not transfer ownership of the account; revocation and remaining positions need explicit instructions.Source 10 |
| API development | Rithmic and CQG interfaces are available | Professional API access and conformance requirements differ from ordinary platform use.Source 17Source 18 |
Company, trading names and history
Sections ↑The facts22
Business identity and continuity
| Measure | Value | Context |
|---|---|---|
| Legal company | United Futures Trading Company Inc | NFA membership began 24 October 1997; full IB registration followed on 9 February 1998.Source 1 |
| Trading names | Discount Trading and Transworld Futures | Both appear in the same current BASIC firm record; they are not separate regulatory licences.Source 1 |
| Account continuity | Distinguish brand, platform and carrying firm | No current general customer-migration schedule was established. A route change needs its own transfer instructions and account terms.Source 22Source 9 |
Legal entities & licences
These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.
United Futures Trading Company Inc
United StatesSource 1
| Issuer & identifier | Recorded status | Date & scope |
|---|---|---|
| Commodity Futures Trading CommissionIB; NFA ID 0283032 | Registered | Checked 12 Oct 2026Current official BASIC: IB / REG.Source 1 |
| National Futures Association0283032 | Registered | Checked 12 Oct 2026Current official BASIC: NFA Member Approved.Source 1 |
Sources & further reading
- Official current legal identity, membership, registration and recorded names National Futures Association · Accessed 12 Oct 2026
- Introducing-broker role and customer-money restriction National Futures Association · Accessed 12 Oct 2026
- Current assessment and scheduled effective dates National Futures Association · Accessed 12 Oct 2026
- Futures customer-funds protection and insolvency treatment Futures Industry Association · Accessed 12 Oct 2026
- Micro equity-index contract multipliers and ticks CME Group · Accessed 12 Oct 2026
- Gold and Micro Gold contract economics CME Group · Accessed 12 Oct 2026
- Micro WTI contract, settlement and tick CME Group · Accessed 12 Oct 2026
- E-nano equity-index futures and tick economics CME Group · Accessed 12 Oct 2026
- Core futures offer and current brokerage identity Discount Trading · Accessed 12 Oct 2026
- Micro/standard funding, ownership and international accounts Discount Trading · Accessed 12 Oct 2026
- Account approval, inactivity, funding and platform questions Discount Trading · Accessed 12 Oct 2026
- Current volume, exchange, clearing and market-data schedule Discount Trading · Accessed 12 Oct 2026
- Linked fees and commission disclosure; May 2026 PDF Discount Trading · Accessed 12 Oct 2026
- Normal/enhanced margins and liquidation cutoffs Discount Trading · Accessed 12 Oct 2026
- Supported trading platforms Discount Trading · Accessed 12 Oct 2026
- R Trader Pro, connection fee waiver and trade copier Discount Trading · Accessed 12 Oct 2026
- Rithmic connectivity, API and maintenance schedule Discount Trading · Accessed 12 Oct 2026
- CQG platforms and development interfaces Discount Trading · Accessed 12 Oct 2026
- Sierra Chart Teton routing and limitations Discount Trading · Accessed 12 Oct 2026
- FireTip / MegaTrader platform tools Discount Trading · Accessed 12 Oct 2026
- Ironbeam funding, ACH holds and withdrawal procedure Discount Trading · Accessed 12 Oct 2026
- Cash and position transfers from another broker Discount Trading · Accessed 12 Oct 2026
- Futures risk, electronic-order liability and customer-funds protections Discount Trading · Accessed 12 Oct 2026
- Official account and trade-support contacts Discount Trading · Accessed 12 Oct 2026
- iSystems monthly licensing, activation and capital checks Discount Trading · Accessed 12 Oct 2026
- Current branded iSystems synchronization and risk terms iSystems / Discount Trading · Accessed 12 Oct 2026
- Current portal link to customer agreement dated September 2017 iSystems / Discount Trading · Accessed 12 Oct 2026
- Exchange listing of Discount Trading and its legal business CME Group · Accessed 12 Oct 2026
- Customer arbitration: monetary disputes and filing time limit National Futures Association · Accessed 15 Oct 2026
- Reporting improper business practices and checking NFA membership National Futures Association · Accessed 15 Oct 2026
This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.