Commodities Frequently Asked Questions
Q: Where do I go to view my account statements?
A: You can either view statements through Cleartrade Trading Demo, login to R.J O's website, receive your statement vis email or through the postal system.
Q. What is the margin requirement for commodity trading and future trading?
A. You can access the daily margins under resources tab above. Margins are subject to change without prior notice.
Q: How can I reach technical support?
A: You can reach technical support @ 1.773.561.9777.
Q: What kind of statements will I receive?
A: All customers receive daily confirmation statements when activity occurs. These statements detail account activity such as: cash deposits, purchases and sales, open positions, account balances, open trade equity and total equity. Customers also receive monthly statements as well as 1099's for tax purposes. This information is also available electronically on Cleartrade Trading Demo or through R.J. O'Brien online query.
About Customer Service
Q: How can I receive customer service and what services do they provide?
A: Customer service will assist you with a variety of services such as requesting duplicate statements, tracking the progress of wires and check requests, account updates for current phone numbers and email address. Requests for address changes must be made in writing with a signature from every individual on the account. Call @ 1.773.561.9777.
Q: How can I update my address?
A: Address changes need to be submitted in writing with the signature of the account holder(s) using this form. The request can be faxed to us at 773-561-9775. Or, if you prefer to mail it, our address is:
Attn: Scott Joss
5415 N. Sheridan Rd.
Chicago, IL 60640
Q: How can I send funds to my account?
A. Either wire transfer funds or send a personal, corp. check to:
All checks should be made out to R.J. O'Brien and mailed to the address below:
Attn: Scott Joss
5415 N. Sheridan Rd.
Chicago, IL 60640
Q: How much do wires cost? How much do checks cost?
A: Outgoing wires are $25. Sending funds out in check form is free. Cut off time for checks and wires is 11 a.m. CST. Requests should be done through ClearTrade Inc. (Call @1.773.561.9777).
Q: How do I set up an ACH
A: Authorization Agreement for Direct Debits and Credits (ACH). Please include an image of a voided check with this ACH agreement for verification.
ACH is fast Free and secure through R.J. O'Brien our clearing firm.
Q:If I want to close my account, withdraw money from my account, or purchase a T-Bill who should I call?
A: In addition to assisting you with trading, ClearTrade will help you to purchase a T-Bill, withdraw money from your account, and close your account. Please Call 1.773.561.9777.
Q: Whom do I call when I have a question about trading activity in my account?
A: ClearTrade will investigate any trade issues you may have. Please call 1.773.561.9777.
Q: Who can I call to cancel an order I placed electronically?
A: Contact ClearTrade and they will assist you with canceling your order. Please Call 1.773.561.9777.
Q: Can I get my statements emailed to me or access my account online?
A: Yes, contact ClearTrade customer service with your current email address to setup request.
About Cleartrade Trading Demo
Q: How do I find out my logon ID and password?
A: Your logon for WebOE is an eight-digit number consisting of your three-digit trading desk number followed by your five-digit account number. Your password is specifically assigned and will be sent to you via e-mail. It will then be necessary to change your password the first time you access our site. After that, the password will need to be changed every 90 days.
Q: I entered my logon and password, but was not allowed to enter the system?
A: First, be sure that you used your full, eight-digit logon ID. Second, make certain that you have typed your password exactly as you received it. If you are still unable to log on at this point, call 1-773.561.9777 for assistance.
Q: What symbols must I use on the order entry page?
A: The symbols used on WebOE are exactly the same as those used by the exchanges, including single-letter codes used to designate months. If you are unsure of the symbol(s), there is an online menu to help you at the bottom of Cleartrade Trading Demo. It includes all current contract symbols cross-referenced by the exchange on which they are traded. It also includes the symbol for each month.?
Q: How do I enter order modifiers (i.e. limits/stops, MIT, etc.)?
A: There is a drop-down menu on the order entry screen. By default, it is set to 'Market,' but if you click on it, you will be able to view the available order modifiers.
Q: How do I format prices?
A: The WebOE system does not accept decimals, so prices in decimal format should be entered with the proper number of digits out to 2 decimal places, but without the decimal. For example, a price of 125 even would be entered as 12500.
Q: How do I enter fractions (1/4's, 1/32's, etc.)?
A: 1/4's (commonly used in grain pricing) may be entered by entering 2 for 1/4, 4 for 1/2, and 6 for 3/4. For 1/32's (commonly used for T-bonds), simply enter the number of 1/32's. For instance, a price of 104 15/32 would be entered as 10415.
Q: How do I submit the order?
A: In order to submit a futures order, click the Preview Order button at the top of the page. You will then receive a confirmation of your order in plain English. If the order is complete, then click Submit Order.
Q: How do I know what type of order is appropriate in a given situation?
A: Knowing what type of order to use in a given situation is a matter of tactics, not strategy. First of all, not every exchange accepts every type of order, so the first thing you need to know is what your choices are.
A clear understanding of what you hope to accomplish with the order is also necessary. Finally, you must understand how to place each order relative to the current market price. For example, stop orders are frequently used to close out positions that have moved against you. That's why sell stops are placed below and buy stops are placed above the current market.
There are many types of order that can help you execute your strategy with more finesse. Please view order entry.
Q: I day trade stocks. Why should I be interested in futures?
A: Day trading futures is not that different from day trading stocks. In both situations, you're trying to take advantage of very short-term price fluctuations. Futures exhibit good intraday price movement, creating more day trading opportunities.
They're just as easy to sell short as they are to buy long. And, because many stock traders already track the S&P 500, NASDAQ 100 and DJIA, index futures really are a natural choice for day trading - especially the electronically traded E-Mini contracts.
Q: How can I use futures to be a better trader?
A: Futures can add versatility to your trading, making you better able to fine-tune your portfolio and respond to changing market conditions. Professional traders use futures routinely for managing risk. First, futures are just as easy to sell short as they are to buy long; there is no uptick rule, and no 'inventory' issues to complicate short sales. Second, because a single contract lets you control an entire index for one relatively low margin and commission, futures can be more cost-effective to trade. With so many advantages - and since many stock index futures contracts are sized just for individual traders/investors - there's no reason why you can't employ the same strategies the pros use.
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