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Generic Trade Review
Generic Trade is a US futures introducing broker guaranteed by Ironbeam. It charges a flat 59 cent commission and needs no minimum deposit to open.
Min Deposit
N/A
Spreads From
Not applicable, Generic Trade charges a flat 59 cent per contract commission instead of a spread
Max Leverage
Not fixed, margin is set by the exchange for each futures contract
Platforms
Firetip
Pros
- Flat 59 cent commission per contract side on every account since 2010
- No minimum deposit and no minimum trading activity required to start
- NFA member and CFTC registered introducing broker since 2010
- Client funds are held by Ironbeam, an established and separately regulated FCM
Cons
- Generic Trade is an introducing broker, so it never holds your money itself
- Access to the Firetip platform adds a separate fixed monthly fee
- Only futures and options on futures are offered, not forex or stocks
- BestForex.io still lists this profile as unverified with no public score
Generic Trade is a discount futures broker based in Highland Park, Illinois. It has operated since 2010 and is registered with the NFA and the CFTC as an introducing broker. Ironbeam, Inc. guarantees the firm and acts as its clearing futures commission merchant.
The broker keeps things simple. Every account pays the same 59 cent commission per contract side, no matter the account size. There is no minimum deposit, no minimum trading activity, and no dedicated sales team pushing extra products. Clients trade futures and options on futures only, not forex or stocks.
Because Ironbeam holds client funds in segregated accounts, not Generic Trade itself, a trader is really trusting two firms at once. Generic Trade's own platform choice centers on Firetip, which costs an extra fixed monthly fee on top of the trade commission. BestForex.io currently lists this profile as unverified with no public score.
Max Leverage
Not fixed, margin is set by the exchange for each futures contract
Spreads From
Not applicable, Generic Trade charges a flat 59 cent per contract commission instead of a spread
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
