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How do I open an account?
There are several ways in which a new customer can open a futures or options trading account. From our main menu above, go to "Open an Account" and choose to fill out forms online with our eAccount Opener. If you would prefer to print out your own copy of the account forms, select "View/Download Forms" to do so. Once they are filled out, you can mail the hard copy to our office at 141 W. Jackson Blvd., Suite 2210-A, Chicago, IL 60604. If you would prefer to order a full Lakefront Futures account opening package, please use our account package request form or phone us at toll free 888-748-8122.
Once we receive your account forms, they are reviewed by the new accounts department and, once approved, your broker will assign you an account number. The next step is funding the account.
How Do I Fund My Account?
There are three ways you can fund your account. The fastest, and preferred, method is to send a bank wire to:
- Harris Trust and Savings Bank, Chicago, IL
- ABA: 071-000-288
- For the account of: MF Global Inc.
- Account number: 325-013-1
- Final credit: your name* and your 8-digit Lakefront account number.
*Please make sure the name on the bank account matches the name on the Lakefront account. Wires will not be accepted if they come in from third parties or mismatched account titles (i.e. spouse name, corporation name, farm account).
The other two methods of funding your account are by (1) personal check or by (2) cashier's check. Please make sure to make all checks payable to MF GLOBAL INC. We can NOT accept any checks made out to Lakefront Futures.
Also, when purchasing a cashier's check, please make sure to have your banker TYPE your name and Lakefront account number on the check. This is to insure that the purchaser is the same person who is funding the account. Any cashier's checks that have the name and account number printed on them or are missing altogether will NOT be accepted.
Is there a minimum account size?
There is no minimum account size. Depending upon which markets you trade, your broker will be happy to suggest a minimum account size for you. However, as long as you are trading within your margin parameters (we use exchange minimum margins for most markets), and are not on margin call, you will not need any minimum account size.
How Can I Check My Account Information Online?
eMidas is the accounting program that allows you to see all of your account information online. You can find the website under "Quick Log On" at the top of every page of this web site. Please contact your Lakefront broker to establish a user name and password.
How can I trade online?
We have several different online platforms* from which to choose. Our most popular is Trade Express which can be downloaded from the "Quick Log On" menu on the top of every page of the site. MTrade and MTrade Pro are also available under the "Quick Log On" menu. Once you have established which platform you would like to use, please contact your broker and he or she will assign you a user name and password.
If you ever experience any type of problem or have any questions regarding a trade or fill you placed on any trading platform, please call us immediately at 888-748-8122 and one of our trained staff members or brokers will assist you right away.
*For additional platforms that are not shown on the website please contact your Lakefront broker.
I don't understand my statement or something looks incorrect.
If you ever have a problem with a statement or you see a trade that looks incorrect, please call your Lakefront broker immediately and he or she will assist you right away. This is especially important if there is a trade that appears to be incorrect or missing. However rare it may be, the clearing process is an inexact science and every back office has a problem now and then. We can ALWAYS correct the problem and the sooner you see it and notify your broker, the sooner it will be corrected. Click here to view our "Understanding Your Statement" section.
How can I receive my daily statements via email?
If you would like to receive your daily statements via email, please make sure you have filled out the "Consent to Electronic Transmission of Account Statements" on page 12 of the account forms. Your daily statements will be emailed out to you each day you trade. If there is no activity that day, you will not receive a statement. Also, by law, your monthly statements will be mailed to your home address as a hard copy.
How can I have funds sent home to me?
Whenever you need funds sent to you, Lakefront prides itself on being able to get them to you quickly and efficiently. Please notify your broker before 11:00 a.m. CST and your funds will be sent that day. If you would like to receive a bank wire*, overnight*, regular mail, or pick it up at our offices, simply contact your broker and he or she will make sure you receive them under your specifications.
*A small fee applies. Please contact your broker for more information.
Can I trade at night?
We have a fully staffed 24-hour desk for those customers who wish to trade at night. Please contact your broker to be set up for overnight access.
How early can I start placing trades in the morning?
Our trading desk opens at 6:45 a.m.. CST each morning. If you have any orders you need to place prior to the open, you may call them in beginning at this time.
I have a question about something else that I don't see covered in the FAQs!
If there is something you don't understand, aren't sure about, angry about, happy about, want to see changed or just need to talk about, please call us AT YOUR CONVENIENCE! We are here to help you with every aspect of your trading and we enjoy doing anything we can to make that happen. Please use us in this capacity. Our number is toll free 888-748-8122 and we are here Monday through Friday from 6:45 a.m. to 4:30 p.m. |
