What can I trade?

Members of the Elite Trading Group can trade all stocks and futures available to retail trading accounts. However, members are offered a professional level of margining, which is higher than those offered to retail traders.

How does the Elite Trading Group work?

After you have verified your trading account you can request to be accepted into the Elite Trading Group by submitting your trading strategy for review. If you are accepted, deposit a bitcoin into the Live account associated with your username using the promo code ETG.

Elite Trading Group members deposit 2 bitcoins into their Live account using the promo code ETG. This ring fences the bitcoins for the Elite Account. We ask you to do this because experience has shown performance is greatly improved if the trader ‘has skin in the game.’ This is the full limit of your risk. If the market gaps against you, First Global will be responsible for the additional margin. 

You can continue to use your Live account while you are an active member of the Elite Trading Group, however, as long as you have open positions in your group account you will not be able to withdraw your bitcoin committed to this trading. 

When you first log in to the account, you will see a ‘0’ balance on the Summary tab. This is because the bitcoin margin is locked in the Live Account. Only profit will be reflected in this account. As your profit increases, trading capital increases in line with the table below:

Please read this carefully so you understand all the benefits and risks associated with the Private Trading Group.

Performance is judged by the PnL on your nightly trade statement. As you progress up the levels, you will have access to more and more margin to stock and futures trade as shown in the table above. For example, when you make your first bitcoin profit you move up to Level 2. This level has a maximum position size of 36 bitcoins worth of stock or 7.20 bitcoins worth of futures contracts. If you took 18 bitcoins worth of stock positions (50% of available margin) you would still be able to take 3.6 bitcoins (50% of available margin) in futures positions. Currency Switch is not impacted by your stock or futures positions. We do not care where the capital is kept to secure your positions, bitcoins or fiat are both acceptable. But this gives you an edge over anyone else trading bitcoins to make a profit.

Conversely, if you are a Level 3 trader and your profit dips below 1 bitcoin, you move back to Level 2 (as shown in the ‘Level Column) and the maximum trading size moves back to 36 bitcoins worth of stock. If the account balance goes to -2.0 then your account will be suspended. 

How do I tell how much margin is available to trade?

The Manage Orders tab has a table on the right which displays the amount of bitcoin in the account (in the left hand column) and the amount of bitcoin being used as trading margin (in the right column.) Because you are trading at 10x leverage, remember that the right hand column shows cash, not without leverage. For example if you had 5 bitcoins in your account and 1 bitcoins worth of stock positions, the right column would show 4 bitcoins still availble.

If you book losing trades, the available margin and the amount of stock or futures you can trade decreases. Once the maintenance margin level is breached the risk management system will automatically start scaling back your positions proportionally. As a member of the Private Trading Group your risk is always limited to your initial deposit of one bitcoin. First Global will cover any additional losses.

What can I do with the profit?

The profit on the Elite Trading Group account is split 75% to the trader, 25% to FGC. Once you start to accrue profit you can choose to close some or all of your positions and remove profit from the account. First Global Credit will remove a proportional amount from the account at the same time. Removing profit will cause your level and the amount of available margin to decrease.

There are additional benefits to leaving your profit in place. If you achieve Level 11 status you can have us arrange a Porsche Boxster lease for you. A portion of your profit, matched by First Global Credit will be applied towards the Porsche lease. Achieve Level 15 status and this option can be applied to the lease of a Ferrari 458. (terms and conditions apply)