Daniels Trading is a broker that offers trading in futures, spreads and options.
The broker is operating from the domain danielstrading.com and is a subsidiary of Gain Capital and RJ O’Brien.
Daniels Trading was established in 1995 and has been operating from Chicago, Illinois.
They also have multiple phone numbers that clients can use to call them.
We’ve seen reviews from customers who claim they never pick calls despite the broker stating on their website that they charge expensive commission because customer support is premium.
Also, we noticed that this broker is currently not regulated.
Minimum deposit for opening a futures account is $2000 but a demo account will come with $50,000 in virtual money to practice with on the global futures market.
This demo lasts for 14 days.
Apart from that, traders are expected to pay for their own data fees from providers like CBOT, CME, NYMEX, COMEX and ICE.
Traders can expect to pay $15 for all the above data providers except ICE which charges a whooping $110 per month.
Withdrawal fees are as follows: Domestic and foreign wire transfers……..$25 to $30.
Overnight check requests……. $15.
If you’d like to learn more about trading and investing services that can help you make money, go to this page.
Is Daniels Trading legit?
Despite this broker having established their business for a long time (they started as dtfx.com) which is now redirecting to the current domain, we can’t find many reviews from their customers.
Their website looks professional with lots of information and contact numbers to call in case something is not clear.
However, we are wondering why such a professional broker would operate in the US without having a proper regulatory status.
We’ve seen that this broker is using TrustPilot to publish “reviews” and “feedback” from their clients.
By now everybody knows that TrustPilot is the Mecca of fake reviews.
The owner cashes in on fake reviews which are directly sponsored by companies that create profiles there.
It is therefore naive to believe the glowing reviews that Daniels Trading has received on that platform.
There’s something strange about Daniels Trading that discourages us from recommending them or investing with them.
When they read this review, we’ll expect feedback and also we encourage traders to write their feedback here about this broker.