The company continues to push the boundaries of new technology and phenomenal value to this day.
July 21, 2020 —
CHICAGO, IL – Ten years ago, Generic Trade set out to offer a new standard for discount futures brokers by giving traders exactly what they want. As such, Generic Trade began offering online futures and options traders a truly innovative approach with its simple pricing structure, cutting-edge technology, and an easy account opening process.
Generic Trade instantly raised the bar with an innovative and groundbreaking concept. Instead of having a complex rate structure based on volume or account size, all Generic Trade clients were assigned a remarkable 59 cent commission for all markets, with the only additional transaction fees being charged by the exchanges and NFA (which applies to all firms). Additionally, Generic Trade provided the lowest possible margins allowed by the exchanges, as well as aggressive day-trading margins.
For Generic Trade, the idea was simple: showcase the best trading infrastructure available at the lowest costs possible – for all futures and options trading clients. Instead of having a complex tiered rate structure based on volume, account size, and any number of other variables, they offered every single account the same low commission rate for all markets. Furthermore, Generic Trade would eliminate all additional transaction fees charged by other firms (except the ones listed above), as well as other fees, such as maintenance fees, low volume fees, etc. For some, this, coupled with trading servers co-located with the exchanges and the lowest latency possible, seemed too good to be true.
According to Marc Nathan, President of Generic Trade, “many had doubts about us being able to offer all accounts the same low rates with this caliber of trading infrastructure – and about us being able to stay in business. But, ten years later, Generic Trade has seen tremendous success and popularity while continuing to offer all of this to all clients. It may be hard to believe, but every single futures and options account we have ever had has been setup for the same low 59 cent commission.”
Today, Generic Trade continues to push the boundary of new technology and phenomenal value for all.
About Generic Trade
Generic Trade is a discount brokerage firm specializing in online futures and options trading. Speed, reliability and functionality are provided by a cutting-edge trading infrastructure combined with innovative platform technology. All accounts regardless of size or volume are 59¢ commission per trade. Generic Trade is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association.
For further information, please visit the company’s website at www.generictrade.com.
There is a substantial risk of loss in trading futures and options.
Video URL: https://www.youtube.com/watch?v=quv_BhXvm8M
Release ID: 88969370