GENERIC TRADE

Generic Trade is a US-based discount futures and options brokerage founded on March 15, 2019, according to FXCanary’s records. The firm is headquartered at 210 Skokie Valley Road, Highland Park, Illinois 60035, and operates primarily online. Customer support is available by phone (800.707.2006) and email, with 24-hour tech and trading support for account holders. The broker’s website indicates it has been active since 2010, though official founding documents show the entity was registered later.

Generic Trade claims to be registered with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA). However, FXCanary’s independent records do not list any regulators on file, and we have not been able to verify this registration directly. The broker states that customer funds are held in segregated accounts with its clearing partner, Ironbeam, Inc., which files daily reports with regulators. Traders should note that while the broker asserts strong financial safeguards, the lack of independently confirmed regulation introduces a degree of uncertainty.

Generic Trade offers a single account type with a uniform commission of 59¢ per side for all accounts, regardless of trade volume or balance. The broker imposes no minimum account size and does not require a certain number of trades to qualify for the low rate. This structure is designed for active, experienced traders who want straightforward pricing without tiered fees or restrictions.

The broker provides proprietary trading platforms: Generic Trader Online (web-based), Generic Trader Desktop (downloadable application), and Generic Trader Mobile. These platforms are integrated with the broker’s own infrastructure, which includes direct connections to CME Globex and other exchanges. Generic Trade highlights its co-location in CME Group’s data center in Aurora, Illinois, offering ultra-low latency trading with port-to-port speeds under 500 nanoseconds.

Account funding is accepted via wire transfer or ACH. Wire instructions are provided for domestic and international transfers, with the credit going to Ironbeam, Inc. for the customer’s segregated account. ACH deposits are capped at $10,000 over a 60-day period and require three business days to clear. Checks are no longer accepted. Withdrawal methods are not detailed on the site, but presumably follow similar bank transfer procedures.

Generic Trade specializes in futures and options on futures across major exchanges, including CME Group and ICE. The broker provides exchange minimum margins and aggressive day-trade margins for popular contracts such as currencies, indices, and commodities. The firm’s focus is on US-listed futures, and it does not offer spot forex, CFDs, or equities trading.