Cannon Trading

Cannon Trading Information

Cannon Trading, established in 1988, is a brokerage firm based in the United States that operates under a suspicious clone license issued by the National Futures Association (NFA). Despite these regulatory concerns, Cannon Trading offers a wide range of brokerage services for self-directed online traders, broker-assisted traders, professional traders, institutions, hedgers, and international clients. They also provide diverse account options and numerous trading platforms.

Pros & Cons

Pros:

Wide Range of Trading Services: Offers comprehensive services including futures and options trading, managed accounts, and algorithmic trading.

Diverse Selection of Trading Platforms: Supports multiple platforms like Sierra Charts, TradingView, and MetaTrader 5.

Competitive Commission Structure: Features a tiered commission structure based on trading volume, offering competitive rates starting from $0.74 per side for high-volume traders.

Extensive Educational Resources: Provides a robust suite of educational resources including trading charts, daily research, and guides on trading strategies and market insights.

Global Client Access: Welcomes international clients and accommodates foreign introducing brokers.

Cons:

Regulatory Concerns: Operates under a suspicious clone license issued by the National Futures Association (NFA).

Minimum Account Balances: Requires minimum starting account balances ranging from $200 to $5,000 depending on the trading platform, limiting accessibility for smaller investors.

Additional Fees: Platform and transaction fees are applied, which increases trading costs beyond the base commission rates.

Limited Transparency on Leverage and Spread: Information on leverage and spread details is not specified, which is crucial for traders evaluating risk and cost-effectiveness of trading with Cannon Trading.

Is Cannon Trading Legit？

• Regulatory sight: Currently, Cannon Trading has the sole authority of a suspicious clone license under the Common Financial Service of the National Futures Association (NFA), bearing the license number 0216708 in the United States. This type of license, which allows a company to mimic the services of a legitimate financial entity.

Services

Cannon Trading provides a wide range of brokerage services. Their offerings include services for self-directed online traders and broker-assisted traders. They serve both professional traders and institutions, in addition to hedgers who seek to mitigate risk.

Cannon Trading supports futures trading systems and managed accounts, including algorithmic trading options. International traders are welcomed, and the firm accommodates foreign introducing brokers and provides specialized services as a Korean futures broker.

Accounts

Cannon Trading offers diverse account options through IronBeam, Gain Capital/StoneX, Phillip Capital, and Dorman Trading. These accounts support futures and options trading, with some excluding naked options.

IronBeam is notable for its aggressive margins and Mac compatibility, while Gain Capital/StoneX provides a free in-house platform and world-class research. Phillip Capital offers extensive access to US and international exchanges, and Dorman Trading is recommended for active MICRO futures traders.

All platforms support multiple trading interfaces, including T.T., CQG, Sierra Teton, Rithmic, and more, with mobile app options available. Minimum starting account balances range from $200 to $5000, with US, international, and Canadian clients (directed to IronBeam) all welcome.

How to Open an Account？

• Step 1: Click the button ''OPEN AN ACCOUNT'' on the homepage.

• Step 2: Follow the on-screen instructions to input your personal and contact details.
• Step 3: Click on the ''Create Account'' option to finalize the creation of your account.

Commissions

Cannon Trading offers a tiered commission structure based on monthly trading volume.

For new self-directed accounts opened after November 14, 2023, with a minimum balance of $10,000, the rates per side start at $0.74 for volumes between 1 and 1,000, and decrease incrementally to as low as $0.18 for volumes above 50,000. For micro contracts, the rates range from $0.29 to $0.12 per side. These rates exclude applicable exchange and NFA fees.

Additional platform and transaction fees are applied depending on the chosen trading platform. Accounts with less than $10,000 still benefit from a competitive commission schedule.

However, these rates do not apply to users of the free E-Futures Intl platform. Higher rates are applicable for services such as access to a personal broker, email alerts, mobile access, broker opinions, options premium selling, and special risk monitoring.

Trading Platforms

Cannon Trading offers a diverse range of trading platforms, including day trading, order flow, futures, options, and forex trading.

For day trading and order flow analysis, platforms like Sierra Charts, Cannon Pro (Mac compatible), Volumetrica Trading, MultiCharts, TradingView, Overcharts, Bookmap, MarketDelta, MotiveWave (Mac compatible), Trade Navigator, and MT5 are available. Additional trading platforms include API and Quantower.

For futures and options trading, Cannon Trading provides E-Futures, FireTip (Mac compatible), CQG, RTrader/Rithmic, CTS T4 (for futures spreads), AgenaTrader, eSignal, Ensign Software, QT Market Center, BarChart Trader, iSystems Automated Trading Platform, and Investor/RT.

Forex traders can use MetaTrader 5, while options traders have access to OptionVue, CTS Options Pro (for options spreads), and Option Workshop. For mobile trading, Cannon Trading supports iBroker, QST Mobile, CTS T4 Mobile, and RealTick Mobile.

Customer Service

Cannon Trading's support team can be reached through:

• Phone: (800) 454-9572, (310) 859-9572
• Fax: (310) 859-0547
• Email: info@cannontrading.com
• Address: Cannon Trading Company, 12100 Wilshire Blvd, Suite 1640, Los Angeles, CA 90025
• Live chat

Education

Cannon Trading offers detailed trading charts to help traders recognize patterns, access free futures quotes, and utilize premium charting tools. Additionally, they provide live audio breaking news and daily research updates, along with a futures trading calendar.

For deeper trading insights, they offer guides on daily support and resistance levels, trading weekly mini S&P 500 options, and day trading strategies for various futures. Educational articles cover essential topics such as the differences between trading futures versus ETFs and stocks, successful trading steps, and key trading rules.

Cannon Trading also provides resources on specific contract specifications for various commodities and indices, including crude oil, E-mini S&P 500, Eurodollar, and micro Bitcoin futures, among others. Their offerings are rounded out with the Futures Forthright eBook and resources from the Small Exchange.

Q&A

Is Cannon Trading regulated？

No. It currently only holds a suspicious clone NFA license.

Does Cannon Trading offer demo accounts？

Yes.

What services does Cannon Trading offer？

Cannon Trading provides self-directed online trading, broker-assisted trading, professional trading, institutional trading, hedging, futures trading systems, managed accounts, algorithmic trading, and services for international traders and foreign introducing brokers.

What trading platforms are available with Cannon Trading？

Sierra Charts, TradingView, MetaTrader 5, FireTip, CQG, RTrader/Rithmic, CTS T4, AgenaTrader, eSignal, and many more.

Are there any additional fees？

Yes, additional platform and transaction fees are applied based on the chosen trading platform. Rates can also be higher for services such as access to a personal broker, email alerts, mobile access, broker opinions, options premium selling, and special risk monitoring.

Is Cannon Trading a good broker for beginners？

No. It is not a good choice for beginners because of its suspicious clone NFA license.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.