Edge Clear ReviewCategory: Reviews | Author: Trading Brokers | Date: December 17, 2023
Edge Clear is a relatively new online broker that specializes in futures trading. The platform was designed by a team of industry experts who understand the complexities of trading and aim to provide a blend of top-tier technology and service. Edge Clear’s team brings together a wealth of technical and practical trading experience, applying this knowledge to meet the challenges and requirements of their clients. They strive to build innovative, cost-effective solutions that support a sustainable trading journey. In this article, we’ll explore the features and services offered by Edge Clear, providing a comprehensive review to help you understand what this broker brings to the table.
Pros & Cons
- Edge Clear offers a user-friendly and feature-rich trading platform, EdgeProX
- The broker has a strong focus on customer service, as evidenced by positive client reviews
- They provide a variety of account types to cater to different traders
- The broker does not have a dedicated education section on their website
- Edge Clear is a relatively new player in the market, and there are other brokers with longer track records
- The specific instruments offered for trading are not explicitly mentioned on the Edge Clear website
Edge Clear is a futures broker that’s all about providing a top-notch trading experience. They’ve got a user-friendly and feature-rich trading platform, EdgeProX, that’s designed to cater to the diverse needs of futures traders. Whether you’re a seasoned trader or just starting out, EdgeProX has got you covered with its advanced analytics capabilities and beautiful charts.
But that’s not all. Edge Clear also offers a variety of account types. They’ve partnered with various Futures Commission Merchants (FCMs) to ensure that there’s an account type to suit every trader. Whether you’re a U.S. citizen, a resident alien, or a foreign citizen, Edge Clear has an account for you.
One of the things that stands out about Edge Clear is their focus on customer service. They’ve received positive reviews from their clients, which is a testament to their commitment to providing excellent service. They’re all about transparency, integrity, and having their clients’ best interests at heart.
Edge Clear is a registered introducing broker with the Commodity Futures Trading Commission (CFTC) and is also a member of the National Futures Association (NFA). These are key regulatory bodies in the United States that oversee the derivatives markets, including futures trading.
Being registered with the CFTC and a member of the NFA means that Edge Clear is subject to stringent regulatory requirements, which typically include capital adequacy standards, compliance with reporting requirements, and adherence to certain conduct and ethical standards.
It’s always a good idea to consider a broker’s regulatory status before opening an account, as it can provide a level of security and peace of mind. If you’re exploring your options and looking for additional brokers that are regulated, please see a list of regulated brokers for some alternative options.
Platforms & Tools
Edge Clear offers a suite of platforms and tools designed to cater to the diverse needs of futures traders. Let’s take a closer look at each of them:
- EdgeProX: This is Edge Clear’s flagship futures trading platform. It’s feature-rich, user-friendly, and highly customizable. The platform is known for its beautiful charts and advanced analytics capabilities. EdgeProX runs on the Rithmic or CQG feed and also supports IQFeed. It’s designed to take advantage of the MBO feed to provide full depth, actual Place-In-Queue, size of resting limit order, and priority. The software is compatible with Windows, macOS, and Linux operating systems. Users have praised Edge Clear for its superior quality trade software and tools, as well as its responsive customer service.
- EdgeQX: EdgeQX brings you a slick set of quant-fund strategies, all seamlessly operated by our automated program. It’s like having a trading wingman for your own investments. We’re into intraday futures trading, keeping things sharp. Managed by the quant-savvy folks at InvestiQuant, it offers real-time trades and a transparent wrap-up at the end of the day. Want in? It’s a subscription game on an annual basis.
- EdgeWATCH: It is an innovative financial performance software meticulously designed to gauge performance metrics, organize trades, meticulously track performance trends, and furnish advanced statistical insights, ensuring a comprehensive approach to optimizing your financial endeavors.
Edge Clear provides a variety of educational resources to help traders at all levels. Here’s a rundown of what they offer:
- YouTube Channel: Edge Clear maintains a YouTube channel where they share insightful content. For example, they have a video titled “Trading Indicators with EdgeProX,” which is a discussion between Daniel Sinnig of Trading and a representative from Edge Clear.
- Website Information: The Edge Clear website itself is a valuable resource. It includes a section where they compare different futures and options trading platforms. This can be particularly useful for traders trying to decide which platform best suits their needs.
Please note that while Edge Clear does not have a dedicated education section on their website, the information they provide through their YouTube channel and website can be quite valuable for both novice and experienced traders.
Edge Clear is primarily focused on futures trading, offering a range of products across various asset classes. Their website highlights futures products in areas like equity indexes, energies, metals, agricultural commodities, and cryptocurrencies. For example, they mention popular futures contracts such as the Micro E-Mini S&P 500, Micro E-Mini NASDAQ, Micro E-Mini Dow, and Micro E-Mini Russell 2000 under their low micro indices rates section.
Edge Clear provides access to a number of major futures exchanges. This includes the Chicago Mercantile Exchange (CME), the Intercontinental Exchange (ICE), and the Eurex. These exchanges are where the futures contracts are actually traded. Each exchange offers different contracts, and the contracts themselves can vary in terms of the underlying asset, contract size, tick size, and expiration date. Their account types and technology infrastructure seem oriented toward more active and professional traders seeking direct market access.
Edge Clear partners with various Futures Commision Merchants (FCMs) to offer different types of accounts. Here’s what you need to know:
- Individual U.S. Citizen or U.S. Resident Aliens Account: To open this type of account, you’ll need to provide a thoroughly completed and properly signed account form. If you’re employed by a broker-dealer, futures commission merchant (FCM), bank, or insurance company, you’ll also need a letter from your employer consenting to the account opening. And of course, you’ll need to provide a copy of your driver’s license, passport, or other government-issued ID.
- Foreign Citizen Account: For foreign citizens, the requirements are pretty much the same as for U.S. citizens. You’ll need to provide a thoroughly completed and properly signed account form, a copy of your passport or other government-issued ID, and if you’re employed by a broker/dealer, futures commission merchant (FCM), bank, or insurance company, a letter from your employer consenting to the account opening. If you’re located in either a non-cooperating Financial Action Task Force (FATF) country or a country that is not a FATF cooperating country, you’ll also need to provide a copy of a current bank statement or utility bill.
Remember, the type of account you choose should align with your trading goals and needs. And if you have any questions or need help selecting an FCM, the folks at Edge Clear are there to help.
When it comes to funding your trading account with Edge Clear, they’ve got some pretty clear rules in place. Due to anti-money laundering rules, funds for your trading account can only come from a bank account in the name of your Futures account with Edge Clear. This means you can’t use someone else’s bank account to fund your trading account. It’s all about keeping things transparent and above board.
Edge Clear accepts wire transfers, both domestic (US) and international wire transfers. However, you cannot fund an individual brokerage account with a corporate bank account. Also, if you are funding from a joint bank account with a spouse or relative, additional confirmation may be required to deposit funds to an individual Futures account.
So, there you have it. Edge Clear is a forward-thinking futures broker that offers a range of features, from a user-friendly trading platform to a variety of account types. They’ve got a strong focus on customer service, and it shows in the positive reviews they’ve received from their clients. They’re all about transparency, integrity, and having their clients’ best interests at heart. However, it’s worth noting that while Edge Clear offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading brokers reviews.
In the end, the choice of a broker comes down to what fits your trading style and goals the best. So, take your time, do your research, and make sure you’re comfortable with your decision.