Ready to place a futures trade but don't know where to start? Well, if you already know how to place an order for a stock or ETF, then it's very similar. Below are the instructions for placing a futures order on all three trading platforms. Furthermore, placing an options on futures trade is the same as placing an options trade for a stock or ETF. However, keep in mind that not all futures contracts have options available.
GTC orders for futures cannot be cancelled when the market is closed or between sessions. For example, a GTC order on an /ES future cannot be cancelled between the hours of 4:00pm-4:50pm CST. When the market is in between sessions orders cannot be cancelled from 4pm CST on Friday until 4:50pm CT on Sunday when order routing for CME futures starts back up. Additionally, GTC orders cannot be cancelled during the CME's no cancel periods which a 30 seconds before the market opens at 5pm CT.
Only margin accounts with The Works may enable futures trading. IRA accounts must have IRA The Works and meet
Futures trading requires a margin account with our highest trading level, The Works, to enable futures trading. IRA accounts must have IRA The Works to enable futures trading.
How to build a futures trade in the desktop platform
To place a futures order on the desktop trading platform, first, start by entering the futures symbol at the top of the platform. After entering the symbol, the quote will appear (yellow box). Now it's just a matter of clicking the bid or ask price. By entering the futures root symbol, the platform will populate the active (front) month quote. To learn how to trade back months, please click here.
- Long a future: Click the Ask (green box)
- Short a future: Click the Bid (red box)
Image of bid and ask on desktop platform header
After clicking the Bid or Ask price, you will enter the Trade Tab, and an order ticket will appear below. There, you can adjust your quantity, price, and order type (yellow box). Currently, futures can only be routed as a Day or GTC order. GTD orders are not available. Once ready, click Review and Send.
Image of desktop platform futures order ticket
Furthermore, if you're an active futures trader then you can also quickly set up futures orders by using our Active Trader Interface, which is purpose-built for active futures traders. For more information about Active Trader, please click here.
Web Browser Platform
To place a futures order on the web browser trading platform, first, start by entering the Trade tab. Once the trade window appears, click stock mode, as illustrated below.
Image of stock toggle on web browser platform
Start with entering the futures symbol (yellow arrow). Next, click Buy to Open to go long or Sell to Open to go short (orange box). Then, indicate the price and quantity (green box). Finally, select an order type (blue box). Currently, futures can only be routed as a Day Order or GTC order. GTD orders are not available. Once ready, click Review and Send.
Image of futures order ticket on web browser platform
How to build a futures trade in the mobile platform
To place a futures order on the mobile platform, please refer to the slide show below.
- Navigate to the Trade tab.
- Once in the Trade tab, enter the futures symbol and select it from the list below.
- After choosing the futures symbol, tap the Futures trade mode
- When in the Futures trading mode, you can enter your order details such as buy/sell (long/short), price, quantity, and order type. Currently, futures can only be routed as a Day Order or GTC order. GTD orders are not available.