FAQ

FAQ

You’ve got questions. We’ve got answers. And the answer to your question might already be in one of the sections below.

A: 1099s are required to be mailed prior to January 31 of each year.

A: The 1099-Bs are mailed to clients during the first week of February.

A: Report the amount on Line 11 for profit and losses on futures and futures option contracts.

A: A loss is enclosed by parentheses. If the figure on Line 11 is in parentheses, you will report a loss for the year.

A: Profits or losses are realized when a futures position is closed. Profits and losses are unrealized when a futures or futures option position is open at the end of the year. The amount of unrealized futures profit or loss is the difference between the initial purchase or sale price and the settlement value of the position on the last trading day of the year. The unrealized option profit or loss is the net option valuation on the last trading day of the year.

A: The option premium paid or received from an option is included in Line 8, Profit (Loss) Realized on Futures Options. The value of the option at December 31, 2013 is included in Line 10, Total Unrealized P/L Converted to USD on Options.

A: If you had open positions at the end of 2013, your unrealized profit or loss for those contracts will be shown on Line 10. If you had open positions at the end of 2012, your unrealized profit or loss for those contracts will be shown on Line 9.

A: The profit or loss on Line 11 equals the 2013 realized profit or loss on Line 8 plus the 2013 unrealized profit or loss on Line 10 minus the 2012 unrealized profit or loss on Line 9. You subtract the amount on Line 9 to avoid double counting of amounts already reflected on your 2012 return.

A: The IRS allows us to issue Form 1099-B or a substitute form that contains identical information.

A: If you have transactions reported as Gross Proceeds, you have conducted some type of cash market or securities futures product trading during the year. Common types of cash market trading include selling a U.S. Treasury instrument or making a delivery of a cash commodity such as corn or silver. For cash market transactions, the Gross Proceeds section reflects the cash received. You are responsible for determining the original cost basis and any gain or loss. However, for security futures products, both the purchase and sale proceeds are included in the Gross Proceeds section.

A: Security futures products are reported on a gross proceeds basis and are considered short-term capital gains or losses for tax reporting. Both the purchase and sale proceeds are included in the Gross Proceeds section.

A: The IRS only allows us to deduct from your futures/options profit (loss) those commissions and fees directly related to the executed transactions. Management fees paid to a trading advisor, monthly payments for leasing electronic trading software, or other similar cash payment items are not considered directly related to the transaction and do not reduce the trading profit (loss) reported in your 1099-B. These items may be considered as business expenses. Please consult your tax advisor as to the proper treatment of these expenses on your tax return.

A: You will most likely need IRS Forms 6781 and Schedule D. Questions about these forms should be directed to your tax advisor or the IRS.

A: You may request a duplicate through your broker, or call RCG’s 1099 hotline at 312-795-7849. You may also email your questions and/or requests to rcg1099@rcgdirect.com.

A: You may request monthly statements through your broker, or call RCG’s 1099 hotline at 312-795-7849. You may also email your questions and/or requests to statements@rcgdirect.com. There will be a fee of $5.00 per statement for this request.

A: There could be several reasons. If your account is a corporate account, the IRS does not require us to issue a 1099. (You are, however, required to report any income or loss on your corporate return. Your monthly statements provide this information.) If there was no activity in your account for the year, we also would not issue a 1099. If you moved or your address was incorrect, you may not have received the 1099 we mailed to you. Please send address changes with the signature(s) of all account owners to Rosenthal Collins Group, L.L.C., Compliance Department, 216 W. Jackson Blvd., Suite 400 Chicago, IL 60606 or fax us at 312-795-7937.

A: RCG has a 1099 hotline at 312-795-7849. We try to answer all calls during regular business hours. If you leave a message, we will call you back within 48 hours. You may also email your questions and/or requests to rcg1099@rcgdirect.com.

A: Rosenthal Collins Group, L.L.C. (or “RCG®” as we are commonly known) is a Futures Commission Merchant (FCM) registered with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Originally established in 1923 as Greene and Collins, Rosenthal Collins Group is one of the largest independently owned FCMs.

A: Leslie Rosenthal and J. Robert Collins are our founders and managing members. You can find more information on our Management Team page. Both learned the business from the ground up. Les started his own firm, Rosenthal & Co., after many years in the futures brokerage business, while Bob joined his family’s brokerage firm, founded in 1923 as Greene and Collins. The two brought their companies together as Rosenthal Collins Group in 1988. The company remains primarily family owned.

A: Rosenthal Collins Group serves everyone from those who are new to trading futures to experienced professionals to commercial accounts. Whether you have an interest in hedging, speculating, asset allocation, day trading or position-holding, we work with the full spectrum of futures clients.

Learn more about our client base and how we may best serve your needs in the Our Services and Our Clients sections.

A: Please contact our general line at 312-795-7770 or email us at info@rcgdirect.com – Monday through Friday from 8 am – 5 pm (Central).

A: Our philosophy always has been to offer the highest levels of transparency to our customers and the public. We post a daily chart on our website that describes the allocation of customer segregated funds among the various instruments in which the firm invests. Click here to see the latest chart. For more information on customer segregated funds, and other customer protections, please click here.

A: Yes. Click here to view the 2013 audited Financial Statements of Rosenthal Collins Group.

A: If you need to reset your RCG Passport password, please click on the “Forgot Your Password” link on the RCG Passport login screen. For additional support, please contact your broker, or email us at passport@rcgdirect.com

A: Click here or on our Twitter icon in the website’s footer.

A: Please contact your broker if you have questions about your statements. Or, email us at customerservice@rcgdirect.com.

A: You’re sure to find a trading platform that suits you at Rosenthal Collins Group. Besides our own RCG Onyx Plus®, we offer many other leading platforms used by individual, institutional, professional and high-frequency traders. Click here to view our platforms.

A: If there is a platform that is not listed on our website that you would like to use, we would be happy to discuss other options with you. Please contact your broker, or email us at info@rcgdirect.com.

A: At Rosenthal Collins Group, you have access to the world’s leading exchanges. For a complete list of the exchanges we support, click here.

A: RCG Onyx Plus is one of the industry’s leading futures trading platforms. Developed and supported by Rosenthal Collins Group, this downloadable application provides traders the advanced tools they need to trade global products electronically.

RCG Onyx Plus was developed from extensive input from traders, brokers and developers and provides exceptional speed, stability, resilience, redundancy and functionality.
Download a Demo Today!

A: If you have tried to reset your system and are still having problems, please contact ehelp@rcgdirect.com or your broker.

A: Yes. We offer a free, two-week trial with our trading platform – RCG Onyx Plus. Visit the RCG Onyx Plus page for more information.

A: RCG Passport is an invaluable, online resource for both brokers and clients, providing up-to-date information on all trading account activity. Electronic trades are displayed within minutes of trade execution, and open-outcry trades are displayed within minutes of key punching on the floor.

To receive access to RCG’s Passport system, please e-mail us at passport@rcgdirect.com or download the consent form.

A: Check out our online tool, Archive, which allows IBs and clients to retrieve historical daily and monthly statements up to five years prior. You may easily print or email your past statements for your own records. If you are already set up for access on RCG Passport, you are automatically approved for access to RCG Archive, using your Passport login information. If you have any questions regarding Archive, please contact your broker or email us at passport@rcgdirect.com.

To access RCG Archive, please click here.

A: Please email rcgcommentary@rcgdirect.com and fill out the market commentary request form or contact your broker directly.


A: Our online account application can be completed in minutes. We provide the highest levels of security and privacy when your personal information is transmitted online, as we use encryption methods, authentication procedures, network level security practices (i.e., firewalls) and periodic application security reviews. In fact, more than 95% of our new clients use this convenient method of submitting their account application.
For a quick overview of the online account opening process before you start, please click here.
To open an account, please click here to be directed to our online application.

A: Yes. You may download and print our account forms here. Once printed, please read the documents carefully, provide all necessary information, and sign where required. Return the signed documents to your broker or send them directly to us. Please be sure to put the name of your broker on the cover page of the account form.

Send paper applications to RCG’s New Accounts Department at 216 W. Jackson Blvd. Suite 400, Chicago, IL 60606; OR you can fax them to our New Accounts Department at 312-795-7948.

A: Please fill out the RCG Account Information Change Form and email it to statements@rcgdirect.com; or fax it to 312-795-7948; or contact your broker.

A: Yes, but along with your application, you will need to provide the following:

  • Thoroughly completed and properly signed account forms.
  • Copy of your passport or other government-issued ID.
  • Signed copy of the Foreign Certification form.
  • If you are employed by a broker/dealer, FCM, bank or insurance company, a letter from your employer consenting to the account opening.
  • If you are self-employed in trading, investments or other financial services, a Personal Funds Letter is required stating that you are investing your own personal funds and that no funds from other individuals will be solicited or deposited.
  • If you are located in either a non-cooperating Financial Action Task Force (FATF) country or a country that is not a FATF cooperating country, a copy of a current bank statement or utility bill.
  • If requested, other documentation showing proof of residency or citizenship.

A: Please work with your broker directly on the transfer of accounts from other FCMs.

A: You can fund your account by wire transfer, ACH, check and U.S. Treasury securities.
See our Account Funding page for more information.

A: Yes. You may fund your account with a personal, cashier or certified check from a U.S. bank made payable to “Rosenthal Collins Group.”
• Include your Rosenthal Collins Group account number on the memo line.
• Mail to either your broker OR Rosenthal Collins Group Treasury Department at 216 W. Jackson Blvd., Suite 400, Chicago, IL 60606.
• Do not mail your check to Harris Bank.

You may begin trading once confirmed funds have been received by our bank, which can take up to 10 business days.

See our Account Funding page for more information.