Cannon Trading 2025 Review: Everything You Need to Know
Cannon Trading, a well-established brokerage firm since 1988, has garnered mixed reviews from users and experts alike. While the company is recognized for its competitive commission rates and a range of trading platforms, there are notable concerns regarding its customer service and regulatory status. This review synthesizes key insights from various sources to provide a comprehensive overview of Cannon Trading.
Note: It is important to consider that different entities may operate under similar names across various regions. This review aims to provide a fair and accurate assessment based on the available information.
Ratings Overview
How We Rate Brokers: Our ratings are derived from a combination of user feedback, expert analysis, and factual data regarding the broker's offerings.
Broker Overview
Cannon Trading Company, Inc. was founded in 1988 and is headquartered in Los Angeles, California. The firm primarily operates as a futures and options brokerage, offering a variety of trading platforms, including NinjaTrader, OEC Trader, and their proprietary Cannon Pro platform. Cannon Trading focuses on futures and options, providing access to various asset classes, including commodities, energy, and equity indices. The broker is regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC), which adds a layer of credibility to its operations.
Detailed Section
Regulatory Areas
Cannon Trading is regulated in the United States by the NFA and CFTC, ensuring compliance with strict financial standards. However, some reviews have raised concerns about the broker's trustworthiness, indicating that it may not always operate transparently. According to WikiFX, there are suspicions surrounding the legitimacy of its regulatory claims, labeling it a "suspicious clone."
Deposit/Withdrawal Methods
The primary method for funding accounts at Cannon Trading is through wire transfers. While this method is secure, it may limit accessibility for some users. The minimum deposit required for self-directed accounts is reported to be around $2,500, although some sources suggest it could be higher depending on the account type. Notably, users have expressed frustration regarding the lack of clarity around withdrawal policies, with some reviews indicating delays in processing withdrawal requests.
Minimum Deposit
Cannon Trading's minimum deposit requirements vary by account type. For self-directed accounts, the minimum is approximately $2,500, while other account types may have different requirements. However, several reviews suggest that users should consult directly with Cannon Trading representatives for precise figures.
There is little information available regarding specific bonuses or promotional offers at Cannon Trading. The firm seems to focus primarily on providing competitive commission rates rather than promotional incentives.
Tradable Asset Classes
Cannon Trading offers access to a wide array of asset classes, including energy futures (like crude oil and natural gas), metal futures (such as gold and silver), agricultural products, and equity indices. However, it does not provide access to stocks, ETFs, or cryptocurrencies, which may limit options for some traders.
Costs (Spreads, Fees, Commissions)
The commission structure at Cannon Trading is competitive, with rates starting as low as $0.18 per side for high-volume traders. However, users should be aware that additional exchange and NFA fees may apply. Some reviews noted that while the commission rates are appealing, hidden costs could arise depending on the trading platform used.
Leverage
Leverage options at Cannon Trading are reportedly available but vary by account type and trading strategy. Users are encouraged to consult with the broker for specific leverage details, as this can significantly impact trading strategies.
Cannon Trading supports multiple trading platforms, including popular options like NinjaTrader and OEC Trader, as well as its own Cannon Pro platform. This variety caters to different trading styles and preferences, enhancing the overall user experience.
Restricted Regions
Cannon Trading primarily serves clients in the United States, although it may accept clients from other regions. However, potential users should verify their eligibility based on local regulations.
Available Customer Service Languages
Cannon Trading offers customer support primarily in English. While this may suffice for most users, non-English speakers may find this limiting.
Ratings Revisited
Detailed Breakdown
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Account Conditions (6/10): The minimum deposit requirements and account types are somewhat flexible, but users have reported a lack of clarity in policies.
Tools and Resources (7/10): Cannon Trading provides a range of platforms and educational resources, including webinars and market analysis.
Customer Service and Support (5/10): While some users praise the personalized support, others have reported delays and issues with responsiveness.
Trading Experience (6/10): The variety of platforms enhances the trading experience, but concerns about the reliability of services have been noted.
Trustworthiness (5/10): Mixed reviews regarding regulatory compliance and user experiences contribute to a lower trust rating.
User Experience (6/10): The overall user experience is average, with room for improvement in website navigation and clarity of information.
Additional Features (6/10): The availability of various trading tools and educational resources is a plus, but the lack of promotional offers is a downside.
In summary, Cannon Trading presents a mixed bag of features and services. While the firm has a solid history and offers competitive commissions, potential users should weigh the concerns regarding customer service and regulatory transparency before proceeding.
