Investor education
Insights & education.
A primer series for equity investors who are new to futures: what the instrument is, who regulates the advisor, how a managed account works, and when none of this is the right tool.
01The instrument
Why Futures?
What an equity index futures contract actually is: margin, the Section 1256 tax treatment, capital efficiency, liquidity, and the full cost picture.
Read02The advisor
What Is a CTA?
The futures-market equivalent of a registered investment adviser: what a CTA and a CPO each do, how roles differ from structures, how the advisor charges, and how to verify a firm in thirty seconds.
Read03The structure
The Separately Managed Account
Your own account, your own name, at the brokerage. How the money and the authority actually flow, and how you get out.
Read04Suitability
When It’s Not the Right Tool
Futures managed accounts are not for everyone. Four situations where the answer is no, and what belongs in those portfolios instead.
ReadThis series is educational material for investors. It is not an offer or solicitation, presents no performance of any Saratoga trading program, and is not tax, legal, or accounting advice. Saratoga’s program itself is available exclusively to Qualified Eligible Persons under CFTC Regulation 4.7.