NexusFi: Find Your Edge


Home Menu

 





PFGBest Accounts Frozen (PFG scandal big thread)


Discussion in Brokers

Updated
      Top Posters
    1. looks_one Big Mike with 94 posts (100 thanks)
    2. looks_two olobay with 91 posts (76 thanks)
    3. looks_3 nakachalet with 73 posts (22 thanks)
    4. looks_4 ThatManFromTexas with 57 posts (54 thanks)
      Best Posters
    1. looks_one djkiwi with 1.7 thanks per post
    2. looks_two Big Mike with 1.1 thanks per post
    3. looks_3 ThatManFromTexas with 0.9 thanks per post
    4. looks_4 olobay with 0.8 thanks per post
    1. trending_up 259,931 views
    2. thumb_up 588 thanks given
    3. group 66 followers
    1. forum 859 posts
    2. attach_file 81 attachments




 
Search this Thread

PFGBest Accounts Frozen (PFG scandal big thread)

  #181 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, various
Broker: various, TDA
Trading: NQ,ES
Posts: 2,124 since Jul 2011
Thanks Given: 2,396
Thanks Received: 1,748

Hey TMFT, right. TOS platform is separate from NT.

However, TDAmeritrade's feed works with NT currently. So in this case one could get both. I haven't been able to do it personally. Because my old TOS account (pre- TDA merger) doesn't work with NT. I called TOS tech support and they told me I had to start a new TDAmeritrade account in order to have it work with NT

"Supported Brokerage Technology"
NinjaTrader stock, futures and forex charting software and online trading platform. Tour and Features.

Visit my NexusFi Trade Journal Reply With Quote

Can you help answer these questions
from other members on NexusFi?
ZombieSqueeze
Platforms and Indicators
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Request for MACD with option to use different MAs for fa …
NinjaTrader
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Retail Trading As An Industry
58 thanks
Battlestations: Show us your trading desks!
50 thanks
NexusFi site changelog and issues/problem reporting
47 thanks
GFIs1 1 DAX trade per day journal
32 thanks
What percentage per day is possible? [Poll]
31 thanks

  #182 (permalink)
 brevco 
Denham Springs, LA
 
Experience: Advanced
Platform: Amibroker / Ninja Trader
Broker: Mirus Zenfire
Trading: TF 6E NQ
Posts: 194 since May 2010
Thanks Given: 259
Thanks Received: 187

I just spoke to one of Woodies moderators about an hour ago. Woodies chatroom is burning up with comments. Woodie hasn't come up with anything as far as recommending another broker. Woodies broker, PFG Neil (Neal?) used the ID of "PFG Neal" but today I was told it is just "Neal." When Woodie went to the paid version of his chatroom many of his followers dropped off...at $300 a pop ($200 to lease the Woodie Bars and $100 for the chatroom) that's when PFG stopped sponsoring the room but they were still the "favored" brokerage. I also heard that today Woodie was introducing a new "Woodie" bar called NADAX bars. ?? Wonder what that's all about. Maybe hybrid or JAM renkos. I haven't seen them.




aligator View Post
A victim of this whole PFG mess is certainly Woodie's CCI Room, the proud inventor and leaser of Woodie Bars, better known as Median Renko bars. The room was sponsored by PFG and the majority of the members that ever crossed path with Woodie's room had accounts with PFG, including all the cheer leading moderators that praised PFG non-stop. I can only guess that this room was responsible for signing up many hundreds of members with PFG (although maybe for a short time before they blew their accounts).

Will see if the room is attended by members tomorrow. The sad thing is many of the members donated to MAWF, which was a charity of choice for PFG, now I wonder about that too.

Poor guy, how many times can you go broke trading for 37 years and still survive. Got to give it to him.


Reply With Quote
  #183 (permalink)
 brevco 
Denham Springs, LA
 
Experience: Advanced
Platform: Amibroker / Ninja Trader
Broker: Mirus Zenfire
Trading: TF 6E NQ
Posts: 194 since May 2010
Thanks Given: 259
Thanks Received: 187


TDAmeritrade/TOS offers futures and forex but the problem is that their margin requirements are much higher than most other brokerages and that means you have to carry a higher account balance.....more at risk if they have a problem.


ThatManFromTexas View Post
@Cloudy

I know... but I was looking at commonly mentioned firms on futures.io (formerly BMT) that included Ninja Trader or Sierra Charts in their platforms... since a large number of futures.io (formerly BMT) members use those platforms...


Reply With Quote
  #184 (permalink)
 
liquidcci's Avatar
 liquidcci 
Austin, TX
 
Experience: Master
Platform: ninjatrader, r-trader
Trading: NQ, CL
Posts: 866 since Jun 2011
Thanks Given: 610
Thanks Received: 1,091


brevco View Post
TDAmeritrade/TOS offers futures and forex but the problem is that their margin requirements are much higher than most other brokerages and that means you have to carry a higher account balance.....more at risk if they have a problem.

Plus their feed is not fast or robust enough to day trade futures. If taking long term positions works fine but not for intra day stuff.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
Started this thread Reply With Quote
  #185 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, various
Broker: various, TDA
Trading: NQ,ES
Posts: 2,124 since Jul 2011
Thanks Given: 2,396
Thanks Received: 1,748


brevco View Post
TDAmeritrade/TOS offers futures and forex but the problem is that their margin requirements are much higher than most other brokerages and that means you have to carry a higher account balance.....more at risk if they have a problem.

Yes, that's why I started with NT and Mirus since back then futures&forex on TOS pre-merger was lagging and their requirements and fees has always been higher. However, heard that it can be negotiated down for futures. Since the TDA merger and upgrades, currently TOS speed has been greatly improved on their DOM trading. I compared NT/Zenfire and TOS DOM and didn't find any difference in slippage now. Time and sales look exactly the same. Plus for forex, there is the option to use commission based trading instead of by spread. Don't know if it means anything anymore but possibly the higher requirements and fees could mean greater security and oversight at TDAmeritrade.

Maybe someone who's using TDAmeritrade with NT7 daytrading futures could comment..

Visit my NexusFi Trade Journal Reply With Quote
  #186 (permalink)
 mik900 
Ostrava/CZ
 
Experience: Beginner
Platform: NinjaTrader, Tradestation
Broker: Tradestation
Trading: YM, NQ, TF, EMD
Posts: 7 since Apr 2011
Thanks Given: 16
Thanks Received: 2

First MFG(lobal), Now PFG: Who Is Next? | ZeroHedge

Reply With Quote
  #187 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,322 since Jun 2009
Thanks Given: 33,143
Thanks Received: 101,476


kevinkdog View Post
I know I am new here, and many of you do not know me, but I will be on Fox Business Channel's Closing Bell with Liz Claman" at 3 PM EDT today, to give perspective from a PFG account holder.

I figure if it helps people, even a little bit, get their money back, it is worth my time.

Kevin

How did it go? I don't watch TV.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #188 (permalink)
 
harvester's Avatar
 harvester 
Houston, Texas USA
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts, TradeStation, NeuroShell, AmiBroker
Broker: Interactive Brokers, TradeStation, DTN/IQ
Trading: TF, EMD, NQ, CL
Posts: 30 since Mar 2011
Thanks Given: 12
Thanks Received: 91

I'm coming a little late to this thread, but wanted to share what I know about the situation. The first thing I should mention is that I closed my PFG account last February and opened an IB account to trade futures on MultiCharts. It's looking like that was a timely move.

I had originally setup my account up with PFGBest as part of their relationship with NeuroShell. They had a free autotrading interface on an API that PFG provided. I ended up doing a whole lot of work to get this setup, and actually re-wrote their entire help file and documentation on using this setup. The API was very clunky, and over time I more or less gave up on it. NeuroShell can also autotrade on IB, but you have to pay $70 a month to some guy who wrote an interface to them. The only difference was it worked, and the PFG thing didn't.

So I had funds sitting there in PFG for quite a while doing nothing, until I pulled the trigger and moved it. The sales person at PFG was a little disappointed, and left the door open for my return (i.e. I have an open account, but $0 deposited). I just spoke with my sales person at PFG, and he is in shock. He knew the CEO almost on a personal level and said his world is now turned upside-down. He was officially laid off as of yesterday, and said the entire company is now in receivership. I asked him what he was going to now - his response: "I think I'm finished with the futures business". This is coming from someone who I think is a genuine person with a great character. He went on to say: "After this, who can you trust?"

-harvester

Reply With Quote
The following user says Thank You to harvester for this post:
  #189 (permalink)
 
madLyfe's Avatar
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
Posts: 1,641 since Feb 2011
Thanks Given: 9,220
Thanks Received: 1,020


Big Mike View Post
How did it go? I don't watch TV.

Mike

i watched! kevdog the man!

sorry to make light of the situation you guys are in.. i mean you did well on tv..

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
Visit my NexusFi Trade Journal Reply With Quote
  #190 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,322 since Jun 2009
Thanks Given: 33,143
Thanks Received: 101,476



madLyfe View Post
i watched! kevdog the man!

If there is a video, I'd like to check it out.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote





Last Updated on April 6, 2016


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts