NexusFi: Find Your Edge


Home Menu

 





Zenfire no more?


Discussion in Brokers

Updated
      Top Posters
    1. looks_one NinjaTrader with 77 posts (161 thanks)
    2. looks_two Balanar with 56 posts (29 thanks)
    3. looks_3 WolfieWolf with 48 posts (50 thanks)
    4. looks_4 mattz with 44 posts (51 thanks)
      Best Posters
    1. looks_one NinjaTrader with 2.1 thanks per post
    2. looks_two mattz with 1.2 thanks per post
    3. looks_3 tderrick with 1.1 thanks per post
    4. looks_4 WolfieWolf with 1 thanks per post
    1. trending_up 380,794 views
    2. thumb_up 1,048 thanks given
    3. group 133 followers
    1. forum 1,210 posts
    2. attach_file 12 attachments




 
Search this Thread

Zenfire no more?

  #741 (permalink)
 osky1 
Buenos Aires
 
Experience: Beginner
Platform: ninja trader
Trading: ES
Posts: 10 since Nov 2010
Thanks Given: 0
Thanks Received: 2

Is a good decition?

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Exit Strategy
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
 
  #742 (permalink)
 
WolfieWolf's Avatar
 WolfieWolf 
Charlottetown, Prince Edward Island
 
Experience: Advanced
Platform: Ninja
Broker: Optimus - Rithmic
Trading: GC
Posts: 232 since Jul 2010
Thanks Given: 100
Thanks Received: 272


osky1 View Post
Is a good decition?

Fantastic decision.

Reply With Quote
Thanked by:
  #743 (permalink)
 
schroedray's Avatar
 schroedray 
Norwalk, Iowa
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage/Arrowfield/Kinetick/Rithmic/DtnIQ
Trading: ES, CL, YM, NQ
Posts: 41 since Mar 2010
Thanks Given: 37
Thanks Received: 32



romulus View Post
Just had a civil chat with Matt @ Optimus, and liked him. Among the questions I asked, was who clears for Optimus. He answered Vision Financial. I then Googled Vision, as of course, proprietary trading questions, and co-mingling issues were a warning to all futures traders with MFGlobal etc.

Does your broker do any proprietary trading? When a big position blows up, do they go looking for client funds to bail them out? Serious question, unless you want to wake up one day and discover a much worse scenario than Mirus customers are currently facing.

Sadly, the following, from the CFTC gives me significant pause. You can read it for yourselves.

CFTC Orders Vision Financial Markets LLC to Pay a $525,000 Penalty for Violations of Customer Fund Segregation Requirements, Failure to Notify the CFTC of its Under-Segregation, and Misstatements to the CFTC

"CFTC Orders Vision Financial Markets LLC to Pay a $525,000 Penalty for Violations of Customer Fund Segregation Requirements, Failure to Notify the CFTC of its Under-Segregation, and Misstatements to the CFTC"

This is disappointing to say the least. And unfortunately all too clear..

Has AMP had a similar sanctioning? Valid question. I'll be investigating this as well. And so should all of you.


I was with PFG... only they didn't get caught until it was too late. What to do, I also was looking at optimus. Glad I am a member here at futures.io (formerly BMT), you guys are great at catching these kind of indiscretions, wish I could have saved my PFG account, but didn't see that one coming.

Reply With Quote
  #744 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
Thanks Given: 2,440
Thanks Received: 3,789


schroedray View Post
I was with PFG... only they didn't get caught until it was too late. What to do, I also was looking at optimus. Glad I am a member here at futures.io (formerly BMT), you guys are great at catching these kind of indiscretions, wish I could have saved my PFG account, but didn't see that one coming.

I was solicited by PFG. They offered me the moon and the stars as an IB and I opted out.
I saw decreasing volumes on the exchange ,low interest rates, low commissions and yet they were building an 18 million dollar building in Iowa when the rest of us "bled". They had the SFO magazine, nice piece of glossy brochure, yet publishing business was suffering. There were early warning signs.

Big firms get fines. Check all the big ones..PLEASE DO! It does not mean that they are going bankrupt, it means they need to change procedure. Big firms will get hit all the time in my personal opinion.
Besides fines, check for net-cap, who has membership on the exchange, etc

Just like yourself, I am also concerned because my livelihood depends on the clearing firm. I saw in the last decade Refco, MF, PFG, etc and none of my customers affected while I was with Vision.

Go with who ever you feel comfortable.

Matt

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Reply With Quote
Thanked by:
  #745 (permalink)
 
slickiam's Avatar
 slickiam 
Tomsk, Russia
 
Experience: Beginner
Platform: custom
Trading: gold
Posts: 273 since Dec 2010
Thanks Given: 133
Thanks Received: 435


osky1 View Post
Is a good decition?

In case you are looking for the most professional team among the Rithmic-based solutions - the answer is Yes.

Scientia Libertas Prosperitas
Reply With Quote
Thanked by:
  #746 (permalink)
jaytrades
New York, USA
 
Posts: 80 since Jun 2011
Thanks Given: 22
Thanks Received: 83

I also considered PFG 4 years ago, I can't remember exactly what caused me to not go with them. Maybe becuase they kept contacting me so much and at the time I took a quick peek at Woodie's, if anyone remembers that guy... he was hugely into a customized CCI with a whole book and procedure for reading it, and they had a 'chop indicator,' and lots of colors and names for their CCI's patterns, and a little tiny line way up at the top of the analysis that you could hardly see and that was the price bars of the instrument under analysis...

I also had the pleasure of speaking to Matt today, he took time to answer my questions and I got right thru to him, it's great to see him here helping out, thanks, Matt.

On the bright side of my situation, I started taking my forex trading more serioiusly since it's about all I can trade these days, and gee, I bagged a few longer time trades with 50+ pip gains, so even without the futures, there is still hope for me after all, see ya all at 5am for more of this, GN

Reply With Quote
Thanked by:
  #747 (permalink)
 LindaR 
Chicago Illinois
 
Experience: Master
Platform: Photon, CQG, TradeStation
Trading: ES
Posts: 5 since Jan 2014
Thanks Given: 0
Thanks Received: 14

Hi Gang!
Just to let you know, my husband's firm, FuturePath Trading can do Ninja -Rithmic at multiple FCMs - they are an IIB who clears KCG (Knight), Vision, FCStone, NewEdge, Dorman, and a few others - so....plenty of options. Super rates. They can also offer Photon Trader, Multi Charts, Trade Navigator, CQG, TT....... if you want to consult about assorted options and connectivity solutions to keep your Ninja, Damon is happy to help.
I became a client of FuturePath back in 1999 for my CTA, and have been doing all my execution there ever since. Damon used to do my execution in the SP pit back in 1991...and 4 years ago I went from being a happy client of his to a happy wife :-)
Please feel free to email him at [email protected], even for the most simple of questions. or, visit FuturePath Trading's website.
I have been through so many disruptions over my career, from the time the Chicago river flooded the basements of the clearing firms (they all shut down for three days), to 911 when my trade desk was through Refco's office one block from the WTC, to Refco's demise, then MFGlobal's demise....yup, am still waiting for funds back from them. Part of the business, but an unfortunate stressor. In the menatime, I wish everyone the best for a positive upbeat 2014 going forward!
Linda Raschke

Reply With Quote
  #748 (permalink)
 LindaR 
Chicago Illinois
 
Experience: Master
Platform: Photon, CQG, TradeStation
Trading: ES
Posts: 5 since Jan 2014
Thanks Given: 0
Thanks Received: 14

HI Mattz, I did not mean to step on your toes. I checked with Big Mike first, who gave me this link. FuturePath has had Rithmic for an extended period of time, too. And, yes, Damon is very good friends with the folks at Vision...you might even know him - Damon Pavlatos. As an aside, I actually had an account with them in 1991 in their New York office, and it was a broker there who first encouraged me to become a CTA. This is a large industry with many clients with different needs. Different brokers and IIB service different clients, so everyone ends up developing a niche. I am sure your clients are very satisfied customers. I wish you well - Linda

Reply With Quote
Thanked by:
  #749 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
Thanks Given: 2,440
Thanks Received: 3,789


LindaR View Post
HI Mattz, I did not mean to step on your toes. I checked with Big Mike first, who gave me this link. FuturePath has had Rithmic for an extended period of time, too. And, yes, Damon is very good friends with the folks at Vision...you might even know him - Damon Pavlatos. As an aside, I actually had an account with them in 1991 in their New York office, and it was a broker there who first encouraged me to become a CTA. This is a large industry with many clients with different needs. Different brokers and IIB service different clients, so everyone ends up developing a niche. I am sure your clients are very satisfied customers. I wish you well - Linda

Same here, I wish you well. A bit sensitive about the Rithmic issue because we have promoted it for years, built a network around it, and our entire risk managenent for customer service is around it. Also, our clearing firm did not have demos in real time so we outsourced and worked with Rithmic to provide it for every necessary platform that takes the Rithmic API.
As you know, Rithmic cant just be demoed generically and needs special accommodation for each platform. Anyhow, it was a lot of work. Now, all of a sudden everyone is promoting Rithmic when promoted it exclusively for years.
I deleted my sarcastic comments to maintain the peace at futures.io (formerly BMT). All good.

Matt

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Reply With Quote
  #750 (permalink)
 JustinIsHere 
Montreal, Canada
 
Experience: Beginner
Platform: NinjaTrader, Multicharts
Trading: ES
Frequency: Never
Duration: Never
Posts: 113 since Dec 2011
Thanks Given: 57
Thanks Received: 127


Linda, is there anywhere where I can get hold of information such as contract details, commissions and fees and such for FuturePath? There's very little information on the website (https://futurepathtrading.com/index.html).

Reply With Quote




Last Updated on July 5, 2014


© 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