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Zenfire no more?


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Zenfire no more?

  #831 (permalink)
 dunross 
new york, new york / usa
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES
Posts: 5 since Jan 2012
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Big Mike View Post
Ray, can you tell us who's decision it was to exclude Dorman?

Mike

I wondered about that myself. Seems odd that only one firm would have such a requirement. Does anyone have any insight into this?

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  #832 (permalink)
 CapitaineNemo 
Barcelona, Spain
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL, Option Spreads
Posts: 5 since Dec 2011
Thanks Given: 9
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JustinIsHere View Post
Yesterday, Mirus Futures' CEO announced that they are entering an exclusive partnership with Dorman Trading as a Guaranteed Introducing Broker. (See https://ninjatrader.com/)
...
the Introducing Broker is relieved from the necessity of raising its own capital to satisfy minimum financial requirements. In contrast, an independent Introducing Broker must raise its own capital to meet minimum financial requirements.

Any opinions on why they would drop RCG and RJO overnight?

Edit: @Big Mike, I didn't want to post this here because I didn't think it was related to ZenFire.

My reading of this is that there were not going to meet the minimum financial requirements anymore, and asked Dorman to "rescue" them?

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  #833 (permalink)
 
martifc's Avatar
 martifc 
Clerkenwell, London
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: 6E
Posts: 59 since Dec 2010
Thanks Given: 16
Thanks Received: 26



JustinIsHere View Post
Any opinions on why they would drop RCG and RJO overnight?

cos they're in a spot of bother.

with NTv20/Continuum it sounds like there's no need for a middleman?

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  #834 (permalink)
 TradeHugger 
Chicago, IL
 
Experience: Master
Platform: Many
Trading: Futures
Posts: 3 since Jan 2014
Thanks Given: 0
Thanks Received: 1

I am guessing that the reason you are at RCG is because of Mirus, and that if it weren't for Mirus's reco to open your account at RCG you may very well be elsewhere. To that point, Mirus was your front-line support and the company that you researched and chose as the best at the time, and you went with their reco. Do the same now ... don't feel like you have to stay at RCG just because its easiest -- there are other FCMs and Introducing Brokers (Guaranteed and Independent) that can provide you with the technology and service you require.

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  #835 (permalink)
 resist 
Berlin Germany /Alicante Spain
 
Experience: Intermediate
Platform: NinjaTrader
Broker: DDT/Rithmic, Global/CQG, IB, Mirus(Ninja)/MarketDelta
Trading: Futures
Posts: 141 since Jan 2010
Thanks Given: 362
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TradeHugger View Post
I am guessing that the reason you are at RCG is because of Mirus, and that if it weren't for Mirus's reco to open your account at RCG you may very well be elsewhere. To that point, Mirus was your front-line support and the company that you researched and chose as the best at the time, and you went with their reco. Do the same now ... don't feel like you have to stay at RCG just because its easiest -- there are other FCMs and Introducing Brokers (Guaranteed and Independent) that can provide you with the technology and service you require.

Wrong. I have an account at Dorman AND RCG (AND Crossland too) to minimize risks - and I moved years ago from another German IB to Mirus with my already established RCG account. They asked me to open a Dorman account, also. In my little reminder I went to Mirus because they offered Ninjatrader in 2006. This was the reason. And I moved my RCG account there, too.

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  #836 (permalink)
 
martifc's Avatar
 martifc 
Clerkenwell, London
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: 6E
Posts: 59 since Dec 2010
Thanks Given: 16
Thanks Received: 26


TradeHugger View Post
I am guessing that the reason you are at RCG is because of Mirus, and that if it weren't for Mirus's reco to open your account at RCG you may very well be elsewhere. To that point, Mirus was your front-line support and the company that you researched and chose as the best at the time, and you went with their reco. Do the same now ... don't feel like you have to stay at RCG just because its easiest -- there are other FCMs and Introducing Brokers (Guaranteed and Independent) that can provide you with the technology and service you require.

yes you're right that's why I'm with RCG atm (and because they allow funding in GBP unlike Dorman from whom I switched). I chose Mirus because they published their commissions on the site and seemed upfront and open (and because Zen-Fire was free). my experience of IBs in general is negative - it surprised me that the world of futures is so full of sharks.

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  #837 (permalink)
 
Daytrader999's Avatar
 Daytrader999 
Ilsede, Germany
Site Moderator
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Rithmic / CQG / Ninja Trader Brokerage
Trading: NQ
Posts: 1,525 since Sep 2011
Thanks Given: 2,067
Thanks Received: 2,316


martifc View Post
...my experience of IBs in general is negative - it surprised me that the world of futures is so full of sharks.

Well, in a world with so much 'easy money' involved, the presence of sharks would be the last thing that would surprise me...

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #838 (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


TradeHugger View Post
I am guessing that the reason you are at RCG is because of Mirus, and that if it weren't for Mirus's reco to open your account at RCG you may very well be elsewhere. To that point, Mirus was your front-line support and the company that you researched and chose as the best at the time, and you went with their reco. Do the same now ... don't feel like you have to stay at RCG just because its easiest -- there are other FCMs and Introducing Brokers (Guaranteed and Independent) that can provide you with the technology and service you require.

That's a pretty pompous statement, considering your firm does so little to put itself under a light that would even appeal to new clients. Namely by the lack of information you provide on your website.

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  #839 (permalink)
 
Seahn's Avatar
 Seahn 
New York, New Jersey/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Futures
Posts: 161 since Jan 2013
Thanks Given: 63
Thanks Received: 274

Now that its pretty clear that Zenfire is no more I am starting to look for alternatives as the Mirus offering will not do. Its clear this is going to be very frustrating. I visited quite a few IB and FCM sites and most all of them are brimming with marketing BS and fluff with little or no real useful information to help me decide.

I am not one to look for the lowest price but I do expect to know what the commissions, fees and minimums I am going to pay are before I open an account. This apparently will require a call/email request and the resulting constant salesman hounding. That was one of the reasons I chose Mirus, they were up front with costs information.

Is there anywhere here on futures.io (formerly BMT) or elsewhere comparative cost information on popular brokers.

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  #840 (permalink)
 
martifc's Avatar
 martifc 
Clerkenwell, London
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: 6E
Posts: 59 since Dec 2010
Thanks Given: 16
Thanks Received: 26



Daytrader999 View Post
Well, in a world with so much 'easy money' involved, the presence of sharks would be the last that would surprise me...

good point. but the only easy money that exists, courtesy of central banks, is for the asset rich, for now...

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