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NinjaTrader Brokerage Services (after NT acquired Mirus Futures)
Started:June 30th, 2014 (10:32 AM) by NinjaTrader Views / Replies:134,877 / 656
Last Reply:October 13th, 2016 (03:49 PM) Attachments:9

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NinjaTrader Brokerage Services (after NT acquired Mirus Futures)

Old July 15th, 2014, 05:40 PM   #211 (permalink)
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Quebec
 
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...
Given recent history of MFG and PFG where funds were lost, and then more recent NFA actions with Vision (FCM) as well as Global Futures (IB, Global clears thru AMP), traders should not take any chances when it comes to their broker. I hope ultimately that we will see some form of insurance like SIPC but for futures. That may be wishful thinking.

I hope everyone is taking notice. And I hope everyone has read all the public documents about the AMP lawsuit so they can reach their own conclusions about the merits of their lawsuit.

Mike

@Big Mike , given your comment, i know for a fact that Optimus/Mattz is a good broker but Optimus uses Vision as FCM. Does it mean that you put optimus and Vision on the same level?

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Old July 15th, 2014, 05:46 PM   #212 (permalink)
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Lehrte, Germany
 
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trendisyourfriend View Post
@Big Mike , given your comment, i know for a fact that Optimus/Mattz is a good broker but Optimus uses Vision as FCM. Does it mean that you put optimus and Vision on the same level?

I really cannot imagine that Mike meant it that way, and as I already mentioned in another thread, I can sleep well as long as Matt doesn't advise me to change anything...

"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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Old July 15th, 2014, 05:55 PM   #213 (permalink)
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trendisyourfriend View Post
@Big Mike , given your comment, i know for a fact that Optimus/Mattz is a good broker but Optimus uses Vision as FCM. Does it mean that you put optimus and Vision on the same level?

I like Optimus Futures and @mattz a lot and think he does a lot of good in the industry. But he clears through Vision, and with the recent NFA action, it means that will be changing. The relationship between FCM and IB is important. So even if @mattz is fantastic, an important part of his business relies on Vision which has just had a big hit to their reputation. I don't personally believe funds are at risk over what has happened, but I do believe the industry as a whole should do better and be more transparent.

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Old July 15th, 2014, 06:47 PM   #214 (permalink)
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I really cannot imagine that Mike meant it that way, and as I already mentioned in another thread, I can sleep well as long as Matt doesn't advise me to change anything...

Thank you for your trust. You can also look at these factors when it comes to FCMs:
1) Assets under management 2) Excess Net Capital
The term "transparency" is being thrown here, so there you go: http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata0514.pdf

Matt

THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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Old July 15th, 2014, 06:59 PM   #215 (permalink)
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mattz View Post
You can also look at these factors when it comes to FCMs:
1) Assets under management 2) Excess Net Capital
The term "transparency" is being thrown here, so there you go: http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata0514.pdf

I certainly agree those factors have importance, for instance wanting to avoid an FCM that has very little excess capital. But I don't think the reverse (large excess) means they are good and/or safe. Most are, sure, but it isn't a given. Just look at past failures and what they showed on this report right before they imploded.

I think that's why it is even more important to get a feel for how a company is being run. Management is what is really important, and they set the tone for what is acceptable business practices in their organization.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

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Old July 15th, 2014, 07:06 PM   #216 (permalink)
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I certainly agree those factors have importance, for instance wanting to avoid an FCM that has very little excess capital. But I don't think the reverse (large excess) means they are good and/or safe. Most are, sure, but it isn't a given. Just look at past failures and what they showed on this report right before they imploded.

I think that's why it is even more important to get a feel for how a company is being run. Management is what is really important, and they set the tone for what is acceptable business practices in their organization.

Mike

I am not here to defend anyone, rather to say that I want to stand by those who have helped me.
Our communications are with the operation inside VFM, and these people have been incredibly helpful to us when it comes to tech support. We have applied the same philosophy when people were going nuts on Ninja during the Ninja debacle with the BigTick. We stick by those who helped us! Maybe some should apply this philosophy in their belief system and not justify it on the old "business is business".

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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Old July 15th, 2014, 11:40 PM   #217 (permalink)
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Daytrader999 View Post
I really cannot imagine that Mike meant it that way, and as I already mentioned in another thread, I can sleep well as long as Matt doesn't advise me to change anything...

I recently withdrew my funds from my account through Matt for personal reasons. But now that I ready to get back to trading I refunded my account even though Matt clears through Vision. I too have complete confidence that Matt will do everything possible to secure my money.

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Old July 16th, 2014, 12:28 AM   #218 (permalink)
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sctrader View Post
I recently withdrew my funds from my account through Matt for personal reasons. But now that I ready to get back to trading I refunded my account even though Matt clears through Vision. I too have complete confidence that Matt will do everything possible to secure my money.

I appreciate the vote of confidence, however your funds are segregated at Vision. Just as an FYI, post the PFG scenario today the regulators have direct electronic access to check account balances for segregation. We at Optimus sent funds in and out as per customers requests without delay or any issue.
Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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Old July 16th, 2014, 12:49 AM   #219 (permalink)
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AMP is still listed on our new ninjatraderecosystem.com site:

NinjaTrader Ecosystem | NinjaScript Broker Partners

@NinjaTrader

I could not find amp on this website. Looks like after 15th July, we will not have much choices. only six brokers are listed here. From them clear is in different language, I could not understand. I checked thoroughly ib and gain capital, nowhere ninjatrader is mentioned. So not much choices we can have? So is it true that after 15th July, if we want ninjatrader only through these six brokers and ninjatrader itself it will be available?

Trade what you see, not what you think!
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Old July 16th, 2014, 02:50 AM   #220 (permalink)
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@NinjaTrader

This is probably unfair to ask, but I am going to ask anyway in an effort to see if I can get to a warm and fuzzy place. During the Mirus/Zenfire mess, Mirus did a very poor job of handling things. They did not answer their phone. They did not answer e-mails and if they did it was a week or more delay and then it was just a form letter instead of something that answered the actually e-mail sent. After a bit they did not even answer the phone on their trade desk. The question I have is are the people that made the decision to handle things in this poor manner still there? If they are, how do I know that the next major problem will not be handled in the same manner?

Your honest response would be very much appreciated. Thanks!

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