NT brokerage which to use: Dorman Trading or Phillip Capital - Brokers and Data Feeds | futures io social trading
futures io futures trading


NT brokerage which to use: Dorman Trading or Phillip Capital
Updated: Views / Replies:9,402 / 12
Created: by Rachel Attachments:0

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Closed Thread
 
Thread Tools Search this Thread
 

NT brokerage which to use: Dorman Trading or Phillip Capital

  #1 (permalink)
Elite Member
San Diego
 
Futures Experience: Advanced
Platform: Private
Broker/Data: private
Favorite Futures: CL future
 
Rachel's Avatar
 
Posts: 1,380 since Mar 2012
Thanks: 935 given, 1,947 received

NT brokerage which to use: Dorman Trading or Phillip Capital

Hi,

Can anyone give me some information on their experience using Dorman Trading or Phillip Capital on NT brokerage?
I am going to open an account with NT and am looking for some traders that have some experience with either Dorman or Phillip's.

You can just send me a PM, to Rachel, here on Futures.io

Thank you,

Rachel

 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Trading for Profit
Atlanta GA USA
 
Futures Experience: Advanced
Platform: thinkorswim/Ninja Trader
Favorite Futures: stock options; ES, TF, 6E, 6J
 
Posts: 204 since Aug 2013
Thanks: 47 given, 189 received


I was wondering that myself. Somebody told me that one had ACH transfer where you could transfer directly from checking. If one does, that's who I would go with if they are both just as good as the other.

The following 2 users say Thank You to emini2000 for this post:
 
  #4 (permalink)
Elite Member
San Diego
 
Futures Experience: Advanced
Platform: Private
Broker/Data: private
Favorite Futures: CL future
 
Rachel's Avatar
 
Posts: 1,380 since Mar 2012
Thanks: 935 given, 1,947 received

Some of my concerns

1. how are fills?
2. Is it all electronic like IB? Some trades are passed through people and they won't have as good a fill as electronic execution.
3. How safe are my funds, how do they hold my money.

If anyone, has had any experience, please PM me.

Thank you,

Rachel

 
  #5 (permalink)
Trading for Profit
Atlanta GA USA
 
Futures Experience: Advanced
Platform: thinkorswim/Ninja Trader
Favorite Futures: stock options; ES, TF, 6E, 6J
 
Posts: 204 since Aug 2013
Thanks: 47 given, 189 received


Rachel View Post
1. how are fills?
2. Is it all electronic like IB? Some trades are passed through people and they won't have as good a fill as electronic execution.
3. How safe are my funds, how do they hold my money.

If anyone, has had any experience, please PM me.

Thank you,

Rachel

Why ask for a PM when we're all here asking questions trying to find out? You don't want us to have that information too? : )

The following 2 users say Thank You to emini2000 for this post:
 
  #6 (permalink)
Elite Member
Boulder
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ZB, ES
 
lax99's Avatar
 
Posts: 318 since Jun 2015
Thanks: 549 given, 636 received

I use Dorman. I don't have any experience with Phillip Capital but Dorman has been fine for me. They've been just fine for me for about a full year now. I withdraw from my account about once a month and the transfers are timely and I haven't ever had an issue with them. I've never experienced an issue with a fill. As a general rule, limits will get filled at the price specified. Market orders to buy will get filled at the ask and orders to sell will get filled at the bid. Order fills will be more dependent on the market which you're trading (i.e. Ag markets are less liquid than indices) and I would be surprised if any brokerage was still in business if it didn't get its clients favorable fills.

I don't know how Dorman holds its client money. However, I've never had an issue with waiting for funds to be removed from any Money Market account that it might be held in over there. Just a clarification--I don't know if Dorman does anything with client money at all.

If you have any other questions, feel free to ask. My guess is that the clearing firms are functionally identical for futures trading. If you're looking to clear equity or options trades through either firm, you should look into that specifically.

Best,

Lax99

The following 9 users say Thank You to lax99 for this post:
 
  #7 (permalink)
Elite Member
Los Angeles, CA
 
Futures Experience: None
Platform: NT7, TS, TOS
Favorite Futures: Emini ES NQ CL GC FX
 
Posts: 13 since Apr 2016
Thanks: 14 given, 4 received

20160430 Who did you go with? Dorman or Phillip Capital?

Rachel,

The thread went dormant. Which brokerage did you end up opening an account with Dorman or Phillip Capital? Or did you go with another [i.e. S5 Trading or AMP Futures (SaaS/PaaS) or Topstep (SaaS/Paas)]. I see that Software as a Service is the new web enable trading platform. Also I see others are offering it for FREE (thats suspect since there is no free lunch). Is that true? I am a newbie as well and would welcome the community input. If you could do it all over again and had the technology and experience you now have how would you take your 1st steps into Trading futures. (Platform, education, Prop firm (funded); indicators, services, live trading room, MultiCharts or NinjaTrader, etc. ) Also did anyone every answer as to the status of electronic fills? What offers ACH? Your help is appreciated.



Last edited by 10kTrader; April 30th, 2016 at 02:32 PM.
The following user says Thank You to 10kTrader for this post:
 
  #8 (permalink)
Elite Member
Buenos Aires Argentina
 
Futures Experience: Advanced
Platform: NT, MT4, Sierra
Favorite Futures: S&P, Bonds, Crude, FX
 
Posts: 250 since Sep 2014
Thanks: 37 given, 236 received


emini2000 View Post
Why ask for a PM when we're all here asking questions trying to find out? You don't want us to have that information too? : )

Check out the CFTC reports for the financial standing of the respective firms you are inquiring about.

Financial Data for FCMs - CFTC

The following 3 users say Thank You to MacroNinja for this post:
 
  #9 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
Favorite Futures: Futures
 
xplorer's Avatar
 
Posts: 2,426 since Sep 2015
Thanks: 4,897 given, 3,446 received
Forum Reputation: Legendary

I have used Dorman for over a year and I have found no issues with them. The statements are accurate to the cent.

As for the fills, limit orders by definition are guaranteed in terms of price so if you put in a limit order and you get filled, you will get filled at the price of your limit order (or better). This does not change according to the FCM.

As for market orders, it really depends on a number of factors, e.g. volatility of the instrument, how many contracts you're trading, internet speed, etc. but I have had only a few ticks slippage overall in over a year, so I can consider myself reasonably satisfied with them.

The following 6 users say Thank You to xplorer for this post:
 
  #10 (permalink)
Elite Member
California
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: Index Futures
 
Haverchuck's Avatar
 
Posts: 105 since Jul 2009
Thanks: 76 given, 77 received


Do either of these FCMs offer a client portal with real-time clearing info, or do you have to wait until the end of the day to receive an emailed statement?


Closed Thread



futures io > > > > NT brokerage which to use: Dorman Trading or Phillip Capital

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

FIO Journal Challenge featuring NinjaTrader ($2,000+ of prizes)

May
 

EasyLanguage ABC's: Mastering TradeStation Programming w/Chris Kaiser

Elite only
 

Prototyping Python Strategies (part 2: Backtesting) w/Ran Aroussi [special time: 1PM ET]

Elite only
 

Portfolio Diversification w/Brendon Delate @ Diversify Portfolio

Elite only

An Afternoon with FIO member Softsoap (being rescheduled)

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
NT Brokerage Question Rachel Brokers and Data Feeds 3 November 21st, 2015 10:20 AM
Dorman Trading's Hal Dunne quits company, Dorman's capital shrinks 25% Big Mike Brokers and Data Feeds 10 September 29th, 2014 06:12 PM
Rosenthal Collins (RCG) vs Dorman Trading alexman Brokers and Data Feeds 25 June 27th, 2014 04:53 PM
FuturePath Trading Brokerage (www.futurepathtrading.com) Big Mike Brokers and Data Feeds 40 May 4th, 2014 06:43 PM
Recommed NT supported brokerage with good banks. COTtrader Traders Hideout 11 June 17th, 2010 03:43 PM


All times are GMT -4. The time now is 03:11 AM.

Copyright © 2017 by futures io, s.a. Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
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.
no new posts
Page generated 2017-05-23 in 0.12 seconds with 19 queries on phoenix via your IP 54.92.175.204