As a longtime Mirus customer I was also hit with the Zenfire issue, and the unprofessional way Mirus has dealt with this situation.
I have since made extensive inquiries as to a suitable and reliable broker together with good clearing houses (I am with RCG), as well as offering of different solution to go with Ninja Trader.
I have come up with Canon Trading Company which seems to be able to comply with the strict condition I am looking for together with a wide range of options.
I am putting this forward here as there still maybe many of you who are searching. I found them to be very professional, polite and efficient together with all the options as above. They have been in business since 1988, offer all possible datafeeds to Ninja as well as 10+ other platforms.
As a Mirus client (survivor) I spoke with a Cannon broker rep, Mark O'Brien, at Cannon last week. They offer a wide variety of data feed options to choose from. I primarily focused on the Rithmic technology for NinjaTrader which they offer and clear through Vision Financial. I was quoted a day margin of 20% of overnight, which seems to be fairly standard for IIB's clearing with Vision.
The following 3 users say Thank You to trendwaves for this post:
Thank you guys for the nice feedback. I am the VP at Cannon Trading. I am sorry for all of you who experienced interruption in your trading because of the Zen Fire situation. It seems that the situation stirred up the industry a bit and there are many different sources of information, sometimes they don't match.
We do offer various ninja trading solutions though few different FCM's as well as other platforms. I do NOT want to break BigMike policies, hence will not go into details but feel free to visit our website, contact us OR post questions on this specific thread and see if we can customize a solution and provide you with accurate information.
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I applied yesterday with Cannon Trading. First impression: very good.
They matched my commissions plan without problems. I open with Dorman+Rithmic. Now I am waiting for the start up of the account. I suspect they are very busy in these days, and Dorman too.
My only doubt is about their PST working hours, and I do not know if they have a real 24h helpdesk. Several years ago I had many problems with a main IB headquartered in CA too about their time.
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Yes, most brokers who offer ninja are swamped trying to accommodate clients who are moving away from Mirus. Our turn around time has been pretty good so far, 24 hours or so.
I actually think that the west coast hours are better as some of us come in early and some of us stay late so our main business hours stretch from 530 am pacific time to 3 pm pacific time ( 830 AM to 6 PM EST).
Ilan, I'm currently with RCG/Mirus and primarily interested in Rithmic. According to the posts above you offer Rithmic from Vision and Dorman, but what about RCG? I've heard they are intoducing Rithmic too (emailed them, but haven't got an answer yet).
Also AFAIK Vision doesn't have Eurex on Rithmic, while Dorman does. What about RCG?
Hi Bogan and maybe this will help others as well.
We do offer Rithmic with both Dorman and Vision. RCG says they are in the process of getting Rithmic but my speculation is it will be weeks and not days over at RCG.
Dorman WILL have EUREX on Rithmic but not at this specific second, my "guesstimate" with Dorman is we are talking days.
At this specific second we can offer EUREX for clients who trade on ninja through RCG - Continuum and Dorman -Continuum.
We also offer Eurex via a few other trading platforms.
*Futures trading is risky and not for everyone. PM for specifics or 800-454-9572 / int'l +310 859 9572
The following 4 users say Thank You to CannonTrading for this post:
I have been using Cannon for 6 months and I absolutely love the service. Recently received a competitors commissions report and they quickly matched them without question. Also they answer their phones within 3 rings and my broker is quick to return calls or emails.
I called them with some questions a couple years ago and got a demo. Since then they've called me a bunch of times seeing if I'm still interested in trading with them and to possibly give me a better deal then my current broker. It's reassuring that they have a rep who is responsive here on this forum. That goes a long way imo
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Thank you! We always welcome feedback, we love the good comments and will try to improve when we hear we need to. Good trading to all, markets are definitely moving today!
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
The bad news is that a 0.50$ routing fee is charged for all CME contracts (Dorman+Rithmic over Ninja) ... I discovered this today, but they assured me it is included in the commision plan. One more question: where is the customer portal for checking the open positions and stm downloads ? I didn't consider that when opened the account ... all brokers have one
The data fees are INCLUDED in the total commission cost quoted but they will be broken down on the statement to reflect exchange fees, transaction fees( data feed) and commissions. The total will add up to what your broker quoted you.
Currently Dorman does not have a portal for clients to log in, since they used to have one built upon Zen Fire back-end.
They should have one shortly BUT as a client you will get a daily statement, detailing account activity for the day nightly ( around 8 pm Central time)
Please feel free to contact me directly as well at ilan@cannontrading.com
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
The following user says Thank You to CannonTrading for this post:
But couldn't Dorman provide R-Trader right now for free, at least that way the poster could check and close etc open positions. I appreciate it would not give him statements though.
The following user says Thank You to steve2222 for this post:
Their T4Web as known as Dorman Direct let you to trade, view historical trade activity, and download statements. The real problem is the lack of informations from Dorman. Their support mailbox is a black hole where you send emails without reply. Dorman staff is a mysterious entity.
Cannontrading work with them, and should take care of his clients cleared by Dorman, for example with a limited access to T4Web, T4Mobile or R-Trader for free.
Thank you for all the questions and great feedback!
I know many of you have a lot of different questions about Ninja Trader and the different feeds we offer. Just for clarification we are an introducing broker and we clear through Dorman, Vision, Ironbeam AND RCG for your Ninja Trader solutions. We do not limit you to one solution for Ninja Trader. We do offer other trading solutions as well that are NOT associated with Ninja Trader.
Also, to answer the question above we do offer T4Web with Dorman as well. If you are a client of ours, you will be able to log into the portal too.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
The following 2 users say Thank You to CannonTrading for this post:
Thanks guys, we are happy to help and appreciate the positive response!
We are here to answer questions as the markets and the industry are always revolving.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 798 since Oct 2009
couple of Q's
a) intraday margin rates?, and a salesman to ask for....
b) ninja and which data vendor?
c) cash indices available or requires additional source?
d) finally, how are the comms?
a) intraday margin rates?, and a salesman to ask for....anyone here can assist . Most of us have over 10 years experience. you can call 800 454 9572
b) ninja and which data vendor? depending on trading needs, priorities etc. we can recommend either Rithmic or continuum
c) cash indices available or requires additional source? available
d) finally, how are the comms? base commissions with rithmic data feed are available at: https://www.cannontrading.com/services/futures-trading-commission depending on exact solution there may a small difference if you choose different FCM or data.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 798 since Oct 2009
wow, something has improved here. I now remember, I asked these questions before, but that website and the links are much improved.
good thing, this volatile industry is as reflexive as it is, what with the former now mired in IB change of status, and the offer to clear through Dorman and RCG has been reduced to just one.....
perhaps kicking tires, sometimes the tires kick back.....
Still clearing with RCG, Dorman, Transact, Vision, IronBeam, OEC ( GAIN) I think being an independent IB clearing with different FCM's is one of our strengths as it really allows us to match client needs with the right software/set up but it is also a source for little confusion at times. A 5 minute conversation with any of our brokers will help traders get set up with the best fit.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Joe does an excellent job just like the rest of our brokers so feel free to call and ask to speak to a broker and the most available one will be able to service your needs.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Important notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones, the “Big” pit-traded S&P 500, etc., it is extremely important to remember that tomorrow, Thursday, March13th, is rollover day.
Starting March13th, the June 2014 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the June 2014 contract as of March 13th. Volume in the March 2014 contracts will begin to drop off until its expiration on Friday March 21st.
The month code for June is M4.
Traders with electronic trading software should make sure that defaults reflect the proper contract as of Thursday morning.
Please close any open March Currency positions by the close on Friday the 14th.
Should you have any further question please contact your broker.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
No we do not offer stocks like microsoft, google etc. but you can trade the index as a whole using mini SP 500, mini Dow, mini NASDAQ etc.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
I cannot express how well the customer service is at Cannon. I had a DOM issue with an order just now, position was entered but not showing up on the DOM, Chart, or Position window in OEC. I called Cannon and with one ring I had my broker on the phone and was able to close the position. Heck even closed it with a profit.
Every time I have called Cannon they answer within 2-3 rings, in a serious situation like the above being able to reach your broker in time is an important matter.
The following user says Thank You to tturner86 for this post:
Can you explain a bit more what you mean by synthetic accounts?
We do offer historical data and it is free with MOST of our data feeds/ platforms for the contracts you mentioned but depending on specific platform you like to use and if you had an active account before March 1st 2014 I can give you specifics.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
I would like to trade in two accounts separately & simultaneously.
But this should be possible with 1 basic account and two subaccounts=synthethic accounts.
I see that there is a limit of 5000$ below that there are larger fees, right?
Yes we do offer sub accounts based on one main account and you can trade both of them from the same software.
Our min account size is $2600 but in order to have sub accounts we need at least $10,000 in the main account in order to enable trading on the subs.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
...but does anyone know if they (their FCMs) are option-seller friendly? I spent a lot of time researching Advantage Futures and had a few conversations with a broker and then at the last minute he informed me that they're not really set up for option sellers, commissions would be far higher than stated on the website and margins would be something above SPAN minimums but he never got very specific. Same story with Crossland/Deep Discount Trading, although to his credit, Howard at DDT told me about Crossland's rules right away and it was clear they were not a good fit.
I know the average option selling account is not a big money maker for IBs and FCMs - the transaction count is going to be far lower than a futures day trader and it's a certainty there will be higher overnight capital requirements (on the part of the FCM) for weeks or months on end.
So, any surprises from Cannon? Are the commissions for option sellers close to what they show online? Do one or more of their FCM partners offer close to SPAN minimum margins?
I've just opened a new trading account with them and I'm not sure of the answer but I'm sure @Ilanlm can answer your question. If he does not see this post, then PM him or call him. He has always been very helpful with my many questions.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
The following 2 users say Thank You to DavidHP for this post:
Most FCM's do NOT like option sellers. Higher risk and lower profitability.
One of our advantage is being a independent introducing broker so we do work with a few FCM's.
My preferred FCM for options sellers is OEC/ Gain Capital. Excellent, free software, the desk uses common sense and works with us the brokers who in turn work with the client.
I must say upfront that not all option sellers are "created the same" and by that I mean there are more than a few factors that go into the pricing of commissions for option sellers. Trading behavior, margin responsibility, account size, trading volume and more.
Our published commissions on the website apply for FUTURES. When it comes for options a conversation or email communication with perspective broker will help you quite a bit in getting an exact pricing for selling options and margin policy etc.
In general though, I honestly think that Cannon can offer probably the best set up for a few reasons, one of the main ones is that you will deal with a licensed broker, many of us with over 15 years experience, who will understand the risk of options and be able to asses rather than just simply restrict you.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
The following 2 users say Thank You to CannonTrading for this post:
I signed up for a demo and must have been added to a mailing list. I liked today's market memo from the big cheese at Cannon:
Hello Traders,
Today I don't have anything of value to share from the trading aspect, so will wish everyone a great evening and a good trading day tomorrow!
Levels and reports are listed below and 4th of July trading schedule is already posted on our site at:
I appreciate the honesty and brevity and wish more analysts, reporters and pundits would do the same. A lot of times there just isn't much news so they fill space fabricating reasons for why ABC went up and XYZ went down.
The following 2 users say Thank You to CafeGrande for this post:
@Haverchuck unfortunately Rithmic will not be supported by RCG, at least not in the near future. Will definitely keep you updated if any other news comes up regarding Rithmic and RCG.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
I recently opened account with Cannon for futures option selling. I must say that I am very impressed with the service. When I did my first trade, I noticed that OEC added a fee to my transactions. Ilan immediately took care of it by reducing his commission rates to compensate for it.
The following 2 users say Thank You to effective for this post:
About a month ago I opened an account at Gain/OEC with Cannon Trading as the introducing broker.
My experience to date is that they use SPAN minimum margins. Earlier today I checked sample short trades (both puts and calls) in Silver, Soybeans, Soybean Oil, Natural Gas and Sugar. Using OEC Trader's POSITION window and adding "initial margin" to "option value" the result was 100% of the "initial margin" figure displayed in the CME SPAN tool (the Excel application that DudeTooth created).
I did not compare figures for trades that comprise a spread. Based on the above, I think/hope the offsets used by Gain/OEC would be very similar to what's permitted by the SPAN rules.
Hello @Haverchuck! We do offer CQG QTrader with 3 different clearing firms (Ironbeam, Dorman and RCG). Please feel free to call in the office and any broker or myself can assist you.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
RCG no longer supports Ninja Trader unfortunately. Cannon Trading Company does offer many other platforms though. You can call the office for more details
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Hello @MXTrader! We do accept Canadian customers. Unfortunately not using the T4 platform. Another great alternative platform we do offer for our Canadian clients is CQG Q Trader. If you like, please call the office and any broker here can set you up with a demo 310-859-9572.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,765 since Jun 2009
Thanks: 32,302 given,
97,540
received
Hi guys,
It is my pleasure to welcome Ilan Levy-Mayer @ Cannon Trading for a webinar on Tuesday, September 11th @ 4:30 PM Eastern US.
The title for this event is "Learning about Cannon Trading", and bullet points include:
With over 30 years in the futures business, Cannon Trading excels at helping traders with tips, pointers and customized services filtered to fit your specific needs.
- The new trader
- The more experienced trader
- International Clients
- The institutional trader
- The High Frequency trader
- Options traders, including options sellers
- Review of our commissions, margins and platforms.
- Review and explanation of the exclusive day trading newsletter FIO members have access to ($299 value). Go over specific and exact trade recommendations and actions based on recent letter.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,765 since Jun 2009
Thanks: 32,302 given,
97,540
received
Hi guys,
Cannon Trading is sponsoring a special webinar featuring Peter Davies from Jigsaw Trading covering the significant importance of Correlations in Markets, on Thursday, November 15th @ 4:30PM Eastern US.
- Arbitrage - the glue holding markets together
- The illusion of complexity - Why using correlated markets looks complex but isn’t.
- Market State - essential in selecting trade strategy as the trading day develops.
- Trade Confirmation/Refinement - using correlations to avoid bad trades, get better prices
- Trade Management - in with the good, out with the bad
- Short term value - Trading without price!
- Using Charts vs DOMs - Choosing the right tools to track correlations
- Thinner/Thicker correlated markets
There will also be some giveaways for those who attend the event.
The main discussion thread for this event is here:
It is my pleasure to announce our 325th webinar event and welcome Peter Davies @ Jigsaw Trading for on Thursday, November 15th @ 4:30 PM Eastern US, sponsored by Cannon Trading.
The title of this event is "Improve your trading with …
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,765 since Jun 2009
Thanks: 32,302 given,
97,540
received
Hi guys,
Cannon Trading (a futures io site sponsor) recently celebrated their 30th Anniversary in the Brokerage business, an amazing achievement! We wanted to send them a little "Happy Anniversary" gift, and they were kind enough to send us a picture.
@supreme23 why yes we do accept Canadian clients here at Cannon Trading. Please direct message us and we can provide you with more details
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
If you have any questions about this offer, or any questions about Cannon Trading, brokerage questions, platform questions, etc -- please feel free to reply to this thread so you can receive help and answers!
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,765 since Jun 2009
Thanks: 32,302 given,
97,540
received
Hi guys,
It is my pleasure to welcome back Ilan Levy-Mayer @ Cannon Trading for our 351st webinar event, on Thursday, May 30th @ 12:00 PM Eastern US (special time).
The title for the event is "Live Day Trading the E-MICROS", and bullet points include:
- Live real-time trading the MES, MNQ, MYM and M2K
- What makes the new E-Micro’s special
- Real-time entries, exits and trade management
- Setting up your charts, DOM, and pre-defined exits
- Learn from Ilan’s more than 20-years of experience
- Live Q&A session, bring your questions
- 4 weeks FREE trial to proprietary indicators and ALGOS
- Note the special time @ 12PM ET!
It is my pleasure to welcome back Ilan Levy-Mayer @ Cannon Trading for our 351st webinar event, on Thursday, May 30th @ 12:00 PM Eastern US (special time).
The title for the event is "Live Day Trading the E-MICROS", and bullet points …
Hi I'm sorry for the late reply. If you lease Sierra Charts Level 5 independently through the Sierra website, you can plug in your TransAct information to receive the TransAct data feed from there. If you go through TransAct, you can only use Level 3 Sierra Charts. TransAct did create their own charts though that are free to you trade 10 round turns a month, otherwise it is $12.50 for the TransAct charts. I know it can be a bit confusing. Please feel free to PM me with any questions.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
