I'm signing up for NinjaTrader's Brokerage. There are 2 options: What's the difference between signing up for Phillips or Dorman? I also plan to buy the Lifetime License.
The following user says Thank You to kevinhpchan for this post:
The way it was explained to me, Phillips was more the default for the US, and Dorman for International. Technically you can use either one, but Phillips will be quicker to setup if you are in the US.
Ian
In the analytical world there is no such thing as art, there is only the science you know and the science you don't know. Characterizing the science you don't know as "art" is a fools game.
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Dorman is their recommended choice if you come outside of the States or would like to file taxes elsewhere. I do not know if it means that Dorman has more leniency. Other than that, Phillips and Dorman are two equal choices.
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Only big difference I'm aware of is you can only trade XBT (Cboe Bitcoin) with Phillip Capital, can't trade it with Dorman. You CAN trade BTC (CME Bitcoin) with both, though.
The following 2 users say Thank You to ShatteredX for this post:
In regards to which to choose, I was originally given this advice by NT support (thumbs up to NT support)
"There are two clearing firm options: Dorman Trading and Phillip Capital. All rates/commissions/fees are set by us and are the same. Both options are great. You can research each one if you want more information. I usually recommend Phillip Capital for Individual or Joint Accounts because their web portal is easy to use and they have a more streamlined approval process. I recommend Dorman Trading for LLC and IRA accounts because they are easier to work with for those types of accounts"
I'm currently with Dorman. Cheers
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