Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,412 since Jun 2009
Thanks: 32,068 given,
96,715
received
Mike Murphy, Director of Trading, will be monitoring this thread so that he may answer any questions that you post here relating to Ironbeam's products and services.
Please keep in mind that some customer service/technical support issues are best handled through proper channels at Ironbeam, and not here in this thread.
About Ironbeam Futures
Ironbeam is an FCM and futures broker providing cutting edge technology, support, and clearing services to brokers and traders worldwide. Dedicated to giving exceptional service and dispensing customer with the foremost trade support, our expert personnel and broad market coverage enables traders to trade, while we handle the rest.
About Mike Murphy
Mike Murphy is the "guru" of all things futures at Ironbeam. Mike has worked in many facets of the industry including open outcry, physical delivery, and electronic trading/brokerage.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,412 since Jun 2009
Thanks: 32,068 given,
96,715
received
Greetings to @Ironbeam Mike, and welcome to the community! We thank you for supporting our community, and look forward to your upcoming webinar where you will go over your products and services offered by Ironbeam.
We will post the details/date of that event in this thread shortly.
In the meantime, if anyone has questions about Ironbeam, please post them here.
Thanks Mike! We're happy to be here & part of the Futures.IO family.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following user says Thank You to Ironbeam for this post:
Anyone that's used legacy Firetip will notice that there many of the widgets in Firetip X have the same names. The core tools from legacy Firetip are there, but Firetip X approaches these tools from a new angle.
Firetip X is completely formula based. Traders can use the 300+ built-in indicators and formulas, or create and edit their own. These formulas can not only be used as indicators, but can also be applied as custom order types, trade signals, or plotted to your quote board as their own cell/column/row. This includes the ability to code directly to the API from the front end trading platform. Legacy Firetip doesn't have the formulas or API capabilities that X has.
Another difference is that Firetip X uses the same code across all platforms/operating systems. You can create a workspace on the web platform, and open it on your iPhone, Android, tablet, or the desktop app and vice versa. You can even code indicators or formulas on the Android or iOS app if you really wanted to.
Firetip X will also feature the new spread builder in an upcoming release - where a user can create a new option or futures spread and submit it to the exchange to create the instrument if valid & send out an RFQ to trade it (if the spread doesn't already exist).
There are many more differences which I'm sure we will cover in future webinars on here, but these are a few of the big ones that come to mind
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following user says Thank You to Ironbeam for this post:
Yes, both legacy Firetip and Firetip X are Mac OS compatible.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following user says Thank You to Ironbeam for this post:
Yes, we do support futures and options trading. Most platforms will support the two. We offer all platforms that are compatible with Rithmic or CQG connections, and we also have our own platform with dedicated lines and servers that are colocated at CME.
If you are looking for good options trading software, I would recommend our platform, Firetip X. It offers realtime SPAN margining, greeks, spread creation etc.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following user says Thank You to Ironbeam for this post:
We offer everything under the CQG and Rithmic umbrellas as well as some of the TT products. There are too many to list, but I'll list some of the more popular 3rd party platforms that we see a lot of customers signing up for: R Trader, Sierra Chart, TradingView, Jigsaw, MultiCharts, CTS, Bookmap, Trade Navigator, and QST.
Mike Murphy
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following user says Thank You to Ironbeam for this post:
We do support NinjaTrader licenses that were purchased prior to March of 2015.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
Yes! The Ironbeam site portal is currently undergoing a full revamp. I'll shoot you a message when we're closer to release.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
There are fees charged by data providers that we do not participate in, the $10/month CQG connection fee is one of them. While we do our best to assist with all fees charged by us, data fees related to data providers such as CQG or the exchange go to them directly without any add on fees from us.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
So as it stands, there are two versions of Firetip. There is the original Firetip desktop app, which we refer to as Firetip v8 or "Legacy". This can be run natively on Linux as a desktop app.
Now there is Firetip X, which is the one promoted on our site. The iOS, Android, and Web-based versions have all been released, and you can trade from your browser on Linux. The desktop version is being released shortly and will include a native Linux app.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following 2 users say Thank You to Ironbeam for this post:
Hello,
I just discovered Ironbeam, I have several questions that I could not see in this forum:
1) Is it possible to trade with sierrachart and at the same time monitor the active position int the account through FireTip? if not, is there a way to monitor in realtime the current open positions and orders?
I like to trade with Sierra but if there are issues with the platform I need a second way to get out of my positions. Please don't consider Rithmic as an options since Sierra is dismissing it.
2) can you set up an account with sierra datafeed?
1. Yes, you could do this although it is not recommended. If you are trading on Sierra you should be monitoring your positions through Sierra. Firetip gets copies of the trades in realtime and will display your current positions. If you experience downtime with Sierra you can call our trade desk and we can immediately offset positions for you whether Sierra is functional or not.
2. Sierra does not have their own data feed. They have "Denali" which is a rebranding of the TT connection. We do not currently support the TT/Sierra connection. Most of our Sierra customer connect via CQG.
3. Yes, all Firetip orders are held server-side.
I apologize for the delay in response!
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,412 since Jun 2009
Thanks: 32,068 given,
96,715
received
Hi guys,
It is my pleasure to welcome Mike Murphy & Brandon Barr @ Ironbeam for our 397th webinar event, on Thursday, August 6th @ 4:30 PM Eastern US. This webinar was originally scheduled for July 23rd, and now rescheduled for August 6th.
The title for the event is "Live Video Ask Me Anything w/Ironbeam Brokerage Team", and bullet points include:
- Who is Ironbeam & What Trading Solutions and Technology Does Ironbeam Offer
- Free Platform and CME Market Data for 2020
- No Account Minimums
- SPAN margins across all products
- Learn About Our Direct FCM Relationship
- Live Q&A Video Panel w/ Ironbeam Directors
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,412 since Jun 2009
Thanks: 32,068 given,
96,715
received
Everyone,
@tturner86 had an emergency and we must reschedule today's webinar. I've tentatively placed the new date for Thursday, August 6th, but Terry will confirm as soon as he is able.
1. Bid/Ask volume indicator: This is already in there. If you're having trouble finding it give me a call.
2. Delta (of Bid/Ask market orders volume) - We can add this for you no problem.
3. Market Profile type chart - I don't believe we are currently developing this but I've just added it to the list of future enhancements.
We really value your feedback on the platform and we can develop new features quickly. I'd love to chat on the phone if you have time, my number is listed below.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following user says Thank You to Ironbeam for this post:
1. Bid/Ask volume indicator: I meant breaking out the contract volume On the Bid versus On The Ask. TT (Trading Technologies) has AVOL and BVOL indicators. ATAS combines it into one indicator (see below):
bid-ask-volume
(1) Is the contract volume on the Bid.
(2) Is the contract volume on the Ask.
(3) Is the Delta (difference) between the two.
The following user says Thank You to ichack17 for this post:
I've asked our developers to add it. It will be in the formula list shortly!
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following user says Thank You to Ironbeam for this post:
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,412 since Jun 2009
Thanks: 32,068 given,
96,715
received
Hi guys,
It is my pleasure to welcome Mike Murphy & Brandon Barr @ Ironbeam for our 397th webinar event, on Thursday, August 6th @ 4:30 PM Eastern US. This webinar was originally scheduled for July 23rd, and now rescheduled for August 6th.
The title for the event is "Live Video Ask Me Anything w/Ironbeam Brokerage Team", and bullet points include:
- Who is Ironbeam & What Trading Solutions and Technology Does Ironbeam Offer
- Free Platform and CME Market Data for 2020
- No Account Minimums
- SPAN margins across all products
- Learn About Our Direct FCM Relationship
- Live Q&A Video Panel w/ Ironbeam Directors
Thanks for reaching out. We treat every customer individually and set up everything custom per account from a platform, margin, and commission standpoint. We work with a wide range of customer types; the customer who's running an algorithm colocated at the CME datacenter is going to have vastly different requirements from us than the farmer who just needs to sell come corn contracts 8 months out and hold.
Typically we just have a brief conversation with our prospective customers and figure out what their goals are and what kind of margins and software they need from us to be the most successful and we will send them a commission proposal from there.
I've attached our fee schedule along with a dummy commission schedule. We give futures.io members very competitive rates.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following 7 users say Thank You to Ironbeam for this post:
My NinjaTrader license was purchased in July, 2016. As a Canadian customer, Ninja referred me to GFF as my IB with trades executed by IRONBEAM, and a $10/mo Ninjatrader patform cost. As I'm understanding the costs in the business and shopping for a new broker, I realize that I'm paying too much on round-turn commissions with GFF.
In addition to featuring your Firetip X platform on Thursday's webinar, please show us how to keep our costs down while using our chosen trading platforms. Would you break down the costs for me using NT and being a Canadian trader?
Thank you,
Raymond
The following 2 users say Thank You to Pocketful for this post:
Direct Ironbeam customers do not incur additional costs based of where they are located (we don't charge Canadian customers anything extra).
I can't speak for Introducing Brokers or other firms as they control their own commission rates. So I unfortunately wouldn't be able to outline their costs for you. Your best bet would be to call the broker for an explanation, I am sure they would be happy to help.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
other brokers seem to have offers or offer free trading platforms eg sierra charts, multicharts etc which make them attractive.. is there any plan for that by ironbeam in the near future? Firetip X doesnt seem have on advanced chart trading with OCO brackets if not mistaken. Also do you set up SIM accounts for your clients?
- do you receive TransferWise trading account deposits?
- what's the total commission and fees for a roundtrip (1 futures contract in and 1 out) for trading MES futures?
Thanks and looking forward,
Liv
The following user says Thank You to Liv Pro for this post:
- do you receive TransferWise trading account deposits?
- what's the total commission and fees for a roundtrip (1 futures contract in and 1 out) for trading MES futures?
I have something I forgot to ask at the AMA, hopefully you can help me out. When using FireTip X, lets say I open an ES position and I know you get that red line through the DOM/Advanced Trader indicating your current position(or rather your breakeven point). Now when you open 2 or more positions (at different values/prices) I notice the red line indicates your breakeven point (or profit/loss point) between all your current positions. I know I can look at current positions in Account Details, but is there a way I can mark my individual open positions on the DOM? If not is that something you could consider adding?
Thanks again, I appreciate all the information you guys have been giving out. I really appreciated that AMA.
The following user says Thank You to Damitsall for this post:
I'm glad you enjoyed the AMA. That would be a cool feature... So you'd want a line for each contract's entry price basically?
We were just discussing how we can add more customization to plotting formulas on the DOM. So in theory we could create a formula that gives current position entry prices for all your positions and it would plot to the DOM as lines like the one you already see for current average entry price. I want to make sure I got your request right though, so is that what you'd be looking for?
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following user says Thank You to Ironbeam for this post:
Basically, thats what I was looking for. Just to add on to that, instead of changing the red line (for your average entry point), maybe use some other type of marker on the DOM to indicate you have a position there, which could be a different color line, or even just a blue or red triangle in the top left corner of market price where your position is, maybe even use a number in the corner to signify how many contracts you have at a particular price.
Just some ideas how to put it on the DOM. It would just be a lot easier to be able to take a peak at the DOM and see all your current positions.
Thanks again for even reading suggestions. I think that says a lot about IronBeam.
The following user says Thank You to Damitsall for this post:
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,412 since Jun 2009
Thanks: 32,068 given,
96,715
received
I don't see any prior post history from you on this thread. So I assume you mean during the live Q&A?
I'd like to have some detail to attempt to defend your rude name calling.
@tturner86 can you find this person's question the he says he asked four times and send me the details.
Motivated by the information I found on this fine site, I'm considering moving to Ironbeam. I've seen some of the videos; however, the Ironbeam Firetip X platform does not have a comprehensive Users Guide, Help Library or other written documentation, which would have been helpful.
Anyway, from what I can determine, Firetip X has no Order Type that is similar to Trading Technologies' TT Trailing Limit Order. That order type is well-documented here:
I would also like to know what the question was. I did my best effort to answer every question that was in the list, and I am fairly confident I was able to do so.
@Big_Mike @tturner86 Were you able to find anything?
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
Thanks for the suggestion! I forwarded it over to our development team. I'm not sure how it will be prioritized but I like the idea and hope to see it in future updates. I'll let you know if/when it is added.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
You are correct about the trailing limit order, we do not currently have that. I did forward over your link and post to our development team to see if it would be something we can implement.
As for the written guide, I can send you a copy via email. Please DM me and I can send you the full guide as well as API / Formula documentation.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following user says Thank You to Ironbeam for this post:
I was just provided with the questions transcript from the Q&A and it looks like I did miss your questions somehow, although about 14 minutes in I had already covered MBO/Rithmic. I apologize, I assure you it was not intentional as this is a pretty easy one to answer.
The answer to your first two is yes, the data will be identical as it is supplied from CME (Bookmap receives the same MBO data as us).
The answer to your last questions is I am not sure. There are too many trading platforms out there for me to be intimately familiar with. But I know that the first step will be simply adding MBO to the DOM/ladder so that you can see buy/sell order sizes at every price increment instead of the standard ten levels.
I should also politely add that we did our best with the AMA (it is our first) and I genuinely thought we got to all of the questions.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following 2 users say Thank You to Ironbeam for this post:
Hey Guys! I just wanna say, "Thank You" for going through the effort to find my questions! I do appreciate the response! I really goes to show that you guys are committed to providing good customer service which is a biggie to me.
I've been hesitating to sign-up with @Bookmap. When I heard u guys mention u were implementing MBO data it was music to my ears! I am interested to learn more as you develop that side of your platform. Please keep me posted.
The following 2 users say Thank You to madeinnyc for this post:
I'm a little late with my question, but I am just reaching the point where it has become relevant. I did go back and review all of the questions and answers related to joining IronBeam as a Canadian trader. However, I have the following additional question, if you would be so kind.
I do have a USD bank account. I have the MICR-encoded account number. Question: Will it be possible to deposit and withdraw money from the IronBeam account by connecting my bank account to my trading account? If so, are there any fees associated with depositing/withdrawing? If not, what are the options for Canadian clients?
You can fund via your bank account as long as the account is in your name. You can deposit via ACH at no charge if you have a US bank account. If your bank account is Canadian, you would need to fund via either check or wire. You can withdraw for free via check. Wire withdrawals are $40, or $60 if international.
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.
The following user says Thank You to Ironbeam for this post:
I am giving this a bump. It originally was posted in another thread, and may have missed receiving attention at the time. Today I copied it into this thread, but it came in with the original date, which is in the past. So I am bumping it so @Ironbeam will have the opportunity to see it and respond to @Liv Pro's questions.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
The following 2 users say Thank You to bobwest for this post:
Hi, I'm an Ironbeam client through Optimus, currently using CQG data within Sierra Charts and have a couple of questions for you.
First question is on CQG's full suite of data. I'm looking for real-time cash index as well as equity data which CQG has. After speaking with Optimus this afternoon they have advised that Ironbeam doesn't offer this data though. Is there a reason for this? I believe that these data options are available through other brokers so was curious as to why you don't have them.
Second question regards the TT/Sierra connection. You've mentioned above that you do not currently support this. Is there any intention of doing so in the future? Sierra's data options seem to be expanding (and include cash indices as well as equities) and are reasonably priced. If the full suite of CQG data isn't available, having Sierra's Denali feed as an executable option would be great and would eliminate the need to subscribe to 2 different data sources.
The following user says Thank You to MWG86 for this post:
If it's ok with you I'd like to address this because you are our customer:
1) Here are the data points that CQG can enable Here
If Iron Beam can enable, we can request it. As you see, these are not free.
2) Iron bean does not have the TT/Sierra execution. However, you can see get their data (denali) and execute via your CQG. Denali is viewable data, not executable data. This is to the best of my understanding.
I have not seen any significant improvement in TT over Rithmic or CQG in terms of execution.
Maybe user experience is different, so again, this is just an opinion.
Thank you,
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
The following user says Thank You to mattz for this post:
On point 1, I did speak with Jake this afternoon. He reached out to Ironbeam and they indicated that they could not enable what I was looking for (S&P Indices & NYSE equities) through CQG. I understand that there are additional fees and am willing to pay if the data is available.
Please let me know if you'd rather take this discussion off-line.
The following user says Thank You to MWG86 for this post:
Yes, please. I only answered because you mentioned Optimus.
I'd be glad to help. Drop me an email.
Have a good weekend.
Thank you,
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
The following user says Thank You to mattz for this post:
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,412 since Jun 2009
Thanks: 32,068 given,
96,715
received
Hi guys,
It is my pleasure to welcome David Lerman @ CME Group and Mike Murphy @ Ironbeam Futures for our 403rd webinar event, on Tuesday, November 10th @ 4:30 PM Eastern US.
The title for the event is "Trading Energy Options", and bullet points include:
- An immersive educational experience from CME Group & Ironbeam
- Master the greeks to drive opportunity in today’s options markets
- Discover how QuickStrike can help manage the multidimensional nature of options
- Learn what’s moving energy markets going into the new year
So much for the support.
I inquired/emailed about the commission fee and platform about 2 weeks ago twice yet IRONBEAM never replied back.
Maybe because I am from Canada or was it because of the small account size I was going to open?
I am not sure which email address you sent to, but the only record we have of your email in our system was when you clicked on a Futures.IO promotion Saturday night. We are closed on Saturdays and our brokers are not in the office until Monday morning. I've sent you an email to follow up. I assure you no one ignored your emails, it just looks like we haven't received anything
Mike
Feel free to reach out with any questions. (312) 765 7228. There is a substantial risk of loss in trading futures and options. Past performance is not necessarily indicative of future results. Full Details.