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Sierra Brokers (Zytrade)


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Sierra Brokers (Zytrade)

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  #1 (permalink)
Strat Enthusiast
Chiang Mai Thailand
 
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Seen this on another forum.

I think the writing has been on the wall for a while that the guys at Sierra Chart were going to move into the brokerage space.

https://sierrabrokers.zytrade.com/




So the platform and Denali feed is free?
I dunno.
I emailed them to find out.

Attractive offering though if it is.


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  #2 (permalink)
Revali, EE
 
 
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33˘ per side NOw I am wondering does it include Sierra TT Order Routing

 
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  #3 (permalink)
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ninjus View Post
Seen this on another forum.

I think the writing has been on the wall for a while that the guys at Sierra Chart were going to move into the brokerage space.

[...]

This is not Sierra Chart becoming a broker. This is a different company calling itself Sierra Brokers. Formerly called Halifax America. Here's their registration: https://www.nfa.futures.org/BasicNet/basic-profile.aspx?nfaid=gZW%2B%2FyK4ViI%3D

The point being not to confuse the public as to whom you are doing business with. This isn't Sierra Chart but someone with a URL that makes it seem that way.

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  #4 (permalink)
Strat Enthusiast
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That certainly seems apparent after the email I got back.


Hello Justin,

You will have to purchase Sierra Chart/Denali through Sierra Chart. Below are the price breakdowns for Sierra Service Package 3 and 5:



Commissions will be just $.33 a side + exchange fees.

Moving on...


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The first thing you should do is notice that URL is "zytrade.com" (and the fine print at the bottom says this as well) ... Then you'd check Sierra's web site and forum and note no posts there.. do your due diligence gentlemen, otherwise you might be buying a bridge...

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  #6 (permalink)
SF, CA/USA
 
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Location in Southern California. Not Sierra.

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josh View Post
The first thing you should do is notice that URL is "zytrade.com" (and the fine print at the bottom says this as well) ... Then you'd check Sierra's web site and forum and note no posts there.. do your due diligence gentlemen, otherwise you might be buying a bridge...

Lol!

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  #8 (permalink)
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While I agree with @ninjus that SC is clearly aiming to move into a larger role that goes beyond the traditional boundaries of a trading platform (now providing a data feed and soon probably a trade settlement network), brokerage is another matter altogether. Brokers are essentially customer-facing, customer-service type organizations (read: sales). This is not too consistent with SC's demonstrated priorities, as anyone who is familiar with their user "support" board will know.

I am a long-time and committed SC user, and I have a very high opinion of them. But I just don't see them in this role, somehow.



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  #9 (permalink)
La Massana, Andorra
 
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Viro Major's Avatar
 
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Has anyone a practical experience with them ? The offer is simple and the support appears minimal from my interraction.

However, I found out they clear through Advantage Futures, which is an interesting, solid & reputable FCM... usually accessible more to high frequency traders, prop firms & HF, known within the Chicago area.
The default commissions are obviously unmatched (maybe beat by Edge Clear pools’ structure for FIO, to assess later).
The margins seem more flexible than going directly through Advantage (very conservative otherwise), although it’s still to verify in practice, especially if you size up or with foreign exchanges like Eurex.

Any input from actual use ? The IB launched late in 2019, fairly recently, so not much feedback in the rearview mirror.

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  #10 (permalink)
Legendary Market Wizard
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Viro Major View Post
The default commissions are obviously unmatched


Did you miss the "+ exchange fees" part? No way they're cheap. You want a broker located in Van Nuys, with no human face to put to the brokerage, and who is clearly trying to appear to be affiliated with Sierra Chart (the name, and the mention of Denali)?

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