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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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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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.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
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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.
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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I didn’t. As you know, the exchange, regulatory & technology (often) fees are not compressible and the same everywhere. In terms of pure commissions, $ 0.33 per side ($3?36 per RT on the YM) is lower than AMP (fixed: $ 0.50), Edge Clear (default: $ 0.69) and every other, unless you're very high volume and can benefit from Advantage's tiered structure directly, for instance.
The choice of FCM is more primordial than the Introducing Broker, hence I'm investigating. I've dealt with Advantage in the past satisfactorily and it is valued here. The members of this shop are identified and screened by the NFA
My building’s neighborhood has a company called Sierra Trading, I don’t mind it. If this broker wanted to simplify his offer by offering SC only and match their name accordingly, fine with me without over-suspicion. I mentioned them on the SC board and SC didn't seem bothered.
By the way, there are reputable brokers frequently recommended here with whom you can notice so-so practices in terms of sale strategies & speeches, up within webinars. So sorry, I'm neutral, impartial & asking for fair opinion.
Lastly, it is advertised on FIO banners, so let's make together due diligence further please.
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Hey guys,
Zytrade is a new Site Sponsor here at futures io as of this month. It is their brokerage that is offering the "Sierra Brokers" branding, marketing to those traders using Sierra Chart (quite a few here at FIO).
I've actually been working with Devin for a few years to get them onboard as a site sponsor, previously under the Halifax name.
There will be an introductory webinar that covers the product and offers Q&A from Zytrade (Sierra Brokers) shortly. I'll post notice in this thread once it's ready for registrations.
Info gathered not showing on the site :
* 50 € / mo for Eurex access charged by Advantage (excluding data)
* 2500 € intraday margin for FDAX instead of 50% possible, to be negotiated
* EUR funding with european bank
* international withdrawal $40 (USD) or $50 (EUR)
* FX conversions < $10k, $40
* no inactivity fees
Advantage Futures is known to be accommodating tech setups.
What I’d like to see covered is the explanation of the SC order routing (TT FIX) coupled to Eurex trading (not only data) for an extra flat monthly fee of 50€ + 23€ for data.
As far as I know, it’s the only accessible FCM capable to arrange this custom combination at the moment.
Even SierraChart recommends CQG or TT when it comes to Eurex trading (not only data), over their own SC order routing via TT FIX...
So in my opinion, it’s a unique situation, that adds up to commissions as well as intraday margins that can go lower (got the confirmation) than the retail aggressive AMP, while still giving access to a larger FCM, usually targeting rather semi-pros. https://www.nfa.futures.org/BasicNet/basic-profile.aspx?nfaid=UQ97gzPKMxI%3D
At the moment, I’m seeing rather pros than cons & a distinguishing offer, filling a gap.
Only the misc fees like withdrawals and especially the tiered FX conversions can be sensitively higher though.
Sierra says EUREX is not technically available yet with their Denali - TT trading solution. Currently only CME exchange is technically available by Sierra Chart for their Denali - TT trading solution. Are they telling you EUREX is available ??
With Sierra Broker, aside Denali / SC order routing - TT FIX (not TT) for the CME, support answered that Advantage Futures can additionally setup Eurex for 50 € /mo + Eurex data for 23€ /mo
Confirmation please ?
So, is this “broker” a one man operation like DeepDiscountBroker is ?
Still Missing In Action, since more than 10 days...
Although I believe that once setup, you can rely on the FCM instead of IB, luckily ?
Disappointing event, cause on paper, it was a perfect fit to suit my needs.
I am sorry you are having trouble. You can reach us at 888-240-7099 or email me directly at dbrady@zytrade.com.
Since our firm was established in 2011 we have had a couple of name changes, but our our team has been together for much of that time.
We have over 50 years of combined experience in assisting clients and hope to assist you in your trading needs.
Thanks,
Devin Brady
Risk Disclaimer: There is a substantial risk of loss in trading futures, options and forex. Past performance is not necessarily indicative of future results.
Risk Disclaimer: There is a substantial risk of loss in trading futures, options and forex. Past performance is not necessarily indicative of future results.
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NOw I am wondering does it include Sierra TT Order Routing
