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Infinity (TransAct) horrible


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Infinity (TransAct) horrible

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  #1 (permalink)
 longboat 
Philadelphia, Pa
 
Experience: Advanced
Platform: Ninja Trader
Broker: Amp/CQG
Trading: CL, ES
 
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Posts: 147 since Jun 2009
Thanks: 901 given, 214 received

I decided to try Infinity Futures which was just purchased by NinjaTrader. Now they are calling themselves TransAct. What a horrible experience. Complete misinformation was given to me to open an account. Get your commission rates in writing. They wouldn't give me that and was higher than my AMP account. I was attracted by their low margin rates. $750 to trade Soybeans for example. The kicker was when I was asked what I want to trade so they could enable that instrument. I said I want everything like I had at AMP. They wouldn't do that. I said ok enable Crude and gas. They said no I would need over 10k in my account to trade just oil and gas! They list most instruments at 1,000 margin, but that is a come on. If you trade more than one instrument they want you to have over 10k. If you want to trade 4, who knows 50k?! They assume you could open a position in every instrument you enable at the same time their software doesn't prevent that?

Oh yea they charged me $12.50 to receive my check deposit and held it 10 days to clear it. $12.50 to mail my balance out which they still have not done after 2 requests! Stay away. I love AMP and I won't leave.

infinity is a disgrace. I have had accounts for 40 years and this is the worst. False information and no disclosure of the facts.

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 xplorer 
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longboat View Post
I decided to try Infinity Futures which was just purchased by NinjaTrader. Now they are calling themselves TransAct. What a horrible experience. Complete misinformation was given to me to open an account. Get your commission rates in writing. They wouldn't give me that and was higher than my AMP account. I was attracted by their low margin rates. $750 to trade Soybeans for example. The kicker was when I was asked what I want to trade so they could enable that instrument. I said I want everything like I had at AMP. They wouldn't do that. I said ok enable Crude and gas. They said no I would need over 10k in my account to trade just oil and gas! They list most instruments at 1,000 margin, but that is a come on. If you trade more than one instrument they want you to have over 10k. If you want to trade 4, who knows 50k?! They assume you could open a position in every instrument you enable at the same time their software doesn't prevent that?

Oh yea they charged me $12.50 to receive my check deposit and held it 10 days to clear it. $12.50 to mail my balance out which they still have not done after 2 requests! Stay away. I love AMP and I won't leave.

infinity is a disgrace. I have had accounts for 40 years and this is the worst. False information and no disclosure of the facts.

Hi longboat.


I am going to close this thread to prevent a split topic. Please can you use the following thread if you wish to provide a review.

Thanks


The following user says Thank You to xplorer for this post:

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