I just got the news from elitetrader and confirmed it on my computer with little snitch network monitor that ninjatrader is logging live trades via NtLogExecution.php.
In this case what I was seeing was every time a trade was made through NT via an external broker it would post the trade to NinjaTrader's servers to a script called "NtLogExecution.php". I searched around on the Net and saw no mention of this so I'm wondering if people even know about it. I'm not sure if NT7 does the same thing.
What it posts to that script is your account number/name at your broker, broker name, instrument traded, exchange, date/time, type of transaction, price transaction was done at and some other stuff that I don't know what it is. It's posted in real time as you do each trade. And if that wasn't bad enough it's posted in plain clear text across the internet.
This is a huge red flag and is seriously screwed to be capturing this type of information up if you ask me. Why would they need to do this? I can think of a bunch of nefarious reasons but no legitimate reason. I don't think it's hard to imagine how this information could be used against traders for someone else's gain not to mention leaking personal information like account numbers, brokerages used, and such.
That is unacceptable. I cancelled already my ninjatrader subscription before. I hope multicharts isn't doing the same!
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I understand the rational of needing to collect the BS patent fees, but as usual NinjaTrader shows their complete incompetence in how they decide to do it. It wont take long for someone to steal all of the account numbers that are being transmitted in the clear. I am surprised someone has not noticed this before now.
I don't use TT credits, so maybe there is something I did not have to read, but I don't recall ever signing something that said they could collect the info in the first place.
I certainly don't trust them to actually implement it right and not send my info even though they don't technically need it.
If this proves to be correct, and Ninja does not agree to change what they are doing, anyone using NinjaTrader should seriously consider going somewhere else.
The following 2 users say Thank You to aslan for this post:
I spoke with the president of MultiCharts, they do not do this. No tracing. Closest thing they have is debug logs, which only happens in the event a support issue exists, and the user is prompted whether or not they want to send the logs and can opt-out.
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Sure, but why collect it at all? All they need is a credit count used for NT license ABC. Better yet, why are the credits not handled on the local PC? Probably because they are not bright enough to figure out how to make that work either. Kind of sad that they are still collecting on a patent, that should be invalidated.
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