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Zumo (IB of Farrfinancial)
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Zumo (IB of Farrfinancial)

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Elite Member
Zurich, Switzerland
 
Futures Experience: Advanced
Platform: ...
Broker/Data: ...
Favorite Futures: ES, CL
 
ScaredTrader's Avatar
 
Posts: 2 since Jul 2010
Thanks: 1 given, 1 received

Zumo (IB of Farrfinancial)

I would like to know whether anybody has any experience with Zumo (zumo.com) and their front-end "Firetip".
  • It is a java-based application.
  • Interesting feature: OCO linked orders reside on the broker's server; so when internet connection goes down, the OCO will still be executed correctly.
  • As far as commissions are concerned, they are probably the cheapest: $ 0.50 per side, no transaction fee or anything.
  • There is though a monthly platform fee of $ 89 should the balance of one's account drop below $ 15000 (should not be an issue for professional traders).
Would be interesting to hear from you regarding:
- Stability of the platform
- Service of order desk etc. if needed (competent, fast/slow)


Last edited by ScaredTrader; July 9th, 2011 at 07:56 AM.
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  #3 (permalink)
Elite Member
La Jolla, CA
 
Futures Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker/Data: Advantage, Trading Technologies, OptionsCity, IQ Feed
Favorite Futures: CL, NG
 
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ScaredTrader View Post
I would like to know whether anybody has any experience with Zumo (zumo.com) and their front-end "Firetip".
  • It is a java-based application.
  • Interesting feature: OCO linked orders reside on the broker's server; so when internet connection goes down, the OCO will still be executed correctly.
  • As far as commissions are concerned, they are probably the cheapest: $ 0.50 per side, no transaction fee or anything.
  • There is though a monthly platform fee of $ 89 should the balance of one's account drops below $ 15000 (should not be an issue for professional traders).
Would be interesting to hear from you regarding:
- Stability of the platform
- Service of order desk etc. if needed (competent, fast/slow)

I've used Zumo in the past because of their commission structure. Firetip is fine, a little quirky but it gets the job done if you're just looking for plain vanilla order types. I only used the DOM and had to shrink the entire window to wrap around the DOM. The system doesn't allow you to pop out the windows (very annoying). I never had a problem with the service and only had a problem with the feed once which was quickly fixed. I stopped using them simply because I wanted to use a more sophisticated order entry set up. Keep in mind most of these brokers are going to have some hung over kid just out of college that will be answering the phones but they seemed fairly knowledgeable. My broker was Arman (he wasn't one of those college kids I was referring to) and he was very knowledgeable and easy going. Not a bad deal just make sure to meet their minimums to avoid that monthly fee. Oh, and make sure you have a separate charting system.

Cheers,
PB

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