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Zenfire no more?
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Zenfire no more?

  #741 (permalink)
Osky
Buenos Aires
 
Futures Experience: Beginner
Platform: ninja trader
Favorite Futures: ES
 
Posts: 10 since Nov 2010
Thanks: 0 given, 2 received

Changing MiruZen fire to optimus-Rithmics

Is a good decition?

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  #742 (permalink)
Elite Member
Charlottetown, Prince Edward Island
 
Futures Experience: Advanced
Platform: Ninja
Broker/Data: Optimus - Rithmic
Favorite Futures: GC
 
WolfieWolf's Avatar
 
Posts: 232 since Jul 2010
Thanks: 100 given, 273 received


osky1 View Post
Is a good decition?

Fantastic decision.

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  #743 (permalink)
Schroedray
Norwalk, Iowa
 
Futures Experience: Intermediate
Platform: NinjaTrader 7
Broker/Data: Arrowfield/Kinetick/Rithmic/DtnIQ
Favorite Futures: ES, CL, YM
 
schroedray's Avatar
 
Posts: 39 since Mar 2010
Thanks: 33 given, 28 received

Sounds like PFG



romulus View Post
Just had a civil chat with Matt @ Optimus, and liked him. Among the questions I asked, was who clears for Optimus. He answered Vision Financial. I then Googled Vision, as of course, proprietary trading questions, and co-mingling issues were a warning to all futures traders with MFGlobal etc.

Does your broker do any proprietary trading? When a big position blows up, do they go looking for client funds to bail them out? Serious question, unless you want to wake up one day and discover a much worse scenario than Mirus customers are currently facing.

Sadly, the following, from the CFTC gives me significant pause. You can read it for yourselves.

CFTC Orders Vision Financial Markets LLC to Pay a $525,000 Penalty for Violations of Customer Fund Segregation Requirements, Failure to Notify the CFTC of its Under-Segregation, and Misstatements to the CFTC

"CFTC Orders Vision Financial Markets LLC to Pay a $525,000 Penalty for Violations of Customer Fund Segregation Requirements, Failure to Notify the CFTC of its Under-Segregation, and Misstatements to the CFTC"

This is disappointing to say the least. And unfortunately all too clear..

Has AMP had a similar sanctioning? Valid question. I'll be investigating this as well. And so should all of you.


I was with PFG... only they didn't get caught until it was too late. What to do, I also was looking at optimus. Glad I am a member here at futures.io (formerly BMT), you guys are great at catching these kind of indiscretions, wish I could have saved my PFG account, but didn't see that one coming.

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  #744 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,786 received
Forum Reputation: Legendary


schroedray View Post
I was with PFG... only they didn't get caught until it was too late. What to do, I also was looking at optimus. Glad I am a member here at futures.io (formerly BMT), you guys are great at catching these kind of indiscretions, wish I could have saved my PFG account, but didn't see that one coming.

I was solicited by PFG. They offered me the moon and the stars as an IB and I opted out.
I saw decreasing volumes on the exchange ,low interest rates, low commissions and yet they were building an 18 million dollar building in Iowa when the rest of us "bled". They had the SFO magazine, nice piece of glossy brochure, yet publishing business was suffering. There were early warning signs.

Big firms get fines. Check all the big ones..PLEASE DO! It does not mean that they are going bankrupt, it means they need to change procedure. Big firms will get hit all the time in my personal opinion.
Besides fines, check for net-cap, who has membership on the exchange, etc

Just like yourself, I am also concerned because my livelihood depends on the clearing firm. I saw in the last decade Refco, MF, PFG, etc and none of my customers affected while I was with Vision.

Go with who ever you feel comfortable.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.

Last edited by mattz; January 9th, 2014 at 11:32 PM.
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  #745 (permalink)
Elite Member
Tomsk, Russia
 
Futures Experience: Beginner
Platform: custom
Favorite Futures: gold
 
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Posts: 253 since Dec 2010
Thanks: 131 given, 427 received


osky1 View Post
Is a good decition?

In case you are looking for the most professional team among the Rithmic-based solutions - the answer is Yes.

Scientia Libertas Prosperitas
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  #746 (permalink)
Trading for Fun
New York, USA
 
Futures Experience: Master
Platform: NinjaTrader
Broker/Data: Mirus/Continuum//FuturePath/Rithmic
Favorite Futures: Currency Futures, Treasury Futures
 
jaytrades's Avatar
 
Posts: 80 since Jun 2011
Thanks: 22 given, 78 received

I also considered PFG 4 years ago, I can't remember exactly what caused me to not go with them. Maybe becuase they kept contacting me so much and at the time I took a quick peek at Woodie's, if anyone remembers that guy... he was hugely into a customized CCI with a whole book and procedure for reading it, and they had a 'chop indicator,' and lots of colors and names for their CCI's patterns, and a little tiny line way up at the top of the analysis that you could hardly see and that was the price bars of the instrument under analysis...

I also had the pleasure of speaking to Matt today, he took time to answer my questions and I got right thru to him, it's great to see him here helping out, thanks, Matt.

On the bright side of my situation, I started taking my forex trading more serioiusly since it's about all I can trade these days, and gee, I bagged a few longer time trades with 50+ pip gains, so even without the futures, there is still hope for me after all, see ya all at 5am for more of this, GN

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  #747 (permalink)
 Vendor: futurepathtrading.com 
Chicago Illinois
 
Futures Experience: Master
Platform: Photon, CQG, TradeStation
Favorite Futures: ES
 
Posts: 5 since Jan 2014
Thanks: 0 given, 14 received

Ninja + Rithmic..at multiple FCMS and options

Hi Gang!
Just to let you know, my husband's firm, FuturePath Trading can do Ninja -Rithmic at multiple FCMs - they are an IIB who clears KCG (Knight), Vision, FCStone, NewEdge, Dorman, and a few others - so....plenty of options. Super rates. They can also offer Photon Trader, Multi Charts, Trade Navigator, CQG, TT....... if you want to consult about assorted options and connectivity solutions to keep your Ninja, Damon is happy to help.
I became a client of FuturePath back in 1999 for my CTA, and have been doing all my execution there ever since. Damon used to do my execution in the SP pit back in 1991...and 4 years ago I went from being a happy client of his to a happy wife :-)
Please feel free to email him at DPavlatos@FPTrading.net, even for the most simple of questions. or, visit FuturePath Trading's website.
I have been through so many disruptions over my career, from the time the Chicago river flooded the basements of the clearing firms (they all shut down for three days), to 911 when my trade desk was through Refco's office one block from the WTC, to Refco's demise, then MFGlobal's demise....yup, am still waiting for funds back from them. Part of the business, but an unfortunate stressor. In the menatime, I wish everyone the best for a positive upbeat 2014 going forward!
Linda Raschke

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  #748 (permalink)
 Vendor: futurepathtrading.com 
Chicago Illinois
 
Futures Experience: Master
Platform: Photon, CQG, TradeStation
Favorite Futures: ES
 
Posts: 5 since Jan 2014
Thanks: 0 given, 14 received

HI Mattz, I did not mean to step on your toes. I checked with Big Mike first, who gave me this link. FuturePath has had Rithmic for an extended period of time, too. And, yes, Damon is very good friends with the folks at Vision...you might even know him - Damon Pavlatos. As an aside, I actually had an account with them in 1991 in their New York office, and it was a broker there who first encouraged me to become a CTA. This is a large industry with many clients with different needs. Different brokers and IIB service different clients, so everyone ends up developing a niche. I am sure your clients are very satisfied customers. I wish you well - Linda

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  #749 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,786 received
Forum Reputation: Legendary


LindaR View Post
HI Mattz, I did not mean to step on your toes. I checked with Big Mike first, who gave me this link. FuturePath has had Rithmic for an extended period of time, too. And, yes, Damon is very good friends with the folks at Vision...you might even know him - Damon Pavlatos. As an aside, I actually had an account with them in 1991 in their New York office, and it was a broker there who first encouraged me to become a CTA. This is a large industry with many clients with different needs. Different brokers and IIB service different clients, so everyone ends up developing a niche. I am sure your clients are very satisfied customers. I wish you well - Linda

Same here, I wish you well. A bit sensitive about the Rithmic issue because we have promoted it for years, built a network around it, and our entire risk managenent for customer service is around it. Also, our clearing firm did not have demos in real time so we outsourced and worked with Rithmic to provide it for every necessary platform that takes the Rithmic API.
As you know, Rithmic cant just be demoed generically and needs special accommodation for each platform. Anyhow, it was a lot of work. Now, all of a sudden everyone is promoting Rithmic when promoted it exclusively for years.
I deleted my sarcastic comments to maintain the peace at futures.io (formerly BMT). All good.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #750 (permalink)
Elite Member
Montreal, Canada
 
Futures Experience: Beginner
Platform: NinjaTrader, Multicharts
Favorite Futures: ES
 
Posts: 96 since Dec 2011
Thanks: 46 given, 84 received


Linda, is there anywhere where I can get hold of information such as contract details, commissions and fees and such for FuturePath? There's very little information on the website (http://futurepathtrading.com/index.html).

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