Can brokers piggyback on their customers? - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


Can brokers piggyback on their customers?
Updated: Views / Replies:2,226 / 27
Created: by jdox Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Can brokers piggyback on their customers?

  #11 (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


nathanologist View Post
Every time I've talked with anybody from my broker from the Sales to Customer Support to Trade Desk they've had no idea what my returns are. They don't seem to have access to my account balances or anything. So... I guess if you're making a lot of trade desk calls instead of software executions there might be an intercept along the way... But I don't think the average personnel have that kind of access.

All brokers and support desks should have access to balances in real time!!!
Its done for risk monitoring purposes.
and cut out the "intercept" part...another conspiracy.

Matt
Optimus Futures

There is a risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
Reply With Quote
The following 2 users say Thank You to mattz for this post:
 
  #12 (permalink)
Elite Member
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: ES
 
Posts: 76 since Mar 2013
Thanks: 708 given, 52 received


mattz View Post
and cut out the "intercept" part...another conspiracy.

Just because you're not doing it yourself doesn't mean it isn't being done. If there's nothing in place to prevent it from happening, I guarantee it's happening somewhere and probably more places than not. Why wouldn't they do it?

Reply With Quote
 
  #13 (permalink)
Elite Member
Sydney, Australia
 
Futures Experience: Intermediate
Platform: Sierra Chart, IRESS
Broker/Data: IB, IQFeed
Favorite Futures: ES, SPI, ASX stocks, options
 
Posts: 399 since Jun 2015
Thanks: 169 given, 446 received


I'm a broker.

The answer to your question is simple - it's to do with risk and business structure. A broker is a transactional business that doesn't have an appetite for risk, they make money through comms regardless if you make or lose money.

Hence why they are called "broker" not "asset managers".

They may have an asset management or prop side to the business, but they won't copy trades, no need to go into detail as they why they won't - you should already know.


jdox View Post
Just because you're not doing it yourself doesn't mean it isn't being done. If there's nothing in place to prevent it from happening, I guarantee it's happening somewhere and probably more places than not. Why wouldn't they do it?

I can guarantee you that just because you don't understand it doesn't make it true.

Reply With Quote
The following 3 users say Thank You to PeakGrowth for this post:
 
  #14 (permalink)
Elite Member
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: ES
 
Posts: 76 since Mar 2013
Thanks: 708 given, 52 received


PeakGrowth View Post


I can guarantee you that just because you don't understand it doesn't make it true.

So you're telling me that there are people who have access to the best traders in the world and are able to imitate their trades and you don't think it's happening anywhere on the planet?

Reply With Quote
 
  #15 (permalink)
Elite Member
Sydney, Australia
 
Futures Experience: Intermediate
Platform: Sierra Chart, IRESS
Broker/Data: IB, IQFeed
Favorite Futures: ES, SPI, ASX stocks, options
 
Posts: 399 since Jun 2015
Thanks: 169 given, 446 received


jdox View Post
So you're telling me that there are people who have access to the best traders in the world and are able to imitate their trades and you don't think it's happening anywhere on the planet?

Transactional businesses...

What you're asking is do people steal - then the answer is as long as something has value someone will probably try steal it. There are people with access to billions of other peoples money, do they steal it? Some like Madoff do, but most don't.

If your asking is it done systematically as part of a legitimate business plan then no it isn't.

Reply With Quote
 
  #16 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,237 received


jdox View Post
So you're telling me that there are people who have access to the best traders in the world and are able to imitate their trades and you don't think it's happening anywhere on the planet?

What is the obsession with this?

Who cares if one unethical small time broker is doing this. I don't think that this fantasy problem exists at a firm like Interactive Brokers, where a lot of serious money is trading.

Only a small time unethical broker would risk his business over something like this. Besides, most brokers know that nearly every trader loses money. Just because one trader makes money the last six months doesn't mean they will make money the next six months.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 4 users say Thank You to Big Mike for this post:
 
  #17 (permalink)
Elite Member
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: ES
 
Posts: 76 since Mar 2013
Thanks: 708 given, 52 received


PeakGrowth View Post

If your asking is it done systematically as part of a legitimate business plan then no it isn't.

No, I never said anything about it being part of a business plan. All I asked is if it was possible or if there was something in place to keep it from happening.

Reply With Quote
 
  #18 (permalink)
Elite Member
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: ES
 
Posts: 76 since Mar 2013
Thanks: 708 given, 52 received


Big Mike View Post
What is the obsession with this?


Mike

As I stated in my original post, I was curious if it was possible or if there was something in place to prevent this kind of thing from happening. All the brokers wanted to turn it into, "oh no that's not what we do, no broker would ever think of doing that". They act like I'm crazy for having the thought even crossing my mind.

Reply With Quote
 
  #19 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,237 received


jdox View Post
As I stated in my original post, I was curious if it was possible or if there was something in place to prevent this kind of thing from happening. All the brokers wanted to turn it into, "oh no that's not what we do, no broker would ever think of doing that". They act like I'm crazy for having the thought even crossing my mind.

We act like your obsessed because after you were given answers from brokers, you continue to act like an obsessed person.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #20 (permalink)
Elite Member
Chicago, Illinois
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: ES
 
Posts: 76 since Mar 2013
Thanks: 708 given, 52 received



Big Mike View Post
We act like your obsessed because after you were given answers from brokers, you continue to act like an obsessed person.

Mike

Rather than giving an answer, instead they acted like it was absurd to think such a thing. That's why I responded to the posts.

Reply With Quote

Reply



futures io > > > > Can brokers piggyback on their customers?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Improved charting for IB customers platon IB Trader Workstation 14 June 2nd, 2014 12:55 PM
Interactive Brokers customers, please vote for lower commissions and trade trader65 Currency Futures 1 July 30th, 2013 03:12 PM
U.S. approves new rules to protect futures customers ThatManFromTexas News and Current Events 2 July 15th, 2012 07:28 PM
which broker's customers are successful in average relgot Reviews of Brokers and Data Feeds 4 April 13th, 2012 03:59 PM
MF Global customers may see more payback kbit News and Current Events 0 March 15th, 2012 08:50 PM


All times are GMT -4. The time now is 07:02 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.14 seconds with 19 queries on phoenix via your IP 54.145.16.43