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Can brokers piggyback on their customers?
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Can brokers piggyback on their customers?

  #1 (permalink)
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Can brokers piggyback on their customers?

Is there any reason that a broker would not be able to copy the trades of their most successful customers? Seems like it wouldn't be hard for them to do. Just curious.

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  #2 (permalink)
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  #3 (permalink)
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jdox View Post
Is there any reason that a broker would not be able to copy the trades of their most successful customers? Seems like it wouldn't be hard for them to do. Just curious.

@mattz may have input.

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  #4 (permalink)
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Big Mike View Post
@mattz may have input.

Mike

@Big Mike, I have found that those who do not trade, or paper trade are concerned with being copied. Sadly, they also have other concerns that are at times not relevant to trading.

Those who do trade, realize that brokers in day to day operations are involved in:
1) Sales - bringing customers on board
2) Monitor Risk - in case of unexpected moves
3) Servicing customers who encounter technical issues or have general questions

In case there is a bored broker that all he does is look for successful trades to imitate, he will experience a VERY SHORT career span.

This is a service industry, and regardless of skill, success, and risk capital, all we do is take care of the customer from all aspects: technology, fast response time, and other things that are relevant to that specific trader. We do not engage in trying to imitate or duplicate traders.

I hope this answers what brokers do, or should do.

Thank you for the opportunity to answer this.

Matt
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  #5 (permalink)
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Nicely put. Though not a broker...Agree on what you said @mattz

and even if someone did....it would be so ridiculous to play blind

interesting question....good reply


mattz View Post
@Big Mike, I have found that those who do not trade, or paper trade are concerned with being copied. Sadly, they also have other concerns that are at times not relevant to trading.

Those who do trade, realize that brokers in day to day operations are involved in:
1) Sales - bringing customers on board
2) Monitor Risk - in case of unexpected moves
3) Servicing customers who encounter technical issues or have general questions

In case there is a bored broker that all he does is look for successful trades to imitate, he will experience a VERY SHORT career span.

This is a service industry, and regardless of skill, success, and risk capital, all we do is take care of the customer from all aspects: technology, fast response time, and other things that are relevant to that specific trader. We do not engage in trying to imitate or duplicate traders.

I hope this answers what brokers do, or should do.

Thank you for the opportunity to answer this.

Matt
Optimus Futures

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


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  #6 (permalink)
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mattz View Post
@Big Mike, I have found that those who do not trade, or paper trade are concerned with being copied. Sadly, they also have other concerns that are at times not relevant to trading.

Those who do trade, realize that brokers in day to day operations are involved in:
1) Sales - bringing customers on board
2) Monitor Risk - in case of unexpected moves
3) Servicing customers who encounter technical issues or have general questions

In case there is a bored broker that all he does is look for successful trades to imitate, he will experience a VERY SHORT career span.

This is a service industry, and regardless of skill, success, and risk capital, all we do is take care of the customer from all aspects: technology, fast response time, and other things that are relevant to that specific trader. We do not engage in trying to imitate or duplicate traders.

I hope this answers what brokers do, or should do.

Thank you for the opportunity to answer this.

Matt
Optimus Futures

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

So in other words, it is possible for brokers to be able to do this.

If I owned a brokerage and knew that one of my customers was making 10000% returns on his money, I'd just have some software make the exact same trades as the super trader customer. with my own account. Why wouldn't a broker do this?
Anyway thanks for answering my question.

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  #7 (permalink)
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paps View Post

and even if someone did....it would be so ridiculous to play blind

So if you had access to someone who consistently made tens of millions of dollars trading and you had the ability to make the EXACT same trades as that person, you wouldn't do it?

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  #8 (permalink)
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jdox View Post
So in other words, it is possible for brokers to be able to do this.

If I owned a brokerage and knew that one of my customers was making 10000% returns on his money, I'd just have some software make the exact same trades as the super trader customer. with my own account. Why wouldn't a broker do this?
Anyway thanks for answering my question.

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.

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  #9 (permalink)
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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.

If I owned a brokerage and wanted to do this, I would only copy the trades of the top couple customers. I doubt they'd have any interest in making less money when they could make more. I also don't think they'd give access to just anyone who works there. I would imagine if anyone did it, it would be the people at the top of the company.

The main question I had was if there was anything in place to keep this from happening. Doesn't sound like there is.

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  #10 (permalink)
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@jdox i respect your question. Hence said it was interesting. maybe you have a view which could be done.

am hoping someone who is making mills...is not playing with some of the retail platforms n brokers

cheers
s

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