NexusFi: Find Your Edge


Home Menu

 





Phillips or Dorman for NinjaTrade Brokerage? What's the Difference?


Discussion in Brokers

Updated
      Top Posters
    1. looks_one ycomp with 5 posts (3 thanks)
    2. looks_two CannonTrading with 4 posts (4 thanks)
    3. looks_3 hen322 with 4 posts (3 thanks)
    4. looks_4 Calming with 2 posts (3 thanks)
      Best Posters
    1. looks_one iantg with 3 thanks per post
    2. looks_two CannonTrading with 1 thanks per post
    3. looks_3 hen322 with 0.8 thanks per post
    4. looks_4 ycomp with 0.6 thanks per post
    1. trending_up 44,786 views
    2. thumb_up 37 thanks given
    3. group 24 followers
    1. forum 31 posts
    2. attach_file 2 attachments




 
Search this Thread

Phillips or Dorman for NinjaTrade Brokerage? What's the Difference?

  #21 (permalink)
Kalisto
Geneva, Switzerland
 
Posts: 64 since Dec 2015
Thanks Given: 74
Thanks Received: 25

For those who trade multiple currencies, heard the FX conversion fees are billed by Dorman $30 but free with Phillips. Is that correct ?

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Exit Strategy
NinjaTrader
Ninja Mobile Trader VPS (ninjamobiletrader.com)
Trading Reviews and Vendors
Online prop firm The Funded Trader (TFT) going under?
Traders Hideout
Better Renko Gaps
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
36 thanks
NexusFi site changelog and issues/problem reporting
22 thanks
The Program
20 thanks
GFIs1 1 DAX trade per day journal
19 thanks
  #22 (permalink)
 
CannonTrading's Avatar
 CannonTrading   is a Vendor
 
Posts: 216 since Mar 2013
Thanks Given: 77
Thanks Received: 183

Hello @Kalisto. Here at Cannon we clear through both clearing firms and I asked both treasury departments to elaborate on the FX Conversion fees. Phillip Capital does not have a seperate fee but the exchange rate is marked up. I'm not sure how much, all they provided to me is a link to their fees: https://www.phillipcapital.com/Fees

Dorman did get back to me and they said the fee is worked into the conversion as well. They weren't specific unfortunately all they told me was that the fee is worked into the conversion. I will send you updates when I find out what the specific fee is if the fee is fixed for Dorman. Thanks!


Kalisto View Post
For those who trade multiple currencies, heard the FX conversion fees are billed by Dorman $30 but free with Phillips. Is that correct ?


PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Follow me on Twitter Reply With Quote
Thanked by:
  #23 (permalink)
 
CannonTrading's Avatar
 CannonTrading   is a Vendor
 
Posts: 216 since Mar 2013
Thanks Given: 77
Thanks Received: 183



Kalisto View Post
For those who trade multiple currencies, heard the FX conversion fees are billed by Dorman $30 but free with Phillips. Is that correct ?

Hello @Kalisto. Dorman Treasury did get back to me and they said "Depending on which way the conversion is going either 40 dollars or 40 Euros."

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Follow me on Twitter Reply With Quote
Thanked by:
  #24 (permalink)
 
hen322's Avatar
 hen322 
San Francisco CA
 
Experience: Advanced
Platform: NinjaTrader, TOS, Jigsaw
Broker: Dorman Trading
Trading: ZN and Stocks
Posts: 147 since Apr 2019
Thanks Given: 182
Thanks Received: 276

I can't withdraw checks from Dorman during this pandemic, but I can pay $30 to wire. I'm done with NT's introducing brokers, they suck because you'll end up paying some fees for withdrawels. I'm looking into IB right now. Tradovate has ACH transfers but no beneficiary option for Payable on Death to avoid probate. I hope I'll be happiest with IB.


“Successful people ask better questions, and as a result, they get better answers.” – Tony Robbins
Visit my NexusFi Trade Journal Reply With Quote
  #25 (permalink)
 
Jigsaw Trading's Avatar
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
 
Posts: 2,988 since Nov 2010
Thanks Given: 831
Thanks Received: 10,393

Both are FCMs, Ninja is the IB in this case I think.

Always worth consideration:

https://www.cftc.gov/sites/default/files/2020-03/01- FCM Webpage Update - March 2020.pdf

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #26 (permalink)
 
hen322's Avatar
 hen322 
San Francisco CA
 
Experience: Advanced
Platform: NinjaTrader, TOS, Jigsaw
Broker: Dorman Trading
Trading: ZN and Stocks
Posts: 147 since Apr 2019
Thanks Given: 182
Thanks Received: 276


Jigsaw Trading View Post
Both are FCMs, Ninja is the IB in this case I think.

Always worth consideration:

https://www.cftc.gov/sites/default/files/2020-03/01- FCM Webpage Update - March 2020.pdf

Sorry, I meant IBKR. Thanks for the list though

“Successful people ask better questions, and as a result, they get better answers.” – Tony Robbins
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #27 (permalink)
LaissezFaire
Oslo + Norway
 
Posts: 224 since May 2016
Thanks Given: 224
Thanks Received: 104

Hi all,

Google took me to this thread!

I'm a happy customer using NT8 + Dorman Trading, but, I'm not quite satisfied that the only thing that's available on Dorman's online portal is my daily statement in a PDF format.

Meaning - there's no electronic portal where I can check my account value, current open positions, basic performance statistics, etc.

Is this possible with Phillip Capital?

Someone also said that Phillips have easier to read statements? Would love to see an example of one if someone doesn't mind to post one (just erase your name/account details).

Thanks in advance.

Reply With Quote
Thanked by:
  #28 (permalink)
patricia
Berlin Germany
 
Posts: 113 since Jul 2020
Thanks Given: 9
Thanks Received: 100


LaissezFaire View Post
Hi all,

Google took me to this thread!

I'm a happy customer using NT8 + Dorman Trading, but, I'm not quite satisfied that the only thing that's available on Dorman's online portal is my daily statement in a PDF format.

Meaning - there's no electronic portal where I can check my account value, current open positions, basic performance statistics, etc.

Is this possible with Phillip Capital?

Someone also said that Phillips have easier to read statements? Would love to see an example of one if someone doesn't mind to post one (just erase your name/account details).

Thanks in advance.

no need for cross-posting, you already opened a thread with your question HERE. I already replied to your question with some details. Hope it helps. Cheers!

Also, I would like to add that Ninjatrader Brokerage does not recommend Dorman to European clients but Phillip Capital. This has probably changed and is valid since the beginning of 2020 as I have learned. Also me as a German citizen was recommended by Ninjatrader Brokerage quite clearly PhillipCapital, whose advice I also followed.

Reply With Quote
  #29 (permalink)
Etisan
London UK
 
Posts: 34 since Mar 2017
Thanks Given: 0
Thanks Received: 23


LaissezFaire View Post
Hi all,

Google took me to this thread!

I'm a happy customer using NT8 + Dorman Trading, but, I'm not quite satisfied that the only thing that's available on Dorman's online portal is my daily statement in a PDF format.

Meaning - there's no electronic portal where I can check my account value, current open positions, basic performance statistics, etc.

Is this possible with Phillip Capital?

Someone also said that Phillips have easier to read statements? Would love to see an example of one if someone doesn't mind to post one (just erase your name/account details).

Thanks in advance.

Some Phillips statements are shown on this page :https://www.bearbulltrading.com/results/

Reply With Quote
Thanked by:
  #30 (permalink)
 tuffcoucou 
Deland
 
Experience: Intermediate
Platform: Ninja trader
Trading: CL
Posts: 2 since Feb 2017
Thanks Given: 1
Thanks Received: 3


I am currently with Philipp and happy with it.

Reply With Quote




Last Updated on January 6, 2021


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts