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

  #21 (permalink)
Geneva, Switzerland
 
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For those who trade multiple currencies, heard the FX conversion fees are billed by Dorman $30 but free with Phillips. Is that correct ?

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  #22 (permalink)
Los Angeles, CA /USA
 
Trading Experience: Master
Platform: Sierra, CQG, Gain, Transa
Favorite Futures: Crude Oil
 
CannonTrading's Avatar
 
Posts: 159 since Mar 2013
Thanks: 41 given, 113 received

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.
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  #23 (permalink)
Los Angeles, CA /USA
 
Trading Experience: Master
Platform: Sierra, CQG, Gain, Transa
Favorite Futures: Crude Oil
 
CannonTrading's Avatar
 
Posts: 159 since Mar 2013
Thanks: 41 given, 113 received



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.
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