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Optimus Futures trading broker review
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Optimus Futures trading broker review

  #531 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 1,944 since Sep 2010
Thanks: 1,849 given, 2,614 received
Forum Reputation: Legendary


cclarke View Post
I wanted to report on my initial experience with Optimus Futures. After trading with a different firm for a number of years, I recently opened an account with Optimus. Matt was very helpful in providing suggestions for the best FCM, routing, and trading platform after reviewing my needs and trading style. The entire team was very responsive and helpful. They were able to help me from initial conversation on Monday evening to fully funded and tradable account by Thursday evening - a turnaround time of less than 3 days from initial contact! In particular, Cassie was very helpful with the account opening process. So far, my experience with Optimus Futures has been excellent. They have been knowledgeable, professional and friendly. They have helped me set up each of the trading components to my preferences and I've been able to get them on the phone whenever needed.

You are a great guy to deal with. Thank you for choosing us! Much appreciated.

Matt Z
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.
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  #532 (permalink)
Elite Member
rutherford NJ
 
Futures Experience: Intermediate
Platform: Sierra Qtrader
Broker/Data: Amp and Optimus and CQG
Favorite Futures: Mainly NG Some GC, ZS,CL
 
Posts: 378 since May 2013
Thanks: 297 given, 137 received

Second time vote for Matt and Optimus

I have to say Matt has personally been nothing but great helping me out with getting setup consolidating my IRA working out technical glitches with CQG

I wish I had found Optimus before then i would not have all these accounts and would have been more focussed on trading and not searching for new ways/tools/brokers/feeds/commissions etc

Wasted a lot of time doing that. If you have a broker who cares, then you can focus on trading and strategies

thanks to Optimus and Matt again

J

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The following 4 users say Thank You to jokertrader for this post:
 
  #533 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 1,944 since Sep 2010
Thanks: 1,849 given, 2,614 received
Forum Reputation: Legendary



jokertrader View Post
I have to say Matt has personally been nothing but great helping me out with getting setup consolidating my IRA working out technical glitches with CQG

I wish I had found Optimus before then i would not have all these accounts and would have been more focussed on trading and not searching for new ways/tools/brokers/feeds/commissions etc

Wasted a lot of time doing that. If you have a broker who cares, then you can focus on trading and strategies

thanks to Optimus and Matt again

J

Thank you very much for your kind words!
But, also have to say BIG thanks to Mike G and Becky G from CQG who tolerate me on a daily basis :-) Great people who give outstanding support!

Matt Z
Optimus Futures

There is a substantial 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.

Last edited by mattz; May 17th, 2016 at 06:43 PM.
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  #534 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,322 since Jul 2012
Thanks: 1,092 given, 4,241 received
Forum Reputation: Legendary

Offsetting Futures Positions

Hi Matt -

I curious on what the Exchange rules are for offsetting positions in multiple accounts are. Here is an example:

Both Accounts held at same broker...

Account A: I am long 10 ESU16, and hold overnight
Account B: I am short 10 ESU16, and hold overnight

Is this allowed?

One major brokerage appears to have recently changed their interpretation/enforcement of this rule, and now they state:

"Futures Exchange Rules prohibit the holding of offsetting open futures positions in accounts under the same ownership. A review of your accounts held on the books of BROKER XXXXX. indicates that recently, at the end of day, two or more of your accounts, held both long and short positions in the same futures and/or futures options contract.

Please liquidate any positions you hold which meet this criteria in order to eliminate the offset. In the future please review your end of day positions to ensure that your accounts do not hold offsetting futures positions in the same futures contract open at the end of the trading day. "


I'm curious as to your take on this...

THANKS

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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The following 4 users say Thank You to kevinkdog for this post:
 
  #535 (permalink)
Membership Temporarily Revoked
Boston, MA
 
Futures Experience: Intermediate
Platform: NT7
Favorite Futures: CL, RB, LE
 
Posts: 264 since Apr 2014
Thanks: 102 given, 174 received


kevinkdog View Post
Hi Matt -

I curious on what the Exchange rules are for offsetting positions in multiple accounts are. Here is an example:

Both Accounts held at same broker...

Account A: I am long 10 ESU16, and hold overnight
Account B: I am short 10 ESU16, and hold overnight

Is this allowed?

One major brokerage appears to have recently changed their interpretation/enforcement of this rule, and now they state:

"Futures Exchange Rules prohibit the holding of offsetting open futures positions in accounts under the same ownership. A review of your accounts held on the books of BROKER XXXXX. indicates that recently, at the end of day, two or more of your accounts, held both long and short positions in the same futures and/or futures options contract.

Please liquidate any positions you hold which meet this criteria in order to eliminate the offset. In the future please review your end of day positions to ensure that your accounts do not hold offsetting futures positions in the same futures contract open at the end of the trading day. "


I'm curious as to your take on this...

THANKS

I look forward to the response, as this is an excellent question!

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The following 2 users say Thank You to HoopyTrading for this post:
 
  #536 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 1,944 since Sep 2010
Thanks: 1,849 given, 2,614 received
Forum Reputation: Legendary


kevinkdog View Post
Hi Matt -

I curious on what the Exchange rules are for offsetting positions in multiple accounts are. Here is an example:

Both Accounts held at same broker...

Account A: I am long 10 ESU16, and hold overnight
Account B: I am short 10 ESU16, and hold overnight

Is this allowed?

One major brokerage appears to have recently changed their interpretation/enforcement of this rule, and now they state:

"Futures Exchange Rules prohibit the holding of offsetting open futures positions in accounts under the same ownership. A review of your accounts held on the books of BROKER XXXXX. indicates that recently, at the end of day, two or more of your accounts, held both long and short positions in the same futures and/or futures options contract.

Please liquidate any positions you hold which meet this criteria in order to eliminate the offset. In the future please review your end of day positions to ensure that your accounts do not hold offsetting futures positions in the same futures contract open at the end of the trading day. "


I'm curious as to your take on this...

THANKS

Using my intuition, it does not make sense because you may use different strategies in different accounts and/or different time frames for your executions. Also, what if you were long 2 ES in one accounts and 5 short in another on the same month, would you need now to make your positions net short 3? Need to think of all implications.

However, if the compliance of your brokerage went to the extent of writing this is the exchange law then I need to check cross our FCMs compliance and see what is the exact rule. I will do so Monday AM.
Thanks,

Matt Z
Optimus Futures
There is a substantial 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.
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The following 3 users say Thank You to mattz for this post:
 
  #537 (permalink)
Membership Temporarily Revoked
Boston, MA
 
Futures Experience: Intermediate
Platform: NT7
Favorite Futures: CL, RB, LE
 
Posts: 264 since Apr 2014
Thanks: 102 given, 174 received


mattz View Post
Using my intuition, it does not make sense because you may use different strategies in different accounts and/or different time frames for your executions. Also, what if you were long 2 ES in one accounts and 5 short in another on the same month, would you need now to make your positions net short 3? Need to think of all implications.

However, if the compliance of your brokerage went to the extent of writing this is the exchange law then I need to check cross our FCMs compliance and see what is the exact rule. I will do so Monday AM.
Thanks,

Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
.

Any update on your research mattz?

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  #538 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 1,944 since Sep 2010
Thanks: 1,849 given, 2,614 received
Forum Reputation: Legendary


HoopyTrading View Post
Any update on your research mattz?

I am trying....and spoke to a few compliance people who are checking into it.
Been a very busy morning for me because over the weekend we get account requests that we are trying to get back to soonest.

Thank you for your patience.

Matt Z
Optimus Futures

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

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
 
  #539 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 1,944 since Sep 2010
Thanks: 1,849 given, 2,614 received
Forum Reputation: Legendary

@kevindog (or anyone else) I have spoken to a number of people about this, however since this is more of an FCM/Exchange issue , I do not feel comfortable putting out my answers in the public domain because your FCM and compliance may have a different perspective. If you call me, I can share my findings.


Thank you
Matt Z
Optimus Futures

There is a substantial 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
 
  #540 (permalink)
Trading Apprentice
Utrecht, Netherlands
 
Futures Experience: Intermediate
Platform: TOS, eSignal
Favorite Futures: Crude Futures
 
Posts: 20 since Jun 2016
Thanks: 1 given, 7 received



kevinkdog View Post
Hi Matt -

I curious on what the Exchange rules are for offsetting positions in multiple accounts are. Here is an example:

Both Accounts held at same broker...

Account A: I am long 10 ESU16, and hold overnight
Account B: I am short 10 ESU16, and hold overnight

Is this allowed?

One major brokerage appears to have recently changed their interpretation/enforcement of this rule, and now they state:

"Futures Exchange Rules prohibit the holding of offsetting open futures positions in accounts under the same ownership. A review of your accounts held on the books of BROKER XXXXX. indicates that recently, at the end of day, two or more of your accounts, held both long and short positions in the same futures and/or futures options contract.

Please liquidate any positions you hold which meet this criteria in order to eliminate the offset. In the future please review your end of day positions to ensure that your accounts do not hold offsetting futures positions in the same futures contract open at the end of the trading day. "


I'm curious as to your take on this...

THANKS

Long ES, Short SPY - problem solved....

Until you want to unwind out of hours...

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