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Optimus Futures trading broker review

  #641 (permalink)
Sheen
London UK
 
Posts: 57 since Jul 2013
Thanks Given: 2
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It would be good if you could modify Optimus Futures' website so that it accurately reflects the truth about the commission rates available with ADMIS where it is impossible to get the advertised $0.50 - it is rather well above $2.00. Otherwise it is just false advertising - not very fair...

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  #642 (permalink)
 bxman 
Kent / UK
 
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Suspect you are mixing up commission and all in trading cost which will include clearing/routing/exchange/commission to make up the bigger number.

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  #643 (permalink)
Sheen
London UK
 
Posts: 57 since Jul 2013
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Thanks Received: 20



bxman View Post
Suspect you are mixing up commission and all in trading cost which will include clearing/routing/exchange/commission to make up the bigger number.

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When you speak to them it is quoted as, say, $2.50 all-in, which for a particular product implies the bare commission rate of $1.28 to be exact. Getting $0.50 is not possible

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  #644 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
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Sheen View Post
It would be good if you could modify Optimus Futures' website so that it accurately reflects the truth about the commission rates available with ADMIS where it is impossible to get the advertised $0.50 - it is rather well above $2.00. Otherwise it is just false advertising - not very fair...

Yes, it is possible. We use a sliding scale where we can go down to 10 cents based on our level of trading.
We explicitly state on the site that clearing, NFA, and routing may apply to all.

A Trader may choose different routing (Rithmic, CTS, CQG, TT), and they all different pricing whether you use their API, their platforms, or with third parties.
Further, every FCM may have different clearing costs.
We give all the customers full cost upfront, and often as they increase their volumes, we can accommodate them.
We helped customers become CME members as well to assist further in the reductions of costs, so we as brokers try our best to have a balanced approach to traders and help in any way we can.

We do our best to provide reasonable commissions in lieu of one's trading, and along that provide the support that traders need. We are there for customers with lengthy phone calls making sure that they are set upright, choose the right technology, and if you need us, we are here for you. The overwhelming majority of our customers come from other brokers, and many times we match or beat their commissions. However, if we can not, we are upfront about that.

Thank you,
Matt Z
Optimus Futures

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
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  #645 (permalink)
Sheen
London UK
 
Posts: 57 since Jul 2013
Thanks Given: 2
Thanks Received: 20

OK, Matt.
I want to come to you with a minimum deposit for ADMIS, doing 50 lots/month. Will I get $0.50?

I just cannot believe that while ADMIS wanted to charge me $4.00 per side you can do $0.50 with the same FCM. Take no offence - I am just relating to the facts.

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  #646 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
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Sheen View Post
When you speak to them it is quoted as, say, $2.50 all-in, which for a particular product implies the bare commission rate of $1.28 to be exact. Getting $0.50 is not possible

Your for ADM included commissions, exchange, and routing. Your commissions were what you quoted above.
However, you requested to be under that ADM but not as a self-directed account. I respect the privacy of our conversation, but since you chose a public forum, I also have to defend my stance by saying that you were not a self-direct account rather someone who will require back-office support and potential billing of your future clients. Your circumstances are different.

ADM is the largest nonbanking FCM, one of the safest intuitions in my opinion for larger traders, and we have to make sure that the commissions reflect the type of services you require (and volume) as our back office and FCM's back office need to get involved as you scale up.

You neglect to mention that I took the time to guide you through the process of how to build your operations and take advantage of your skills. We have done it with other customers before who have a decade close relationship with Optimus Futures.

Lastly, I gave you options of other clearers that may be cheaper, and we would be more than welcome to accommodate you there.

Thank you,
Matt Z
Optimus Futures

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

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
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  #647 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
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Sheen View Post
OK, Matt.
I want to come to you with a minimum deposit for ADMIS, doing 50 lots/month. Will I get $0.50?

I just cannot believe that while ADMIS wanted to charge me $4.00 per side you can do $0.50 with the same FCM. Take no offence - I am just relating to the facts.

I am not offended. As I mentioned, you do not have typical self-directed circumstances.

The FCMs are allowed to charge you what they want to charge you based on your needs and volume. We have a different arrangement with them. This is all I can say and mention that IBs, at times, can reduce cost.

I suggest we go back to the phone or email, and we try to accommodate you elsewhere because your current circumstances are not the right place for you at your size and scale of operation at the pricing you propose.

Thank you,
Matt Z
Optimus Futures

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

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
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  #648 (permalink)
 
ninjus's Avatar
 ninjus 
Chiang Mai Thailand
 
Experience: Beginner
Platform: Seirra Chart
Broker: Stage5 + Denali
Trading: MNQ
Frequency: Many times daily
Duration: Minutes
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mattz View Post
Yes, it is possible. We use a sliding scale where we can go down to 10 cents based on our level of trading.
We explicitly state on the site that clearing, NFA, and routing may apply to all.

A Trader may choose different routing (Rithmic, CTS, CQG, TT), and they all different pricing whether you use their API, their platforms, or with third parties.
Further, every FCM may have different clearing costs.
We give all the customers full cost upfront, and often as they increase their volumes, we can accommodate them.
We helped customers become CME members as well to assist further in the reductions of costs, so we as brokers try our best to have a balanced approach to traders and help in any way we can.

We do our best to provide reasonable commissions in lieu of one's trading, and along that provide the support that traders need. We are there for customers with lengthy phone calls making sure that they are set upright, choose the right technology, and if you need us, we are here for you. The overwhelming majority of our customers come from other brokers, and many times we match or beat their commissions. However, if we can not, we are upfront about that.

Thank you,
Matt Z
Optimus Futures

Hey Matt

Im thinking about moving over to you guys.
I'll send you a message in the week. Got a few questions first.

Thanks


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  #649 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
Thanks Given: 2,440
Thanks Received: 3,789


ninjus View Post
Hey Matt

Im thinking about moving over to you guys.
I'll send you a message in the week. Got a few questions first.

Thanks

Would be glad to help. Just PM me, and I will provide my email.

Matt Z
Optimus Futures

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

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
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  #650 (permalink)
Sheen
London UK
 
Posts: 57 since Jul 2013
Thanks Given: 2
Thanks Received: 20



mattz View Post
Your for ADM included commissions, exchange, and routing. Your commissions were what you quoted above.
However, you requested to be under that ADM but not as a self-directed account. I respect the privacy of our conversation, but since you chose a public forum, I also have to defend my stance by saying that you were not a self-direct account rather someone who will require back-office support and potential billing of your future clients. Your circumstances are different.

ADM is the largest nonbanking FCM, one of the safest intuitions in my opinion for larger traders, and we have to make sure that the commissions reflect the type of services you require (and volume) as our back office and FCM's back office need to get involved as you scale up.

You neglect to mention that I took the time to guide you through the process of how to build your operations and take advantage of your skills. We have done it with other customers before who have a decade close relationship with Optimus Futures.

Lastly, I gave you options of other clearers that may be cheaper, and we would be more than welcome to accommodate you there.

Thank you,
Matt Z
Optimus Futures

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

Sorry. I missed that reply.
I do not need anything like back office support, billing of clients etc. I JUST WANT TO BE TREATED AS A STANDARD SELF_DIRECTED CLIENT OF YOURS WITH A $0.50 RATE. Can I then go ahead and submit the application, please? I just want to be treated as anyone else. That is all.

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