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Vision Financial Markets brokerage (www.visionfinancialmarkets.com)


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Vision Financial Markets brokerage (www.visionfinancialmarkets.com)

  #41 (permalink)
ondafringe
Albuquerque, NM, USA
 
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artemiso View Post
I've confirmed that you can set up a securities account together just for the express purpose of sweeping excess funds (above margin requirements) between futures and securities. However, it's not automated as in Interactive Brokers, you have to make manual requests to transfer the funds, which will be carried out within the working day... It isn't difficult to set up a recurring email, I guess. Vision offers the BATS and CBOE for those who trade equities or options/futures on equities.

I find this very interesting. It would be nice to hear from Matt to see if this same thing can be implemented through Optimus... or maybe you have the answer to that already since you have apparently decided to open an account directly with Vision?

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  #42 (permalink)
 
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 mattz   is a Vendor
 
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ondafringe View Post
I find this very interesting. It would be nice to hear from Matt to see if this same thing can be implemented through Optimus... or maybe you have the answer to that already since you have apparently decided to open an account directly with Vision?

At the moment Optimus is specializing in futures business only. Other asset classes would be a consideration if there is demand coming from our clientele. Any assert classes introduction needs to come with the best technology available, and our hands are full now with the futures market.

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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  #43 (permalink)
 
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 ThatManFromTexas 
Houston,Tx
 
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artemiso View Post
One easy workaround - Interactive Brokers does this automatically - is to sweep your funds held in a futures account into a securities account. Your funds in the securities account are thereby SIPC-insured. Now, I need to remind you that there are differences between the FDIC and SIPC and the claims filing process, but it is absolutely better than leaving your cash naked with a futures brokerage.

I've confirmed that you can set up a securities account together just for the express purpose of sweeping excess funds (above margin requirements) between futures and securities.

You may be able to set up the account, but there is has been a lot of of discussion whether SIPC will cover your cash or not. If push comes to shove I think you will have a hard time collecting for an account that never held securities.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #44 (permalink)
 flyg 
Toledo, OH
 
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I received a call from EssexFutures ( being a PFG customer); My number was given out by Vision to their IB Essexfutures. I was not sure if anybody has had any experience with Essex or has gotten similar calls?

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  #45 (permalink)
 
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 Scalpingtrader 
Hanover, Germany
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NFA bars Connecticut [AUTOLINK]futures commission merchant[/AUTOLINK] Vision Financial Markets LLC, Virginia [AUTOLINK]commodity trading advisor[/AUTOLINK] Ace Investment Strategists LLC and its principal, Yu-Dee Chang from membership

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  #46 (permalink)
CafeGrande
St Paul, MN, USA
 
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If someone is interested, FUTURES magazine, and Dan Collins before he returned to FUTURES, have been reporting on this story for a while.

Search

If you follow the link above, there are several stories on page 1 and page 2 of the search results.

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  #47 (permalink)
 lancelottrader 
west palm beach florida usa
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This link obviously had me quite concerned since my broker is Optimus, who clears through Vision. I just spoke to Matt, who gave me a very thorough explanation of what is going on.
I might suggest that anyone who has concerns give him a call..and at least hear what he has to say on the matter.

Failure is not an option
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  #48 (permalink)
 supermht 
Naperville IL
 
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lancelottrader View Post
This link obviously had me quite concerned since my broker is Optimus, who clears through Vision. I just spoke to Matt, who gave me a very thorough explanation of what is going on.
I might suggest that anyone who has concerns give him a call..and at least hear what he has to say on the matter.

that means we should close account with Optimus?

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  #49 (permalink)
 
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 Scalpingtrader 
Hanover, Germany
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supermht View Post
that means we should close account with Optimus?

No, that actually means that you should give him a call.

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  #50 (permalink)
 timefreedom 
Indianapolis, IN USA
 
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lancelottrader View Post
This link obviously had me quite concerned since my broker is Optimus, who clears through Vision. I just spoke to Matt, who gave me a very thorough explanation of what is going on.
I might suggest that anyone who has concerns give him a call..and at least hear what he has to say on the matter.

It might also be prudent to get an explanation from someone less biased on this particular matter. Nothing against @mattz as I've seen countless helpful posts from him on this forum, but I would think if Vision is the only firm he clears through then the possibility for bias would be present. It is my understanding that the 2 main principals from Vision are leaving to form a new FCM called High Ridge.

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