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Optimus or Velocity
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Optimus or Velocity

  #41 (permalink)
Elite Member
Prague, Czech Republic
 
Futures Experience: Advanced
Platform: AgenaTrader, Track'nTrade
Broker/Data: DeCarley/OEC, IBKR, IQFeed
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mattz View Post
I appreciate the kind words you about our customer service, and I say our because of the good staff that I am lucky to have at Optimus. I really should do a “team” picture to show the guys behind the scene.

If I may, I want to add a few things to your discussions that in my honest opinion you have missed. First, your example of other FCMs that offer Rithmic needs to add the following fact: They have it with R/Trader, not with any other platform, for example NinjaTrader. Essentially, you can use Ninja, SC as a charting and execute on Rtrader…something you can’t do with others.

Second, we have not done a good Rithmic implementation “in general”, but an excellent one. We are so far the only ones that provide automatic username and password for Rithmic based platforms for people to test amongst our VFM competitors. You get it within seconds from our site.

Third, our margins you did get correctly. BUT, 20% is only the starting point. I will lower it is necessary and accommodate traders. Please consider that even with 20% a trader can get 10 ES lots per 10K. I am really trying to help beginner traders and limit the lots they do because of the risk. If I was commissions driven only I would lower it to 300 to have more lots out of traders, but I really try and earn long term customers. Again, I will accommodate upon request.

Lastly, the commissions: I really think you have to compare feeds when that is discussed. I am not saying I am the better or cheaper, BUT I saw from the other site that there is a 1.66RT and 30 cents a side for RTrader. That is 1.66x2 = $3.32 Plus 60 = 3.92 for Emini PLEASE correct me if I am wrong.
In our case most guys who use Ninja, pay 4.0 RT all in, BUT if you trade it via RTrader and use Ninja for analysis we give you 3.75. This goes for your platforms that you use as well. So we are not the most expansive as your comparison shows. This goes for other commodities as well.

There could be cheaper solutions than Rithmic, and they could be significant for some traders. But, all I get is really good feedback from my traders about it and that is enough for me to stick with it.

Rani, I hope I have added some value to your decision making. It seems that you are a thorough and calculated guy, and I am sure that you will make the right decision in the end. Please use our demo, and/or others for comparison. The other brokers you have mentioned are good brokers so I do feel privileged to be compared to good ones out there.


Mattz,

as I stated, that is just a brief summary. You margins are OK, at least for me. I do not need $300 margin on ES. I might also agree with you, that your Rithmic implementation may be an excellent one.
However I do not agree, that you are the only one with platforms like SC on Rithmic. There are others.
When I've compared commis, I took those based on "native" feed of the broker. I can also compare by taking just the Rithmic feed into consideration, where possible (not with Velocity). I am afraid you will still be more expensive with $4 for ES. For example, DDT would have advertised commis $3.92 with SC on Rithmic.
To compare apples with apples it comes to the feed preference at the end. Here were many discussions comparing different feeds and it is not my intention to start a new one. Rithmic is more expensive than say TT and the question for a trader would be, if the higher costs will bring a higher added value. In case Rithmic is a better feed than say TT, that may justify higher costs. Of course, only if. And as mentioned, exchanges in portolio are also important (like Rithmic not offering Eurex and someone else not offering something else). Again, it depends on what markets the trader needs.
There are many things to consider when selecting a broker. I am not the one switching every second month, therefore I am a little bit thorough. Commis and margins are just one piece of the cake.

Regards

rani

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  #42 (permalink)
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@rani good job doing all the research. Be sure and come back and let us know who you went with and post a review.

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  #43 (permalink)
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Big Mike View Post
@rani good job doing all the research. Be sure and come back and let us know who you went with and post a review.

Mike

@mike: thanks for nice words. this is just so great forum it makes sense to contribute something. i will certainly be back with my decision and possibly a brief review.

rani

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  #44 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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Posts: 2,059 since Sep 2010
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rani View Post
Mattz,

as I stated, that is just a brief summary. You margins are OK, at least for me. I do not need $300 margin on ES. I might also agree with you, that your Rithmic implementation may be an excellent one.
However I do not agree, that you are the only one with platforms like SC on Rithmic. There are others.
When I've compared commis, I took those based on "native" feed of the broker. I can also compare by taking just the Rithmic feed into consideration, where possible (not with Velocity). I am afraid you will still be more expensive with $4 for ES. For example, DDT would have advertised commis $3.92 with SC on Rithmic.
To compare apples with apples it comes to the feed preference at the end. Here were many discussions comparing different feeds and it is not my intention to start a new one. Rithmic is more expensive than say TT and the question for a trader would be, if the higher costs will bring a higher added value. In case Rithmic is a better feed than say TT, that may justify higher costs. Of course, only if. And as mentioned, exchanges in portolio are also important (like Rithmic not offering Eurex and someone else not offering something else). Again, it depends on what markets the trader needs.
There are many things to consider when selecting a broker. I am not the one switching every second month, therefore I am a little bit thorough. Commis and margins are just one piece of the cake.

Regards

rani

I agree. While I cant accommodate Eurex via Rithmic (hopefully soon) at this point, I will not lose biz because of 8 cents. If you do decide that Rithmic and SC are your thing, I would gladly accomodate you.
I do like your approach of choosing a broker for the long haul, I really appreciate it because I am the same way when it comes to my needs whether choosing vendors for Optimus or in my personal ventures. Good Luck in your Quest!

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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  #45 (permalink)
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mattz View Post
If I may, I want to add a few things to your discussions that in my honest opinion you have missed. First, your example of other FCMs that offer Rithmic needs to add the following fact: They have it with R/Trader, not with any other platform, for example NinjaTrader. Essentially, you can use Ninja, SC as a charting and execute on Rtrader…something you can’t do with others.

for a while last year, I had Mirus with Zenfire and I got NT7 and RTrader... so to get RTrader, all one has to do is ask really... also, VFM doesnt offer Rithmic with SC per say... SC supports Rithmic, just like MarketDelta Supports Rithmic, just like Atrader supports Rithmic, and Multicharts Supports Rithmic, etc... my point is that the charting/execution platform support Rithmic(execution feed) which what VFM provides... any platform that supports Rithmic can use it..

just like any platform, including one coding one's own, that support TT FIX Adapter can use the adapter to trade, etc.

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  #46 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
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Broker/Data: Optimus Futures, LLC
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sysot1t View Post
for a while last year, I had Mirus with Zenfire and I got NT7 and RTrader... so to get RTrader, all one has to do is ask really... also, VFM doesnt offer Rithmic with SC per say... SC supports Rithmic, just like MarketDelta Supports Rithmic, just like Atrader supports Rithmic, and Multicharts Supports Rithmic, etc... my point is that the charting/execution platform support Rithmic(execution feed) which what VFM provides... any platform that supports Rithmic can use it..

just like any platform, including one coding one's own, that support TT FIX Adapter can use the adapter to trade, etc.

We do support it and help customer with it.
We learn every platform we implement and know technical support of that platform on a first name basis.
I can list other platforms that you mentioned above, but I dont because we dont know them yet.
If we list it, we support it.

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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  #47 (permalink)
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Platform: AgenaTrader, Track'nTrade
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I do not get one thing - if you go to the Rithmic website and click to view the exchange list, there is Eurex stated as where Rithmic has DMA. So that is Eurex supported on Rithmic or not?

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  #48 (permalink)
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rani View Post
I do not get one thing - if you go to the Rithmic website and click to view the exchange list, there is Eurex stated as where Rithmic has DMA. So that is Eurex supported on Rithmic or not?

the simplest answer is no... Rithmic does supports it, which is why ZenFire has it.. however, for some weird reason VFM does not accept orders from the retail side via it... you can get the quotes from Rithmic, but you wont be able to enter the order and even if you do it will go nowhere... they can place orders on their desk though..

but I would say, let's have @mattz answer, since I have never being able to get a straight answer on that question from anyone... and hopefully there will be a through explanation.. not just a simple "we dont support it at present time" type of answer.

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  #49 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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Posts: 2,059 since Sep 2010
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sysot1t View Post
.. not just a simple "we dont support it at present time" type of answer.

I dont have access to Eurex. When I say "not at the moment" is because I am trying to convince Rithmic to bring it.
Trust me guys, this hurts me from a business perspective. As for their site: They should comment themselves.

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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  #50 (permalink)
Elite Member
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Futures Experience: Advanced
Platform: AgenaTrader, Track'nTrade
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Favorite Futures: futures, options
 
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Thanks: 66 given, 83 received



mattz View Post
I dont have access to Eurex. When I say "not at the moment" is because I am trying to convince Rithmic to bring it.
Trust me guys, this hurts me from a business perspective. As for their site: They should comment themselves.

question if i may: variance futures is ib for vfm i believe and they do offer eurex. are they on rithmic? what is the difference?

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