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Need Help: Urgent Broker Problem (Phillip Capital: NT Brokerage, Edge Clear)
First, thanks for sending me the PM. As I said, likely a misunderstanding. You will get refunded and your case is in the queue. However, you are in the complex basket since you elected to continue trading on inaccurate data.
Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
Can you help answer these questions from other members on NexusFi?
By saying that you will never fund another account, are you saying that you are going to stop trading? What "funding options" are you talking about?
I agree completely with you as regards to leaving large sums of money in trading accounts! One should have only enough funds to cover the margins for their positions and no more. To do other wise puts your money at risk for no reason at all.
Persistence! Nothing in the world can take the place of persistence.
Talent will not ... nothing is more common than unsuccessful men with talent.
Genius will not ... Unrewarded genius is almost a proverb.
Education will not ... The world is full of educated derelicts.
Persistence and determination alone are omnipotent! Calvin Coolidge
I just mean something like Top Step, LeeLoo, OneUp. In those you basically trade on SIM through a trial, and if you prove you can be profitable then they give you a funded account and you trade their money. You typically get 80% of what you make, but the great thing is its not your money, you put off the risk on them. If something like this happens, then youre only out whatever fee you had to pay to take the trial.
Much less risk in my opinion, while still being able to make money trading
I Already sent (again) print, and all the explanation that I had already sent to the last email received.
I understand that the system is overloaded with problems, and that I have to be patient. What makes me angry is that I already sent many emails before and after the problem was happening, which further aggravated the situation and kept getting answers that are not synchronized is like appearing to be chatting with a BOOT.
Anyway, I just started trading with Phillip Capital because first of all I really like so much the NinjaTrader platform and researching the nature of Phillip Capital did not find any problems.
Now let's expect something that is decent about Phillip capital!
I understand your feelings about Phillips Capital, but what problem do you have with NT?
Persistence! Nothing in the world can take the place of persistence.
Talent will not ... nothing is more common than unsuccessful men with talent.
Genius will not ... Unrewarded genius is almost a proverb.
Education will not ... The world is full of educated derelicts.
Persistence and determination alone are omnipotent! Calvin Coolidge
So I wasn't initially impacted by this until I was coding sunday around GLOBEX open, and was testing something out on a chart and all of sudden noticed I had an open position. I panicked and thought I had managed to screw up tieing the strategy I was testing out (looking at historical backtest on a chart) and thought it had opened a position once the market opened up. Immediately closed the position, which when it was fixed @ 8pm all of sudden showed me having a short position from the point I closed the erroneous position.
I ended up having to take a loss on this short position but I chalked it up to me making a mistake. Didn't even think to check my email....
Now up to this point, I wasnt aware of the outage, so I went on my merry way. Traded Monday and yesterday without issues. What I woke up to today, was getting a blast of "corrected" statements that are full of trades I didnt make, and my account balance is negative. I am at a loss here, as I have yet to hear anything back from NT. Is this really going to take weeks to resolve?
Apparently this is not the first time this has happened with PC. It's NT's fault for continuing to partner with a terrible broker. Especially, when there are hundreds of other brokerages offering the same service with better stability.
I hope it doesn't happen to you but when you get over $10k wiped from your account with random trades on your statement, you will have trust issues too.
So I have only received the initial automated response email from NT, I have tried to go through the statements and determine what I know isnt correct. But I am curious how is this truly going to be reconciled?
I continued to trade because my balance was correct, and then suddenly this AM I received a bunch of corrected statements for 2/5 through 2/9 and suddenly my account balance is negative? I mean If I can get a refund for closing the erroneous position from GLOBEX open on sunday and that turning into a new position I didnt intend to enter, then Ill gladly wait for that, but the rest of my account is just gone overnight. How am I supposed to reconcile this?
