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Anybody here trade with Rithmic?


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Anybody here trade with Rithmic?

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  #41 (permalink)
 bobwest 
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Sarasota FL
 
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siasia View Post
I think that is the whole point that they use the rithmics service. It makes people have to purchase more accounts since they have a trailing drawdown and they do not care. That's why in their agreements they tell you that they will not accommodate anything that happens as a failure of the service or platform. They instead tell you to quickly jump on their app or website to flatten all positions. Seems all prop firms are a complete gimmick.

A huge amount of the live trading in futures goes through Rithmic, which is used by a ton of brokers, and does so to the satisfaction of the brokers' customers. Your experience with Rithmic pertains to a very small part of their business.

They appear to have a weakness in their system for handling these kinds of centralized sim trades, and they need to correct it. But the prop firms do not use Rithmic just so there will be many cases of technical outages, in order to force their customers to open new accounts and pay more.

You have had bad experiences with Rithmic in this particular situation, and you have reason to be angry with them. But this is not a plot to cost you money by deliberately having the service go down. It's a technical issue that needs to be corrected.

Rithmic and the firms do have responsibility, and need to address it, but they aren't doing it just to get you. Rithmic has acknowledged the issue and, as a business matter, it's important for them to correct it. Not correcting it would cost them money, not the reverse.

If it's not corrected, or if you're not satisfied, stop using the prop firms. Simple enough.

Bob.

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-- Cervantes, Don Quixote
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  #42 (permalink)
siasia
Frisco
 
 
Posts: 9 since Sep 2018
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bobwest View Post
A huge amount of the live trading in futures goes through Rithmic, which is used by a ton of brokers, and does so to the satisfaction of the brokers' customers. Your experience with Rithmic pertains to a very small part of their business.

They appear to have a weakness in their system for handling these kinds of centralized sim trades, and they need to correct it. But the prop firms do not use Rithmic just so there will be many cases of technical outages, in order to force their customers to open new accounts and pay more.

You have had bad experiences with Rithmic in this particular situation, and you have reason to be angry with them. But this is not a plot to cost you money by deliberately having the service go down. It's a technical issue that needs to be corrected.

Rithmic and the firms do have responsibility, and need to address it, but they aren't doing it just to get you. Rithmic has acknowledged the issue and, as a business matter, it's important for them to correct it. Not correcting it would cost them money, not the reverse.

If it's not corrected, or if you're not satisfied, stop using the prop firms. Simple enough.

Bob.

I'm not affected by it since my trades are very short lived. And it's not a plot to cost us money, but when they choose to shrug their shoulders when something like this keeps happening and then blatantly saying we will not reset peoples accounts.....don't know, makes you wonder why, because that right there would make them lose customers. Do you think they care? No, because so many people are coming in that don't know to look out for this. This isn't a conspiracy. Just saying it seems like an obvious business decision.

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  #43 (permalink)
 glennts 
Corpus Christi, TX / Westcliffe, CO
 
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Platform: NinjaTrader
Broker: DDT / Rithmic / Kinetick / IQ
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siasia View Post
.... That's why in their agreements they tell you that they will not accommodate anything that happens as a failure of the service or platform. They instead tell you to quickly jump on their app or website to flatten all positions. Seems all prop firms are a complete gimmick.

Did a map search a year or so ago for Earn2Trade to get a street view of their headquarters. It's a Post Office and their Suite number is a box.

Just did the same for Apex and although their address is a nice office building in Austin, TX, suite 240 is a mail forwarding service.

Not necessarily a bad thing. But then there is this about Darrell Martin, one of Apex Trader Funding founders.

https://topedgefx.com/apex-investing-review-the-darrell-martin-scam/

>>Does Darrell Martin have a live trading account? We know he doesn’t. That is why he cannot produce a redacted trading statement even for the past 1 month.<<

Don't know the guy. Don't know anything about Apex. The views expressed in the above link are not mine and certainly are not those of futures.io.

So, never traded before? Pass our one step evaluation trial and we might give you $300,000 for you to realize your dreams of becoming a full-time trader. And if you cannot pass the evaluation after 6 or 7 attempts take a look a the Apex training program where you can learn how to become a better trader. Only $979.00

" Too good to be true" is a phrase that has been used unchanged since its first known expression in 16th Century England.

Live and learn.

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