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Is Tradestation trust worthy?


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Is Tradestation trust worthy?

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  #1 (permalink)
 murty 
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I see sticky post above "Why do you use Tradestation" which is for fans of Tradestation.

I am not a fan unfortunately. Since opening account, they screwed up everything they can. And, still I don't see an end to problems. After doing a lot of research, I discovered loop hole in the system which allows Tradestation and all brokers (all of which require mandatory FINRA arbitration) to spend customer's money on products of their choosing. Basically, Tradestation can deduct money from customer account without customer's knowledge anyway they want. And, customer has no recourse. He can only approach FINRA for arbitration, no other forum. And, it is an open secret for such a long time that FINRA fights hard for its members; so customer loses arbitration and ends up paying thousands of dollars in arbitration fees, which is not appealable. SIPC does not cover losses caused by Broker's illegal deductions. As you can see, FINRA and its member brokers have a cash cow system going on here, exempt from laws of this country.

Yes, all of this is legal. Not ethical, but legal. So, basically people who are using Tradestation are basically trusting them. So, really, accounts at brokers such as Tradestation are as secure as accounts at offshore brokers in Cyprus, Greece etc.

How trust worthy is Tradestation? What percentage of funds do you expect to lose to them in the form of fabricated fees, services etc?
Is Tradestation historical data reliable? Is it created by computer programs or actual trades that occurred in the past? For those, who are using automated strategies, how often Tradestation kills your strategy and locks you out of the platform? Do they stop hunt? How is their execution? Do they wait till price moves against you to execute your order?

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 Big Mike 
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murty View Post
I see sticky post above "Why do you use Tradestation" which is for fans of Tradestation.

I am not a fan unfortunately. Since opening account, they screwed up everything they can. And, still I don't see an end to problems. After doing a lot of research, I discovered loop hole in the system which allows Tradestation and all brokers (all of which require mandatory FINRA arbitration) to spend customer's money on products of their choosing. Basically, Tradestation can deduct money from customer account without customer's knowledge anyway they want. And, customer has no recourse. He can only approach FINRA for arbitration, no other forum. And, it is an open secret for such a long time that FINRA fights hard for its members; so customer loses arbitration and ends up paying thousands of dollars in arbitration fees, which is not appealable. SIPC does not cover losses caused by Broker's illegal deductions. As you can see, FINRA and its member brokers have a cash cow system going on here, exempt from laws of this country.

Yes, all of this is legal. Not ethical, but legal. So, basically people who are using Tradestation are basically trusting them. So, really, accounts at brokers such as Tradestation are as secure as accounts at offshore brokers in Cyprus, Greece etc.

How trust worthy is Tradestation? What percentage of funds do you expect to lose to them in the form of fabricated fees, services etc?
Is Tradestation historical data reliable? Is it created by computer programs or actual trades that occurred in the past? For those, who are using automated strategies, how often Tradestation kills your strategy and locks you out of the platform? Do they stop hunt? How is their execution? Do they wait till price moves against you to execute your order?

Some of what you describe is not possible (like stop hunting by your broker) if you trade a regulated market like futures or US equities. If you are trading Forex then I am not sure if Tradestation is a NDD or not.

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  #3 (permalink)
Ian Lavoie
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Big Mike View Post
If you are trading Forex then I am not sure if Tradestation is a NDD or not.

Mike


Per the following reviews, TradeStation Forex employs the NDD / straight through processing business model:

Digital Cash Palace

Best Broker Deals

Forex Scam Alerts


TradeStation took over IBFX in order to get directly into the forex brokerage business. The NFA's website shows that IBFX and Tradestation Forex are the same entity.

I can't comment on the specific issues that the poster raises, but the NFA website shows that the CFTC did fine this broker late in 2014.

Ian

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  #4 (permalink)
 paps 
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murty View Post
I see sticky post above "Why do you use Tradestation" which is for fans of Tradestation.

I am not a fan unfortunately. Since opening account, they screwed up everything they can. And, still I don't see an end to problems. After doing a lot of research, I discovered loop hole in the system which allows Tradestation and all brokers (all of which require mandatory FINRA arbitration) to spend customer's money on products of their choosing. Basically, Tradestation can deduct money from customer account without customer's knowledge anyway they want. And, customer has no recourse. He can only approach FINRA for arbitration, no other forum. And, it is an open secret for such a long time that FINRA fights hard for its members; so customer loses arbitration and ends up paying thousands of dollars in arbitration fees, which is not appealable. SIPC does not cover losses caused by Broker's illegal deductions. As you can see, FINRA and its member brokers have a cash cow system going on here, exempt from laws of this country.

Yes, all of this is legal. Not ethical, but legal. So, basically people who are using Tradestation are basically trusting them. So, really, accounts at brokers such as Tradestation are as secure as accounts at offshore brokers in Cyprus, Greece etc.

How trust worthy is Tradestation? What percentage of funds do you expect to lose to them in the form of fabricated fees, services etc?
Is Tradestation historical data reliable? Is it created by computer programs or actual trades that occurred in the past? For those, who are using automated strategies, how often Tradestation kills your strategy and locks you out of the platform? Do they stop hunt? How is their execution? Do they wait till price moves against you to execute your order?

well i hope so they are as good as others out there. lol i have a lot at stake. I have seen 3 odd very good traders use it without any complaints. i too do not have any.

you have posed many questions. I do not have answer to all of them. trying to answer a few if it helps.

Is Tradestation historical data reliable << never found any issues.

Do they stop hunt << not sure what you mean. Tradestation or the market?

Do they wait till price moves against you to execute your order? << its DA so a click and you have no recourse to change the order. Well I use only market in...market out...so dont care about limits unless its a hard stop.

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  #5 (permalink)
Calamari88
Henderson, NV, USA
 
 
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I'm leaving Tradestation. This month they updated their futures platform on short notice and half the markets are gone including most grains, foods and softs and most mini contracts. They are actually forcing people to close out all positions in markets that they no longer offer.

They tried to raise my commissions with no notice and only lowered them when I threatened to leave. They screw up so much nowadays that I can longer deal with them. Upwards of 100 calls/emails to deal with the quagmire of chaos over there.

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 paps 
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Hey thnx for info.

I know they updated fee structure but that seems to be thru all brokers due to fees. So if I need certain stuff I need to pay.

Could u Pls list what u were trading in symbols. Will be interested in knowing. I don't keep much track of other contracts than the indices.

Thnx for sharing

Cheer n goodluck
s

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  #7 (permalink)
Calamari88
Henderson, NV, USA
 
 
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paps View Post
Hey thnx for info.

I know they updated fee structure but that seems to be thru all brokers due to fees. So if I need certain stuff I need to pay.

Could u Pls list what u were trading in symbols. Will be interested in knowing. I don't keep much track of other contracts than the indices.

Thnx for sharing

Cheer n goodluck
s

I trade about half the futures contracts so it would be too long to list - approx 25 markets. A bunch of them can no longer be traded including mini corn, mini wheat, mini natural gas, Canola, Coffee, Sugar, OJ, KC wheat, spring wheat, and many more.

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 paps 
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Kool thnx for the info. Appreciate it.

And these were all possible till end of 2014 I guess.

Thnx
s

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Calamari88
Henderson, NV, USA
 
 
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paps View Post
Kool thnx for the info. Appreciate it.

And these were all possible till end of 2014 I guess.

Thnx
s

You're welcome. I think it's important we share this stuff with each other. These markets were all possible to trade til this week. They are still listing them on the website though you can't trade them.

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 kevinkdog   is a Vendor
 
 
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Calamari88 View Post
I trade about half the futures contracts so it would be too long to list - approx 25 markets. A bunch of them can no longer be traded including mini corn, mini wheat, mini natural gas, Canola, Coffee, Sugar, OJ, KC wheat, spring wheat, and many more.

I am not sure where you are getting your information, but I have been talking to the Trade Desk, and they have told me that everything I am currently trading I will still be able to trade after platform conversion (from Futures 4.0 to Futures+). That includes products you list, including ICE products. It is true that ICE conversion is scheduled for early March, but there are ways to still trade it.

Plus, these items can be traded on the main Tradestation platform 9.x (although I am not sure about min corn, mini wheat, since I do not trade them).

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Calamari88 View Post
I'm leaving Tradestation. This month they updated their futures platform on short notice and half the markets are gone including most grains, foods and softs and most mini contracts. They are actually forcing people to close out all positions in markets that they no longer offer.

They tried to raise my commissions with no notice and only lowered them when I threatened to leave. They screw up so much nowadays that I can longer deal with them. Upwards of 100 calls/emails to deal with the quagmire of chaos over there.

I do agree that they seem to rushing this conversion. I was first notified Jan 12, and the deadline for converting is Feb 27. A month and a half seems kind of quick. It also seems to be an artificial Tradestation self imposed deadline. I was told to wait until last possible minute to switch, so I'm sure TS will be slammed Thursday and Friday with conversions.

If you haven't closed your account already, give the Futures trade desk a call. I talked to Tom, and he is very knowledgeable on the details. The Client Services people are not as clued in, but that is pretty typical.

Kevin

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Calamari88
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kevinkdog View Post
I am not sure where you are getting your information, but I have been talking to the Trade Desk, and they have told me that everything I am currently trading I will still be able to trade after platform conversion (from Futures 4.0 to Futures+). That includes products you list, including ICE products. It is true that ICE conversion is scheduled for early March, but there are ways to still trade it.

Plus, these items can be traded on the main Tradestation platform 9.x (although I am not sure about min corn, mini wheat, since I do not trade them).

Hi Kevin, my apologies, I should have stated that I was referring to the 4.0 platform conversion to the Futures + platform. That's where most of these limitations will be occurring. After you switch platforms you'll see what I mean. I got my information from my broker Mitchel and Ryan at the futures trade desk. I mostly trade options. Ryan passed me misinformation so thanks for letting me know who is more knowledgeable there. Also just a heads up, before you need to trade the new platform do a test order for something you're not expecting to get filled. I had to call them 4 times to switch on my accounts and it was not a convenient time.

My broker told me for futures (not options) I wouldn't be able to trade any of the newly excluded markets like mini corn, mini wheat or mini natural gas on 9.5 platform. Have you heard otherwise?

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Calamari88
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When I received the first statement from my first trade on the Futures+ platform my commission had been raised from $5all inclusive to $5+ex fees totaling $6.36 for gold option commissions. They said the increase was due to the new platform. I spent an hour on the phone trying to convince them it wasn't right. Once I told them I was leaving they told me the commissions would be lowered to $1.20+ex fees which should total approx $3.80. But then when I got my next statement it was the usual $5all inclusive. So just a heads up. Hope it doesn't happen to you.

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 kevinkdog   is a Vendor
 
 
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Hi Kevin, my apologies, I should have stated that I was referring to the 4.0 platform conversion to the Futures + platform. That's where most of these limitations will be occurring. After you switch platforms you'll see what I mean. I got my information from my broker Mitchel and Ryan at the futures trade desk. I mostly trade options. Ryan passed me misinformation so thanks for letting me know who is more knowledgeable there. Also just a heads up, before you need to trade the new platform do a test order for something you're not expecting to get filled. I had to call them 4 times to switch on my accounts and it was not a convenient time.

My broker told me for futures (not options) I wouldn't be able to trade any of the newly excluded markets like mini corn, mini wheat or mini natural gas on 9.5 platform. Have you heard otherwise?

It is crazy that the answer you get from Tradestation depends on who you talk to. Unfortunately, I have experienced that for years. Last week, when talking about the 4.0 to + conversion, I actually had Client Services and Trade Desk on the line at the same time, and more than once they disagreed on what is going on!

I did find out that they were testing the ICE products this weekend on the + platform, so they were hoping to have that ready possibly this coming week. I was also told that even after the conversion, I'd still be able to access the 4.0 platform, for things that may not have been converted yet (like ICE and ICE Europe). I hope I don't have to, because that seems messy.

Definitely a pain. Thanks for the heads up on the test order idea - I will have to do that.

By the way, this + platform is only a temporary switch anyhow. In a "year" they intend on moving everything to the 9.x platform. This supposedly includes futures spreads, which you can't do on 9.x right now.

We'll see, I suppose...

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Calamari88
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It is crazy that the answer you get from Tradestation depends on who you talk to. Unfortunately, I have experienced that for years. Last week, when talking about the 4.0 to + conversion, I actually had Client Services and Trade Desk on the line at the same time, and more than once they disagreed on what is going on!

I did find out that they were testing the ICE products this weekend on the + platform, so they were hoping to have that ready possibly this coming week. I was also told that even after the conversion, I'd still be able to access the 4.0 platform, for things that may not have been converted yet (like ICE and ICE Europe). I hope I don't have to, because that seems messy.

Definitely a pain. Thanks for the heads up on the test order idea - I will have to do that.

By the way, this + platform is only a temporary switch anyhow. In a "year" they intend on moving everything to the 9.x platform. This supposedly includes futures spreads, which you can't do on 9.x right now.

We'll see, I suppose...

Thanks for the info. I was unaware they'd be making that conversion to 9.x. I may keep a small account going just to see where things go. I'm so angry I have to decide. It's amazing the depts can't agree with each other. I was told 3 months and ICE might be added but no guarantees. Hope your info is more accurate than mine on that. I was able to access 4.0 for a day after the conversion then they denied access.

Been trading for 17 years. I think the lesson I'm learning is to have 2-3 accounts in dif brokerages so I can move my trading/capitol in and out depending on which one currently has their act together. Do you know of any others that are reliable? I'm looking at Optionsexpress and OEC.

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 kevinkdog   is a Vendor
 
 
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Thanks for the info. I was unaware they'd be making that conversion to 9.x. I may keep a small account going just to see where things go. I'm so angry I have to decide. It's amazing the depts can't agree with each other. I was told 3 months and ICE might be added but no guarantees. Hope your info is more accurate than mine on that. I was able to access 4.0 for a day after the conversion then they denied access.

Been trading for 17 years. I think the lesson I'm learning is to have 2-3 accounts in dif brokerages so I can move my trading/capitol in and out depending on which one currently has their act together. Do you know of any others that are reliable? I'm looking at Optionsexpress and OEC.

I use OptionsXpress for options only, and I like them. I also use DeCarley (clearing through Gain) for option, and I like them. I recently closed a Dorman account, and a ADM account, and both of them were good (I went through an IB though). I also closed a Straits account, after 4 statement errors in a month (missed trades - I didn't even realize that could still happen in electronic markets!).

I agree, having multiple accounts at different brokers is a good idea, although it makes margin utilization a little less efficient.

I only use the Futures 4.0 platform for futures spreads, and a few non-automated outright futures swing positions. But I'll have no issue moving it if I have to.

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Calamari88
Henderson, NV, USA
 
 
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I use OptionsXpress for options only, and I like them. I also use DeCarley (clearing through Gain) for option, and I like them. I recently closed a Dorman account, and a ADM account, and both of them were good (I went through an IB though). I also closed a Straits account, after 4 statement errors in a month (missed trades - I didn't even realize that could still happen in electronic markets!).

I agree, having multiple accounts at different brokers is a good idea, although it makes margin utilization a little less efficient.

I only use the Futures 4.0 platform for futures spreads, and a few non-automated outright futures swing positions. But I'll have no issue moving it if I have to.

This is extremely helpful info Kevin! Thanks so much! Agreed the money management with the margin utilization is why I resisted breaking up my accounts but I think it's necessary. Also, I'm always afraid of losing my money due to a brokerage foreclosure so I guess it's better to be diversified in that sense.

Right now I'll be with tradestation for at least a month til my positions expire. Will let you know if any more problems pop up that could be of use for you to know about.

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 paps 
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Thnx @kevinkdog

this got me thinking.

As I was under impression they are expanding.

I will also talk to them to see .

Cheers
s

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 dstrader 
Chicago, USA
 
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If you want to do options go with TOS (ThinkOrSwim). There is nothing better out there in my opinion if you are a very active options trader. You can download it for free, you may hate it the first week (as I did) as they have a bit different user experience, but after that it's a breeze.

I use Tradestation/OptionXpress/ThinkOrSwim for options depending on strategy, capital, risk. Everything I do on TOS is way easier, great platform for options and stock trading in general. OX just get on my nerves every time I use it, and I'm about to close the account as they've been very slow to improve their platform.

Just my opinion. People have personal preferences when it comes to trading platforms as they have preferences for different cars...

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Calamari88
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dstrader View Post
If you want to do options go with TOS (ThinkOrSwim). There is nothing better out there in my opinion if you are a very active options trader. You can download it for free, you may hate it the first week (as I did) as they have a bit different user experience, but after that it's a breeze.

I use Tradestation/OptionXpress/ThinkOrSwim for options depending on strategy, capital, risk. Everything I do on TOS is way easier, great platform for options and stock trading in general. OX just get on my nerves every time I use it, and I'm about to close the account as they've been very slow to improve their platform.

Just my opinion. People have personal preferences when it comes to trading platforms as they have preferences for different cars...

Thanks for weighing in. TOS looks great except for that I trade a lot of gold and silver options and it looks like they don't offer those. Is that still the case?
https://www.tdameritrade.com/investment-products/futures-trading.page

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 dstrader 
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I don't know, they are very broad when it comes to options. Give them a call.

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Calamari88
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Monitor your open orders on the new Futures+ platform. They randomly cancelled an order. The trade desk had no idea why but I'm glad I was keeping an eye on it.

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Monitor your open orders on the new Futures+ platform. They randomly cancelled an order. The trade desk had no idea why but I'm glad I was keeping an eye on it.

Wow, that is pretty amazing (and bad).


At this morning, it is taking 5-6 seconds from the time I hit order confirm until the time the order shows on exchange. I thought Futures 4.0 was slow, but this "new" software is reallllyyy slow. Other brokers are as fact as <1 second.

Still no ICE products available either.

I am going to start looking for another broker for this account. No change yet, but maybe if more problems crop up. I'll still keep all my automated strats in 9.X platform, though.

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Calamari88
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Wow, that is pretty amazing (and bad).


At this morning, it is taking 5-6 seconds from the time I hit order confirm until the time the order shows on exchange. I thought Futures 4.0 was slow, but this "new" software is reallllyyy slow. Other brokers are as fact as <1 second.

Still no ICE products available either.

I am going to start looking for another broker for this account. No change yet, but maybe if more problems crop up. I'll still keep all my automated strats in 9.X platform, though.

I noticed the same 5-6 second delay after hitting submit order.

There were certain features like the theoretical option price calculator on 4.0 that was helpful and is missing on this new platform. But they do give you the delta, gamma, theta and vega in multiple places (sarcasm!) What about when you get the order confirmation window and they list the strike price twice with different decimals? Ei Gold 1500 call & Gold 150 call.

I just opened an account with Futures Online (formerly OEC). Check them out. Don Debartolo over there was my broker for 4 years before I switched to Tradestation. The platform they use called DTpro is outstanding and the commissions are lower. I had far less problems when I was with them so it's a relief to switch back. Like you, I'll be maintaining a small account at Tradestation for backtesting purposes and certain unique features.

By the way, my broker at Tradestation gave me 3 months/up to $500 free commissions starting this month as an apology for all the problems. Hit your broker up for the same deal.

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  #25 (permalink)
 kevinkdog   is a Vendor
 
 
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I noticed the same 5-6 second delay after hitting submit order.

There were certain features like the theoretical option price calculator on 4.0 that was helpful and is missing on this new platform. But they do give you the delta, gamma, theta and vega in multiple places (sarcasm!) What about when you get the order confirmation window and they list the strike price twice with different decimals? Ei Gold 1500 call & Gold 150 call.

I just opened an account with Futures Online (formerly OEC). Check them out. Don Debartolo over there was my broker for 4 years before I switched to Tradestation. The platform they use called DTpro is outstanding and the commissions are lower. I had far less problems when I was with them so it's a relief to switch back. Like you, I'll be maintaining a small account at Tradestation for backtesting purposes and certain unique features.

By the way, my broker at Tradestation gave me 3 months/up to $500 free commissions starting this month as an apology for all the problems. Hit your broker up for the same deal.

Thanks for the info! I appreciate it. I am using Futures+ mainly for futures calendar spreads, which 9.x cannot do. So, it is not a big deal for me to switch this one account, if I need to. I'll still keep using 9.x accounts, too...

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  #26 (permalink)
Calamari88
Henderson, NV, USA
 
 
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They're still randomly cancelling orders. Watch them like carefully!

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  #27 (permalink)
Calamari88
Henderson, NV, USA
 
 
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To answer the OP's question about Tradestation being trustworthy - they offered me in writing to give me 3 months/$500 in free commissions to compensate me for poor service. The months past and they never gave them to me. I've followed up numerous times to no avail. I warned them I'd close my 6 figure account that generates hundreds of trades per month if they didn't do right by me. They don't care.

I just transferred all my funds to another brokerage. I can't deal with their lying and incompetence any more.

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  #28 (permalink)
 malibu 
toronto canada
 
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All I have to say is that I have been a TS user for years, and I will dumping them this month. Way too many "glitches". My strategies produce signals correctly about 99% (not accuracy, but correct time, and so on) of the time. However, this month has been HORRID. Sending signals at all times of the night ... etc. I have had my fill.

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  #29 (permalink)
 mamax98 
Los Angeles California United States
 
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I just opened an account with them, so this thread is giving me a stomachache lol
The question is: what's a better option when it comes to trading Futures? I considered MB Trading and they're horrible (taking almost 2 weeks to process my application). MB Trading took 2 days to respond to a simple question I asked (three times)..

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  #30 (permalink)
Calamari88
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I just opened an account with them, so this thread is giving me a stomachache lol
The question is: what's a better option when it comes to trading Futures? I considered MB Trading and they're horrible (taking almost 2 weeks to process my application). MB Trading took 2 days to respond to a simple question I asked (three times)..

I'd head over to Futuresonline.com (formerly OEC). My broker Don Debartolo is the best I've worked with in 17 years. I worked with him at Daniels for a 4 year stretch a while back. The futures commissions are less than Tradestation as well. Opening the account went fast and smoothly. In the past 3 months since switching I've had to call Futuresonline with problems zero times. In the last month with Tradestation I had to call and e-mail them over 100 times with problems. The platform is vastly superior to that piece of crap Futures + platform. They'll give you a demo account I think. Also Tradestation pretends that the new CME monthly charges are $15. At futuresonline you have a choice of paying $3 or $15 depending on if you need the DOM. I do the $3 option. I could go on but check them out.

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 mattz   is a Vendor
 
 
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....Tradestation pretends that the new CME monthly charges are $15. At futuresonline you have a choice of paying $3 or $15 depending on if you need the DOM. I do the $3 option. I could go on but check them out.

The new CME monthly is $15 for all CME group exchanges. The $3 applies to to top of the book.
Not all data feeds provide top of the book.

Matt

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 support@OptimusFutures.com
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  #32 (permalink)
 mamax98 
Los Angeles California United States
 
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Calamari88 View Post
I'd head over to Futuresonline.com (formerly OEC). My broker Don Debartolo is the best I've worked with in 17 years. I worked with him at Daniels for a 4 year stretch a while back. The futures commissions are less than Tradestation as well. Opening the account went fast and smoothly. In the past 3 months since switching I've had to call Futuresonline with problems zero times. In the last month with Tradestation I had to call and e-mail them over 100 times with problems. The platform is vastly superior to that piece of crap Futures + platform. They'll give you a demo account I think. Also Tradestation pretends that the new CME monthly charges are $15. At futuresonline you have a choice of paying $3 or $15 depending on if you need the DOM. I do the $3 option. I could go on but check them out.

Thank you very much for the recommendation, I will check them out.
As for the DOM fees, I actually don't mind that. I do care about service and pricing though. We'll see

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Quad
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I wonder if there have been any product additions recently. Im currently looking for a new broker to use for options on futures and futures spreads. Are there any Eurex or CFE products on the Futures+ platform? Would Futures spreads be available (calendars, flies or even bundles)

cheers

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 Papertrade 
Las vegas NV
 
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Quad View Post
I wonder if there have been any product additions recently. Im currently looking for a new broker to use for options on futures and futures spreads. Are there any Eurex or CFE products on the Futures+ platform? Would Futures spreads be available (calendars, flies or even bundles)

cheers

I just opened a (equity) options account with TS but my needs are very basic I just want to position/swing trade spy calls and puts and i was trying to avoid dealing with a different platform as I already have a futures acc with TS, , I did a little research on option brokers and I would suggest You look elsewhere if You need flexibility, Although TS offers all kinds of strategies including naked plays and margin You'd need separate accounts for equity options and futures options also their commission schedule is not one of the best and not that many products are offered I would suggest You research IB, lightspeed and options house and maybe TOS They're probably a better fit for You.

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  #35 (permalink)
Quad
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Papertrade View Post
I just opened a (equity) options account with TS but my needs are very basic I just want to position/swing trade spy calls and puts and i was trying to avoid dealing with a different platform as I already have a futures acc with TS, , I did a little research on option brokers and I would suggest You look elsewhere if You need flexibility, Although TS offers all kinds of strategies including naked plays and margin You'd need separate accounts for equity options and futures options also their commission schedule is not one of the best and not that many products are offered I would suggest You research IB, lightspeed and options house and maybe TOS They're probably a better fit for You.

Ok thanks mate

Im mostly active in futures and the options on these futures.I heard theyre not available on the TS platform but the Futures+ platform was designed exactly for that which got me interested. My only concern would be a possible limitation to CME products on Futures+. How would you compare IB to TS in the futures department, IB probably cheaper and all products on one platform but it looks like they try to shy away options sellers for some reason, margins can be astronomically high compared to exchange minimum. Not sure if TS handles them more efficiently.

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  #36 (permalink)
 Papertrade 
Las vegas NV
 
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Quad View Post
Ok thanks mate

Im mostly active in futures and the options on these futures.I heard theyre not available on the TS platform but the Futures+ platform was designed exactly for that which got me interested. My only concern would be a possible limitation to CME products on Futures+. How would you compare IB to TS in the futures department, IB probably cheaper and all products on one platform but it looks like they try to shy away options sellers for some reason, margins can be astronomically high compared to exchange minimum. Not sure if TS handles them more efficiently.

I'm not very happy with TS lately, too many hiccups with this option account opening. I asked to be put on the per contract commission scheduled They put me on that per trade scheduled You can only switched between schedules once When I called to Ask Them to fix the mistake They did but said I had burnt my one time switch option even though I insisted I cleared stated that I elected the per contract. And I only had one trade on that account by then.

They have a commission rebate promo going on right now 20% discount up to $500 until march 2016 for new accounts. For some reason They deposited $500 on my futures account which is independent from the options acc and that's not even how the rebate works they give You credit (rebate ) as You use it and any unused portion will expire by march 2016 I had to call and warn Them of Their gross mistake. Makes You wonder how sophisticated/reliable is Their system and how safe are your funds.

I asked the (Options specialist) representative a few basic questions about data and the options platform and He didn't know the answer (or didn't care) sent me a website general option info link that had nothing to do with my questions, after exploring the platform for 1/2 hour and a quick data search I could have done a better job.

The futures platform is ok again it all depends on your needs and how much coding You require, I,m not familiar with NT and I'm not a programmer but most people who used both will say NT is a superior product for coding and execution which is not a main concern for me as I enter and exit limit only my stop loss is market but I usually just get slippage when it should be expected B/O or wild swings, reason I chose TS in the past is because I wanted to use this one volume indicator that was said to be erratic on NT but ok on TS I'm actually considering ditching that indicator and my charts will only have price and volume. According to the NT vendor on this forum poor performance indicators are due to poor scripted codes. Same could be the case with Sierra charts and other popular platforms I can't give You solid reviews or comparisons among platforms as I m not familiar with Them and my trading doesn't require any coding.

That's Their list on options on futures https://www.tradestation.com:443/products/software-and-data-pricing/futures-options-data

About IB the last time I used Them was over a decade ago so I don't how They fare now, but They're by far the broker that offer the most products also very flexible account structure (universal account) They even have a feature that prevents You to place the trade that would render your account to be tagged pattern daytrader if your balance is below 25k.

I don't know Why IB would restrict option sellers but many brokers will have restrictions with margin and naked plays some will ask You for a solid record many won't even offer those features but yeah I noticed a trend with IB They seem be more and more concerned with preventing potential losses and regulations. One of the things I read on this forum is that They are restricting futures daytrading on IRA accounts. Something that could potentially disqualify your IRA but the actual IRS is completely vague in setting the parameters for such disqualification.

There are many brokers and platforms reviews in this forum read Them. You might surprise yourself You might find that the features You're looking for are not that important and features that You didn't think about it may be worth digging deeper.

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  #37 (permalink)
Quad
Germany
 
 
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great review, thanks a lot. Now that makes me think to look after different options. I called them, looks like the futures and options accounts have to be opened separately, so no chance to cross margin stuff. Have you had the chance recently to check the Futures+ for any other exchanges (Eurex, CFE etc). Is it really that slow when sending orders?

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  #38 (permalink)
 Papertrade 
Las vegas NV
 
Experience: Intermediate
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Quad View Post
great review, thanks a lot. Now that makes me think to look after different options. I called them, looks like the futures and options accounts have to be opened separately, so no chance to cross margin stuff. Have you had the chance recently to check the Futures+ for any other exchanges (Eurex, CFE etc). Is it really that slow when sending orders?

Yeah I said that on a previous post equities and futures options are separated accounts, no is not slow just not the fastest and that depends a lot more on your end and how your connection is set up. Unless You're scalping it shouldn't affect your bottom line.

Those are the Euro products They support.


https://www.tradestation.com:443/products/futures/margin-requirements


EUREX
DAX* FDAX €20,543 €20,543 25% of initial
DJ STOXX 50 INDEX* FESX €2,575 €2,575 25% of initial
DJ STOXX 600 BANKS FSTB €725 €725 NONE
DJ STOXX 600 INDST G&S FSTG €1,635 €1,635 NONE
EURO-SCHATZ FGBS €395 €395 NONE
EURO-BOBL FGBM €1,065 €1,065 NONE
EURO-BUND* FGBL €2,200 €2,200 25% of initial
EURO-BUXL* FGBX €5,880 €5,880 25% of initial
DJ STOXX 600 UTILITY* FSTU €1,185 €1,185 25% of initial
EURONEXT LIFFE
FTSE 100 INDEX FUTURES LZ £3,485 £3,485 None
THREE MONTH EURO (EURIBOR) INTEREST RATE FUTURES LT2 €518 €518 None
THREE MONTH STERLING (SHORT STERLING) INTEREST RATE FUTURES LL £289 £289 None
THREE MONTH EURO SWISS FRANC INTEREST RATE FUTURES LF2 CHF 825 CHF 825 None
LONG GILT FUTURES LJ £2,200 £2,200 None
MEDIUM GILT FUTURES H £1,060 £1,060 None
SHORT GILT FUTURES G £640 £640 None
LONDON COCOA FUTURES CC3 £890 £890 None
LONDON ROBUSTA COFFEE FUTURES RC $940 $940 None
CURRENCIES (CME)
AUSTRALIAN DLR. AD $1,980 $1,800 NONE
BRITISH POUND BP $2,035 $1,850 NONE
CANADIAN DLR. CD $1,705 $1,550 NONE
EURO CURRENCY EC $3,630 $3,300 NONE
JAPANESE YEN JY $2,970 $2,700 NONE
MEXICAN PESO MP1 $2,035 $1,850 NONE
NEW ZEALAND DLR. NE1 $2,090 $1,900 NONE
SWISS FRANC SF $4,950 $4,500 NONE
DOLLAR INDEX (ICE) DX $2,310 $2,100 NONE
MINI EURO E7 $1,815 $1,650 NONE
MINI YEN J7 $1,485 $1,350 NONE
E-MICRO AUD/USD M6A $198 $180 NONE
E-MICRO GBP/USD M6B $204 $185 NONE
E-MICRO EUR/USD M6E $363 $330 NONE

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  #39 (permalink)
 paps 
SF Bay Area + CA/US
 
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per my 2cs. TS seems to be one of the best platforms available ..and it might not just be for a retail crowd is what i understand

cheers...but again just my 2cs....everyone else needs to do their dd

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