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Under the new promotion data for level1 Nynex/Globex/Comex are free as long as you maintain a $2000 balance or place 5 trades a year or you get charged a $50 annual inactivity fee.
i was looking into account also..above is from account rep
Just curious, How long does this free data stay? will it be grandfather or if they change them later, will we be charged for data fee or other whatever account service fee?
Hi. They are doing business. They made the offer to make you; as a business partner/ customer; satisfied and stay with them. If they are not benefiting from the customer, why they would "love" to keep him!!
If the customer didn't like their offer at any point, he's free to leave them for someone else! Multicharts is also one of my favorite platform. I love it. However, you need to "synchronize" their platform with your brokerage platform/ system. Otherwise, you'll need to pay for the live data when their offer expired (Assuming you have live data offer)!!
If you need a platform just to learn, then you don't need a live data! More options are available for EOD End Of Day Data.
Okay so they have two tiers and you can switch back and forth I recommend people don't free platform and see if it meets your needs with what's included account services is happy to walk you through the difference of sticking to the old plans per share or switching to the new free platform. Either way it's TS taking a direct shot at IB, TOS and Ninja to steal back old clients or bring new ones on board. Win for for all of us users, imo TS has the best data and charting and automated strategy testing in the industry can't go wrong my other platforms are Sierra through InfinityAT and TOS now for options I'm testing TastyWorks, the creators of TOS new brokerage and platform
Hi,
I started the account opening procedure, but there is something in their agreement that is really annoying for me:
(5) The funds you deposit with a futures commission merchant are not held by the futures commission merchant in a separate account for your individual benefit. Futures commission merchants commingle the funds received from customers in one or more accounts and you may be exposed to losses incurred by other customers if the futures commission merchant does not have sufficient capital to cover such other customers’ trading losses.
Is it the same with all brokers? How does it come that i will be responsible for somebody else's loses?
As for the fees - the offer is still available, you pay nothing if you trade more then 10 contracts monthly. Software, data (even level2) is free of charge.
Equities capital held by a brokerage or by its banks is protected by law up to a limit - I think 50k. Futures capital as I understand is not as futures are considered 100% speculative. I believe this is the same for most if not all futures brokers. There might be minor changes in the way your capital is treated/held from broker to broker but potentially it is at risk at any broker. You just need to do your research and make sure you sign up with a reputable broker.
Hello. The clause mentioned is part of CFTC requirements and is not by Tradestation "sole" requirement but you'll find it also by other brokers too.
This is "cut and past" from CFTC to be acknowledge by all members. In case you have doubts about Tradestation compliance, please contact them and if you are not convinced with their response, you may also contact CFTC on the same regard. Please keep all members updated with your case.
(((The Commission adopted Sec. Sec. 1.20 through 1.30, and Sec. 1.32, to implement section 4d(a)(2) of the Act, and adopted part 22 to implement section 4d(f) of the Act. The purpose of these regulations is to safeguard funds deposited by futures customers and Cleared Swaps Customers, respectively.
Regulation 1.20 requires each FCM and DCO to separately account for and to segregate from its own proprietary funds all money, securities, or other property deposited by futures customers for trading on designated contract markets. In addition, all futures customer funds must be separately accounted for, and may not be commingled with the money, securities or property of an FCM or of any other person, or be used to secure or guarantee the trades, contracts or commodity options, or to secure or extend the credit, of any person other than the one for whom the same are held. Regulation 1.20 also provides that an FCM or DCO may deposit futures customer funds only with a bank or trust company, and for FCMs only, a DCO or another FCM. The funds must be deposited under an account name that clearly identifies the funds as belonging to the futures customers of the FCM or DCO and further shows that the funds are segregated as required by section 4d(a)(2) of the Act and Commission regulations. FCMs and DCOs also are required to obtain a written acknowledgment from a depository stating that the depository was informed that the funds deposited are customer funds being held in accordance with the Act.
FCMs and DCOs also are restricted in their use of futures customer funds. Regulation 1.22 prohibits an FCM from using, or permitting the use of, the
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futures customer funds of one futures customer to purchase, margin, or settle the trades, contracts, or commodity options of, or to secure or extend the credit of, any person other than such futures customer. In addition, Sec. 1.22 provides that futures customer funds may not be used to carry trades or positions of the same futures customer other than in commodities or commodity options traded through the facilities of a contract market.
Under Sec. 1.20, an FCM or DCO may, however, for convenience, commingle and hold funds deposited as margin by multiple futures customers in the same account or accounts with one of the recognized depositories. An FCM or DCO also may invest futures customer funds in certain permitted investments under Sec. 1.25.)))
