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I appreciate the feedback. For me, then, the marginally higher commission
rate at LFG for Zap is more than made up for by the effciency of the order
process.
FYI: Minimum account size for Zap use is 10K.
Steve
-----Original Message-----
From: francois <fandldutch@xxxxxxxxxxxxx>
To: Steven Buss <sbuss@xxxxxxxxxxx>
Cc: metastock group <metastock-list@xxxxxxxxxxxxx>
Date: Thursday, February 19, 1998 2:36 AM
Subject: Re: Zap...
>
>-----Original Message-----
>From: Steven Buss <sbuss@xxxxxxxxxxx>
>To: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
>Date: Wednesday, February 18, 1998 4:51 PM
>Subject: Zap...
>
>
>>Used the LFG,LLC, Inc. Zap Futures ("Leo-Web") product today for the
first
>>time.
>>
>>Very impressed...
>>
>>The order number out of the S&P pit shows up on my screen within 5 seconds
>>and the order is clearly being filled within the space of a 1 minute bar.
>>Confirmation with the fill price was never more than 5 minutes out and
>>usually only 2-3 minutes out. Got some good fills that I couldn't have
>>replicated with a broker over the phone.
>>
>>Zap doesn't provide online account information access though.
>>
>>I forget what web site I looked at recently that contained reviews of
>>various futures order entry products and FCMs/Brokers...But it did appear
>>that the LFG, LLC Zap ("Leo-Web") product had among the best reviews among
>>those products for whom reviews had been submitted.
>>
>>The materials that Lind-Waldock provides regarding its product are very
>nice
>>though. The reviews I've seen though appear mostly negative. My question
>>is whether the L-W product is truly an "internet based" product rather
than
>>a BBS private number product. Anyone know? Anyone have experience with
it
>>and an opinion?
>>
>>Steven Buss
>>sbuss@xxxxxxxxxxx
>>Walnut Creek, California
>>
>>I have been with L-W for a while and you are correct in the assumption
that
>there trading software is a call-in BBS system. You can enter orders,
>receive fills and get current account status.
>The problem is that the orders are cleared by the trading desk and not by
>the system. This only adds time to your order ( so you might as well use
the
>phone). I also believe that the system is only used in certain markets I.e
>grains and the S&P). You can get clearance from the system and go directly
>to the floor desk only if you have an account exceeding 100K.
>I have used it only about 20% for order entry and mainly use it to check
for
>account status.
>Hope this helped
>Have a great trading day.
>Francois van Mever
>FandLdutch@xxxxxxx
>Atlanta,GA
>
>
>
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