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I know this is the omega list, but I figured this is good enough of a
question to be up here.
I have been trying to test my trading in futures and getting very frustrated
with the future broker industry. I think I have tried all the "good" ones.
Leo-web: The IB I was working with changed my account number in the middle
of a trade without informing first. I got locked out of the software and
lost money. System connectivity, Leo-web, TOPS, CUBS is useless during a
more active day.
Best-direct: Many times I had my trades show up in other people's accounts
and other people's trades will show up in my account. Easily fixed till one
of them involved a large loss and they tried to make me take it. Took three
weeks to resolve. System connectivity was lacking, never knew if they
received orders or not.
PMBe: System locked me out because of a false margin violation on the EXIT
trade, not the entry trade. The system treated my cover/offset trade as
requiring additional margin. That trade was profitable. Calling the trading
desk when you are an electronic trader is useless, takes a couple of minutes
to get them to execute a trade. It is taking me over three weeks now to get
them to kill the trade, still no results.
My trading is very short term and requires a very reliable broker. I am
basically a stock trader and I am used to reliable software. Is the futures
industry not ready for electronic trading? I don't want to change my
trading, it fits me too well. Am I wrong in expecting reliable execution
from brokers? Is anyone working with a reliable broker? As in no
connectivity problems or software problems?
We trade as a group and this happens to all of us, not just me, so I know it
is not a fluke. I am sick of arguing with brokers trying to get back what's
rightfully mine. I am also sick of changing brokers, can't trade this way.
I don't want to trade over the phone and I don't want to change my trading
style. Any suggestions? Or should I give up and go back to trading stocks?
Thanks in advance and I hope that this information benefited someone,
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Shay Horowitz
www.zeus-holdings.com
www.teamzeus.com
www.shoguntrading.com
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