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Even if they have a prop shop that is trading doesn't the order get sent to the exchange and then the order matching algorithm at the exchanges matches the buys and sells?

That is not what the wording implies. This states the way I understand it, that anyone that works for the broker can take the other side of the trade! Also I would like to know what "pre-execution communications" means? That sounds very suspect because it is not in reference to the client!

I checked at several very popular brokers/clearing firms and they all have that clause.

this sound like something that would be in a bucketshop agreement. I thought the broker always has to pass the trades onto the exchange?

I was recently opening an account with a futures broker and when I was reading through the find print, i saw this: Consent to Take the Other Side of Orders - Without its prior notice, Customer agrees that (i) "Broker" may engage in pre-execution communications in accordance with applicable...

thanks for the reply. That is the kind of info I was looking for.

I am considering using zumo, i wanted to ask if anyone has a live account with them? Please share your opinions. Thank You!

lol whats wrong with gambling? driving a toyota with shitty brakes, what do you call that?

I think people are slowly starting to realize where this whole thing is headed and there will be no quick way out. The FED should just send everyone $10000 checks so we can all go back to buying Chinese made crap.

hey oldtrader. Do u have experience in these types of matters? Are you a lawyer?

ye that would be an epic screw up. but i am looking for a more stable platform since this whole experience is quite sobering.

it wasn't a blowout it was a small loss compared to the acc. but from what i have heard so far even IB which is one of the biggest brokerages has similar situations where the only thing that can be relied upon is the actual statement. Every broker has these electronic agreement statements...

i wonder if ninja trader has these kinds of bugs? x-trader seems a bit too expensive for me at this stage.

the platform is gstrader, it is strategy runner but with a different name.

platform is gstrader / strategy runner. its the same thing just different name.

The reason i posted the thread was to get some guidance on how to proceed further. The reason i don't want to name the broker in public is i don't know the legal implications of doing that. From what i have heard so far from everyone here is that think kind of stuff has happened in the...

i did many trades before that and everything was fine until that glitch happened. I been trading with them a long time this kind of crap i would never dream could happen.

the only prob in my case was the platform was showing everything flat and no open positions. NONE. keep in mind i am paying a monthly fee for this platform. i been using this platform a long time and i know every option, window, etc..

What i wanted to know is do i have any recourse? how does the NFA handle these types of things?

because of the "technical glitch" it wasn't. loss wasn't that big but could have been much worse. They said statement is iron clad. They said you can't rely on the platform even though I am PAYING a monthly fee for it. Its messed up cause imagine you are in a position and don't even know it...