Which broker has best risk management features? I'm currently with IB which allows me to limit size for my traders but not max loss per day. I know Rithmic has auto-liquidate feature but its at the broker level and there is a fee each time its activated. Any other alternatives? How do daytrading prop firms limit risk?
Any broker/platform offers auto-liquidate RM feature (like Rithmic)?
- Thread starter newwer
- Start date
MattZ
Sponsor
Let's try and find an FCM that may not have this charge, or if you trade frequently we can cover that.
If you manage traders who trade futures you need TT - Trading Technologies. There is 0 reason to do this on IB
TT includes auto-liquidate functionality. You may read more about it here:
https://library.tradingtechnologies.com/user-setup/rl-account-auto-liquidation.html
https://library.tradingtechnologies.com/user-setup/rl-account-auto-liquidation.html
SierraCharts has this feature and is provided by most brokers.
https://www.sierrachart.com/index.php?page=doc/GlobalProfitLossManagement.php
https://www.sierrachart.com/index.php?page=doc/GlobalProfitLossManagement.php
MattZ
Sponsor
Thank for this info. Is this set on the FCM side or customer?
The admin sets this so the FCM. We're looking at allowing the end-user, customer/trader, set this as well. The trader could then set a finer auto-liquidate level than their admin may have applied. This work hasn't been completed and I don't have a timeline.ur
I love this feature, BTW.
MattZ
Sponsor
If this is set by the trader, this may bring you many users.
I know Phillip Capital is an FCM that works closely with TT and other platforms that have the autoliquidate function
MattZ
Sponsor
If TT has this functionality all FCM that work with TT could enable it. AMP, ADM, Wedbush, etc.
You just have to ask the risk guys to enable it