Apex Futures/RCG

trader777

if it was 2 months ago, they had better start getting ready to leave town - there is and will be a lot more competition

gni never really seemed to get it together in the US, but they are supposed to be good in the UK - but you will get quoted high charges as they are used to institutional business only
 
trader777

unless you are trading large size, it is better to stick with a US broker, and even with large size, I understand from some amercans that you still have a battle to deal with UK brokers - but technically i believe GNI UK are good
 
Man in the Uk have the same attitude as all UK brokers, you can get $10 or less to start in the US from a Man IB, with low account size and good margins - but in the Uk - Man want circa $15 to start and all the other baloney you get in the UK
 
Sorry for the delayed reply, but I have been busy after the long weekend. Biased or not, I have to say RCG has been having their problems with growing pains. Since the buyout of PMB many IBs (including ApexFutures.com) have left Refco in search of other clearing firms. We were the first to go to RCG and convince them to use J-Trader and since then they have gotton many other large IBs. (E-Local, which clears RCG, was using J-Trader, but used its own servers). Now that they have gotten a huge influx of IBs, and therefore accounts, they have not been able to keep up with the growth. They have assigned to people to tech support now and purchased more new servers and have planned meetings with PatSystems to fix the poblem. I would give them another week to resolve the J-Trader issues, if not we may go hunting for another FCM.

Craig
 
I second the comment about Craig. Bravo...

I guess this is the major plus for going with Independent IB's. They can actually voice "independent" opinions from that of the FCM.
 
I am sorry to hear that

RCG is having Introducing Broker problems?

I worked for them in nyc 84-92

I remember one summer after Collins merged with Rosenthal

and they brought in First American accts

things were messed up for months in some accts and
we did not get a day off all summer except for july 4th

only other time it was so bad was when gold and silver tanked
in the late 80's and the 87 crash
but that affected all firms
 
Originally posted by craigross
Sorry for the delayed reply, but I have been busy after the long weekend. Biased or not, I have to say RCG has been having their problems with growing pains. Since the buyout of PMB many IBs (including ApexFutures.com) have left Refco in search of other clearing firms. We were the first to go to RCG and convince them to use J-Trader and since then they have gotton many other large IBs. (E-Local, which clears RCG, was using J-Trader, but used its own servers). Now that they have gotten a huge influx of IBs, and therefore accounts, they have not been able to keep up with the growth. They have assigned to people to tech support now and purchased more new servers and have planned meetings with PatSystems to fix the poblem. I would give them another week to resolve the J-Trader issues, if not we may go hunting for another FCM.

Craig
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Thanks for the info Craig. I heard that some meeting was to take place last night with RCG, so I assume there is something that will happen soon. Correct?
 
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