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[jtrader33]

Bob- I'm interested in learning more about LS. Would you prefer to have questions put up here, or to be contacted directly?

 

[Maverick74]

Bob, step up to the podium, the fish are biting!

On a more serious note, I looked at your site and you guys seem to offer a nice menu of trading platforms and competitive rates. Why don't you make the case for choosing LS over IB. I'm genuinely interested.

 

[J.P.]

Just went back and re-read the whole thread. The poster seems to believe the requested liquidation came from Wedbush, but I don't think that is necessarily the case. DDT, the introducing broker is in charge of dealing with the client. They are guaranteeing his account at Wedbush and it seems more likely they were the ones who weren't comfortable with his account. Generally the customer only deals with the introducing broker, who works as a conduit with the clearing firm.

Not sure if Bob can comment on an individual case, but maybe he can speak generally about how an introducing broker works with Wedbush and if it is likely that Wedbush was talking directly to a client.

First you commented on a thread you did not read. Now you are in denial. Just for the record here are the salient excerpts from that thread:

Yes my account is now closed and all transferred to my new FCM.
The FCM that gave me 48h to close my positions was Wedbush introduced by DDT.

Are you sure it was Wedbush futures that closed you down and not DDT?

Definitely sure that this was Wedbush. This came from their Chief Risk Officer. DDT has no power over the FCM, they just introduce new accounts and get a profit share of the commissions. That was also the risk guy that gave me 48h to close my positions.

 

[FSU]

First you commented on a thread you did not read. Now you are in denial. Just for the record here are the salient excerpts from that thread:

Don't want to hijack this thread as it is really meant to be a welcome to Bob and Lightspeed to this forum, but I will comment one last time. I did in fact read the entire thread. Just because the OP believes that Wedbush shut him down, doesn't mean that is true, although it is possible. Generally this would be handled by the introducing broker, which is why I am questioning it. Don't really understand your negative attitude either.

 

[J.P.]

Don't want to hijack this thread as it is really meant to be a welcome to Bob and Lightspeed to this forum, but I will comment one last time. I did in fact read the entire thread. Just because the OP believes that Wedbush shut him down, doesn't mean that is true, although it is possible. Generally this would be handled by the introducing broker, which is why I am questioning it. Don't really understand your negative attitude either.

Wrong yet again; you're on a roll. In stark contrast to your comments the record shows I proffered no attitude--only facts.

 

[rmorse]

Bob- I'm interested in learning more about LS. Would you prefer to have questions put up here, or to be contacted directly?

Directly please. My email address is in my signature. As I work for a regulated Broker Dealer, all these conversations need to be private. In public, I need to stick to fact when possible.

Bob

 

[rmorse]

Bob, step up to the podium, the fish are biting!

On a more serious note, I looked at your site and you guys seem to offer a nice menu of trading platforms and competitive rates. Why don't you make the case for choosing LS over IB. I'm genuinely interested.

Thank you Maverick, but I think our website speaks for itself. Please check out our institutional website too at https://www.lightspeedinstitutional.com/. I'm happy to talk details with anyone directly.

Bob

 

[RosyScenario]

I got the impression from that thread that although the guy cleared through Wedbush, it was his introducing broker who asked him to close his account.

WTF, the guy in that thread went out of his way to post about his experience with Wedbush. In that same thread he was challenged to show how he was certain that it was Wedbush and not the broker that forced the quick closure of his account.

He met that challenge.

The issue was settled. The guy only wanted to warn others about Wedbush. Then you come out of the woodwork in all your ignorance and talk about your "impression" that he was wrong and falling just short of calling the OP a liar? You should go and hide your head in shame.

 

[HattieTheWitch]

Two months after the prior post, the following was posted the thread referenced on page 1 of the current thread:

I have an update for everyone here. I have been in contact with ryker and got his permission to look into this. ryker was never asked to leave Wedbush. The Introducing Broker that was his broker on the account, was asked to leave, but never provided this information to him. Wedbush gave the IB 10 days to transfer their accounts to another FCM, another Broker at Wedbush or close them. It had nothing to do with this trading. It had to do with the IB relationship with the FCM.

Bob

From: https://www.elitetrader.com/et/threads/been-asked-to-move-to-another-fcm.301026/page-7