Looking for good futures day trading broker (considering Cannon)

[DirectMarketAccess]

Well, like is said...i do not want to get into my experiences. however here is list of all the 26 Ironbeam/Farr Financial CFTC cases with the CFTC phone number if any wants to take the next step to call.

Newest ones from Ironbeam:

Case # Details
15-R009 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
15-R004 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
11-R017 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.

Farr Financial:

Case # Details
12-R001 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
11-R017 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
10-R032 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
09-R045 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
09-R043 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
09-R020 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
08-R009 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
08-R008 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
07-R027 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
07-R014 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
07-R008 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
06-R037 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
05-R067 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
05-R008 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
04-R047 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
03-R080 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
02-R037 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
01-R094 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
01-R059 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
00-R083 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
00-R021 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
00-R018 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.
99-R011 For more information, contact the Commodity Futures Trading Commission at (202) 418-5508.

Like I said, already called about the Ironbeam ones. I don't really care about Farr since they're an IB now and not entirely the same company as Ironbeam. When FCM's fuck up, they get an NFA ban, like Vision, Refco, MF. If Farr did something as bad as them, they wouldn't be allowed back.

 

[Scataphagos]

@Scataphagos If you want to stay at Wedbush, I can help. We clear through them and can keep your account there with the current set up you have. PM or call me if interested.

Talked to a different guy about avoiding the transfer to Ironbeam. Long story short, he said "Wedbush policy for this situation... no way of assigning a new IB to your account... your account cannot "stay" here at Wedbush".

I may end up at Wedbush yet, but I'll have to jump through hoops to keep the players happy, regardless.

For now I've chosen Dorman, but I'll keep you in mind.

 

[Scataphagos]

Like I said, already called about the Ironbeam ones. I don't really care about Farr since they're an IB now and not entirely the same company as Ironbeam. When FCM's fuck up, they get an NFA ban, like Vision, Refco, MF. If Farr did something as bad as them, they wouldn't be allowed back.

You may have a point about "degree of fuckup". But I'd rather trust my money to someone who has been "less fuckup" than another. (I'm a former SEC RIA and Registered Principal. In my view, reputation matters.)

 

[MattZ]

Talked to a different guy about avoiding the transfer to Ironbeam. Long story short, he said "Wedbush policy for this situation... no way of assigning a new IB to your account... your account cannot "stay" here at Wedbush".

I may end up at Wedbush yet, but I'll have to jump through hoops to keep the players happy, regardless.

For now I've chosen Dorman, but I'll keep you in mind.

I appreciate the consideration. Someone of the same magnitude in terms of stability would be ADMIS. Nevertheless, I appreciate which ever way you decide and wish you the best with your trading. Thank you for keeping an open mind.

 

[Scataphagos]

I appreciate the consideration.

I thought about your offer and asked Wedbush about it. It would be "easy-peasy" to assign a new IB to the account and leave the money at Wedbush. But because Ironbeam is and will continue to be a "customer" of Wedbush, they said they "cannot make exceptions" in this transfer. Wedbush doesn't want to hurt anyone's feelings or jeopardize any business relationships for the convenience of one/a few customers. I understand. So... that's where we are.

 

[MattZ]

I thought about your offer and asked Wedbush about it. It would be "easy-peasy" to assign a new IB to the account and leave the money at Wedbush. But because Ironbeam is and will continue to be a "customer" of Wedbush, they said they "cannot make exceptions" in this transfer. Wedbush doesn't want to hurt anyone's feelings or jeopardize any business relationships for the convenience of one/a few customers. I understand. So... that's where we are.

I will PM you.

 

[CBC]

Not a big fan of Cannon.

There was a withdrawal that took 2 1/2 weeks, then their open e-cry / GAIN combo was a disaster. So many "platform errors" after 1 weeks trading.

 

[CannonTrading_Ilan]

Not a big fan of Cannon.

There was a withdrawal that took 2 1/2 weeks, then their open e-cry / GAIN combo was a disaster. So many "platform errors" after 1 weeks trading.

Please be specific and feel free to contact me with your account number so I can look into that.
If you have the margin available, withdraw would take a day at the most.

 

[CannonTrading_Ilan]

Talked to a different guy about avoiding the transfer to Ironbeam. Long story short, he said "Wedbush policy for this situation... no way of assigning a new IB to your account... your account cannot "stay" here at Wedbush".

I may end up at Wedbush yet, but I'll have to jump through hoops to keep the players happy, regardless.

For now I've chosen Dorman, but I'll keep you in mind.

We clear with Dorman as well as 5 other FCm's if you need any feedback or assistance.

 

[CannonTrading_Ilan]

I'm coming from just basic stocks although I do have some experience with futures. I'm a little overwhelmed by the options between brokers and platforms. I tried to set up a futures account with my current stock broker but the process has been a pain (to say the least), and I dislike thinkorswim (which is what they use). I'm not looking for anything elaborate. I just want a straighforward, easy to use and reliable platform. I don't really care about personal service or hand holding... I'm actually more comfortable with larger, more anonymous service. I've used Open E Cry and liked it.

The problem is a lot of these brokers their sites look kind of unprofessional, and I'm not very experienced with differentiating between scams and legit companies. For example, I looked at Cannon Trading but they seem like a small company that is somehow connected to e-futures.com (whatever that means?), and they seem to have a small staff despite supposedly being around since the 80's. The lack of significant online presence for an established company was also a red flag for me. When I looked at the google maps street view, there's a for lease sign on their building (probably a different suite, but still... there was no identifying info for them on the building). Probably just a bad coincidence, but gave be a shady vibe nonetheless. Any thoughts? Thanks.

I know i might be a bit late on this one....BUT yes we have a staff of about 10 and yes we have been around since the late 80's. Some of the power players in the industry started at Cannon and trained under me. I'm not sure what you mean about lack of online presence. If you search "discount future brokers" on google and see who comes on top, we are featured almost weekly on sites like "thestreet.com" and "equities.com" and "insidefutures.com." We were one of the first commodity firms to offer "online futures trading" in the industry and are still here in the same building in Beverly Hills overlooking the Hollywood sign - you are welcome to come in and visit us anytime in person. To comment on what you said, it has been a few years since we advertised on elitetrader.com

I appreciate the fact you considered us and hoping that you are trading well regardless if you are with cannon or any other broker. Trading futures is not an easy business...