OptionsXpress f*cking me for over 50K

No updates. They still refuse to accept any responsibility. I am talking with lawyers to decide the next step. If I start a lawsuit, I may not be able to share much here until it is over, but I will try my best.

I have gotten pm's from a bunch of people who have also had problems there, so I know that I am not alone.
 
I agree, I have some problems with them too. The noise is good. If anybody knows another places with people raising same problems with this "Broker?" I would appreciate the URLs. Good luck to everybody in our position with this Corporation or another irresponsible one.

Thanks.
 
Here is my two cents worth:

I'm fairly new to this business but am amazed at the knowledge of the details of this process expressed by ET members here.

Secondly, am amazed by the versatility of this board and the way by posting documents that experienced members can verify the TRUTH of allegations made.

I say that if this really happened(which I think some of you experienced members can EASILY verify through this site and private mail if necessary) then CONCERNED MEMBERS OF THIS BOARD SHOULD JUMP ALL OVER THIS AND WITHIN A WEEK HAVE A LIST OF ABOUT TWENTY OPTIONS EXPRESS ACCOUNT HOLDERS WHO ARE ALL COLLECTIVELY AND AT THE SAME VERY MOMENT SAYING WE ARE ALL CANCELLING ARE TRADING ACCOUNTS AT THE SAME TIME IF THUS AND SUCH DOESN't HAPPEN RIGHT AWAY.

IMHO if this can start happening where the broker can decide where and when a cancellation notification sticks then NONE OF US HAS A VIABLE LONG TERM COMPUTER BUSINESS SUCCESSFUL OR NOT

If this poor trader has to go the lawyer route to solve this they will get him for at least 10K in the long run and they know this. This is why the broker is bullying him b/c they know the legal process is a losing proposition financially for the trader whether he wins or not.

Say your an otions express customer right now and you've had a hELL of a good year making a good living and no problems............can you really continue knowing this has the potential of wipeing you out at any moment...........I DONT THINK SO.

If this site has any function/any power for its members then this is the time BEFORE the OP gets set up with the lawyers to BUST this case. I guarantee that the lawyers will lead him on initially encouraging him that he has a case and then just milking the process along until he gains nothing by winning the case against the broker after 4 months have passed.

Of course, the validity of the OP allegations must be verified by posting the documents on this board.
 
Well, here is one person who is looking for another broker and NOT picking them. But I was as suprised as Don Bright and have now learned that OX is not direct access.
 
Quote from torontoman:

Well, here is one person who is looking for another broker and NOT picking them. But I was as suprised as Don Bright and have now learned that OX is not direct access.
More...

So is Tradestation direct access - they clear trades thru RJO just like OX?
 
Count me and a very good friend as folks who are also torked at the growing number of problems evident in the OXPS futures trading environment over the recent weeks....despite being very impressed with their suite of product offerings, clean (crossplatform) user interface and outstanding customer service, we are getting close to the point where it'll be necessary to explore alternative brokers for futures trading due to increasing numbers of problems with their futures trading environment.

My friend penned a lengthy letter to them last week outlining his various concerns from 75+ minute executions on a single ES contract to website performance issues to problematic charting. I support his concerns and have experienced identical problems with OXPS in the past several weeks. During the fall, futures trading was perfect --- but since mid December, the problems have cropped up with increasing frequency.

As I emailed their VP of Customer Service this morning: "Despite the amazing customer service you've offered when I've encountered technical or trading problems, I must confess that at the moment, I am becoming increasingly afraid to actively trade futures here -- not because I might lose money because of poor trade planning on my part, but because I'm worried that what should be a reliable futures trading environment is going to work against me. (I don't want to spend more time troubleshooting problems than trading!)"

Of course, there's the possibility that OXPS isn't looking to be an active futures trading broker like TS, IB, or others -- and if so, I understand how such quirks might be problematic to active traders but perhaps of little worry to longer-term investors. Just feels a bit like the OXPS futures trading environment is underperforming for active trading needs. That said, I have plenty of GOOD things to say about them in other areas, but at the moment, these problems are fundamentally detrimental to successful futures trading.

So there's my 2 cents....
 
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