transeact used to give great customer service - I had problems with Trademaven and transact today - anyone have problems using the transact software itself
Problems with Transact Today?
- Thread starter wareco
- Start date
Global Futures Exchange & Trading Company seems shady to me. i requested a commission rate for a specific monthly volume and was told by a broker there that he could offer 50 cents higher for now and then after he sees me trade the volume, he can lower it to the desired rate. Later on, after I said that the terms they presented were unacceptable, I was told that the requested rate was too low and that the firm would not be able to offer me the desired rate. So, what this tells me is that when they said "50 cents higher now and then later we'll lower it to your desired rate" they were telling me anything I wanted to hear so that I would just open the account. This experience coupled with the fact that they were fined $10,000 in the year 2000 by the CFTC for "CHEATING OR DEFRAUDING ANOTHER PERSON" among other improprieties (http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0289721&case=00-14&contrib=CFTC) has led me to go with Lind-Waldock, a division of MAN Financial, instead.
As regards openEcry, their data feed is damn slow. Just compare the DOM price movements with X_TRADER and you will see that there is often more than a 1-second difference in favor of X_TRADER. So the market you see is often 1 second or more behind actual market prices. That shouldn't be a problem if you are a position trader who holds positions for days or longer. But for the daytrader, this is a serious problem which most definitely will affect the bottom line.
For anyone interested, here is a website you can go to to check out the background of Futures Trading Firms registered with the NFA:
http://www.nfa.futures.org/basicnet/
http://www.nfa.futures.org/basicnet/
I'm sorry but this is what I noticed in my own experiment. Maybe it was less than 1 second. However, the fact is that there is definitely a lag. for position traders, this is not necessarily a problem; but intraday traders are at a severe disadvantage, in my opinion
Thank you very much livermorerisen. Good Info. I have already open the account with open cry but I will keep in my mind about latency.
You are 100% correct about Transact. Their customer service is still good but the problem is in the server. Everyday crashing is costing too much to day traders. It has same problem with using their own platform too.
I think it is time to change servers if they can afford it.
no probelm - thanx for the feedback - and I aslo agree with you about open acry - I traded with them a little while ago, before going to transact and their datafeed is indeed slow -
transact is unacceptable with there problems. so who's about $4 r/t for the es with minimial vol?
This was probably the demo feed your were comparing.
As regards openEcry, their data feed is damn slow. Just compare the DOM price movements with X_TRADER and you will see that there is often more than a 1-second difference in favor of X_TRADER. So the market you see is often 1 second or more behind actual market prices. That shouldn't be a problem if you are a position trader who holds positions for days or longer. But for the daytrader, this is a serious problem which most definitely will affect the bottom line.
As regards openEcry, their data feed is damn slow. Just compare the DOM price movements with X_TRADER and you will see that there is often more than a 1-second difference in favor of X_TRADER. So the market you see is often 1 second or more behind actual market prices. That shouldn't be a problem if you are a position trader who holds positions for days or longer. But for the daytrader, this is a serious problem which most definitely will affect the bottom line.