Website https://www.jellifin.com/ describes "No commissions. Period."
It is unclear when accounts can be opened for real ...
It is unclear when accounts can be opened for real ...
thoughts on Jellifin?
- Thread starter trader42
- Start date
It is suspect. Source code of the page reveals the following in a comment section...
"<!-- This is Squarespace. --><!-- andre-norman-wgna -->"
It may mean nothing. Just use caution. Sniff-test is off regarding it.
it is the real world out there. people don't work for nothing. if commissions are zero you are going to have lousy executions. lousy executions are going to cost you a lot more than paying a few pennies commission per trade in return for superior routing of your trades
get real.
Robinhood's last round of funding gave it over a $Billion dollar value. Trading for free doesn't mean people aren't getting paid. I doubt Jellfin can pull it off under the current market model - still a ton of payment in options. Stiff fees in SPX,NDX,VIX and few other names. Remember Optionhouse's initial pricing was capped and they just got pounded by big SPX and VIX trades and their pricing changed.
Jellfin says first 30 contracts are free and then charges hit.
Free trading is coming if and when some real yield returns.
Jellfin says first 30 contracts are free and then charges hit.
Free trading is coming if and when some real yield returns.
Likey never. The owner of Jellifin.com is Andre Norman. He lives in Gainesville, FL. He holds NO securities industry license. He is NOT registered with the Florida Department of Financial Services, he has no corporate filings on Record at the Florida Secretary of State, he has NO filings on record, either as an individual or business (e.g. Jellifin) at the Federal level including the SEC, CFTC, NFA, FINRA, etc. Run his name through BrokerCheck and nothing comes up. His website is registered with WHOIS/ICANN as being on a godaddy.com server. His website has no "about" or "contact" links. Only a place to enter your email address. He is PHISHING. He is a fraud. He needs money. A check of the Alachua County Clerk of The Court website for civil and criminal activity on Mr. Norman reveals a number of findings including lawsuit by American Express against Mr. Norman for not paying his American Express bill.
His Linkedin, Twitter and Facebook pages also say the same thing. I.e. No fees to trade options. And, as is the case with his website, no way to contact hime or to verify his credentials. he's a fraud.
I advise anyone who is reading this to NOT put their email address into his website. He's a fraud.
I will be sending the FL Dept. of Financial Services a complaint later today. Ditto the SEC and FINRA.
Best
S. Leeds
Federal Investigator (Ret.)
FL Licensed Private Investigator (Current.)
Specializing in financial fraud and due diligence business investigations
Thank you for looking into this.
Hi this is Andre, owner of Jellifin here. Thanks for your splendid investigative work. Let me set the record straight:
1. We are not a licensed broker-dealer yet as stated plenty of times on the Reddit thread, "COMING SOON or Beta Testers" We are wrapping up on the FINRA certification process which was applied to back in January. See attached image. The process with FINRA can take up to 180 or more. So yes you and I are patiently waiting for the same outcome.
2. We are not registered in the state of FL because...we are incorporated in the state of Delaware as any smart tech company would do in 2017. Again see image.
3. Yes I racked up my Amex bill because at age 25 I quit my Engineering job and founded a restaurant Cheese Daddy with a staff of 15 employees all of which were counting on me for a paycheck to pay their rent and feed their kids. While the business was struggling, instead of firing my staff, I maxed out my Amex, took on a second job and worked from 6:30AM to 3AM most days to keep the lights on and pay my staff. All this time I did not take single dime to pay myself.
4. Eventually the restaurant failed and I was stuck with the left over bills. I was sued by Amex and have since then settle with the company. I took full responsibility for what I did and to this day I would have done the same thing again if it means looking out for my staff and the people I care about. So please let me know when was the last time you had to make such a tough personal decision about a business and your team that worked so hard to see the business succeed? No need to share here. You can always reach out to me at support@jellifin.com
5. I have a degree in Mechanical Engineering, I could of went the traditional route and worked my way up the corporate ladder, but instead I chose to be an entrepreneur. I started the restaurant when I was 25, grew it to three locations. We failed, I picked myself up and have moved on. Now I'm 29 and I'm working with a team of 6 to bring free options trading to the mass. It is our passion to see this succeed and we will do whatever it takes to get there.
Thanks, I hope this clears the air.
Attachments
https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx shows some details on jellifin
PS Nice disclaimer on the site:
"To ensure everyone using the Division of Corporations search tools has the best experience possible, the Division strongly discourages the use of automated tools to search or mine data. We also discourage excessive and repeated searches that may have a negative impact on our systems and customer experience. Failure to use these tools in a responsible manner may result in the suspension of your access to utilize this service."