What has been your experiences with DeepDiscountingTrading?

DeepStar

DeepStar

Hi there,
I'm new to the forum, I was doing some research on DeepDiscountingTrading with Howard Lender yesterday and I saw reviews that were written here a few years old(surprisingly only on this forum) that came up in my internet searches.

I actually spoke with Howard today, awesome guy, I know the service of clients is not lacking at all!!

But, What has been your current updated experiences been thus far with technology, accounting, withdrawals etc. or any issues that have come up? I checked with the NFA filings, etc and been doing my due diligence best as I can and would like your input?

Also, has anybody traded hedged options strategies like selling Credit Spreads, Butterflies, etc with them, besides futures trading. What has been your experiences been?

I thank you for the input and help, Thanks very much! Cheers

P.
 
DeepStar said:
Hi there,
I'm new to the forum, I was doing some research on DeepDiscountingTrading with Howard Lender yesterday and I saw reviews that were written here a few years old(surprisingly only on this forum) that came up in my internet searches.

I actually spoke with Howard today, awesome guy, I know the service of clients is not lacking at all!!

But, What has been your current updated experiences been thus far with technology, accounting, withdrawals etc. or any issues that have come up? I checked with the NFA filings, etc and been doing my due diligence best as I can and would like your input?

Also, has anybody traded hedged options strategies like selling Credit Spreads, Butterflies, etc with them, besides futures trading. What has been your experiences been?

I thank you for the input and help, Thanks very much! Cheers

P.
More...

Great to see you have done your own due dilligence, i can honestly say i didnt even take the time to do half of what you did, with that said sorry i dont know about deepdiscountingtrading, but the name sounds pretty pumpy/scammy, like pump and dump scammers always seem to have naames that are very similar, Might just be they are terrible at marketing though.
 
I used to have an account with Howard and DDT. They cleared through Wedbush. Then one day I got a notice that "all of DDT's accounts would be switching to IronBeam". When I called to ask about it, neither Howard nor Wedbush would give an explanation. So I moved my account elsewhere. (I've had accounts at FCMs which had financial difficulties... Chicago Grain, Refco, MF Global, others. I value stronger financials over a few pennies cheaper commissions. I don't mean to infer anything negative about DDT or IronBeam... but when there are legitimate questions about the custody of your funds, you deserve answers.)

Financial Data for FCMs... if interested

http://www.cftc.gov/MarketReports/financialfcmdata/index.htm
 
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I was with Crossland LLC and DDT was an introducing broker to Crossland at the time( then Crossland got bought by Wedbush ). Heard good things about them. Some people were telling me I would get a better service dealing with DDT instead of directly with the FCM...
 
Tradator, a non US based poster here recently wrote about his communications with DDT, and copied an email he had received. It appeared DDT was difficult for overseas traders, there were plenty of conditions to be filled from memory, and selling naked was close to impossible, which was different from what I read a couple of years earlier.
The thread can't be too hard to find for those interested btw.
 
You may want to do more due diligence on deepdiscounttrading. I've never traded with them but you may want to take a look at more credible brokers who have been around for a longer time? Just my opinion. I've traded with IB and Cannon Trading. IB is pretty big and I know they do a good job. I know Cannon Trading has been around since the 1980s so you may want to check them out as well.
 
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