Why would these traders who are having a hard time use the firms who don't SELFCLEAR.I can't understand it i have heard all the crap they try and pitch yea well we have a great system,we have the best traders,oh and yes it's the fastest.Are people that stupid?These firms don't give out accounts they want a deposit!Why would they go and trade at them?In the end with this market only 3 or 4 firms will be left get in while you can the middle man will be ancient history..
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Why would someone use the Middle Man firm?
- Thread starter traderpro
- Start date
exactly. do your homework before joining any firm.
Quote from traderpro:
Why would these traders who are having a hard time use the firms who don't SELFCLEAR.I can't understand it i have heard all the crap they try and pitch yea well we have a great system,we have the best traders,oh and yes it's the fastest.Are people that stupid?These firms don't give out accounts they want a deposit!Why would they go and trade at them?In the end with this market only 3 or 4 firms will be left get in while you can the middle man will be ancient history..
If you are talking about futures industry introducing brokers, people use them when they have small accounts. IB's will usually service small accounts better, and can often equal the price an FCM will give small accounts (the IB gets a lower rate and then marks up the cost). I personally don't use IB's, but I have before with good results (and bad depending on the company).
Jay
Quote from traderpro:
Why would these traders who are having a hard time use the firms who don't SELFCLEAR.I can't understand it i have heard all the crap they try and pitch yea well we have a great system,we have the best traders,oh and yes it's the fastest.Are people that stupid?These firms don't give out accounts they want a deposit!Why would they go and trade at them?In the end with this market only 3 or 4 firms will be left get in while you can the middle man will be ancient history..
WHy don;t you tell us????????
Quote from NYSE Trader:
exactly. do your homework before joining any firm.
Very true and make sure you use a clearing firm that is diversified, solid and has been doing clearing for many years....some firms went self clearing only because they had some daytrading volume...now they are precariously close to the edge because as volume dries up they only know daytrading...they are force to hang around trading rooms trying to recruit traders instead of getting b/d correspondents like most clearing firms do. stick with a firm that 1) has retail brokers, mutual funds, online trading, bonds, ect.. this way they are not a one trick pony . 2) Any firm that is self clearing only for daytrading should be watched carefully especially if you are opening a branch or hiring traders, because although they are your clearing firm, they are also your competition, I personally would be careful to avoid any clearing firm that pushes its own software...it becomes a conflict down the road.
Quote from TM_Direct:
Very true and make sure you use a clearing firm that is diversified, solid and has been doing clearing for many years....some firms went self clearing only because they had some daytrading volume...now they are precariously close to the edge because as volume dries up they only know daytrading...they are force to hang around trading rooms trying to recruit traders instead of getting b/d correspondents like most clearing firms do.
You must be talking about bendover.....I mean Andover
looks like the middle man firm has sent out it's employees to bash the chat.Bendover is funny i dont trade there .But why would they go and pay such a higher fees.The best one i heard so far is sonic over your $..That is the biggest chop shop i know of.So manny traders have left that firm and had nothing good to say about THEM!