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AAAintheBeltway

Registered: Oct 2001
Posts: 14599

08-13-12 03:15 PM

OK, thanks. I did look it up and found that. I used penson years ago and hated them. So apex is not run by penson?

Wouldn't wedbush be preferable though?

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1245

Registered: May 2012
Posts: 547

08-13-12 03:58 PM

Quote from AAAintheBeltway:

OK, thanks. I did look it up and found that. I used penson years ago and hated them. So apex is not run by penson?

Wouldn't wedbush be preferable though?

I don't know enough about your business to determine which broker would be better for you. I have no issues with Apex for CPM. They are more liberal than ANY other broker with regard to risk, and currently they are stable.

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high99

Registered: Jun 2002
Posts: 252

08-13-12 05:09 PM

Quote from AAAintheBeltway:

OK, thanks. I did look it up and found that. I used penson years ago and hated them. So apex is not run by penson?

Wouldn't wedbush be preferable though?

"You" used Penson years ago and hated them? "You" typically do not have a choice for your clearing firm. Your broker has that relationship. I have been with MB Trading for 12 years and never had one problem with Penson holding my funds.

Penson never had a trading desk so that is not relevant.

The Penson clearing section was spun off and is now known as Apex. Same address in Texas. Same people. Same desks and equipment. Simply no more worries about the old Penson and the racetrack problem.

Chill out. All is well.

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AAAintheBeltway

Registered: Oct 2001
Posts: 14599

08-13-12 08:21 PM

Quote from high99:

"You" used Penson years ago and hated them? "You" typically do not have a choice for your clearing firm. Your broker has that relationship. I have been with MB Trading for 12 years and never had one problem with Penson holding my funds.

Penson never had a trading desk so that is not relevant.

The Penson clearing section was spun off and is now known as Apex. Same address in Texas. Same people. Same desks and equipment. Simply no more worries about the old Penson and the racetrack problem.

Chill out. All is well.

That's what I was afraid of. Same firm, different name.

If you cleared through a better firm, you would know the difference. It's not a matter of holding your funds. Anyone, short of MF Global, can do that. After all, they're insured. LOL.

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high99

Registered: Jun 2002
Posts: 252

08-13-12 09:27 PM

You need to dig a little deeper and research this out. Rather than simply post on a anonymous website. It is not the same firm. But since you have already made up your mind, why waste more time debating this. Means nothing to me.

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chictrader

Registered: Dec 2005
Posts: 51

09-05-12 07:38 PM

I was told that Cobra Trading has left Apex and now clears Wedbush.

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