Originally Posted by zlmtb
I called Advantage today. They said they will honor existing commission structure, intraday margins, and platform fees.
I also called Advantage today, and spoke with Mike O'Malley. I asked about all those things, but he was not straightforward about what the intraday margins would be. He gave me a short speech on risk and mentioned only being able to offer something like 2:1 or 3:1 intraday margins (I assume that means from overnight rate?). Mike said they might be able to go down to $1,500 or $1,000 per contract for ES intraday, but they cannot match the $500 that Velocity, excuse me - ILQ, provides. He also mentioned that the $10k account minimum is required, and you need to maintain at least $5k balance to keep your account active. I use Ninja with Continuum, which he said they would be able to accommodate, and that the $10 monthly Continuum exchange fee would likely be put on hold for a few months. I will need to follow up tomorrow to ask again again about the intraday margins, as I assume they are still working out the details.