They are going through a lot of transitions with the TDA integration, so they do have a reasonable “excuse” for all the problems of late. I started a thread about all the quote problems they are having, and emailed all the information to them. Before TDA I would have gotten a serious answer very quickly, and now they are so busy they just ignore a lot of things. But to be fair I am waiting until they have the integration behind them to see how things go – they say the quote server integration is supposed to happen by the end of the month. That last update they did changed something, I think for the better, but I am not sure yet.
It is hard to find a broker that has nice easy to use full featured software for futures, options, and stocks. My biggest problem now is they seem to want to get rid of futures and futures options traders. They have actually reduced what they offer and not added anything new, and have a lot higher than normal margin for many things. For example, they got rid of most weekly futures options, and now charge $12,000 margin for CL when the normal margin is $8438, which is 42% higher.
I do think TDA is trying to give special consideration for long time TOS account holders that are now TDA account holders. the call us legacy account holders. The Ninjatrader option would be a plus.
That would rock if they opened it up for futures trading. I suspect it's only for stocks though. Is it?
Supposedly TDA does have PM (portfolio margin) capabilities and TOS legacy account holders will continue to have PM, but nowhere on TDA's site does it remotely mention PM. On Friday I spoke to Scott Sheridan and ostensibly they will open new PM accounts in a ~ month from now after the integration completes.
I remain skeptical on the conservative Canadian bank, TD, to offer NEW people the chance for PM especially at the current equity requirement of $100K. Our friends north of the border revel in their fiscal conservatism and therefore legacy TOSers (including yours truly) remain hopeful such requirements will not change.
They are going through a lot of transitions with the TDA integration, so they do have a reasonable “excuse” for all the problems of late. I started a thread about all the quote problems they are having, and emailed all the information to them. Before TDA I would have gotten a serious answer very quickly, and now they are so busy they just ignore a lot of things. But to be fair I am waiting until they have the integration behind them to see how things go – they say the quote server integration is supposed to happen by the end of the month. That last update they did changed something, I think for the better, but I am not sure yet.
It is hard to find a broker that has nice easy to use full featured software for futures, options, and stocks. My biggest problem now is they seem to want to get rid of futures and futures options traders. They have actually reduced what they offer and not added anything new, and have a lot higher than normal margin for many things. For example, they got rid of most weekly futures options, and now charge $12,000 margin for CL when the normal margin is $8438, which is 42% higher.
Futures margin is going to be increased for former TOS customers or is that TDA's margin for their own original customers? I don't think they are increasing margin for TOS people or taking away any of the futures products TOS customers had. If I am wrong are they on record with this?
Futures margin is going to be increased for former TOS customers or is that TDA's margin for their own original customers? I don't think they are increasing margin for TOS people or taking away any of the futures products TOS customers had. If I am wrong are they on record with this?
I don’t think TDA had futures before they took over TOS, so what I am referring to is the combined company is charging everyone excessively high margins on some futures. Whoever is in charge of futures margins doesn’t know what they are doing. They randomly change things with no mathematical basis on some futures and then don’t raise others when they probably should. So basically your futures margin can change at random times for random reasons and the amount will be random, and they do it without any notification to anyone.
I don’t think TDA had futures before they took over TOS, so what I am referring to is the combined company is charging everyone excessively high margins on some futures. Whoever is in charge of futures margins doesn’t know what they are doing. They randomly change things with no mathematical basis on some futures and then don’t raise others when they probably should. So basically your futures margin can change at random times for random reasons and the amount will be random, and they do it without any notification to anyone.
Think maybe underlying cause may be with Penson. Rthetorical auestion: Where would Penson be if it didn't have TOS's future clearing?
