Bad experience at Transact Futures

Discussion in 'Retail Brokers' started by imsodead1986, Apr 25, 2008.

  1. Hi guys,
    after reading all the great reviews about transact futures, I recently opened an account last week at transact futures through an online application and submitted all the relevant documents such as my passport and Identification card.

    Everything was going on well when some guy from transact futures contacted me via email to clarify whether I was signing up for a account through an introducing borker. I told him that I went through and linked up through their website to sign up for an account at transact. That was the last I heard from him.

    Till now, after like 1 week and a half, I have no news whatsoever of whether my account has been approved. I have tried emailing them numerous times and the guy who contacted me but they refuse to reply me. They even had my email address blocked and I was unable to contact them which leaves me disgusted at how horrible their customer service is.

    I must say that when I opened an account MF Global, I never had to experience such terrible customer service and my account was up and running in a week.

    I was wondering whether you guys have had a similar experience at transact and whether you guys have any advice on how should I proceed? Thanks a million!
  2. I have had problems with TransAct responding to e-mail, but overall good exp. with them. Just call them htm or call the IB that you are going through. They are good about answering in less than 3 rings during trading hours. As an alternative you could go through ProActive Futures, whom I use, or Infinity as an alt. to your IB.
  3. Hi dandxg,
    thanks so much for your reply. I will take note of proactive futures. By the way, what is the margin schedule like for eminis at proactive as I can't seem to find it on their website?

    Thansk and Regards,
  4. It's generally speaking $500 USD for eminis or I believe they generally use 1/4 or intial margin for the exchange. Ask proactive though as I don't work for them.

    The only problem I have heard recently with Inifinity is the TransAct is all they offer for futures, atleast that is what I was told by a friend. So if for some reason you want to try something else SOL.
  5. Wow.

    You can also try Global Futures. They have decent commisions, are friendly and accepting of the newer traders.

    I'm sorry for your bad experience. I would say "f*ck them" and move on ...
  6. rover


    i would guess your problem lies with gotrade rather than Transact. gotrade should have been all over it
  7. TA has a very nice sale's rep, contact him directly if you wish but be wary of the TA's platform which is full of major BUGS that completely messes up your MM and they are very untruthful by insisting to deny the existence of the BUGS despite solid evidence!