I am not being cynical I just need to hear the opinion of an actual user of the software. Do you feel X_trader is worth $650 per month? Does it make that much difference in your trading?
Good, though I am a small trader and they just increased my round turn from $5.90 to $7.90 (on June 1). One bad thing, if you hold positions overnight the computer doesn't know about it, so you have to keep track of your position manually.
Do you feel X_trader is worth $650 per month? It really depends on how you trade. If you are a speed freak scalper, it is a great platform. Best I've tried for that style. However if you trade off "long term" charts and take only a few trades a day, then I would say it isn't worth it. Does it make that much difference in your trading? I'm still debating that. I have been playing with various other platforms, trying to decide what is best for me. I've tried J-Trader, FFastTrade Pro, IB TWS, and now X_Trader. When placed side by side, X was always the fastest, but YMMV depending on network, etc. My order of preference between those, not withstanding any fees would be: 1. X_Trader 2. FFastTrade Pro 3. J-Trader 4. IB TWS But, they are all good in their own rights. The only reason I am looking at other platforms is the $650/mo fee for X_Trader.
Oops, what´s going on here ? $5.90 only some sort of "introductory offer" ? Did they give any reasons for raising commission by a whoppy $2.00 ?
Received an email from them today. Hi Brian, Advanced Futures is making some changes. We are in the process of adding FOREX and MANAGED FUTURES to the products we will be able to offer. The changes that are being made are due to the feedback we received from many of our traders. On your account xxx, on June 1 your account number will be changed to xxx. Your current round turn rate will be changed to $7.90. Advanced Futures will be able to offer you a minimum account size of $2,000. We will have $500 intraday margin. You will have a 24 hour order desk and a 24 hour tech(J-Trader) support desk. If you are not satisfied with the RCG account, Advanced Futures will be able to offer the same rate you currently have at our other clearing firm. You are welcome to call me anytime to discuss your account. Thank you, Mark Hyman Advanced Futures 954-603-0410 mhyman@advancedfutures.com www.advancedfutures.com RCG Accounts: 24 Hour Order desk 1-866-249-4582 24 Hour Tech desk 1-866-249-4581 Made some major changes in every area. Some areas are improvements such as 24 hour support which didnt' exist before. In other areas quota's are now imposed to get better rates. Have Forex now which for me isn't anything great since I don't trade currencies. My account number changed also which I don't understand why. Also small accounts pay higher commissions with lower margins, but active traders pay lower commissions with, get this much much higher margins. Go figure. There just another average broker now. Oh well was looking for a broker when I found them. Guess I'm back to looking around again Bsulli
The changes that are being made are due to the feedback we received from many of our traders. I can't imagine how traders bombard Advanced Futures with emails asking to raise their commissions.
I don't know anything about those changes, but they might be as much, if not completely related to the clearing firm as opposed to AF's design. AF is an introducing broker. If the clearing firm holding the account changes the rules, then I doubt there is much AF can do about it other than to go with the flow or offer a different clearing firm (which they seem to have done as an option).
They have always had two clearing firms and I have always had good service from them either by phone or email. fwiw More than likely at the lower commissions structure being a smaller IB they couldn't make enough to keep the place running. I had that happen at a small broker in Dallas back when I traded equities. They raised rates because there overall volume had dropped and they couldn't cover their overhead. It was getting really tough for the owner to make his BMW payments. They finally sold out to TerraNova. Good luck and good trading. Bsulli
Could the reason they raised your commission rates be that you don't maintain the minimum balance of 10K in your account. According to their website, the commission for traders with a 10K account is $5.90 and traders with a 2K account is $7.90. I also noticed that traders with 20K can use xtrader and pay only $3.90 for commissions. The reason that I'm asking is that I am currently shopping around for a great commission/great platform combo.
Can't speak about small account traders but mine is well above all of the reqired size amounts. My comission is 7.90 now because of the quota level, 500 trades per month. I average around 200-300 trades. In the past there was no quota levels. To the X_Trader being 650.00 monthly to get the 3.90 commission there is one sponsor of ET that about the same for the commission but only 550.00 for the X_trader. To a point I made in an earlier post they are a good broker in the area of support and service and responding to emails. If the standard commission rates are inline with expectations then I can recommend them. Good day. Bsulli