Lightspeed acquires Terra Nova

Discussion in 'Retail Brokers' started by chictrader, Jun 16, 2010.

  1. LEAPup

    LEAPup

    Hey, Gordon Gekko uses Lightspeed. Wonder how much they paid to be in the new movie? Lol!

    And, NO I'm not an IB fan. I've also been looking at Lightspeed.
     
    #11     Sep 28, 2010
  2. You're annoyed they won't let you trade no-money-down? Or am I missing something?
     
    #12     Sep 28, 2010
  3. da-net

    da-net

    "no money down"...i'm not sure how you arrive at that

    this was a short sale of a stock in a downtrend, eventually delisted....as a short sale i received a credit into my account...the amount of cash deposit penson wanted was a multiple of the 2 year stock high at the time...i had more than enough cash and cleared securities with penson to cover

    the head trader of rushtrade, mark who was also their compliance officer felt that the account was acceptable to rushtrade's, nasd and sec rules as he personally stated so.

    IF the trade had gone against me drastically, it could have been closed out and my cleared securities could have been sold with or without my permission to cover on the same day and both would have settled @ T+3 or T+7 whatever it was at the time

    i was not annoyed about the trade, i was angry at penson for having rules that neither i, mark or rushtrade was aware of; however we had to comply with those rules without any knowledge of what those rules were and then penson refused to disclose those rules to me....would you be angry under those conditions? would you want to do business with them under these conditions?
     
    #13     Sep 28, 2010
  4. I've never tried to fund a trading account without any cash, so I can't speak to what my frame of mind would be.
     
    #14     Sep 28, 2010
  5. any realtick users getting an error message saying account closed in 2 days?
     
    #15     Nov 28, 2010