OptionsXpress Watch Out

Discussion in 'Trading Software' started by termn8er, Mar 9, 2012.

  1. termn8er


    Recently I read an article from someone who has a day trading system for options and he uses OptionsXpress. Many folks asked about using TOS instead. His reply is that he has not found another platform that had the same signals.

    I found this very odd, since all of the data comes from the same exchanges. Also all of the indicators are public domain, so within reason, every platform should be about the same.

    What I found by looking into OptionsXpress is that they are using the wrong formula for their IMI indicator and MFI is totally screwed up. As a matter of fact on their basic charts MFI shows negative values and changes if you change how many days you look at which makes no sense. The basic platform doesn't match their streaming platform either.

    The biggest issue I have is that after reporting this, they have done nothing. I only looked into two indicators and both are wrong, yet no one seems to care. You would never see this happen at TOS (at least when Tom ran things).

    So I recommend everyone stay away from OptionsXpress. Clearly they take no pride in quality control and providing accurate data to their clients!!!
  2. Don't use silly retail software

    get ninja trader or something similar

    no java bs aka TWS, ETRADE.