Thank you all for posting your experiences. Please keep posting . Also have you any information about their clearing company - Soutwest Securities (SWS) ? I saw that whole account is arranged by this company , so can somebody tell something about SWS ? Richard
That could explain why someone was having problems with account balances, positions, etc. (I don't know if this is a recurring problem at PD or not). A couple years ago, I traded with a broker that cleared through SWS. There were constant problems of this type, and it was ultimately the reason I switched to another broker.
IMO, Poindirex as a broker is great, great customer service and friendly people, good platform, low per share pricing. But the overall service quality is completely messed up by SWS... Even the SIPC statements are erroneous ! OHLC
I talked to PD this morning, everything has been corrected. They post new statement after 9:00 am. Not early enough for me, so they are giving me access to Southwest direct. Customer service very helpful. As they say in Mandaville, every ting irie. xstek
I downloaded the demo last december....it seemed to have too many bugs. They said they were working on it. I'm gonna wait, I've experimented with too many platforms that were sub par. I look at it like this. If a company wants my business they have to be top notch... second place is no good.
"IMO, Poindirex as a broker is great, great customer service and friendly people, good platform, low per share pricing. But the overall service quality is completely messed up by SWS... Even the SIPC statements are erroneous !" -------------------------------------------------------------- Well I'd have to agree that SWS may be the problem. I'm actually getting annoyed at the fact that I can't ever look at the online account info. page and compare my trading log against theirs. 9 times out of 10 my account is all zeros for balances and only shows positions open or closed for a given day. Intra-day buying power hasn't consistantly been updating as I close positions either. Granted one phone call and they fix it within minutes but by then I can miss a good setup opportunity. The extended hours trading plain doesn't work. They tell me it is available for level I but I have NEVER had an execution. I've traded for a while and occasionally closed a position in AH or Pre-market for whatever reason before (at another broker) and I know when I should have been filled. Watching an active stock in AH march right through my limit orders over and over isn't "working" in my book. No one at PD can explain this to me. The bid/ask gets frozen occasionally on the platform during the afternoon (but the time&Sales keep moving, odd?) but I use NexTrend for my tracking and can tolerate a little fussiness there with PDs quotes as it is short lived problem. The last straw for this few weeks with PD is my 3 unanswered emails noting all of the above. All I was asking was are these issues being worked on and what is the timetable. NO reply for 7 days. This is why I said earlier in this thread that I'd wait before posting a review in the "brokers" section at Elite. Never make a snap judgement whether good or bad. I'll see how this plays out but am considering moving my account now. I'm getting more interested in futures trading lately anyway. Have a good weekend all.
NiteRider I personally, would like too thank you very much for following up on your word, about this company Point Direx. I know there are many at ET who will appreciate this first hand information. And we thank you for your time. Good luck in your futures trading, as we all know, where not really relining on the Luck part thou. good trading my friend. perr PS And company's like this become bewildered why their not successfully.
I'm able to view my account info the following day, which is fine by me, but I don't like the lack of detail in the trades data...specifically the route used. Yeah, that's no good. Platinum AH works but they close @ 5:30 EST. No good again. It seems several people were out of the office last week and I noticed the main number was occasionally answered by a machine. I was able to get through to the trading desk though with no problems. IMO, improved employee scheduling and/or another body or two to help out 'round there would be better for their image and business/service while they try to grow. I like the PD execution, speed and cost. So far I've been able to get assistance when needed. They need to address the SWS issues. Compared to TS, PD is cheaper when predominately using ISLD (and TS may be suffering some growing pains too). IB seems to have it's fair share of problems with customer service and stable connections but they're still on my list. I'd like to see PD continue to improve. We'll see... Mike
Hey Mike I totally agree with your point's. That's exactly why I was following NiteRider. I like Point Direx execution and cost , from what I here on ET. Speed and Cost is very important . So far I've been sitting here just waiting to open an Account . I'd like to see PD continue to improve also. perr
I see what you guys are saying about not answering e- mails. They answered them all until the acct. was opened, then your own your own. I couldn't get them to respond to simple questions. I love the software, the speed and the price. I also noticed that the daily acct. balance, as well as the printable reports do not reflect the ecn fees or the sec. fees. Maybe I'm missing something. Hopefully at the end of the month the statement will show all the ecn fees. Actually your current buying power is less then what it says because they are not deducting these fees. I heard that you could view your acct. info off the Southwest site. Anyone else hear about this? So far nothing can touch the old MB trading. You get what you pay for.