Refco Cancelling Prop Trader

Discussion in 'Index Futures' started by cgjung, Jun 8, 2002.

  1. cgjung


    These guys are a joke.

    Spent 2 months dealing with their lousing firm to get an account open and now their canceling prop trader at the end of the month.

    Any suggestions on where I should transfer my traders account. Need the low 5.50 RT and lower cost with a nice platform.

  2. spectre


    If you were using Prop trader, I assume you are looking for an alternative platform for electronic contracts. Have a look at Interactive Brokers as your primary platform. Aimed at self reliant traders, good executions, and cheap. Have a few quips about system downtime, but no firm is immune to this. Think about setting stops. You might also want to consider maintaining a secondary account on a separate platform at a different firm in the event you are unable to enter an order at IB. Could look at Man Financial (call in orders + access to non electronic markets), though commissions are considerably more. They use J-trader (same as Prop trader) as well as a browser based order entry system.
  3. artguy

    artguy Guest

    J-Trader is the same as Prop-Trader. Make sure you get the DOME feature included because my last broker charged $50 for it.
  4. tradex21


    IB is the logical route but their downtime and other assorted glitches lately is so bad that I am now literally placing stops before I place the primary order.(Dangerous also because your stop could get filled without you getting the primary order placed if they freeze up). I have heard a lot of talk lately about Ffastrade and TradeTechnologies but am not sure if, who, or what their broker links are.(Are these brokerages also?) Would like to know.
  5. TGregg


    Not sure if this is what you refer, but here's the link:

    <a href="">Ffastrade</a>

    I couldn't find anything on TradeTechnologies.
  7. IB outage not so bad. IMO. best bang for the buck.
  8. Woody


    I think that you are mistaken about Refco shutting down the prop trader platform. They are shutting down the Refco electronic (formerly PMBe) platform. Take a look at and read the first paragraph.