RJO Vantage - How is it?

ace-xyz · Aug 11, 2009

I am a beginner interested in trading CME financial products. I am considering Advanatage and RJO to open an account with.

Advantage has low commission rates but doesn't offer any free platform. Rates offered by RJO are high in comparison to Advantage but it does offer a free platform called RJO Vantage and doesn't charge anything for real time quotes and charts. Is anyone here using RJO Vantage? If yes, could you please tell me your experience with it? Even if you are not using this particular platform but know how it is, your reply would be greatly appreciated.

Thanks!

ace-xyz · Aug 12, 2009

I know there are many RJO fans here but is no one using RJO Vantage? I wish to subscribe to this platform but would like to hear about few experiences first. Does anyone here recommend this platform for trading CME Futures?

Thanks!

brocklanders · Aug 12, 2009

I didn't care for it at all but it was better than their earlier platform. They still seem to be playing catch up with IB TWS and that is not good. TWS has problems but once you find a stable version it is good enough. I found RJO's commissions to be quite high also. You would be better going with IB or maybe OEC for better software and commissions.

ace-xyz · Aug 12, 2009

Quote from brocklanders:

I didn't care for it at all but it was better than their earlier platform. They still seem to be playing catch up with IB TWS and that is not good. TWS has problems but once you find a stable version it is good enough. I found RJO's commissions to be quite high also. You would be better going with IB or maybe OEC for better software and commissions.
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Thanks for your reply Brocklanders! A few more questions:

1. What you didn't like about RJO Vantage?

2. Would you recommend it for a beginner trader? All I want to do right now is test my strategies in the live market. I know paying high commission at this stage wouldn't make much sense to a lot of traders, but:
- I want to open an account with a FCM who is also a clearing member.
- I don't want to pay for expensive data feed and charts right now.
- I don't want to go to an IB.

brocklanders · Aug 12, 2009

It was awhile ago that I used it but I never liked the UI and I don't remember them having as many complex order types/functionality as IB. I tried to use it for awhile but got fed up with it finally and was not willing to pay more for less.

new$ · Aug 12, 2009

Canât speak for Vantage-probably goes through brokerâs screen. A couple years ago I was trying CL and its options with RJO and was ahead on calls. I called the broker about 10:30 to close out and he wouldnât answer the phone-I finally got through about 45mins before closing on another phone and he said ok and would call me back with the numbers. About 5:00 I called again and he said it was sold at a loss.
I think things are different now on crude options- you can see a price on your screen.

I would be sure how many screens are between yours and the exchanges and be aware that commodities arenât as polished as stocks. Yet !

ace-xyz · Aug 12, 2009

Quote from new$:

Canât speak for Vantage-probably goes through brokerâs screen. A couple years ago I was trying CL and its options with RJO and was ahead on calls. I called the broker about 10:30 to close out and he wouldnât answer the phone-I finally got through about 45mins before closing on another phone and he said ok and would call me back with the numbers. About 5:00 I called again and he said it was sold at a loss.
I think things are different now on crude options- you can see a price on your screen.

I would be sure how many screens are between yours and the exchanges and be aware that commodities arenât as polished as stocks. Yet !
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News!....could you please explain what do you mean by, "probably goes through broker's screen"? I am a beginner and still have to learn a lot of things. Thanks!

ace-xyz · Aug 12, 2009

Quote from brocklanders:

It was awhile ago that I used it but I never liked the UI and I don't remember them having as many complex order types/functionality as IB. I tried to use it for awhile but got fed up with it finally and was not willing to pay more for less.
More...

What is "UI" Brocklanders? Thanks!

brocklanders · Aug 12, 2009

User Interface. If you try the software and it works for you then great. I think the only reason to go with RJO Vantage versus other electronic platforms is if you need more personalized broker assistance. If you have already gone through all the paperwork at RJO then you might as well give it a try, otherwise there are better alternatives out there in my opinion.

ace-xyz · Aug 12, 2009

Quote from brocklanders:

User Interface. If you try the software and it works for you then great. I think the only reason to go with RJO Vantage versus other electronic platforms is if you need more personalized broker assistance. If you have already gone through all the paperwork at RJO then you might as well give it a try, otherwise there are better alternatives out there in my opinion.
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No, I haven't done any paperwork with RJO yet. The only reason I am considering them is because they are offering free platform and quotes. Can you suggest a broker for trading CME Forex Futures who is as reputable as RJO and doesn't charge anything for platform and streaming quotes or may be a software vendor who doesn't charge a fortune for using its platform and live data.