This is one of those times when I think everyone is right. I had a bad experience before Tradestation with an 1800.00 overcharge on OptionStation that, try as I might, could never get resolved. Same folks, of course. Despite this, I have in the somewhat distant past tried to use tradestation more or less as charting, but with I think 6.0 (no match for realtick at that time through the old MD trading) and I took a look at 8 when it came out as well (late 2004 maybe?). Each time there have been glaring shortcomings that I feel made the platform unusable on a daily basis. At that time their futures feed was indirect and would all but die under fast market. Nonetheless, I would point out that this practice you are on about is common, just maybe easier to get a handle on at some rather than other brokers. Much like the short list, it is a key to know ahead of time what can and cannot be done. Anyway, best of luck and if you hate them--I honestly doubt they will ever change--find another home that is more pleasant. Life is short, follow your gut.
Do not even consider Etrade Pro unless you like long hold times when you call customer service and a really inferior platform. Read other posts about Etrade. I'm in the process of switching from them to CyberTrader.
Same old same old again today. ABAX is not marginable. I haven't even bothered to call the trading desk to ask why, yet, but I'm sure they're going to tell me that it's not marginable because the price actually goes up and down sometimes. This is just ridiculous!
OK, I broke down and called... It's in the healthcare sector, diagnostics industry. This is considered to be a biotech. Basically, it seems that TradeStation considers anything in the healthcare sector to be a biotech, and therefore has a 50% or 75% equity requirement, depending, subject to change on a daily basis, and not posted anywhere for their clients' benefit. Even if it's specialty retail, like PetMed Express, be careful! (They consider it a biotech.) The customer rep couldn't even figure out why their misrepresentation of my buying power could increase my risk. Go figure. He even went so far as to tell me that this is just the way it is, they can do whatever they want (as so stated in their margin agreement) and if I don't like it I should go somewhere else. Sounds like a plan. Any suggestions?
What strijkes me is how IB responds to complaints, even in elitetrader message boards, but Tradestation just ignore your complaints. I have been using Tradestation for the last two weeks, i have not taken full advantage of its program. I hope i dont have as many problems as you do with them.
IB is run by traders and software developers. Tradestation is run by promoters and software developers. Cruz brothers have a clue? come on. They're looking for a buyout imho.
Cruz brothers do have clue, i say. Wait and see what happen to TRAD shares when they offer spot forex and European exchanges this september, the company will grow nearly two fold by next year
TradeStation could care less. They are aware of my complaints. I have posted on their forums as well, including posting a poll, per one of their reps suggestion, so they can evaluate whether or not telling us our actual buying power in advance has a positive cost/benefit ratio for them. I have also spoken with reps at their trading desk and in sales, but no luck. Take it or leave it. I spoke with their "Director of Trading" the other day. The guy had no idea how misrepresenting their clients' buying power could be harmful to traders. I don't expect any changes, so I'm looking around to see who is better...
Check out their latest earning conference recording, they are coming out with few other features: -first "fundamental data" for backtesting -then Spot forex and European exchanges around sept,05 -then portfolio testing end of year also they are making few major changes to options trading optionstation With $1.6 billion in 26,000 customer acccount for last qtr announced, but TRAD share is pulling back due to lack of enough customer support and technical difficulties