Tradovate changing from Dorman to Phillip Capital as new FCM ?

Discussion in 'Retail Brokers' started by CALLumbus, May 4, 2018.

  1. CALLumbus


    Hey you guys,

    I hear some stories that Tradovate is changing from Dorman to Phillip Capital as their new FCM. Does any of you know more about this ? Would you say this is a good or bad thing, how does Phillip Capital compare to Dorman ?

  2. trademan1


    I've used both, no difference I've noticed.
  3. KeLo


    Hi CALLumbus:
    I have not used either one, but I researched them
    Below is a Phillip Capital presentation by the owners daughter:

    I believe Phillip Capital offers ACH.
    Their margins may be more conservative than Dorman.
    CALLumbus likes this.
  4. CALLumbus


    Hi KeLo,

    thanks for the input !

    So far I dont see any margin change on the website of Tradovate, I guess they will keep everything the same on their side now that they offer Phillip Capital as FCM.

    It seems to me that more and more IBs are moving away from Dorman or at least offer additional FCMs to choose from. I would like to know why, is there something going on with Dorman, are they not offering good service ? I hope to get more info on this soon...
  5. tiddlywinks


    Hi @CALLumbus:

    There was a fire at an abandoned building last night. The official FD report stated Fireman Joe was the first to arrive on the scene. Today, the press is reporting that Fireman Joe started the fire. Was the presence of Fireman Joe the cause, or an effect of the fire? The press, without evidence, says Fireman Joe was the cause. IMO, you are doing the same thing.

    You do not know the the details of the IB or GIB business dealings/arrangements with the FCM, nor do you know the specific IB, GIB, or FCM business model and plan of execution. In my recollection, and my memory may be wrong, Philips (used to) cater to the oil market. They required a very high minimum account balance, and for the most part had conservative margin requirements. IOW, they did not want "retail". Maybe they want retail now, I don't know. Additionally, sortof recently(within the last year?), Tradovate changed their membership fee structure. Maybe they have new business quota with Dorman and did not fulfill... Maybe Dorman dropped them! Im saying that purely to make my point, it is not meant as a guess, a speculation, or anything. I have no idea. I do know however, you do not have enough factual information to insinuate that anything is "wrong". The FCM business is difficult. The brokerage business is difficult. Change happens, hopefully with notification.
    CALLumbus likes this.
  6. CALLumbus


    Hello tiddlywinks,

    I kind of agree, we have to be careful with assumptions and rumors. But on the other hand, innocent clients lost loads of their money in the past (Refco, MF Global, PFG...), usually because there was lack of information, otherwise they could have wired their money out in time.
    I dont shout "fire" here, I am not pointing at anybody, I just say, look guys, something is changing here, does anybody have more infos on this to share with the community, lets keep an eye on this... not like the press because of lust for sensation and to sell something, but to keep simple retailers like you and me informed and do what we can do to prevent any unnecessary financial losses.

    Phillip Capital indeed seem to want to attract more retail clients now, they are even communicating actively on other (retail) trading forums, trying to attract potential new retail clients (see also KeLo's post above).

    Have a great weekend !

  7. Tradovate

    Tradovate Sponsor

    Thanks for the interest in Tradovate and noticing we added a new (additional) clearing relationship.

    Since Tradovate's launch in 2016 we have seen significant growth. Based on this growth we decided it was time to add an additional clearing relationship as well as look to expand our exchange connectivity. Therefore, we are now clearing Phillip Capital in addition to Dorman Trading.

    Our relationship with Dorman Trading remains very strong and we will continue to clear Dorman Trading as well as Phillip Capital. The good news for Tradovate clients, nothing changes. Our pricing, platform, margins, and support are the same with both Dorman Trading and Phillip Capital.

    As we explore additional exchange connectivity we will keep you posted.

    As always, if you have any questions please do not hesitate to email
    CALLumbus likes this.
  8. toby400


    As a UK based and, new to Futures, trader, what benefit is it for me to go with Tradovate as opposed to direct to Dorman ( who, I am pleased to see, offer SEPA for EU clients to fund their account) ?
  9. The advantage of requesting Philips is that they have ACH capabilities. Maybe Dorman now has that also...its been awhile for me.