BTW: I trade more futures spreads than options spreads, but you actually need an RFQ for a *fly* in the options spread book? That seems really odd to me.
There is nothing other than a single option order or a strategy order. Of course the strategy (eg. fly of given expiry and strikes or anything else) may have already been created and be active, in which case it will already be quoted and you do not need to do anything other than trade it. Software platforms such as TWS internalize this so you do not have to understand what is really happening, but on other platforms such as non-Pro T4, there is no way to execute a specific fly that has not already been created already by someone else (well actually you can call it in to the exchange). This makes such latter platforms completely unsuitable for trading options in my opinion (unless you buy the $500 a month Options Pro add-on).
We have no problem setting up the Options side with TradeStation. You are right, they use CityTrader for the Options side.
In my opinion, OAK along with the ADMIS portal could be a very good solution for Options traders. The portal provides "What If" scenario that would show you the impact of Options on your margins. The cost we provide would match standard retail rates applicable to the level of RT. I think that no one can say that one solution is better than another. Every trader has specific needs that need to be matched accordingly. Sometimes they are very subtle differences.
Do you introduce to ADM? Equities also? What sort of minimum account size? Do they offer portfolio margin? Thanks.
Wow that would be potentially very attractive because they have no routing or platform fees, compare to the other way of getting CityTrader through other FCM's which do have significant fees. In fact I think this would be the lowest cost way anywhere to get OptionCity with its rich RFQ/UDS capbilities, assuming a commission rate of 50 cents, if that can be given as I think may be implied on your site. On the other non-futures-options Tradstatation platforms, they do have a $99 a month fee (which you list at https://optimusfutures.com/Platform-Pricing.php) for a whole package of Backtesting data and platform, Portfolio Maestro, RadarScreen, etc. but they waive that fee if you have over 10 options trade round trips per month. Those tools are not really of relevance for Futures Options, but even if that fee does apply to a Futures Options account, 10 round trips per month is nothing once one is well underway on a platform. So I am strongly tempted, but need to hold off the switch until the new year.
Yes it definitely could be for some futures options traders, with its free platform (that may not include options though). I did try to look at it on the web, but I do not see any indication it has RFQ's/ UDS's. Without that it would be unusable for me because I trade options butterflies etc., for which you need those.
Right click inside any of the empty quote boxes on the OAK trading software and then you should see Strategies. Once you click on that you will see the predefined strategies. Once you choose your predefined strategy, you can request an RFQ.