Hi, I am about to open a new futures trading account. Platform/ feed will be CQG Q-trader. I want to be with a large FCM with good reputation, so the final decision is now between RCG and Vision Financial. Commission rates would be the same for both. What experiences do you have with Vision and RCG, which one do you prefer ? What I like about both of them is that they have a near to realtime client portal with account info, position info... this is good in case the frontend is going down. I hope you can give me lots of input to help me with my decision. Thank you all in advance. Greetings, CALLumbus
You should check out Futures Magazine's recent articles on Vision. They might be under the byline of Dan Collins, who was a contributor at the time; now he's the boss. Edit: Here's one. Others might be at the Dan Collins report. http://www.futuresmag.com/2013/12/16/vision-sanctions-over-ace-long-time-coming
I worked there and know the owner. He is a decent guy and always plays it safe. I would have no problems trusting him. All he cares about is the commissions and he does not trade his or the companies money. Since I was working there when they rolled out the discount trading platforms I will say your account rep gets a piece of the commissions so you should be able to negotiate rates. Vision is a small but good company!
Have you spoken to Advantage? http://www.advantagefutures.com They clear far more than either Vision or RCG, offer CQG, and are a very solid outfit. They will negotiate good commission structures as well if you are doing any sort of volume.
@Brighton: thanks for the info and the link, really interesting and helpful. @S.H. : thanks for the insight, but are you talking about Vision or RCG ? @L.S. Thug: I have talked to Advantage. In my oppinion, they are the best. If I would do higher volume, I would definitely go with them, cause they offer the best rates if you trade real size. But for now, I do not trade thaaat big, so the rates that I could get at Vision or RCG are a bit better. I hope there will be more feedback and input, all this info are really interesting and helpful. Thanks to all of you and have a great day CALLumbus
They're both fine firms. I clear thru both and have never had a problem, except for one IB RCG used to use, but that was beyond RCG's control. So unless you are talking about leaving a few 100k on deposit at an FCM to cover your margins, either will do.