www.proactivetrading.com Not affiliated - other than being a customer who recently opened an account. So far so good. Up front about their fees on their web site which I found refreshing.
Yes, just that: they do not post their fees and commissions on their site which is a sign of less than honest business practices. I do not support ventures like that. If they do not have integrity to be straightforward as to what they have to offer, why should I consider doing business with them?
Again, you need to look into the exchange and clearing fees for each product and then you can determine what IB or TransAct or anyone else is taking for themselves and to cover their cost. Different exchanges price different products differently. It is all there at the exchange's website. This is a starting point for when you call to negotiate.
Transparency comes at a price. TransAct will discuss your fees and commission with you on an individual basis depending on your volume. This may not be good for some, but great for others. I don't use them, but I have had lengthy discussions with TransAct and found that they were very straightforward and to the point. When they can't do it, they will tell you.
That's the kind of philosophy I don't subscribe to. We live in an open society and we should live by its standards and not by the standards of used car salesmen...
ive did business with transact for over a year. nothing dishonest at all. the only reason they don't post their rates on their websit is that they want to give their IB's a chance to grow their business. or they don't want to compete against their ib's. and having Goldment Sachs as their CME clearing member, you can't get stronger than that. Transact is a good firm.
this is hogwash. have you ever traded stock?go to echo or hold brothers or assents sites. they never post commissions as its negotiable. if you call bill zimmerman he'll tell you straight up what the commissions are . now if you tell me transact's fills suck or there accounting is screwed up or when you go to withdraw money they stall you ok then thats very important. but to jsut hate a firm because they don't lsit there commissions on there web site is crazy. do your are anyone on here have anything bad as far as the above i listed on transact?
My point is: Transparency on a website does not mean that this is the best price you can get (take or leave it kind of thing). Published rates might make you go elsewhere and give the impression that this is as good as it gets. Hence, if the rates aren't published or are published, I'm still going to pick up the phone and push for better commissions. As I said before, you can't do that with confidence unless you know what the base cost is.
I tested their system live for a day on the CEO's account. The aim was to check the execution and make sure the front end was what I could live with. I got paid my P&L in 3 days ($3,288.13). I didn't end up going with them but they were the best choice after my current clearing firm.
I have seen many excuses to hate a firm but to tell people to lambast a firm when you have not done any trading with them is pretty weak. I have known Transact for a couple of years. Bill Z is an outstanding guy. You can go to the bank with what he says. If you have a problem with them because they don't post the commissions you have a lot of clearing firms to hate.