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Dear Valued Customer,
This is to formally notify you that effective on the close of business November 5, 2021, NinjaTrader Brokerage, LLC will be transferring its customer business from Dorman Trading, LLC (“Dorman”) to NinjaTrader Clearing, LLC (“NTC”). Both NTC and Dorman are registered Future Commission Merchants (“FCM”). The contact information for NTC will be:
NinjaTrader Brokerage Support
E-mail: [email protected]
Phone: (800) 496-1683
If you intend to accept the transfer of your account to NinjaTrader Clearing, LLC, you need take no further action. Your account will be automatically transferred to NTC as of the close of business on November 5, 2021.
Please note that you are under no obligation to accept this transfer. If you choose not to accept the transfer of your account to NTC, you must provide Dorman with instructions to transfer your account to another FCM or request that your account be liquidated. Please be advised, if you decide not to participate in the transfer, you may be subject to changes in your margin requirements, commissions, and account minimums. In addition, if you hold a position at the close of business Friday, November 5th, 2021, your account will not be transferred.
Any instructions in this regard must be directed to Dorman’s Compliance Team, [email protected]. If you fail to provide such notification prior to the close of business on October 29, 2021, you will be deemed to have consented to the transfer of your account to NTC.
For all other questions or concerns that you may have regarding this transfer, please feel free to contact NinjaTrader Brokerage Support at (800) 496-1683 or [email protected].
Sincerely,
Dorman Trading, LLC
*****************************************************************
Is this good or bad ?????
This has been in the works for months now. NinjaTrader Brokerage has been an introducing broker for both Dorman Trading and Phillip Capital, which were NT's FCMs (which just means you have an account with NinjaTrader and your trades go through Phillip or Dorman.) Some people had accounts with one, some with the other. NT has now set up their own FCM, NinjaTrader Clearing, and all the Phillip and Dorman NinjaTrader accounts are being transferred to the new NinjaTrader Clearing. You don't have to transfer to NinjaTrader Clearing, but if you don't you will need to make some decisions about where you want your account to go.
As their email says, if you are OK with the transfer, you have to do nothing, so long as you don't have an open position on the transfer date. If you don't want it, you had better get to Dorman and tell them so. You will not be able to keep the NinjaTrader account in that case. If you want to know your options, I suggest getting in touch with Dorman or NT support.
Note this from their email: In addition, if you hold a position at the close of business Friday, November 5th, 2021, your account will not be transferred.
There were a number of posts regarding the Phillip account transfers, and now there probably will be more about the Dorman change as they start to do that one.
I will keep this thread open for others who have questions on the Dorman side of things, but will change the title to "NinjaTrader and Dorman Trading" to make it more clear, and with the same wording as the Phillip thread.
It seems that things have gone well with the Phillip transfers, but everyone affected should be in touch with NT or Dorman if they are unsure what is best for them.
Bob.
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The sister thread of this one on the Phillip side, which starts off with a post containing exact same email (except it's for Phillip instead of Dorman) is here:
So, I received the email below stating that my account will be transferred from Phillips Capital to NinjaTrader Clearing. If I dont want the transfer, I have to transfer my money someplace else or withdraw it. The end result, I will no longer be a client …
Anyone interested in how that transfer went for Phillip accounts can refer to that thread. There's also some background about what Ninja is doing regarding both FCM's.
I expect it will be about the same: a non-event if you want to stay with NT Brokerage.
When one door closes, another opens.
-- Cervantes, Don Quixote
Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
