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"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Thank you for replying quickly i appreciate. I was wondering about the 'other variables that retail guys dont take into consideration', what would you suggest we do/ask before selecting a broker? What do you think about PrivateBanker's recommendations here?
But I doubt that a forum of retail traders will help much. The only thing that will surely change a thing in this industry IMO is masses of people withdrawing funds from their futures accounts, i.e. ceasing to trade futures at all. Only then, when the profits of the brokerage firms start to decrease considerably, will they start to change something...
It's for sure right, that it's about the people. However, as one other futures.io (formerly BMT) member mentioned earlier, even a PFG employee who knew Wasendorf almost on a personal level, was apparently shocked about all this. So, for an outsider it is nearly impossible to judge about a company by knowing some of their managers. I guess, even if you knew Wasendorf personally, it would still be difficult to suspect something.
It looks like their "CFCT/NFA Disciplinary Action" value could be skewing their numbers a bit, especially when you compare the other numbers to firms higher in the list. RCG was fined a few months ago for not cracking down on a single shady account hard enough (google "rosenthal collins group" and see a few entries down). This seems like a one-off type of event, but that could be wishful thinking (I'm also a RCG customer ;-)
For live trades through Ninja I've only used IB and AMP although not expecting any issues with TD as I am able to logon to my TD account through Ninja. If there are any issues I will report back.
From their website it looks like they just aggregate publicly available information (how should they get inside info...?).
Hence, I don't think that it is of much use.
The net capital figures and in- and outflows are reported by the companies themselves.
The only interesting red flags are regulatory or exchange actions and penalties or whether they have proprietary trading, but these can be researched by the retail clients on their own... no need for Atlas...