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Hello @Kalisto. Here at Cannon we clear through both clearing firms and I asked both treasury departments to elaborate on the FX Conversion fees. Phillip Capital does not have a seperate fee but the exchange rate is marked up. I'm not sure how much, all they provided to me is a link to their fees: https://www.phillipcapital.com/Fees
Dorman did get back to me and they said the fee is worked into the conversion as well. They weren't specific unfortunately all they told me was that the fee is worked into the conversion. I will send you updates when I find out what the specific fee is if the fee is fixed for Dorman. Thanks!
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Hello @Kalisto. Dorman Treasury did get back to me and they said "Depending on which way the conversion is going either 40 dollars or 40 Euros."
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
I can't withdraw checks from Dorman during this pandemic, but I can pay $30 to wire. I'm done with NT's introducing brokers, they suck because you'll end up paying some fees for withdrawels. I'm looking into IB right now. Tradovate has ACH transfers but no beneficiary option for Payable on Death to avoid probate. I hope I'll be happiest with IB.
“Successful people ask better questions, and as a result, they get better answers.” – Tony Robbins
I'm a happy customer using NT8 + Dorman Trading, but, I'm not quite satisfied that the only thing that's available on Dorman's online portal is my daily statement in a PDF format.
Meaning - there's no electronic portal where I can check my account value, current open positions, basic performance statistics, etc.
Is this possible with Phillip Capital?
Someone also said that Phillips have easier to read statements? Would love to see an example of one if someone doesn't mind to post one (just erase your name/account details).
no need for cross-posting, you already opened a thread with your question HERE. I already replied to your question with some details. Hope it helps. Cheers!
Also, I would like to add that Ninjatrader Brokerage does not recommend Dorman to European clients but Phillip Capital. This has probably changed and is valid since the beginning of 2020 as I have learned. Also me as a German citizen was recommended by Ninjatrader Brokerage quite clearly PhillipCapital, whose advice I also followed.