Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Need Help: Urgent Broker Problem (Phillip Capital: NT Brokerage, Edge Clear)
Guys, please take all discussion of Trading Technologies out of this thread so as not to confuse the issue. This thread is about Phillip Capital as an FCM and their outage.
Further posts about TT and their issues will be removed. It is better to start a new thread and post there instead.
Broker: Broker: Trade Future 4 Less. Data Feed/Order routing: CQG
Trading: DAX; ES; Bund Futures
Posts: 77 since Oct 2018
Thanks Given: 49
Thanks Received: 57
I do not have any specific interest in the PC – NT issue here as such
But I am wondering if anyone have heard or read about if institutions, proprietary trading firm or hedge funds who had the same issue with PC at the same time or is this solo an retail trader issue?
Further the issue with TT is mentioned – To me – Again I am an outsider- but it seems like TT reacted fast as send out instruction on how to behave, where as CP/NT seemed were slow on this from what I can read here.
Just my thoughts for what it is worth……
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,208
That is a great question. Not sure how we get an answer to that.
Urhhh no. TT's response as always is vague and non-committal with CYA recommendations to 'check with the exchange'. It now looks like they deployed a fix over the weekend, to correct the outage we saw last week, and that 'fix' was the cause of all the problems this week. They claim to have deployed a fix last night during downtime to fix the broken fix! The quick and decisive TT responses you have seen in this thread, have been by the brokers themselves who have customers using TT, and not TT themselves.
Broker: Broker: Trade Future 4 Less. Data Feed/Order routing: CQG
Trading: DAX; ES; Bund Futures
Posts: 77 since Oct 2018
Thanks Given: 49
Thanks Received: 57
Thank you for the clarification regarding TT - My point was that it was good that someone send out instruction fairly quick on how to behave - I am afraid that if I was in the situation I would have closed the false trade, and thinking: Better safe than sorry - And by doing to be sorry that I would ending up with at trade I did not want without knowing it until later.
Mmm .. this thread brings back memories from my PFG Best experience in 2009. I read in this thread that the industry is “ heavily regulated but they are Self Regulated” . As a qualified Lead Auditor I cringe when I hear these 2 words in the same sentence. For those that have time feel free to read up on the “Heavily regulated” banking industry in Australia in 2019 Royal Commission Inquiry that also had an “oversight body”. The mere fact that traders come to a forum like this to ask for help tells me the industry are not well regulated. There must be clear instructions for a sole trader to follow, there must be clear guidelines/regulations for a broker to disclose issues with their platform to all their traders and not wait till someone complains or refer them to the exchange.
Again with PFG best there were thousands of traders that had a similar experience yet me at the time had no idea. I had to push and push for the trading desk to admit at the end there was an issue. The collapse of so many “heavily regulated financial industries/banks” in 2009 is yet another example.
