DeepDiscountTrading

Discussion in 'Retail Brokers' started by recession2016, Sep 20, 2016.

  1. Robert Morse

    Robert Morse Sponsor

    Why did you choose them? What did you like?
     
    #21     Sep 23, 2016
  2. tommo

    tommo

    I can't believe DeepDiscount haven't got a proper website together yet. It doesn't take a lot of money. They have lost so much business through people looking at their site and thinking its some amateur operation.
    Someone should buy that brokerage. Spend a thousand dollars on a web designer and could probably sell it for twice as much a week later
     
    #22     Sep 24, 2016
    RDK91 likes this.
  3. I applied to three other futures brokers: AMP, MBT, and Ninjatrader's partner brokerage (Dorman Trading). AMP and Dorman wouldn't process the application until I provided documentation, which was a hassle. Originally I planned to go with MBT, but they took 3 weeks (!) to process the application and approve the account. Deepdiscount's application took just 24 hours to process; their customer service is top notch. And the platform they offer, CQG, is great for order fills.
     
    #23     Sep 24, 2016
  4. Robert Morse

    Robert Morse Sponsor

    It is interesting that you choose the broker to do business with that asked for the least amount of work. Once you account is open, the work is done.
     
    Last edited: Oct 22, 2016
    #24     Sep 24, 2016
  5. Personally, I like the site. It is simple and clear... as was intended. No Frills. If you know what you are doing, you don't need anything more. Problem NOW is they have raised DT margins on the ES from 462 (last time I looked) to 1268. Not a good sign.
     
    #25     Oct 22, 2016
  6. the margins on their site aren't accurate; it says 900 for crude but it's actually a little less than 800
     
    #26     Oct 22, 2016
  7. Robert Morse

    Robert Morse Sponsor

    That sound like 25% of SPAN. We can do that too for day-traders that get approved by our risk guys.

    Bob
     
    #27     Oct 22, 2016
  8. Problem is, Bob, EVERYONE will do the 25%. Losing the 462 was the point.
     
    #28     Oct 23, 2016
  9. Robert Morse

    Robert Morse Sponsor

    Do you use it? Seems like even 4x can bring some big P/L swings. I have a CTA I've allocated toward that day trades ES at 4 contracts per $100k. That can have .25% to 1% per day. That seems like a lot to me. I can't imagine trading 85 contracts per $100k at any one time.
     
    #29     Oct 23, 2016
  10. I also plan to contact them after obtaining a certified FCM (ironbeam). I think that their experience would be very useful to me at the start of my training in trading.
     
    #30     Jul 20, 2020