Zumo and Generic trade

Discussion in 'Retail Brokers' started by pma, Mar 31, 2014.

  1. pma


    Is there any reason to chose one over the other for futures trading? Besides the 9 cent difference in commissions that is (They are both FCMs of Ironbeam) Any feedback would be appreciated. :)
  2. pma


  3. seadog


    What products do you plan to trade?
  4. pma


    CL,NG, and NQ :D
  5. pma


    Does anybody have any first hand experience with either of these firms?
  6. Brighton


    If you are only going to trade the liquid futures mentioned above, they might be OK.

    The price is right, but I downloaded a demo of the FireTip software in Oct or Nov (from Zumo) and was underwhelmed. They said they had just upgraded it but I didn't like it. The charts were bare bones with only a handful of adjustments/indicators and they were poorly designed - a lot of wasted space at the bottom of each chart.

    The quote/watch lists were OK, the DOM seemed fast enough, but I only tried it with a couple of simple fake orders.

    They had some pre-formatted futures spreads which could be a time saver, but what made me lose interest completely were their options chains, or lack thereof. No impl vol, no greeks, and a complicated, slow way of finding the (basic) chains in the first place.

    So, if you're a short term trader and the price is what attracts you, maybe they're worth a shot, but they're not the place for trade research, for options, or for trade mgmt/portfolio review.
  7. pma


    Brighton-thanks for the reply :D I only trade futures outright,no options,so maybe it will be O.K. Anyone else?
  8. I still have an account at Generic Trade and do mostly Indices and Currencies - just futures. The platforms do not have as many features as Ninja or TT that I've used before, but for my kind of trading (100-500/day off of dome), their 'Generic Trader Pro' has worked out well for me.