Hello,
I am new to C2 & Gen3 Autotrading and just signed up in December.
I currently have one system running that I pay $99 a month for plus there was a $99 onetime fee that was asked for. One glaring huge problem is what if I want to run 1 system on multiple personal accounts (IRA, RothIRA, trust, etc). As presently designed I am to be gouged unless I independently negotiate with the system provider to not gouge me. Additionally, there is that one time $99 annual platform fee per account being charged by MB or C2 (I am not sure which it was.)
Now I read today that C2 is going to start charging an extra $99 A MONTH for the right to Gen3 Autotrade…is this correct? a month? I find it bad form that C2 states this is a little fee…$99 a month is not little…it’s $1200 bucks a year. Will I have to pay $99 a month for every one of my personal accounts too? So now we are talking over $5000 a year so I can run 1 system on my own personal family accounts.
This is creating an aggressive situation where the all family capital multi-account user is being heavily gouged by both C2 simply because C2 has not got its IT to a point to handle a personal multi account scenario.
I remain excited to to see how C2 goes…but if it turns into a nickel and dime u to death experience I can just do some long-term position trading and have the comfort in knowing I am not being gouged and being experimented on while C2 finds the best business model.
MULTI-ACCOUNT MANAGEMENT (and the savings associated with it) NEEDS TO BE MADE A PRIORITY AT C2. This can obviously be solved and would end the current situation where fee gouging is now the result.
$99 a month per account for GEN3 will not endear people for the long-term. This fee should be $99 per year, bi-annual or at best quarterly…monthly is excessive.
Thank you for listening,
Robert
Robert:
The fee is simply $99 / month in order to use Gen3 AutoTrading for stocks. It is a flat fee: you can trade as many systems as you like, in as many brokerage accounts as you like, for this one monthly charge. There are no per-trade or per-share AutoTrade charges.
(System subscription fees are separate, and are unrelated to AutoTrading.)
Matthew
Matthew, When did this $99 monthly fee take effect? Was there any fees involved with autotrading stocks before this? I ask this because after a year of foreward testing my system S&P ETF TIMER for no charge to the subscriber I think its time to put a fee on the system. I was thinking $43 a month but if you guys charge $99 month on top of that Im not sure too many people are going to stick around. That would be too much per month for small accounts and I would guess that 90% are small accounts. Any thoughts on this?
$99 per month is WAY too steep ! $99 per year is more what I expected. I’m going to have to reconsider my use of C2, especially when there are several good stock/option services out there that don’t charge extra to autotrade.
The message about C2ers implying that they are not getting any other fees is just BS. I have heard from prospective stock services that the fees are substantial for each subscriber.
Also, I was not able to actually purchase a license. When I entered my credit card and hit the yellow button to get the license, it put me at the top of the web page with no error messages.
Hi, Paul:
To answer your question: there was previously no AutoTrade fee for stocks and options. We will need to charge money in order to offer the service, because it is expensive and hard to provide.
We begin charging a license fee on Jan 1, 2011. People can sign up now for their license, to insure that there is no interruption in service when January comes, but no actual charges will take place until January 1.
The fee is $99 per month for stock trading.
Matthew
Thanks for the reply Matthew. Can subscribers use Gen 1 and Gen 2 at no cost?
Gen1 stock autotrading has required customers to buy software that they run on their computer. That software is made by independent software developers who determine their own pricing. You can find out more at either www.tradebullet.com or www.trader68.com if you want to use Gen1 AutoTrading.
I would be happy to pay $99 a month if you provide a Gen3 connection to Interactive Brokers, otherwise one is better off using TradeBullet at $50 per month to get connected to IB because IB, in my opinion, is by far the best broker.
Matthew,
I am not sure this solves the predicament. Say I am running 1 system on 5 different brokerage accounts. To do this presently I need to create 5 different C2 login IDs since it is not possible to run 1 system on multiple brokerage accounts from 1 C2 login ID.
In this situation, I would be charged the $99 a month GEN3 C2 fee, per C2 account I have opened, no? Or can I consult with you directly so I am not charged this repetitively?
…or am I missing something all together?
Thank you,
Robert
In this case, you only need one monthly license. So, once you acquire one license, you could simply contact me, and tell me which of your C2 accounts need to be linked under that license.
