The opinions expressed in these forums do not represent those of C2, and any discussion of profit/loss is not indicative of future performance or success. There is a substantial risk of loss in trading. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. You should read, understand, and consider the Risk Disclosure Statement that is provided by your broker before you consider trading. Most people who trade lose money.
Please update the brokerage compatibility for MB Trading/Tradeking. They do not offer collective2 compatibility for equities or options. Only futures. This is directly from both MB Trading & Tradeking support.
It’s worth noting that currently, the only US broker that offer equity options compatibility with C2 is Interactive Brokers.
I’m reaching out to TradeKing now. As you may already know, they’ve recently undergone two different corporate mergers (as both acquirer and then as acquiree) so it’s possible that the issue might be be solved by simply getting new customer service folks at TradeKing up to speed about C2. I’ll report back here as soon as I learn more.
Thanks Matthew. We were looking for alternatives to Interactive Brokers for equity options auto trading , as they have too high of a minimum deposit for many of our current followers that we plan to bring to C2. Optionshouse is no longer a viable option as they’ve essentially froze all new applications for C2 integration indefinitely until their compliance department drafts up new terms and conditions (which for all we know could take months). So basically our last resort is Tradeking/MBT; as the other compatible brokers on the C2 list are non-US based firms.
Any updates you could provide would be appreciated.
OK, just got a clarification from TradeKing.
“Right now, C2 only works with the old DeskTop Pro accounts and not TradeKing Classic or TradeKing Live accounts.”
In other words, C2 is only being supported on what were effectively old MB Trading accounts (for stocks, options, futures).
It looks like there is a good possibility TradeKing will roll out C2 support to all TradeKing accounts in the future (according to my contact), but I was given no firm promise nor any estimated date of completion for this. So, alas, for now, I must recommend to C2 Members that they do not open an account at TradeKing in order to work with C2.
Interactive Brokers is your best choice at this time.
When and if this changes, I will update this forum.
Matthew
What about auto trade with option house from my account there? To here,
That’s the issue that we’re actually running into, Tsvika. I have an optionshouse account that I’m trying to setup as a lead trader account (new account, opened 4/1/16) but have been told that Optionshouse is not currently approving any new accounts for C2. So I’m not sure how, or even if that impacts accounts that already had C2 integration. All I know is that they will not approve C2 integration for any NEW accounts (lead or followers).
Optionshouse are in the process of reviewing their forms and user agreements and once that is done they told us they will resume approving accounts for Autotrading.
So has this issue been taken care of? I just opened a tradeking account because interactive brokers is absolutely terrible these days, they take forever to fund and get an account set up, and their software is a mess.
Which issues did you recently notice with their software?
I haven’t even used their software because it’s taken so much time and effort just to re-activate my account and get it funded. It’s taken weeks so far, and it’s another week or two until the money is finally confirmed by them. Last I used their software and API it seemed clunky.
I find IB’s software clunky as well, but I think the main problem is with me. I only just opened an account there in February, and have not invested the time needed to really understand what it can do for me and customize it. Placing simple orders is not too difficult, which is mostly what I’m doing with it. However, I had zero trouble or delays in getting my account funded at IB, using direct connection to a bank account. Other funding methods may not be as straightforward.
User interface isn’t their strong side. There has been very little changes to it in the last decade or so. Their charting is a joke and their data is far from perfect.
They make up for that with a high level of stability - the platform is rock solid, generally good executions, and costs that are very hard to beat.
The level of their support varies. There are some clueless staff there that will waste your time and others are professionals who can solve your issues in minutes.
A good combination is to use them as a broker but with another charting platform and possibly a secondary data provider.
You mean ACH? The thing is, they make it much more difficult to do anything than it needs to be, by offering you every imaginable way to do anything, instead of simplifying, which is the whole point of an interface and GUI. I might as well be programming everything from the command line with IB. Also, tradeking will refund you the wire fee of $30-$50, while IB does not. I think TK is a bit more expensive per trade (not sure), but there’s not minimum trading requirement or monthly fees I don’t think.
TradeKing - no futures?
No futures at TK, right. And no mention of C2 anywhere in their help docs.
Yeah, tradeking seems like you have to open an MBtrading account, which I think only has futures. I don’t think it’s possible to trade anything but futures through tradeking/MB.
The other things about IB’s software is that a lot of it is clunky I think because they are so big. For example, their security app. Why not just use google authenticator? Their support system messaging is pretty bad. Couldn’t even send a file as an attachment through it.
