Hello Matthew and C2 community,
My two accounts at OX and OEC are locked up. I just talked to someone at OEC and he estimated normal trading with C2 can resume in about a week unless a new sub account is opened. OX froze the account while SEC liquidated all open positions. Neither organization claimed any experience with breach of security in a client firm like C2 experienced, and their policies differ with regards on how to proceed.
Since I use auto-trading, opening sub account at OEC to trade futures will not help me. I assume there are other C2 customers in similar position to mine, and it is good to clear up situation for everyone. Can C2 provide any guidance when normal trading will resume? Also, will there be charges for models we currently use if auto-trading is not possible until regular trading is restored? What C2 proposes with regard to compensation for incurred loss as a result of inability to follow all models? I certainly do not want to see C2 be financially stressed by this event.
One option is for models to not trade until the site is back to normal and not charge customers for this period. I can only speak from my own experience, and other options of course can be considered if they benefit others more.
Any thoughts or suggestions? Matthew, please keep us updated with regards to trading, fees and other issues. No mater what transpires next, I believe in the model this site follows and plan to continue to use its valuable services. I hope current adversity will strengthen the site not only in the security measures but in other key areas such as trade integrity and robustness of the trading platform.
Regards,
Eugene Furman
Good post. I am in the same situation at OEC.
All blocked while my subscriptions keep running. No problem is a couple of days but if it takes weeks I do not believe we should be charged.
Good post. I am in the same situation at OEC.
All blocked while my subscriptions keep running. No problem is a couple of days but if it takes weeks I do not believe we should be charged.
The decision to suspend C2 AutoTrading temporarily was made by OpenECry and optionsXpress in order to be abundantly cautious. C2 is working with both brokers to give them the information and comfort they need to allow the resumption of trading as soon as possible. I do not currently think we are talking about “weeks,” but of course I cannot speak for those firms, only for C2. From C2’s perspective, we’d like to get things back online as soon as we can.
While AutoTrading has been temporarily suspended at these brokers, once you call them and re-enable your account, manual trading will again be possible. I encourage you to do this if you haven’t, and at least that will allow manual trading of C2 systems.
I understand the importance of trying to get AutoTrading at these brokers back online as soon as possible. I’ll keep you posted via this forum as I learn more.
Matthew
Mathew,
I am working full time and it is not possible for me to trade manually; I assume there are others in the same circumstances. If there is an option to postpone subscription to all of the models I get until AutoTrading is restored, it would be a nice gesture on your part for those who primarily AutoTrade.
Eugene
Same situation here. I am on C2 because of the autotrade.
Reply from OEC of 31st December:
"We expect it to take about a week or two for collective2 to give us reassurance they are secure to allow trading."
