OmniTrader Archives
FOLIOfn
Integrated Trading in OT
26 replies, 8423 viewings
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OmniTrader Archives
FOLIOfn
Integrated Trading in OT
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Last Activity 5/25/2010 4:37 PM 26 replies, 8423 viewings |
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I can now place my long trades as I am prospecting through my focus list in OmniTrader. It literally takes me no more than 10 minutes to find good trading opportunities and place my order. I'm excited about the financial opportunity this presents as well as the position it puts me in to better support our customers. Sincerely, | ||
| Ian Inkster New User Posts: 2 Joined: 1/22/2004  User Profile |
I would be most interested to find out what those reasons are. Some time ago, I decided to trade the US market and contacted a broker with reasonable commission rates. After several weeks and numerous ‘phone calls, I was finally informed that since I did not have a U.S. Social Security number, I was “not allowed” to trade via a U.S.broker. I immediately contacted Amertrade and had an account up and operational almost immediately. Funds were transferred from a U.K. account overnight to my new Amertrade account. All that I had to do was complete a W7 form. I have a U.S.Bank account or (alternatively could deposit funds with Foliofn) and since I have proved that a Social Security number is NOT required then it would appear to be a FOLIOfn Company policy. Why? Let me further point out, that there are literally hundreds of Australians and New Zealanders, (not to mention U.K. etc.) who daily trade the U.S. markets through large Australian based brokerage firms. To the best of my knowledge, apart from completing a W7 form, one does not have to obtain a U.S. Security number. One would think that the benefits to FOLIOfn and Nirvana would be obvious. Angela, can you please help to change this anomaly. Kindest regards, Ian Inkster | ||
| egallagher Regular  Posts: 96 Joined: 3/6/2004 Location: Pennsylvania, USA User Profile |
It would be great to be able to trade directly though OT but I am very hgesitant to move my accounts or treade through two differnt entities. TIA | ||
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I COMPLETELY agree with you. We didn't know this until after we had sent the mailer out (it's in their fine print). And frankly, I was surprised. You are right - other brokers let you set up accounts here, so why not FOLIOfn? It's a bit absurd. I am going to pursue this next week with them, to see if there is any way a non-U.S. citizen can set up an account. I will see what I can find out through my contacts. What I would do, is contact them yourself and voice your dismay that they don't support international customers. I am just one voice. If every international customer called FOLIOfn and complained, perhaps that would get them to move on this. Thanks for posting.. ----- Ed Downs CEO, Nirvana Systems | ||
| fasttracker New User Posts: 3 Joined: 4/29/2004 Location: Farmington, MI User Profile |
I just installed FolioFn Interface. When I click on foliofn icon and log on to my folio account I get information about one account. I have two accounts with foliofn. Now I do not mean I have two folios. I have TWO ACCOUNTS. How do I log on to the second account. In folio I log on using the same username and password. In OT I get info about only one account. What gives? Taljit | ||
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This question has come up 2 times today; your timing is perfect. We came across this scenario during our beta testing. Our development team is adding a window that will allow you to select the FOLIOfn account you would like to access. The next OT update will include this feature. Regards, | ||
| fasttracker New User Posts: 3 Joined: 4/29/2004 Location: Farmington, MI User Profile |
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Unfortunately, I cannot give you a firm date. There are other changes in this release and it needs to be thoroughly tested by our quality department before it's posted. I anticipate it will be available on Thursday. Regards, | ||
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1. Are FOLIOfn end of month statements and/or tax records made available to clients? 2. Are ARM2r3 and r4 included in FOLIOfn's "Default" testing? 3. OT's testing of the FOLIOfn's universe of symbols takes my machine about 45 mins. Have others reported about the same time required to test? Thank you fg | ||
| JamesT Member Posts: 15 Joined: 5/19/2004 Location: Washington User Profile |
I've been trading with FolioFN, for a couple of years. I haven't actually used OT with it yet. However I do the answer to your first question. FolioFN, does an awesome job at reporting. Their reporting handles taxes very well. In fact, my accountant was able to use one of their printouts as an attachment to my taxes last year. She didn't even have to transfer the trades to any of the tax forms. It was just a matter of attaching the report and reporting on the final amounts. Hope that helps! JT Originally written by 14219 on 5/18/2004 4:47 PM Not clear on a couple of FOLIOfn details. 1. Are FOLIOfn end of month statements and/or tax records made available to clients? 2. Are ARM2r3 and r4 included in FOLIOfn's "Default" testing? 3. OT's testing of the FOLIOfn's universe of symbols takes my machine about 45 mins. Have others reported about the same time required to test? Thank you fg | ||
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One of my questions was whether FOLIOfn's "DEFAULT" testing system that ships with the CD includes ARM2. If I had thought, I would have not have asked. ARM2 would not be a part of a package available to non-Club members. Thanks again, fg | ||
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fg | ||
| Kris Veteran  Posts: 102 Joined: 5/23/2004 Location: Johannesburg User Profile |
Have you/Ed managed to twist FolioFn's arm to accomodate international customers? As suggested, I contacted FolioFn as well... Kris Johannesburg, South Africa | ||
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Our contact at FOLIOfn asked their compliance department about international customer accounts. Their basic answer was they don't have the resources to devote to covering all the legal requirements. I would ask that international members not get discouraged; they are just one broker - we will implement others. ----- Ed Downs CEO, Nirvana Systems hedowns@nirvsys.com | ||
| fasttracker New User Posts: 3 Joined: 4/29/2004 Location: Farmington, MI User Profile |
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| JamesT Member Posts: 15 Joined: 5/19/2004 Location: Washington User Profile |
JT | ||
| Barry Cohen Sage   Posts: 6338 Joined: 1/19/2004 User Profile |
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| RichardL Veteran Posts: 134 Joined: 9/18/2004 User Profile |
There are some great UK dealing sites using web interfaces which I would love to be able to use with OT. Could Nirvana offer some kind of SDK to allow users to capture the relative dealing interface clicks/moves & generate their own macros/VB code? or run a user survey to capture the "best of dealing sites" over the installed user base as a start to identifying the next interfaces for international customers? Best regards Richard | ||
| Flowta Regular Posts: 92 Joined: 1/12/2004 Location: Canberra Australia User Profile |
Gary | ||
| Privateer Regular Posts: 85 Joined: 1/24/2005 Location: Germany User Profile |
Their Trader Workstation can be linked already via active X, DDE with a lot of data / TA sources and there's an active usergroup offering many types of plugins and addons for trading an IB account through other interfaces. Dozends of professional and shareware applications can be found on their website under "Software" Best of all : commissions are really low. 0.01 USD/share for US Trades. 1$ min./trade. For trades 500 shares & up, they charge only 0.005 USD/share. Options start from 1.95, I think. With those commissions, and basket orders one can easily try to simulate a Folio - like strategy - with the difference that you still can go short, have access to margin and realtime trades - also through ECN's. I do about 400 - 500 roundtrips a year and have yet to find a better choice for the self directed trader. But It's not really the best choice for scalpers though. The wealth of ordertypes including such as conditional orders, Iceberg, Baskets, hidden , conditional , Market on open, Market on close, Volume wheighted average price etc. is very impressive and they continue to add new features to their TWS with almost every new release - which comes frequently about 1 in a month. I'm working with IB since almost 4 years now and have no reasons to complain. For more info : check www.interactivebrokers.com Newbies be aware: IB belongs to Timber Hill Group,Chicago, one of the biggest Market Makers in the futures and options market. Their typical clients are institutions around the world. Although Interactive was designed for the active retail trader, it's not the Charles Schwab type of broker or an E-Trade financial supermarket. IB is a plain direct access broker ( not to mix up with typical daytrading brokerages ) with very low commissions and a wealth of markets to trade. However, they'd be the last to hold your hand on other things than technical support for their Trader Workstation. You need to know what you do when trading with IB. Disclaimer : I'm not related to this company other than being a satisfied customer since many years. I'm not advocating daytrading ( which I don't do myself anyway ) nor do I give any advice on trading, brokerages and other financial subjects. If you decide to trade with IB, it's completely your own decision and risk. [Edited by Privateer on 2/17/2005 10:32 AM] | ||
| JJ DOKE Member Posts: 22 Joined: 12/28/2003 Location: Longmont, CO User Profile |
JJ | ||
| Flowta Regular Posts: 92 Joined: 1/12/2004 Location: Canberra Australia User Profile |
Gary | ||
| Barry Cohen Sage Posts: 6338 Joined: 1/19/2004 User Profile |
http://www.omnitrader.com/omnitrader/support/OT2004/forum/thread-view.asp?threadid=804&posts=2 Or create a new post in this forum: http://www.omnitrader.com/omnitrader/support/OT2004/forum/forum-view.asp?forumid=21 [Edited by Barry Cohen on 2/17/2005 3:32 PM] | ||
| Privateer Regular Posts: 85 Joined: 1/24/2005 Location: Germany User Profile |
think we are not talking about adding IB as an additional datafeed only, as the two other threads, but for integrated trading. But you're right this belongs to the feature request section. Other than that, IB offers no backfill on it's realtime data to my knowledge, hence the datafeed service of IB would be only of limited use unless you have an additional source for the needed backfill data. regards |
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