Infinity Futures LLC, a Chicago, Illinois-based introducing broker, has been fined $120,000 by the NFA.
Chicago, November 5
The NFA has imposed a $120,000 penalties on Infinity Futures LLC (Infinity Futures), an NFA Member introducing broker based in Chicago, Illinois. Infinity Futures is a wholly-owned subsidiary of York Business Associates LLC (York), a Deer Park, Illinois-based NFA Member futures commission merchant, and sends nearly all of its business to York. Patrick Zielbauer, an associated person (AP) of Infinity Futures, was also fined $20,000 by the NFA. Finally, the NFA ordered Infinity Futures to keep all of Zielbauer’s communications on record for the next three years.
The decision is based on a Complaint filed by the NFA’s Business Conduct Committee and a settlement offer presented by Infinity Futures, York, Zielbauer, James Paul Mooney, and James Cagnina, among others. Mooney and Cagnina are both Infinity Futures APs, and York is an Infinity Futures principle. Mooney is also a York principal. The Panel ruled that Infinity Futures, York, and Zielbauer, among other things, failed to uphold high standards of business honor and just and equitable trade principles. The Panel also discovered that Infinity and York transacted business with a company that should have been registered as a commodity pool operator and an NFA Member with the CFTC but was not. The Panel also found that Infinity Futures, York, Mooney, and Cagnina failed to supervise Infinity’s and York’s operations and workers diligently.
Infinity Futures was purchased by NinjaTrader.
CHICAGO, IL, 13th January 2021 TransAct Futures, a non-clearing Futures Commission Merchant (FCM), and its wholly owned subsidiary, Infinity Futures, an Independent Introducing Broker, have been acquired by NinjaTrader Group, LLC, a major provider of trading software and brokerage services to active traders.
As a prominent Fintech provider, NinjaTrader supports over 500,000 active traders, decreasing the barrier to entry into the futures markets. NinjaTrader will continue to modernize the retail futures business with the acquisition of clearing operations, offering a unique combination of cost-effective access to institutional-grade technology and new services.
“Futures clearing is ripe for modernization, and streamlining the user experience is the next natural step in our company’s growth,” said Martin Franchi, NinjaTrader’s CEO. “The chance to transform clearing processes will allow us give unrivaled value to our consumers through a premium experience not currently available in the marketplace as the preferred destination for retail futures traders.”
NinjaTrader continues to redefine the futures business as a Fintech pioneer, with a fully regionalized trading platform and brokerage services that support seven languages. They will be better positioned to capitalize on the expanding global demand for futures market access as a result of this transaction.
“NinjaTrader was formed in 2003 with the goal of providing an innovative trading platform and empowering futures traders, according to Raymond Deux, the company’s founder. “We proceeded to innovate in 2014 by introducing low-cost brokerage services, which further revolutionized the sector. As we reimagine the user experience to effectively assist our traders, the purchase of clearing operations is the next step in that goal.”
NinjaTrader is an introducing broker, correct?
Tuesday, April 7th, 2015, Denver, CO – NinjaTrader Group, LLC has announced the addition of forex trading to its NinjaTrader Brokerage services. NinjaTrader platform users can now use a NinjaTrader Brokerage trading account to directly access the world’s largest and most liquid market.
“With the addition of spot forex, we are thrilled to broaden our brokerage services offering,” said Raymond Deux, Founder and CEO of NinjaTrader.
“NinjaTrader users have long realized that the platform’s superior analytical and automation capabilities are a perfect match for the extremely liquid forex markets. NinjaTraders’ extensibility, when combined with our Ecosystem of over 450 partners and add-on applications, allows FX traders to adapt the platform to meet their changing needs.”
NinjaTrader Brokerage clients will have access to one of the industry’s largest networks of FX liquidity providers as an Introducing Broker for FXCM. NinjaTrader clients will benefit from this relationship thanks to tight spreads and significant discount commissions as low as $.04 per 1K lot for the major currency pairs.
“Adding the foreign exchange markets to our existing futures brokerage services would appeal to current forex traders while also providing a diversification option for futures traders dealing with NinjaTrader Brokerage,” said Eliot Wickersheimer, EVP of Brokerage Operations. “A big portion of our clients value the option to trade both asset classes on a single platform with a single point of contact for all support and account inquiries, and we are happy to fulfill their demands for direct access to the FX market.”
NinjaTrader Brokerage is now accepting new clients who use FXCM as their Forex Dealer Member. Existing forex traders who use the NinjaTrader platform for live trading accounts do not need to change their brokerage arrangements.
Is Optimus Futures a trading platform?
Optimus Futures is a renowned online futures broker that caters to traders looking for low latency execution and reliable data feeds, as well as aggressive margins and minimal commissions.
What Brokers Does NinjaTrader Support?
NinjaTrader is a software company established in the United States that offers a fantastic trading platform with extensive research capabilities. In the year 2003, the company was established.
NinjaTrader is a registered NFA (National Futures Association) corporation and an introducing broker for brokers such as Phillip Capital and Dorman Trading, in addition to supplying the software. The introducing broker status means that your assets and funds are held by a broker, such as Phillip Capital, while NinjaTrader provides the platform, fees, and customer service.
We used a Phillip Capital account to evaluate NinjaTrader’s software and brokerage services for this study. Phillip Capital is a global broker authorized by top-tier financial regulators such as the Commodity Futures Trading Commission (CFTC) in the United States and the Financial Conduct Authority in the United Kingdom (FCA).
Is NinjaTrader preferable to Thinkorswim?
While both trading platforms have their advantages, NinjaTrader offers a more complete package, with a variety of appealing features for both novice and expert traders.
Advanced charting, market research, simulated trading, and other capabilities are among them. The extensive range of options, which includes the ability to trade a variety of order types, is also a positive.
NinjaTrader is an excellent place to start if you’re interested in futures or options trading. Best of luck!
Futures brokers make money in a variety of ways.
A futures broker typically specializes in a few commodities, such as grain, oil, or gold. Brokers analyze market behavior to determine whether prices will rise or fall in the near future. Brokers try to construct futures contracts based on the current market price if prices appear to be dropping. This means that instead of paying the market price at the time of purchase, the buyer must pay the current rate today. When this happens, the broker makes money and gets paid a commission. Brokers try to make deals to acquire commodities at a later date for a lower price than the current market price if prices appear to be falling.
NinjaTrader or TradeStation: which is better?
Although NinjaTrader and TradeStation are both excellent futures brokers, TradeStation is more versatile, allowing you to invest in a variety of other asset classes. TradeStation’s feature-rich interface and advanced trading tools also make it an excellent alternative for active and institutional traders. You’ll also have access to over 150 futures products, a robust desktop trading platform, powerful charting, and paper trading capabilities.
NinjaTrader is an excellent alternative for beginner traders because it provides a variety of free tools, cheap commissions, and unrestricted usage of its free platform. The ability to simulate in a live market setting, a configurable interface, comprehensive data feed choices, and free demonstration options are the brokerage’s main selling factors. When you sign up, you’ll also get a free 2-week trial.