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Date/Time: Tue, 23 Apr 2024 19:17:02 +0000

Post From: New Sierra Chart Futures Order Routing with Data Service (Available)

[2019-03-22 16:11:11] Link To Thread - Link To Post [Go To First Post]
archymede - Posts: 16
Regarding post #56, Does that mean that all the fees would be taken from the Sierra Chart balance (exchange data fees, number of symbols requested and 0.1$ per side per contract) ? On the website it's written that there's a need of at least a balance of 25$ on the account to be able to use the routing service. Is this amount the minimum required at any time ? What happens if we, for example, forget to fund the account balance which has only 0.1$ remaining on it after x trades (0.1$ is enough to open a trade but not to close it...) ? I was planning to use this service that I really find great, but having to pay everything from the Sierra account, or even from a credit card, instead of from a trading account is making me thinking twice if not more for various reasons mentioned in the post #57 and the ones below: 1. Deducting the expenses will need more justifications to be fiscally accepted, 2. There might be a legal issue, at least in my european country, because if one wants to deduct these expenses, the fiscal services would then legally consider the transactions out of law. That because the act of funding the Sierra Chart account is considered as a purchase of direct services and therefore subject to VAT, which in such case wouldn't have been declared nor paid by the user. This can certainly mean extra expenses and a possible need to pay back the VAT (extra 20+% expenses, which wouldn't be the case if taken from a trading account). 3. Paying from a credit card or adding money to the Sierra chart account all the time leds, at least for me, to quite expensive fees due to currency conversions (3% per transaction at least) and so, here again, extra expenses that are unfortunately not welcomed since everything adds up very quickly. I understand that "brokers really do not want to act as payment processors" but isn't that already the case when using cqg, rithmic, cts just to mention a few ? I really wish that it would be the same as using competitors solutions where everything is directly paid from a trading account, or at least that we could monthly fund the Sierra chart account directly from a trading account so as to tackle those difficulties. Is there at least anything being considered regarding that ?