Fast but Flawed
* Quick executions
* Fantastic fill communication
* Quick response to questions
* They add every newsletter out there.
1. They are liability-free. That is if they mess up a trade, you - not them - pay for that failure. I started also trading with TradingBlock because they told me in the event they screwed up an order - they would swallow the loss. I haven't asked other brokerages, but I would guess they have deeper pockets to handle such rare events. That alone helps me sleep better. (That being said, GAT has never messed up an order for me).
2. They don't want large accounts. I've got an account that is largely sitting in cash, but over 100k. They are now taxing me on that additional cash. I can't really fathom why since (viz-a-vie #1) they don't accept any additional liability. Trading 1 contract or 100 contracts should make no difference to them. Its no additional work. Worse, they don't even tax me on the cash I put to work through their system but the entire value of my account. So if I want a cash reserve - thats taxed. They found a way to get more money from larger accounts.
3. In some instances - they may just not trade your account. I only experienced this once. But I was informed by GAT that they decided they were not going to create an order for a trade alert issued by a newsletter I subscribed to. This affected everyone one at GAT using the same newsletter. Their recommendation was that I work with the provider to come to some resolution. First, this is exactly why I thought we were paying GAT... so we don't have to be involved. I expect them to get on the horn and resolve the issue. If the alert was not clear - get on the horn. If the alert violated some allocation limit - get on the horn. Secondly, during this instance, all other autotrading services did not have a problem with the alert - just GAT.
4. This probably goes without saying - but GAT is interested in the easiest fill not the best one. They are not going to work a fill for you unless explicitely directed to by newsletters. So this means some newsletters are less optimal to work with. Its really cool that they follow 7MinuteTrader, but they always go for the lowest/easiest fill (I have no option). I can't imagine how 7MinuteOption would work since many times I have seen alerts to get out at x.xx or better and the market never made it that price after the alert.
I want to love GAT... in fact a year ago I did. But these recent changes that have me paying more for less leave me nervous.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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