Minimum Trades Per Month Required?

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Viewing 9 posts - 1 through 9 (of 9 total)
  • 01/22/2018 at 11:09 PM #60230
    Vonasi

    I’ve had reason recently to read lots of PRT web pages and noticed something that made me question my understanding of the minimum trading requirement needed to avoid the PRT monthly fee.

    I was under the impression that this is four trades a month and assumed that it was four trades in total that are opened and closed within the month. Having read some of the pages it seems that I am wrong and it is four orders to trade so two trade entries and two trade closures is the minimum required for example. I know that PRT also take into consideration the value of the trades and can charge at their discretion if it seems someone is abusing the system but can someone from PRT confirm what the minimum requirement definitely is – two opened and closed trades or four opened and closed trades or even just four opened positions or three opened and one closed qualifies? I only ask because I would hate to one month find myself in a position where I open a trade unnecessarily just to avoid the monthly fee.

    01/23/2018 at 9:42 AM #60246
    verdi55

    4 trades, that is 2 positions opened and closed.

    01/23/2018 at 3:38 PM #60337
    Vonasi

    OK that is good. Now the next question…. I am in the process of trying to set up a PRT sponsored IG account so that I can get free access to the Premium version of PRT (and boy what a faff that has been – phone calls, live chats, emails galore but I won’t bore you with the details right now) . So I think I now have a new account but cannot at the moment get PRT at all and if and when I do then I’ll have to transfer my balance over and all my indicators and strategies and then set up all my forward testing again. So while this is happening I will have two PRT platforms running on two accounts so do I have to meet the minimum requirement on both accounts or will I just need to meet the requirements once as I own both accounts?

    Why PRT or IG can’t just flip a switch that sets my original account to Premium is beyond me.

    01/23/2018 at 4:17 PM #60339
    verdi55

    PRT and IG accounts are completely separated from each other, and you will need the minimum amount of trades on both of them.

    The reason is that the deal between IG and PRT says : on a PRT account PRT will get part of the fees normally going to IG (look on your daily statement), and PRT will do customer service for IG in exchange. It is better to keep the IG account, in case you need to call IG, because when you call them with your PRT account number, they will normally refer you immediately to PRT.

    If you should not meet the minimum trades, just trade 2 positions in the DAX mini 1 Eur contract, with target 0.1 points and stop loss 2 points. This will not cost you more than 4 Euro.

     

    Buy the way, with a PRT account, you can get more than 16 months backwards even in a DAX 1 min chart, when you load 200.000 bars first in a 3 min chart, then 200.000 bars in the 1 minute chart and then switch your customized trading time to 7:00 to 16:30 UTC. Then you will have data ranging back to September 2016. You only have to be careful that indicators show identical values in these reduced trading times, but most of the time, they do.

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    avatar GraHal
    01/23/2018 at 6:45 PM #60343
    Vonasi

    Thanks for the information verdi55. At the moment the opening of the PRT IG account is proving to be a lesson in futility. Such a simple thing appears to be made as difficult as possible and I have reached the point of writing angry emails.

    01/23/2018 at 8:48 PM #60349
    AutoStrategist

    Hi Vonasi, that was the same frustrating experience I went through setting up a PRT account with IG, emails were getting nowhere, I ended up making daily calls until it finally got done.

    01/23/2018 at 10:35 PM #60352
    Vonasi

    Thanks for letting me know that AutoStrategist. I was beginning to think it was just me. PRT have had a very nice American lady phone me several times but it seems at the moment that all the problems are on the IG side. Many live chat conversations and emails to and from them have so far opened an account but only once I had provided a different email adress. But this account is without any access at all to PRT.

    How such a simple request can be so badly handled astounds me in these days where every business strives for the best customer service. I think that I now need to email PRT yet again and ask them to put Premium on the account.

    Unbelievably in the middle of it all IG sent me an email asking me to fill in a survey. I’m not sure they would actually want to hear my opinion right now!

    The whole process seems ridiculously complicated. Once I have got the account open and then got PRT to put Premium on it I will then need to move my balance over and then all my strategies and indicators while ensuring that I do the minimum required trading. It is hardly a user friendly process. Hopefully after losing three or four days of my short time on this spinning globe to it it will be worth it.

    01/24/2018 at 10:32 AM #60375
    klaus

    I’m using IG and PRT in Germany. Just recently they changed conditions. Before it was just 4 trades as already written here. From last december on you also need a minimum amount traded. Two one euro trades are not enough. Just now I don’t know where the limit is.

    01/24/2018 at 10:45 AM #60376
    AutoStrategist

    @Vonasi Exactly what I went through, PRT were really helpful, IG not so much, you need to persevere, they get there in the end.  I did complete the survey and pointed out to them the areas for improvement so they are obviously not following up on their survey feedback. Having to use a separate email address is also a complete nonsense in my opinion.  Below is an extract to IG Helpdesk during my travails last May and considering how I felt at the time it was severely toned down.

    ‘This obviously got passed to you so don’t take this personally but IG Helpdesk need to get a lot better at what they do, full notes of client calls should be appended to accounts and people should follow up when they say they will.  I made my first call to IG about opening a new account to use with PRT premium last Tuesday and have made another 6 or 7 phone calls since as well as sending several emails.’

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