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Openecry commissions ?
- Thread starter fluttrader
- Start date
Psst, OEC, maybe you should try upgrading to a system that actually works. I just emailed some other firms for a commission quote. So maybe this hour outage will turn out to be a positive thing, as in I will have a system that doesn't go down on ONE OF THE BEST TRADING DAYS OF THE YEAR!!!!
Quote from ryank:
I called in an order to cover my open position. Seems they are down too, that worries the hell out of me.
I agree 100%! I called about 3 min. after it went down ~10:24 CDT, and they could not tell me if my orders were able to be cancelled or not. Spent most of time on hold. I didn't ask to place any orders, just cancel existing ones. Finally about 12 mins. later, OEC reconnects and I can see my orders weren't cancelled. This is unacceptable! OEC sold me initially with redundancy. If I have to wait over 2 min. for the trade desk to place or cancel orders for me during outages, that is TOO LONG. IMHO, anyone who wants to express their concerns should report them to the top: Rick Tomsic, President of OEC. His email is: rtomsic@openecry.com I'll be sending an email later today. Hell, I might as well start writing it now since we can't trade!
This type of thing occurs with all brokers.
1. Get a backup broker that trades the same contracts
2. Have a plan for dealing with an outage. If one broker is down, hedge with the other if needed. If the exchange itself goes down, try and hedge some other way (not always possible, but if you trade using equity index futures for example you can hedge using ETFs).
SSB
1. Get a backup broker that trades the same contracts
2. Have a plan for dealing with an outage. If one broker is down, hedge with the other if needed. If the exchange itself goes down, try and hedge some other way (not always possible, but if you trade using equity index futures for example you can hedge using ETFs).
SSB
Quote from SideShowBob:
This type of thing occurs with all brokers.
1. Get a backup broker that trades the same contracts
2. Have a plan for dealing with an outage. If one broker is down, hedge with the other if needed. If the exchange itself goes down, try and hedge some other way (not always possible, but if you trade using equity index futures for example you can hedge using ETFs).
SSB
While I agree with you, the issue is that this is a problem that is about 2 weeks old now. I have another broker that I use for options and some futures. I rarely, if ever have had this problem.
Quote from ryank:
While I agree with you, the issue is that this is a problem that is about 2 weeks old now. I have another broker that I use for options and some futures. I rarely, if ever have had this problem.
I'm not defending them -- I don't know how it could go on this long, but I will allow that sometimes random problems can be hard to troubleshoot (although not usually this hard). Remember just because it doesn't happen to your other broker now doesn't mean it won't in the future :eek:
Quote from ryank:
While I agree with you, the issue is that this is a problem that is about 2 weeks old now. I have another broker that I use for options and some futures. I rarely, if ever have had this problem.
I was considering this broker, 2 weeks is TOO long to have a serious problem, let's see when it is solved
If OEC is having all these problems, does this mean that customers of their IB AMP Futures are having the same problems too? My understanding is that they just license OEC's software, but the technology/servers behind the white label version of their software is different. Am I correct here or completely off?
Who wrote the trading program?Quote from danger66:
If OEC is having all these problems, does this mean that customers of their IB AMP Futures are having the same problems too? My understanding is that they just license OEC's software, but the technology/servers behind the white label version of their software is different. Am I correct here or completely off?