OpenECry Vs MBTrading
- Thread starter hanzahar
- Start date
Quote from hanzahar:
i emailed then and this is what they reply
.........................................................
This is our standard rate schedule.
I might be able to work with you, please advice the following info:
Initial account balance:
Daily Volume:
Contracts traded:
Look forward to your response.
Regards,
Daniel Albeit
www.openecry.com
800-920-5808 ext. 4475
sales@openecry.com
the rates varies?
i have to be high volume trader to get the commission that you receive this is confusing
oh well...
I suggest you go somewhere else, maybe IB or Etrade, where the client is bound to published rates with no chance of lower regardless of account value or trade volume. Good luck with your trading.
I would recommened Open ECry as an option in your broker search. The platform is fine in my opinion (a recent upgrade helped) and with charts and more data than you will probably ever use, it's a good combination. And you can plug the OEC data into other charting platforms as well if need be.
Why would you recommend that?!?!?
If you can get lower rates, then get them. What's the problem here? Negotiation is a part of just about any business out there, trading included.
OEC has their standard rates for the 1 lot pikers out there and you can negotiate down from there if you trade more. Seems easy to understand to me. There SHOULD be different pricing based on how much you trade. There's no reason for a 1 lotter to pay what I pay and there's no reason for me to pay what a guy that trades double what I trade.
Please wait for an Open E Cry site operator to respond.
You are now chatting with 'Chi'
Chi: Hello, how are you today?
mat: hello
mat: i would like to know the commission for emini is it 2.31 or 2.81 ?
Chi: 2.31
mat: i am from asia
mat: is it still 2.31?
Chi: Let me double check
mat: i am seeing 2.81 where else someone else is seeing 2.31 ~_~
mat: ok thanks
Chi: Please go to:
Chi: http://www.openecry.com/rates/rates.cfm
mat: yes can you please go here http://i3.tinypic.com/67d0isz.png this is what i see on my screen when i click that link
Chi: It is actually 2.81
mat: ?
mat: i am confuse please explain sorry
mat: while someone else sees this http://www.elitetrader.com/vb/attachment.php?s=&postid=1588232
mat: 2.31
Chi: Rates are different because you are in asia
mat: why?
mat: ~_~
mat: interactive brokers and other brokerage has the same rate for all nationality can you explain?
Chi: Please hold one moment
Please wait while I transfer the chat to 'Daniel'.
You are now chatting with 'Chi'
mat: i am waiting...
Please wait while I transfer the chat to 'Daniel'.
You are now chatting with 'Daniel'
Daniel: Hello
mat: yes hello
Daniel: How are you
mat: not happy
Daniel: I understand you are interested in our rates?
Daniel: Have i been in contact with you via email?
mat: im confuse why the rate differes becase i am in asia
mat: yes
Daniel: Due to some regulations and other expenses there is a higher rate
Daniel: However i would be willing to work with you
mat: it does work like that with other brokers -_-"
mat: they are also US based
Daniel: there are different relationships that require more in house expenses...But this need not be an issue
Daniel: I will be more then happy to provide you a standard rate of 2.31
Daniel: for the eminis
mat: is OEC only for US citizens? if so i'll look for other brokers
Daniel: by no means is it ONLY for US clients
Daniel: We are a global FCM....
Daniel: we are currently working closely with our counterparts to negate unnecessary expense such as...the ones we have run into today
mat: then...what am i getting different rates,wherelse with other brokers the rate is standard
Daniel: But, as i said, would be happy to lower your commission to the rate of 2.31
Daniel: we are working to negate the expenses on our end
Daniel: its not an issue...
Daniel: we are giving you the rate you asked for
mat: i feel cheated somehow...
Daniel: 2.31 per side
Daniel: your not
Daniel: your receive a rate just like everyone else
Daniel: the same rate at that
Daniel: you should not feel cheated
mat: Daniel: your receive a rate just like everyone else <--- yea but why am i seeing 2.81 all rates plus 50 cents
mat: that is a lot!
mat: it surprise me because i read on your website OEC will b providing SFE ââ¬â Sydney futures soon...
mat: and now your telling my rate is higher because im from asia -_-"
mat: im here because i like OEC Trader
mat: damn...
mat: ~_~
Daniel: We are going to be offering asia...however your rates as we are discussing right now will be 2.31
Daniel: I would be happy to send you an email where i will lay out the rates for your account
Daniel: this way you can have the rates in writting
mat: just send it to me...let me cool down and ithink about it...damn...is this how you do business?
Daniel: what is your email?
mat: tell me why should i join OEC besides the platform? ~_~
Daniel: well for one you will be recieve very agressive rates, secondly there are no additional fees, thrid we do have a far superior trading platform and lastly we have client services that are the best in the industry
mat: i think you have my email address
Daniel: please provide your email address
mat: Daniel: I would be happy to send you an email where i will lay out the rates for your account <----- what rates? standard or for foreigners?
Daniel: i will send you the email with the rates you will be receiving
Daniel: please provide your email....we do not have anyone in our database with the alias mat...
mat: XXXXXXXXXXXX@gmail.com
mat: thank you...will wait for your email...
mat: have a nice day
Daniel: Due to some regulations and other expenses there is a higher rate
True?
why does TS,IB,GF,MB dont have this problem
any idea?
You are now chatting with 'Chi'
Chi: Hello, how are you today?
mat: hello
mat: i would like to know the commission for emini is it 2.31 or 2.81 ?
Chi: 2.31
mat: i am from asia
mat: is it still 2.31?
Chi: Let me double check
mat: i am seeing 2.81 where else someone else is seeing 2.31 ~_~
mat: ok thanks
Chi: Please go to:
Chi: http://www.openecry.com/rates/rates.cfm
mat: yes can you please go here http://i3.tinypic.com/67d0isz.png this is what i see on my screen when i click that link
Chi: It is actually 2.81
mat: ?
mat: i am confuse please explain sorry
mat: while someone else sees this http://www.elitetrader.com/vb/attachment.php?s=&postid=1588232
mat: 2.31
Chi: Rates are different because you are in asia
mat: why?
mat: ~_~
mat: interactive brokers and other brokerage has the same rate for all nationality can you explain?
Chi: Please hold one moment
Please wait while I transfer the chat to 'Daniel'.
You are now chatting with 'Chi'
mat: i am waiting...
Please wait while I transfer the chat to 'Daniel'.
You are now chatting with 'Daniel'
Daniel: Hello
mat: yes hello
Daniel: How are you
mat: not happy
Daniel: I understand you are interested in our rates?
Daniel: Have i been in contact with you via email?
mat: im confuse why the rate differes becase i am in asia
mat: yes
Daniel: Due to some regulations and other expenses there is a higher rate
Daniel: However i would be willing to work with you
mat: it does work like that with other brokers -_-"
mat: they are also US based
Daniel: there are different relationships that require more in house expenses...But this need not be an issue
Daniel: I will be more then happy to provide you a standard rate of 2.31
Daniel: for the eminis
mat: is OEC only for US citizens? if so i'll look for other brokers
Daniel: by no means is it ONLY for US clients
Daniel: We are a global FCM....
Daniel: we are currently working closely with our counterparts to negate unnecessary expense such as...the ones we have run into today
mat: then...what am i getting different rates,wherelse with other brokers the rate is standard
Daniel: But, as i said, would be happy to lower your commission to the rate of 2.31
Daniel: we are working to negate the expenses on our end
Daniel: its not an issue...
Daniel: we are giving you the rate you asked for
mat: i feel cheated somehow...
Daniel: 2.31 per side
Daniel: your not
Daniel: your receive a rate just like everyone else
Daniel: the same rate at that
Daniel: you should not feel cheated
mat: Daniel: your receive a rate just like everyone else <--- yea but why am i seeing 2.81 all rates plus 50 cents
mat: that is a lot!
mat: it surprise me because i read on your website OEC will b providing SFE ââ¬â Sydney futures soon...
mat: and now your telling my rate is higher because im from asia -_-"
mat: im here because i like OEC Trader
mat: damn...
mat: ~_~
Daniel: We are going to be offering asia...however your rates as we are discussing right now will be 2.31
Daniel: I would be happy to send you an email where i will lay out the rates for your account
Daniel: this way you can have the rates in writting
mat: just send it to me...let me cool down and ithink about it...damn...is this how you do business?
Daniel: what is your email?
mat: tell me why should i join OEC besides the platform? ~_~
Daniel: well for one you will be recieve very agressive rates, secondly there are no additional fees, thrid we do have a far superior trading platform and lastly we have client services that are the best in the industry
mat: i think you have my email address
Daniel: please provide your email address
mat: Daniel: I would be happy to send you an email where i will lay out the rates for your account <----- what rates? standard or for foreigners?
Daniel: i will send you the email with the rates you will be receiving
Daniel: please provide your email....we do not have anyone in our database with the alias mat...
mat: XXXXXXXXXXXX@gmail.com
mat: thank you...will wait for your email...
mat: have a nice day
Daniel: Due to some regulations and other expenses there is a higher rate
True?
why does TS,IB,GF,MB dont have this problem
any idea?
Mirus Futures offers NinjaTrader with Advanced Strategy Management features, as well as the Zen-Fire data feed connection, which is extremely fast and reliable. Commissions are competitive while service and support are superb.
In addition, there are no extra charges from Mirus for foreign accounts.
In addition, there are no extra charges from Mirus for foreign accounts.
OP showed dislike or naivety regarding rate negotiations.
But now some light has been shed on a more important issue. In the early posts of this thread, OP was not identified as located in Asia. And it should/does not matter anyway. I am astonished that OEC verified different rates based on geography. Although OEC will equalize the issue if asked, the fact the difference exists places me squarely on the side of the OP in principal.
hanz - WHAT IS THE PROBLEM? YOU GOT THE LOWER RATE YOU WANTED!
You got what you wanted from OEC, yet you still are not happy. It took a whole 5 minutes of online chat to lower your rate. I think your time was well spent, now open your account and start trading.
Geeze.
What else do you want by posting here?
You received the explanation (costs are in fact higher at some firms depending on client location), you received what OEC is doing (working to lower these for everyone) and you got the normal rate other people received.
PROBLEM SOLVED.
A great example of why working with OEC is a good option for futures traders. I'm not suggesting they are the be all, end all, but this example is why I chose to do business there.
You got what you wanted from OEC, yet you still are not happy. It took a whole 5 minutes of online chat to lower your rate. I think your time was well spent, now open your account and start trading.
Geeze.
What else do you want by posting here?
You received the explanation (costs are in fact higher at some firms depending on client location), you received what OEC is doing (working to lower these for everyone) and you got the normal rate other people received.
PROBLEM SOLVED.
A great example of why working with OEC is a good option for futures traders. I'm not suggesting they are the be all, end all, but this example is why I chose to do business there.
There's no issue here, the fact is that OEC and other brokers, do in fact pay more for clients that are outside the US. But, as the OEC rep explained, they are actively working to eliminate these extra costs. For now, they are there, but easily removed by simply asking.
I'm amazed that there are futures traders here that do not understand that you need to at least ask for a lower rate through an online chat. It's not hard or intimidating, you just click the chat thing and explain your concerns about their commissions. Yes, there are brokers that will not budge, but for the ones like OEC, you can easily get your rate below the stated rate w/in about 5 minutes of online chat.