Open e Cry account from Europe

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Sentencia

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Hello.

i am from Spain (Europe).can anyone tell me if i can open a acccount with OEC since my country to trade??thank.Resgard
 
Thanks to both,i can open a account according OEC web but it says that accounts from Europe has to pay $0.35 per trade more than USaccounts, so for example if a trade mini SP 200 trades per day i will pay roundturn $6.1,i think it is so high price for a scalpers (n)


mshwj said:
yes, you shall. I am from Taiwan and have an acount of OEC.
Click to expand...

(y) then,do you pay any extra fees as a european accounts to trade from Taiwan??.

Resgars.
 
Yes, I pay more for foreigner fee. Most contracts are around 6.X US per round! For day trade, it is much cheaper than Taiwan's broker. In my experience, US broker fee is around 5.X~7.X. But some broker request data trasfer fee or platform fee per month. OEC do not need these 2 kinds of fees. If you have OEC account, you can get any real time chart for all of their contracts. But the fee for contract overnight is high(not day-trade contract).
 
Sentencia said:
Thanks to both,i can open a account according OEC web but it says that accounts from Europe has to pay $0.35 per trade more than USaccounts, so for example if a trade mini SP 200 trades per day i will pay roundturn $6.1,i think it is so high price for a scalpers (n)




(y) then,do you pay any extra fees as a european accounts to trade from Taiwan??.

Resgars.
Click to expand...

Where is this written? :-0

I'm in the UK and I pay $5.80/RT
 
Online Futures Trading - Open E Cry ™ Rates

it says: "Commission rates in the table above are quoted on a per-contract, per-side basis. Trades at some foreign exchanges may be subject to additional fees. The table above does not include customary NFA and exchange fees. Positions held overnight generating a full exchange margin will be charged an additional $0.20 per contract. Accounts held outside the US will incur a $0.35 Foreign Service Fee per contract."

And i sent a mail:

"Could you tell me how much is about "NFA and exchange fees" per contract or roundturn??

And,because i am from Spain (Europe),i would pay $0.35 per contract too,right?

Thanks.Resgards"


the response was very fining:

"All fee included is 6.10 RT. If you have more questions on commission rate you may contact [email protected]

CHI WU.
.



Regards,"

I want to pay $5.8 RT too¡¡¡ Maybe with UK sccounts is different,i dont know why.
 
Last edited:
I think key point is the "clearing" fee.
For example for COMEX and NYMEX, the clearing fee is US$ 2.9 /RT
If adding commision 2.7, foreign service 0.7, and NFA fee 0.02, COMEX or NYMEX contract it will be US$ 6.32 /RT
But CME clearing fee should be difference.
 
But here Online Futures Trading - Open E Cry ™ Rates the dont say about clearing fees¡¡?? i dont know if clearing fees is already incluyed on Chi Wu´s mail.

then, what does this tool reality usefull??? OEC Rate Calculator

i am lost,i think Interactive Brokers has lower RT,all fees incluied, than OEC,as for example trading SP500 Future, but IB charges sometimes some stranger fees and commission that i cant understand fully, complex pricing policy.i will never know all about commision and fees
 
Last edited:
Yes, I can not find the clearing fee on OEC web. Each Exchange have difference clearing fee. You may ask sales or Chi Wu more detail. If you need, I can send you my daily trading statement. The statement list related fee of each trading.
 
Sentencia said:
Online Futures Trading - Open E Cry ™ Rates

it says: "Commission rates in the table above are quoted on a per-contract, per-side basis. Trades at some foreign exchanges may be subject to additional fees. The table above does not include customary NFA and exchange fees. Positions held overnight generating a full exchange margin will be charged an additional $0.20 per contract. Accounts held outside the US will incur a $0.35 Foreign Service Fee per contract."

And i sent a mail:

"Could you tell me how much is about "NFA and exchange fees" per contract or roundturn??

And,because i am from Spain (Europe),i would pay $0.35 per contract too,right?

Thanks.Resgards"


the response was very fining:

"All fee included is 6.10 RT. If you have more questions on commission rate you may contact [email protected]

CHI WU.
.



Regards,"

I want to pay $5.8 RT too¡¡¡ Maybe with UK sccounts is different,i dont know why.
Click to expand...

I joined around 3 years ago and you know I couldn't find that page :eek:

I never clicked on the green link, I thought you had to submit a request so I called up the office and spoke directly to a sales rep.

Anyway, I just used the rate calculate and I get $2.35 per side :-0

Add 0.35 foreign fee and I get $2.70/side

Even if I add $0.15 because I trade with Excel not OEC trader I get $2.85/side

Why am I paying $2.90/side? :mad:

I will have to find out more...3 years ago I just wanted to start trading, now it's all about the money! :mad:
 
Hello people,

What about your experiences with OEC? Are they a good and honest broker?

All replies will be appeciated. Thanks!
 
Hi

I'm looking to open a futures trading account to day trade, I'm using spreading betting but find it too expensive. I have had a look at Mirius futures and they charge around £3 for a round turn on the FTSE futures.

Does anyone have an idea on what kind of exposure/risk 1 contract gives to me on the ftse? I have around £5000 pounds that I would like to start with but am wondering if this is too little to trade the FTSE Futures? Would like to hear peoples opinons?

Thanks
 
new_trader said:
Sure, they pay profits.

Tell me how I can find out if they are manipulating prices to touch my stop loss? etc
Click to expand...

Dear new_trader, I was looking for a good broker for commodities & futures trading. Then I found GCI trading company, but then people who had experience with this company told that they had many difficulties in taking their profits. The company was so reluctant to pay their customers' profits. So I wondered if openecry was a ggod payer or a bad payer. But you say they pay profits. According to your expression, I understand that they pay the profits right away without problem. I am sure you are telling these according to your experience with openecry. This is OK.
Secondly, you know that some companies in forex brokerage "create" some instantaneous spikes in prices, just to engage your stop loss. This abnormal prices do not exist in the real market conditions. This kind of manipulation is usually called "stop hunting". If you suspect stop hunting, you can search the prices of some other brokers, the prices can be clearly seen in the charts as high-low-open-close. For the "etc." part I can give the example of platform freezing, which is adopted by many dishonest brokers. They do this deiberately when you are winning, you can not close your position until you lose. I wonder if these kinds of manipulations and tricks is possible in futures and commodities markets and if openecry adopts them, according to your experience.

Thanks a lot for your kind interest.
 
Open E cry futures doesnt stop run, they have no incentive to do so. They are not counterparty to your trades
Open e cry forex might stop run, since they are counterparty.

I am with open ec cry and get $4 round turn ES
You need to find the right contact person
 
savastekin said:
I wonder if these kinds of manipulations and tricks is possible in futures and commodities markets and if openecry adopts them, according to your experience.

Thanks a lot for your kind interest.
Click to expand...

Oh, yes! When I first started trading with them they were very dishonest. Every time I put on a position they would take out my stop :mad: But, with time I found that the more I studied and practiced the more honest they became and they started to give me more profits. I think you will find this happens with most brokers. ie/ The better you get at trading the more honest they become. Try and find a broker who specifies in their Terms and Conditions: "11a. We will only be honest if you are a good trader."
 
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