I am looking to swith to a broker that offers pit contracts. Also, I'm sick with IB's reliablility issues from time to time. I've talked to Open e-Cry and they offered some decent rates, but there isn't much information about them on here. I use Tradestation software, so swithing to them as a broker would be logical. Any opinions/suggestions would be appreciated, as would posting rates. Thanks, Gerry
You might start by reading this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=27331&highlight=refco They definitely offer access to pit contracts, but there are a number of different trading platforms. The firm is huge now, as it has acquired so many smaller firms; the product matrix is consequently a bit of a jumble. So you'll need to do some research to figure out which platform is right for you (Refco Pro, Refco Express, eSignal @ Refco, VelocitEtrader, etc). Some are fee based, some are free, some offer electronic trading only, some offer both pit and electronic. By all accounts, though, REFCO system reliability is second to none. saxon
Flat out rocks! I had no platform reliability problems at all during Wednesday's FOMC announcement collapse in the ES, NQ, and ZB. Great research that you can access via their website too. VelocitEtrader rates are $4.00 per round-turn for the stock-indexes, and $5.00 per round-turn for bonds. Pit traded commodities command higher rates.
Thanks saxon, waggie, and fast trader. I havn't looked into Refco too much, mainly because, when I did in the past, I couldn't find any rates posted on their website. I could've called them, but we all know that means weekly follow-up calls for about two months. I should clarify something though; I am not a daytrader like many here. Rates are important, obviously, but I don't need any exotic trading platforms; TWS does just fine for my trading. If my memory serves me correctly, the e-Cry rep told me he'd match IB's rates at $4.80 and pit trades would be $12. Again, thanks for the replies. Gerry
Open E-Cry offer pit traded contracts, their rates are competitive and their software is intuitive. I will very probably move some of my business to them later in the year. Their Justin Rucker has been very helpful and has responded well to my questions. I seem to recall that they also have the inimitable Mark Brown on board in some capacity, which lends them some more cred. Do an ET search - there are other threads on ET about them.
I've talked with him several times and he does seem like a good guy. He definately helps them by giving them a good customer service rap, something that seems rare in this industry today (like IB). I am comforted that Open e-Cry has some fans here; I hadn't heard of em before about 3 months ago and wasn't sure about them. I have been leaning their direction but wanted to get some opinions before I switch. It seems that that the most common brokers for pit market traders here are e-Cry and (recently) Refco. Does anyone have perspectives on any others, especially Tradestation? Again, thanks to all who replied. Gerry