Just got an email from OEC saying they now have access to the following markets: HSI (HKEx) HHI (HKEx) SPI (SFE) Nikkei 225 (SGX) STW (SGX) ... and a few others on SGX and SFE. Can anyone with an OEC account comment on the R/T commissions and data quality for these contracts? Would love a comparison to IB, since it now looks like IB FINALLY has some competition for these contracts!
Doing a little research on their site, comissions appear to be very high. They appear to be charging $5 a side ($10 R/T) plus exchange fees. Not even close to being competitive with IB. Nevermind I guess.
Ever since they were acquired by Options Xpress their commission prices have gone up.. Plus they have a history have data freeze ups. I know bcuz I had an acct with them a few yrs ago.
Reading through old threads from 2008-2009 there are numerous complaints about data feeds going down, problems with the software after updates, one person threatening to sue them, ... etc Not a great picture, but that was a couple of years ago. Have things changed? Is the software and data feed reliable now? I am considering adding them as a back up broker based on the Asian connectivity..
From a technical perspective they provide a nice platform free of charge, robust onelink api and solid support infrastructure. Commissions and fees seem to vary... about a year ago they ran a promotion for commission free trades for life.
I'm actually more interested now to see what Amp does with its CQG partnership than what OEC is doing. OEC's commissions are too high and I found out through correspondence that they don't have depth of market for Asian markets, just bid and ask. Looking at Amp's website, it looks like they may already have connectivity to SGX, and they've promised to add the other Asian exchanges soon. I'm glad to see there's movement in this area, it's been long overdue.
Yes, I saw that offer, did you take them up on it PocketChange? I guess commissions might still be negotiable depending on circumstances... Has anyone traded with OEC through the Sierra Chart platform? Maybe I could switch between the IB data feed and OEC data feed when there are problems with OEC or vice versa.
Thanks for the info. Do you use any other brokers aside from OEC? I just wondered if it's still possible to trade in SC with multiple brokers and also easily change the data feed in SC in case OEC feed goes down.