Discount futures broker covering most markets

Open E-Cry is an online brokerage that handles many more markets than Interactive Brokers, etc. Their commissions have been a bit higher, but still within reason. Tonight I received the following: (It’s a cut-n-paste from an HTML email, so formatting will probably stink.) Absolutely no affiliation of any kind, etc. Just passing it along. I have not used them personally so I can’t give a recommondation one way or the other.



Hans.



============================================



Hi Hans,



Give yourself the perfect Holiday Gift! As a result of our tremendous growth this past year, we are pleased to extend to you our end of the year special rates*! This is a limited time offer. Open a new account with Open E Cry, LLC between December 1st 2006 and January 5th 2007 and receive some of the lowest commission rates in the industry:



e-Minis (NQ, ER, ES, YM) = $1.90 per side! All in, no additional fees!

Electronic Currencies = $2.40 per side! All in, no additional fees!

Financials (ZT, ZF, ZN, ZB) = $1.60 per side! All in, no additional fees!

All other contracts $0.99 per side! (Plus applicable Exchange and Regulatory Fees)

$5000 account minimum required

No minimum trades per month

Free access to our industry leading Trading Software – OECTrader. Open E Cry’s OECTrader is power packed with:

Extensive charting

Full Depth of Market

Bracket trading

Trailing stops

OCOs

MOO and MOC for electronic contracts

Direct exchange connections

Upload basket orders

One click executions including flatten and reverse

24 hour order desk with no additional fees

Free Quotes

Free Charts

No Software Fees

No Gimmicks

These will be the rates for the life of your account with Open E Cry, LLC and will not change if you take advantage of this offer NOW!



Don’t miss out! This is a Limited Time Offer, fill out new account forms at the following link:

https://www.openecry.com/openaccount/applyonline.cfm



Use our software free for 14 days in full simulation mode while opening your account to experience the benefits and rich functionality that will take your trading to a whole new level.

https://www.openecry.com/platforms/download1.cfm?setuptype=Invite





Regards,



Daniel Albeit

sales@openecry.com

Open E Cry, LLC

800-920-5808





*Offer limited to self-directed online trader accounts using the OECTrader platform. These rates are not retroactive and do not apply for existing accounts. This offer cannot be combined with any other offers and is void where prohibited. This offer expires January 5, 2007. Account must be funded by January 5, 2007 for special rates to apply. Open E Cry LLC reserves the right to change rates upon an exchange fee adjustment.

All other contracts $0.99 per side!



Also for pit-traded contracts? Looks to me as too good to be true …

I am sure it is…

Open E-Cry handles most “pit” markets. However, I’m beginning to wonder if they inadvertently left out mention that the rates were for electronic only. I’ll contact them next week for clarification. My son has used them and was quite happy with the service.



Hans.

There is no way in the world they would trade pit futures for 99 cents a side. Why would they want to give a lifetime guarantee so they could lose money on every trade?



I have NEVER seen a rate like that for pit futures

No use second guessing the situation… We’ll simply see what they have to say.



Hans.

I’m surprised that they answered an email on Sunday. Nevertheless, here is what they had to say re: pit contracts:

==========================

Hans,



The special offer does apply to pit which is ultra aggressive. We hope to earn you business.



Regards,





Rick Tomsic

President

Open E Cry, LLC

=====================================

Note that the original message said $.99 plus exhange fees, etc., which are higher for pit than electronic. Still quite attractive, tho.



Hans.



good work - that is an incredible price

This is a really incredible offer! And how is it possible that the commissions for pit-traded contracts are even lower than for e-minis? And guaranteed for the life of the account?



I’ll send Open E-Cry another e-mail today and check a second time … because to me it still sounds to good to be true.

Tomme: The secret is in the fine print. The electronic fees listed in the email were “all in” - nothing extra. The “other” contracts were $.99 plus exchange fees, etc. I don’t have a broker statement handy to see what the fees are, but you’ll still probably be paying something like $8-$10 for NY softs, for example.



Hans.

I haven’t received an answer from Open E Cry yet. Looks like their customer service is lousy …

That’s a bit surprising. Altho I have not used them myself, others that have were very pleased with the customer service. Maybe they are swamped with new accounts from this offer…



Hans.