Just when I thought I was out, futures trading pulled me back in!
My name is Rick Tomsic.
In 2002, I founded Open E Cry (OEC), an online futures broker known for loyal fans, great customer service, and the amazing OEC Trader platform.
My team and I loved OEC and its customers with all our hearts. We were very good to them, and they were very good to us.
In 2008, after six years of rapid growth, OEC was acquired by online broker optionsXpress. The connection made so much sense. Our innovative futures trading platform, coupled with their award-winning options trading platform and big balance sheet, became even more compelling for active traders.
It proved to be a great partnership. We had autonomy and continued to grow the company, rolling out new tools and adding value for futures traders every day.
But then Schwab bought optionsXpress in 2011 and everything changed.
It was clear immediately that Schwab had no interest in catering to the unique and demanding needs of highly active futures traders. So they sold our business to GAIN Capital, and after transitioning it into GAIN, the OEC founding team moved on.
Well, guess what? None of us could shake this futures trading thing.
We kept thinking of how we would serve futures traders now, if we were to do it all over again. The more we shared our ideas, the more excited we got.
So, perhaps inevitably, the OEC team is back together, and in early 2015 we will launch a new vision for futures trading:
You may ask: Is Tradovate an online futures broker? A software company? An advisory service?
But what I can tell you is this:
Tradovate will not be just another “copycat” in the futures industry.
It will be the result of hard work and big ideas for making futures trading better for active traders – better technology, lower prices and an incredible customer experience.
As we move toward Tradovate’s launch, I’ll post here frequently and will use this space to share my thoughts on the somewhat disturbing state of the futures industry, to spotlight futures traders we can all learn from, and, of course, to share updates on our team, our technology and our business model.
There’s no prize for reading this far, but we do invite you to be the first to kick our tires and stay up to date on Tradovate’s progress – just share your email address here and you’re all set.
P.S. – Whether you’re an active or prospective futures trader, or just someone interested in futures trading and the futures markets, please get in touch if you think I can be of assistance in any way. You can reach me at Rick@Tradovate.com.