I think that the price does not in all cases reflect the professionalism of a translator, and before rejecting a translator because of the low price requested, it is very important to take into consideration the language combination and sometimes the country where that particular translator lives.
For example, in my case, as English-Romanian translator, it would be impossible to obtain a rate of 0.05 EUR/word from a local translation agency, and quite unlikely from a Romanian direct client. In many cases, not even the local agencies can obtain such price from direct clients (very few cases).
However, it is true that this price (and well beyond it) can be easily obtained from a foreign translation company (direct client) for this language combination (of course, if you are indeed professional).
Consequently, if one looks for an EN-RO translator and that translator's rate is 0.05 EUR/word it doesn't mean that he/she is incompetent, but he/she only takes into account the local (Romanian) translation market, and in fact, he/she may be one of the best.
Please, do not get me wrong that I defend translators with low rates, but unfortunately, due to (harsher) economic conditions in certain countries (see Romania) and lack of legislation in the area of translation, very good translators may end up offering that rate.
Therefore, in this case Bin, before taking any decision, I would pay particular attention to the language combination and the country where that translator lives.
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