Bright fees are higher, that's why I switched to Echo. You will pay .01/share and then get a rebate once a month. Mine was .003 so my effective rate was .007. But they will let you hold up to 30:1 overnight IF you're hedged.
Not taking the day off, just spending time with a couple of guys coming over (3-Million shares each, nice guys). Anyway, overall package must be pretty good here regardless of what some may say. With hundreds of traders using dozens of varying strategies, we do our best to accomodate everyone's needs. This is obviosly not the best place for any serious negotiation. As with the guys above, all I ask is to bring your sheets and we'll chat. Bottom line is what's important. Don
I am confused...are people questioning the 3 million shares traded/month? I know guys who easily trade 500k-1 million/day (prop).
Not really. That was an all in rate, so I didn't have to worry about ECN fees. It's all relative. For my style of trading, I chose to go with a cheaper rate with ECN fees/rebates passed thru. But the original poster said he traded pairs. Bright probably has more profitable pairs traders out there than any other firm. Everybody (not you) likes to beat up on Don, but Bright is a solid firm with competitive rates. How many threads here on ET talk about getting screwed/not payed by their frim? I've never run into anyone that could say that about Bright.
Thanks for you reply Arnie and Steve. Just reading about Bright trading. They pay credits on short balances and have smaller haircuts for overnights than other firms. Perhaps this explains their slightly higher rate. For scalpers Bright probably doesnt make sense, but for overnight pairs trader holding position for days or weeks, it might. Just my thoughts. Still looking for a good firm to move our office to. Our small office does about 5-7 million a month. We are considering the offers we have received and will make a decision in the next month or so. PM me if you want to discuss. No sub LLCs please. Thanks.