Echo was started by a group of Bright traders who were tired of Bright's very high commissions and their exorbitant desk fees along with their many other fees. The traders left Bright and started their own firm. I have never traded at either of the two firms, but based on friends of mine who have or still do trade at these firms, I would say you are much better off going with Echo, they aren't as greedy as the Brights. Also I have traded on Redi in the past which is horrible, and I have played with a friends Echo Pro software. Echo's software is so much better than Redi. I have heard some bad things about some of the Echo managers in NYC, but if you are remote through them or not dealing with one of these managers you should be fine.
If these are the only two choices, then Bright hands down (assuming you can get a good rate from them). As a trader who used to trade there I have all the respect in the world for Bob Bright, who is a man of his word--which means a lot to me at least... ...and REDI ain't THAT bad anymore either.
just don't try scalping or using hot keys. I recall a conversation recently with the SLK/GS tech handling the Bright account for Redi+ admitting that the software had hotkey functions for the last 4+ years and they never bothered to activate their functionality... our discussion, on recorded line continued with the frustration of how counter intuitive setting up or activating and using the present carnation of hotkeys, under the latest version of Redi+... meantime other software has had this functionality running from their beta and general releases, without fail.... hmmmm....
As is often the case here, we see responses that are way out of date....regarding pricing, etc. The facts are the facts...we have the capital, we are still Bright Trading (not "pax" not "merrill" etc.), and we help our traders make money via training and use of a lot of our capital. Jeff and Rob did well with Echo, and I have no problem with them at all.....there is just a big difference now that the "corporate types" are in charge. I welcome Jeff or Rob to discuss the differences...I may have information that needs updating as well. All the best, Don (still on vacation until next week)....from St. Thomas USVI.
Well Bobby, Tell us about the " corporate types" at Goldman , Your Clearing Firms ( First Options) corporate owner. I bet their first priority is prop traders. LOL
"Tell us about the " corporate types" at Goldman , Your Clearing Firms ( First Options) corporate owner" As Don said, some of you have REALLY old information. If you have info that is several year's old it makes u look stupid to comment. And, no, i don't trade thru Bright.