If your account drops down to 5k at Echo, you either have to put up more money or they will shut you down. You get at least 10 to 1 leverage if you have 25k in your account at Echo. It could be more depending on your experience. And yes, they do hold your funds for 1 year after you close your account.
If you have experience, that changes my offer fundamentally, especially if you can provide any kind of account statements for proof. If everything you said is true, and you can come up with 5K, e-mail me your BEST OFFER, with all the details attached, I will make very sure that I beat it cleanly. I do not recommend going into Echo with 10K. How long have you NOT been trading? I can tell you the past 2 months make the beginning of 2001 seem like . . . 1999 . . . If 10K is all you have, be very careful, you may get smacked and you will be in a very bad situation. Remember, lose 5K and you are out. See the title of this thread? We are in a CHALLENGING TRADING ENVIRONMENT, fully capitalized, and I had one down month last year, and it was $500, and I have top tier consistency even if I don't put up top tier numbers. I can tell you, it is tough if all you got is 10K. If it is possible, e-mail me, and schedule an interview with me one more time, if you have the record, Walter will eat those other guys alive as far as the rates are concerned. He doesn't care if he has to give you whatever to make you trade at Worldco. The way he does his math is, if he can take one good trader away from another firm, he will rather make less money on him than having him working for a competitor. He will go into a price war against anybody on the street. ***Why not go to a place where you can get the same fee rates*** Fact: Don could not make me a better offer than what I currently have at Worldco. He tried to outbid me with dimes but he could not beat my rate. ***And not have to give away 5% of your profits?*** Fact: I give up less than that, and I have a lot less capital tied up versus the size I trade, it is worth the minimal difference. ***A place that as a cleaner environment*** Fact: Our 100 Wall Street building is as good as any where else, but right now working on the same floor of Walter changes the game entirely. ***Better equiptment, etc?*** Fact: My team has sufficient monitors, First Alert, Bloomberg, I don't know what else do I need, kitchen sink? Last but not least, Worldco offers the best team leader deals, and I recommend every team leader out there give us a call. You will not regret it.