I do not think that the "tools" that are coming out for the ECHOtraders are the holy grail by any means, but if it helps me make a dollar more you will not see me complaining.
Gene, It is about time that firms start figuring out where to squeeze money out of, other than commissions. Because, you know as well as I do that traders are disappearing faster than a market bottom! Also, are you saying that a prop firm cannot survive by offering .005 per share? _Pound
Also, are you saying that a prop firm cannot survive by offering .005 per share? Lets put it this way-Professional stock clearing and trading has alot more "risk" than long distance service. You can't sqeeze blood out of a stone. Gene Weissman Lieber & Weissman Sec., LLC gweissman@stocktrade.net
That was my point. I wouldn't trust some of these low cost providers with YOUR money much less my own. Cost should not be your only issue. Capital and stability should be factored in. (Don, insert comercial here). I do not think a prop firm can survive on half a cent a share in the long run. Debit risk is too great.
i trade for a firm that charges me .05 cents per share. i only trade listed, so the only other fees i incur are sec fees, and bullet charges. no desk fee, no hidden charges. they provide a very reliable order entry system and allow you to choose from several different data providers for your software... i.e. track data, realtick, first alert, etc. they have 3 full-time tech guys on staff, a receptionist, and a manager, all in a very nice office. i have no idea how or if they make money and provide all these services with such low rates. however, i put down a very small amount of capital to start trading, and pull out my profits on a regular basis. worst case scenario, i lose the small amount of capital i put down. why would i want to trade somewhere else?
i pay 1/2 of one cent, but i do remember the days of paying 2 cents per shares. i'm not on this thread to advertise so i'd rather not post where i trade.
I know its only been a month since this announcement, but anyone know when we'll see new software releases and/or get access to the van buren trading tools? thanks in advance uptik2000