EchoTrade or Hold Brothers

Discussion in 'Prop Firms' started by BoSoxFan, Dec 22, 2008.

Who to join?

  1. Hold Brothers a.k.a. Xerxes Trading?

    21 vote(s)
    39.6%
  2. EchoTrade?

    32 vote(s)
    60.4%
  1. BoSoxFan

    BoSoxFan

    OK So i've spoken with both Hold Brothers, AKA Xerxes Trading LLC and EchoTrade. From what i gather these are some of the rates for both firms:

    EchoTrade
    --.005/share --till you're doing 15k-20k then it goes down to 4/10 of a penny

    --$365/Monthly data feed

    --100% payout

    --No Training or mentoring involved

    --With a $5k deposit you get 20 to 1 intra but NO OVERNIGHT

    Hold Brothers
    --.007/share---price goes down as your trading volume increases

    --$240/Monthly Data Fee

    --Payout based on volume

    --Have mentoring, ie training through marketraptor.com

    --With a $5k deposit you get 60 to 1 intra & 4 to 1 overnight

    OK so those are some of the important points i got while talking to them. So can someone please help me decide on who to go with?? Please feel free to submit your experience with each or both firms...or any other pros/cons i might've left out.

    This will be my 1st prop firm, and although nothing is guaranteed in life, i'd like to make the decision that will put in a position to suceed. Thanks everyone.
     
  2. with 0 overnight that would be a huge problem for me
     
  3. DaveN

    DaveN

    Are Series 7, 63, 55 required? Does that change the cost structure if so?
     
  4. BoSoxFan

    BoSoxFan

    For Echo you dont need a Series 55---they dont let u trade in nasdaq.

    For Hold Brothers---it is required, although from talking to the contact person it sounded like it was more of an option.
     
  5. You need to find a firm that offers excellent training and support during your first 6 months. None of these seems to give you any solid training so I'll keep shopping.

    Solid training to me is someone to review your trades everyday, gives you classes from time to time and offers you a few profitable strategies to start with.
     
  6. BoSoxFan

    BoSoxFan

    I agree BrazilianWonder---but yet i search..and search and nothing

    I love this game and there's nothing else i want to do in my life...
    but i know i can find that firm or else i'll learn through trial & error...and of course stops will be included :)
     
  7. ??? They don't let you trade Nasdaq? Someone's feeding you incorrect information. Echotrade has no such restrictions. They require a series 7 and not a 55 because of their exchange registration.
     
  8. 3d Trading - These guys seem to open and honest on the phone. Would like to know if anyone has experience with them. No pressure in discussions, and good rates. I have not seen any FINRA complaints. Considering going with them. Believe they are a divion of HOLD and don't require a license.
     
  9. BoSoxFan

    BoSoxFan

    12-22-08 09:46 PM



    --------------------------------------------------------------------------------
    Quote from BoSoxFan:

    For Echo you dont need a Series 55---they dont let u trade in nasdaq.

    --------------------------------------------------------------------------------



    ??? They don't let you trade Nasdaq? Someone's feeding you incorrect information. Echotrade has no such restrictions. They require a series 7 and not a 55 because of their exchange registration.






    I never said they dont require a Series 7. I said they dont require a 55, which is needed to trade in NASDAQ stocks.

    I have my Series 7 so i'm good to go.
     
  10. You do NOT need a 55 to trade nasdaq.

    At Echo you only need series 7. Trade NYSE,nasdaq,options,hotdogs, whatever you want.
     
    #10     Dec 23, 2008