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)
  2. EchoTrade?

    32 vote(s)
  1. dve250


    Yeah but how about a trader who has a strategy that makes money but doesn't want to <I>risk</I> a deposit that size when they can go elsewhere and only <I>risk</I> $5k. For that size deposit I would open a retail account and have the SIPC coverage that Don doesn't provide.
    #21     Dec 23, 2008
  2. A couple of points to make. It's up to the traders as to how much money they "risk" of their account, not us. And, SIPC does not cover enough to really matter to our traders, that's why we place $10million (minimum) cash into the traders side of the LLC.. just for their comfort level.

    For $25K, retail, you are still extremely limited in what you can do.

    (Not being argumentative, we've addressed these issues many times in 30 years, and "to each his own").

    If you can work your strategy with $5,000 then please go ahead, make some money, be a long term trader...that's what's all about in the long run.

    All the best,

    #22     Dec 23, 2008
  3. BoSoxFan


    If a trader is willing to trade remotely would your company be

    1) willing to bring down the minimum to $5k?
    2) Still give that trader access to all of Bright Trading's education tools?

    My rationale is that if a trader has his own set up at home--thus lowering the co.'s cost, this will bring down the mini requirement.

    Just a thought---
    #23     Dec 23, 2008
  4. Check out Erik Kolodny
    #24     Dec 23, 2008
  5. BoSoxFan


    who's that?
    #25     Dec 23, 2008
  6. #26     Dec 23, 2008
  7. Remote traders do have a lower cost basis, but that has nothing to do with initial capital requirements, sorry. Probably 70% of our people trade remotely.

    #27     Dec 23, 2008
  8. What about

    90% pay out


    .0003 - ECN

    $75/month for software etc

    great 1-1 hands on training

    50-60% success rate within new people

    $5K minimum

    50-1 leverage

    series 7 needed.

    What do you guys think of this for a n00b? it sounds good to me because I need hands personal training and I don't feel like dropping way more than $10K, let me know what you guys think
    #28     Dec 23, 2008
  9. I was Echotrade for awhile. My complaint is that the training was poor.

    I'm not going to lie to you, I learned a few things about trading while I was at Echotrade, but ultimately, I wanted to trade my own style (with over 25k I switched to IB and do it from home now).

    If there is no training from the firm, honestly, all you really are getting is a retail trading account with 70 to 1 leverage, and, getting charged a bunch of fees, and a relationship that doesn't really mean anything.
    #29     Jan 23, 2009
  10. 70:1 leverage, can you do that with an online broker? not
    #30     Jan 23, 2009