Echotrade Problems

Discussion in 'Prop Firms' started by speculator69, Jun 21, 2002.

  1. spec and Bryan-

    I've been having problems with Echo remote too. It hasn't been horrible...but it's far from great. And I spoke with a few people at one of the offices , they said they've been having problems too.

    When I was at MBT , there was at least one problem a week. So maybe there are problems everywhere. Who knows?

    I can only say that I'm sure glad I have my $ spread over different accounts. ANd yeah I've been placing more trades at the retail broker and paying more in commissions..but the frequent outages have really left me no other choice.

    It just seems that someone would get THE best make more $. I know it can be done. I worked at 2 major wirehouse for 4years...and maybe lost data feed 4 times total.

    what can we do?
    #11     Jul 23, 2002
  2. Every firm will only designate only so many $$$ to remote traders. When profits diminish, forget customer service.

    Its all about the P&L, so wake up and stop whining. Firms conduct business on making $$$ for the firm, not the trader. Some are better, but none are going out of business to spend $$$ on resources that don't generate more profits.

    Like any business, you have to PAY to PLAY.

    Maybe setting up your own T-1 line with dedicated access to a server will solve your problem.
    #12     Jul 23, 2002
  3. Bryan Roberts

    Bryan Roberts Guest

    no that is a legitimate question....have you been trading electronically for awhile? tech problems are just part of the business. and like i said i use echo's remote servers also and have had by far the best dependability in the last 7 months, vs the 3 yrs when i was in an office with point to point t-1's with 2 other firms. i am not trying to antagonize you, who knows maybe i could even help you out.
    #13     Jul 23, 2002
  4. Bryan Roberts

    Bryan Roberts Guest

    In late 2001 echo added a T-3 line for their remote traders. since that time the dependability has been excellent!!!! that's not to say it is perfect but it has been pretty d*mn close. I am using a T-1 on my end and will concur it makes a difference.
    #14     Jul 23, 2002
  5. hans130


    I think you forgot about PointDirex. Also with great rates.
    #15     Jul 23, 2002
  6. Hans, how come pointdirex advertises .0035 per shares when in reality ECN fees and routing fees bring it up to around a cent.
    Ex. buy 200 shares of IBM how much would that cost me? 70 cents or more than that?

    #16     Jul 23, 2002
  7. Bryan-
    a T-1, T-3 , T-10 ..isn't gonna make a difference when the outages are at the main servers. I'm sure you got the electronic message "Do not send orders to NYSE" this morning. I'm not saying Echo is bad, but it could be better.
    and to the post about the firms are only out to make $...uh yeah thats my point. I'm doing small trades, small vol at echo now....I'd be doing a ton more if I didn't have to worry about disconnects, outages, etc

    again, i'm not bashing any firm....just saying that when i was searching for a pro firm i set out to test the waters with the minimum ..then as time went on put more of my $ there....but I'm not gonna do that if I'm not satisfied.
    #17     Jul 23, 2002
  8. Sorry,'re right.
    #18     Jul 23, 2002
  9. hans-
    have you had good experiences with pointdirex?
    #19     Jul 23, 2002
  10. Bryan Roberts

    Bryan Roberts Guest

    i wasn't refering to today
    #20     Jul 23, 2002