Discussion in 'Prop Firms' started by jmh, Sep 23, 2005.

  1. jmh


    has anyone got anything good to say about this company. i am really considering going there, but the only people that respond to my posts bash them.
    if any of you out there have anything good to say about them it would be nice to hear. or if any of you are there right now i would like to talk you.
  2. I've been with them 3 years now and am very happy. Good support, accurate. Just like anyone else they do have an occasional problem but they are quick to take care of it.

    I love the predator pro software they have for opening orders and envelopes during the day.

    Also, having a health care plan is a plus.
  3. old software, that you are charged for is not cool. risk managers are generally a pain.

    good things they are a reliable firm.
  4. tdoc


    The software is not "old", it is updated several times per year. I can't compare it to another prop firm's software, but it is more than adequate for my needs. The software cost per month is a little high, but Echo rebates the software cost $100 for each 100k shares traded per month. I have been with Echo for more than 2 years and I love the company. The risk manager is one guy. I have found him to be great to deal with. The few times he has gotten on me for violating risk parameters have been my fault and he ultimately ended up saving me money. I highly recommend the company for its stability and concern for its traders. As I have stated before, I am not a recruiter, principal in the firm, or office manager. I'm just a satisfied remote trader with Echo.

  5. what is the software cost
    for a remote trader at ECHO ?

  6. tdoc


    Like I said, a little high. I think the Echopro software (main platform made by Sterling Technologies) is about $400 per month, but I receive a $100 rebate for every 100k shares. I also use the automated add-on, Predatorpro which varies from about $175 to $225, depending on the features you want, with no rebates available. Echopro is a great platform with more power and features than I need, so I really don't know what the criticisms are about.

    Echo recently became an affiliate of Merrill Lynch by virtue of Merrill's acquisition of the clearing firm Echo uses, Pax clearing. Echo plans to start offering access to Merrill's "professional" trading platform as an option. I don't know what it will cost yet. Management tells me they still plan on Echopro remaining their main platform.

    As far as I'm concerned, I don't mind paying a little more for software at Echo and possible a rate that is just a tiny bit higher than I could get elsewhere because Echo is a great, stable firm with great support and system reliability. I get tremendous leverage with 100% payout. A high volume trader can get the software for free with rebates (except Predatorpro).
    Hope this helps!

  7. some good things:

    + they have decent financial liquidity. they aren't going to pull a worldco overnight.
    + they offer good leverage if you need it.
    + they cut checks twice per week. some other firms only do it once per month.
    + they do offer a group health insurance plan. it is not cheap but it is cheaper than being on an individual plan.

    some bad things:

    - software and data cost is higher than most other firms.
    - commission rates are higher than most other firms.
  9. Hello astocktr8r, I am interested in talking with someone from Echo about trading with them. I visited there website but did not see any direct contact names. Could you please assist me in contacting someone with management about setting up an interview? You can see my thread in 'Forex Trading' and I have a brief resume at my website through my profile links.

    Thankyou, Depth Trade
    #10     Sep 27, 2005