how is the execution quality at both echo and bright? are they fast? are they routed directly to new york for listed? also how fast are bullets executed?
Tsheehan, I just had a conversation with Rob at Echotrade. He told that me their software is one of the best in the industry. That don't use Rediplus or Realtick but developed their own software. Their ambition is to be the best in the industry... To set up a bullet takes on average 1,2 seconds... If you have more specific questions I would call Echo and ask for Rob, he will be more then willing to help you ! Regards.
execution quality and charting quality are so not important... yes if you think they are very important to you and feel this way, I stand corrected. However don't expect your bottom like to change either way. If you make oodles of money one place you will make the same elsewhere, if you lose at one place no amount of software, screens size and number will change that.
There are some other threads on here about Echo and execution. If you do a search you'll see nothing but rave reviews about their speed of execution. Since this is your first post, I don't know if you know that you can click on 'brokers' at the top of the screen and you'll see ratings of all direct access brokers.
For what it's worth, they did not develop their own software. They use VTS-Virtual Trader developed by Virtual Transaction Systems. With any other broker, the VTS platform is widely considered a POS (that stands for piece of sh#t) compared to Realtick, etc. However it has been argued pretty successfully by Rob at Echo and Rtharp on the other threads that VTS's less than stellar reputation was based on the quality of the tech infrastructure used by the rinky dink brokers who leased the VTS platform rather than the platform itself. In fact they-and other traders at Echo state that the executions are awsome using VTS at Echo.
my second hand opinion(for what thats worth) I talk to someone who is w/ Echo...and he told me that the echotrade software really blows for charts(and when I say really, I mean lewinsky style baby) but the execution is just as fast or faster than others, so what he does is use echo for order entry('cause thats where the acct is) and another vendor for charts etc... I think that kinda sux, but what can you do? We can b*tch all day and maybe Jeff will do something, or we can except the fact that there is no other place that you can get pro margin with a 10k minimum, bullets, etc(until Bright lowers limit and goes remote, which is funny when you read all his past articles where he is against that) so I have a Realtick acct(terranova) which I love but am limited because its <25k...what I might do is try to keep RT3 and have Echo too, do I wish I could just go Echo w/ better charting ? "make no mistake about it" maybe I wait for Bright's remote stuff...I don't know....for me charting is important so for andrasm to say it's not , well maybe not for him, but I have my system and it works for me, so I need GOOD charts, not some crap that can't even put up a simple mov avg... so rtharp and other echo guys might say echotrader is ok, but are they using it? no, from what I hear they're all going w/ FA...so why not just offer that at better price? I'm not bashing anyone, I just tell it how I see it, and I'll admit it's not always clear.