I don't know how reliable that is. I don't know anyone paying fees that high. Hell even Don Bright is down to 35 to 40 bps now. And Don set the standard for high rates. Just kidding Don... Seriously, be careful with here say on this forum. If you want to get a rate quote, just call T3 directly instead of some guy on a message board.
if a trader has no clue to what competitive commissions are then they prime targets to be overcharged by any firm they will take whatever is offered unless they know better Now good ol bright still does get top commission in the prop biz they have not dropped their pants like every other firm to get traders they are probably the most profitable prop firm around
Mav and you are pretty well informed about the industry. And I respect your opinions. We feel, that it does take some money to give security and legality for the traders. Our rates, at the standard shelf rate are .005 and .0025, so Mav has it about right. I checked with our 2 real competitors, and we are even lower than they are. Sure, there are some other firms with lower rates, and many don't understand the ticket market used by Swift and other Canadian type firms, but in all sincerity, we're pretty competitive, especially in 2012. We have $million traders who know exactly what the other firms charge. We had one leave a few months ago, just to return in January. These are smart, wealthy guys. I may not be so smart, but these guys are, and they like it here. Maybe a few mil's but, likely not, again, against the other 2 primary firms. These "other 2 firms" are run by friends of mine, they know who they are, and they even send people our way for training etc. And, Mr. Maverick and HitnRun are absolutely right. Call the firms, don't listen to hearsay and bashing for or AGAINST Bright Trading. I'm very confident in our offering, from training to fees to security, to not holding money for 12 months, to weekly funds withdrawals. (sorry, Mav and Hit, got a little carried away, LOL). BTW, best month (Jan) for our traders in a couple of years, I'm am really proud of them. Many listened to what we had to say at our Retreat in December it seems. All the best, Don
Don, there are other firms out there and I'm hearing from a little birdy a few more might be on the way. Don't get too comfortable in that rocking chair of yours...
Give me a call when you can. I know you're on top of all this. My birdies say a completely different story. But, in all fairness, let's chat in private, thanks. Thanks, Don
LOL, actually when I bought this house (from a long time friend of mine), there was a sign in the back yard that read "Bird? What bird" - yep, we have real birds, and we also have "people" who call me with "scoop" - of course I don't spread details, and I don't even put too much credence until I see actual things happening. The "birds" were right a few years ago, regarding other firms (too bad actually).... but we'll see about some of these guys. I'm aligning myself with you and HitNrun regarding some of these unregistered firms. And, as you noted, who in their right mind would start a prop/pro firm in this environment, especially from scratch. But, in all fairness, there may very well be some smart, rich people willing to jump through all the hoops...and I may "know nothing" as they say. We'll see, my friend.... Don
Donny, maybe someone read my "The Perfect Prop Firm" thread. I was afraid that might happen. Someone read that thread and ran with all the great ideas that were tossed around. Amazing things can happen on ET!
I'm glad to have another real professional firm join the team. And, yes, I mean "team" - I speak often with E and G, and will be glad to include whoever else wants to join in. For 20 years, I have found it mutually beneficial to speak with ETG (Bob Kantor and Jeff), even your pal, Mr. Braun, Ron S. and a few others. And, FWIW, I respect, very much, your former group at VTRader. At this point in my life, I like to act more like an ambassador for the industry. Help where I can, stand aside when need be. I hope you're part of a new group, seriously. We need more real people involved vs. the "posers" as our Canadian friends call them, LOL. Don