Echo is much cheaper than Bright. There are a lot of former Bright guys at Echo, mainly because of rates/software/blackbox access. From what I have seen Bright is the best place for a newbie to go to because they have training and Echo does not. It is far better to pay a higher rate and have someone teach you how to trade than pay a lower rate with no guidance if you are new to the game. But once a guy has it figured out and wants to take his trading to the next level they look around and seem to gravitate over to Echo. Echo does not really seem to even want newbies to the game, I have heard when people who have never traded before call in many times they tell them they should contact Bright and even give out the Bright vegas phone number. For me now as an experienced high-volume trader I also am very glad Echo does not teach classes. There have been many credible rumors over the years that sometimes a trader figures out something really good and is with one of the firms that does teach classes, and a few months later the really cool thing he figured out is being taught in the classes after the firm saw him do it and the money dries up for him as a ton of guys jump on it. I know I have had some very good stuff running at Echo for many years and still have no competition on it (I would see it on time & sales if there were). That piece of mind would be worth paying more for to me but I also pay less, so a win/win for me. Having said that though, Bright does have a lot of good things to offer, I would also tell any newbies that Bright is a great place to start. Both are very financially secure, very regulatory compliant (ie - no Tuco issues), and very straightforward about what you will get when you join. I would tell anyone that for me there are only two places I would consider, Bright or Echo. Bright if you need to learn how to trade, and Echo if you know how to trade.
I doubt this guy even trades for a living, he's just so negative in every post it's hard to believe he's living a happy life, trading profitably. If he was doing well, why would he care about other traders and what rates they pay, who cares what other people do?
Hey Naz, what kind of tools and programs does echo have? You can pm if you want, i'm not looking for anything specific just interested in seeing what they may have to offer. Thanks!
I thought this was pretty darn good for a trading forum. Ledger, Bistro and Trader.... I looking forward to uptick and arb and hedge.
Conclusion : Bright is about double in fees compared to the rest BUT they offer training and guidance to newbies > SOUNDS FAIR TO ME.
momo trader does make a good point..... since the BRIGHT BROTHERS probably used a shill to even create this thread , most of the things that trace back to them are usually hype and BS.....BUT HEY there are always news suckers to rope in!
Everything you say is negative on this forum, show me a post that's been beneficial in some way shape or form? I can show you my inbox of dozens of pms i've replied to people on this site; all of which have been objective and helpful in some way. I've traded at three firms and i'm always considering what my options are, and if i pay more what do you care? You're from MTL right, i'll dumb this down a bit It's my trading why you do you worry about what other people are doing? And for the record there are guys that trade a good amount of shares. I've been in the office when guys did a million+ in a day - as it's been said so many times over - everyone has different rates! I don't go into every single thread about your trading firm (if you do trade) and make the same redundant argument over and over.
Who cares about this, do you really have to knit pick down to the last word...an experienced trader would just treat it like a business and contact them about the rates and his/her strategy. Are you upset about the habs being shit this year?