Wow, once again it seems that a great deal of excitement has been raised about very little. I have just been observing the posts, waiting for a lull in the storm. There are different business models in the trading world, some are better than others, and we won't know which works the best for some time. And different models can co-exist. I can make a couple of comments. Again, I can thank those of you with other firms for bringing to light the areas where we needed to make changes for our traders. We have full 100% payouts with as little as $15K in the accounts. We have cut haircut charges significantly for all traders. We have given free haircut up to $500,000 (or 20 times equity, whichever is higher) for conversions. We have cut NASDAQ costs by a bunch...now a Penny or less with NO TICKETS, NO ECN Fees, etc. We offer "low money" entry for experienced traders, and "no money" entry for interns from Universities (we have programs in many schools). The Schonfeld model of employee traders, although viable for a while, has proven to be a problem for quite some time (for the firm and for the traders). More aggressive "recruiting" practices (i.e. attempting to Pirate traders from other firms) shows just how desperate some firms have become. We try to recruit by "attraction" and have done pretty well, as shown by our continued growth (due to the profitability of our traders). We haven't really thought much about WorldCo to this point, and wish them well in their efforts to "grow the industry" by adding new traders, not stealing other traders. If they begin that practice, as others have, then they will simply fall into another category of trading firm. Our success should speak for itself, and I don't see Gene out here causing trouble, and sometimes if we let well enough alone, the marketplace will shake out the less competitive. I am posting our new 2002 pricing and benefits for you all to see today. Check the site.
Once again, Don is on his high horse. The truth is I have gave you my stats and you failed to come up with a better offer, I have answered every question Kirk threw at me in detail, and there you are, running the same lame promo. I welcome anyone from any other firm to show us what they have and we will beat it, as simple as that, that offer stands.
Don- I couldn't open the link on your site. For some reason that site seems to run into problems. Sometimes when I go to it, the sites graphics are all at of wack, and sometimes it freezes up. I've never had that happen with any site. Not trying to bust on ya, just pointing it out so if other people have the same problem, you can get someone to fix it. Do you still have an office in Saratoga Springs, NY? Thanks Uptik
There are firms out there that require less than $25k to trade for your self...one of them that i know about is Echo..... http://www.echotradeonline.com/chartpicks.htm
Why the negativity? I thought I was being nice about WorldCo....?? Why would the owners of WorldCo (you?) or anyone else want to get into a "price war" ?? Let the traders decide for themselves when they have all the facts. Our prices are excellent, and we have a very strong company (same clearing firm since 1978), and all the other benefits that traders are looking for. I assume that you offer a good portion of traders the same or similar opportunities, and we, of course, have some of your ex-traders who haven't said anything particularly negative about your company. I am even willing to send information about "rogue" traders (as I do to the other firms already) if you like. I really don't think that our overall business models need to get so nasty with one another. I just don't like "pirating" and if you check the legal actions in place in NYC and Chicago (not ours, but you probably know who), then I would think you would be in agreement. We will continue to grow the industry as a whole, and welcome all professional participation. Feel free to call me to discuss anything.
R U on AOL, sometimes the "compressed graphics" needs to be clicked. You can go to www.stocktrading.com/Fees2002b.htm to see the new fees.
It needs an upgrade don starting with the layout my man, go for something with some "flash" and millennium flavor IMO. It locks up on my screen as well when I was peeping it out for info on the firm. Also: If one has enough capital on his own to trade why would he need to go to Bright or Worldco to trade? Further education? experience? realm of traders? Just wondering as I have started trading on my own teaching myself and doing pretty well from the comfys of home.
yes, dons site will suck the memory right out of your computer.. i tried to surf it a couple times and kept having problems.. -qwik
Don- that link doesn't work either. and you didn't mention if you still had the office in Saratoga Thanks