Choose Bright or Echo?

Originally posted by exce26
Don,

Is it correct that the SEC charges an additional fee on shares 2100 to 5000 when professionals (retail also ?) trade ?

Is this is so, what is that fee ?

With BT's maximum cost of $25.00 per trade, and me wanting to put on 3500 shares, is it cheaper to trade twice (2000 shares and then 1500 more) for a commission cost of $35.00, or one trade of 3500 shares for a cost of $25.00 plus the above mentioned fees ? I'm trying to figure where the break point is in this fee structure.

What guidelines do you have for allowing Bright traders to go above 4999 shares (which I was told is set as default on the Redi machines) ? .... $$$ in their account, time with the firm, ????

What is the exact commision & other fees for people trade 10,000 shares? ($25 or $50.....?)

Appreciate your help.

(This thread is from past, but this is the exact same question I wanna ask)
:)
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The $35 may apply to the first situation (it does depend on where you sit on the sliding scale of fees, i.e. .75 or.80 or whatever).

All traders may request higher per trade limits after their 30 day evaluations are submitted and reviewed (and again after 90 day evaluations). We see what type of trading they are doing, and evaluate risk, ability, profitability, etc.

$25 for the 10,000 shares.

The first question is beyond our control, yet we are pretty sure that we can get some "relief" soon from the NYSE.

:)
 
Originally posted by limitdown


TraderProfile was available to all SLK customers/client brokerage firms. I was not able to get the SLK feed to tie into source of their reports, hence manual entry or manually kept personal records.

I do not understand the comment above. As CEO of TraderProfile, I know we can get the feed to tie in. :)
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I just checked the latest broker ratings on Bright trading vs Echo.
Wow, what a difference!
Echo has 100% good
Bright has 37% good, 67% bad rating.
umm...
:D
 
Checked the latest broker ratings where? A magazine, website, this site??

Not much weight to it without documentation of some type. Post a link or some additional info.

:cool:
 
Once Bright starts providing a remote-trading capability (and I believe this is in the pipeline) then Echo and Bright will be more directly comparable.
 
Originally posted by exce26
I just checked the latest broker ratings on Bright trading vs Echo.
Wow, what a difference!
Echo has 100% good
Bright has 37% good, 67% bad rating.
umm...
:D
More...

You have to be kidding! If I were to ask a few hundred of my traders to log on and respond to the survey here we would be at 100% as well. Anyone doing any comparison shopping certalnly would no rely on something as silly as a website survey that can be easily padded. What next....Wade Cook courses have value?

Echo is fine, and we have gotten past the silly debates on this board, and I have even forgotten about the "survey" - and more importantly we stress that every new trader check the facts before joining any firm. The recruiting practices of many firms are questionable at best, and some down right irritating, but in the case of Echo we are not the least bit conerned (since both companies are very similar).

I suggest that anyone checking out firms do this:

1. Check the financial viability of the firm by seeing their financial statements.
2. Be sure that the "owners" have a lot of capital involved ($10 Million minimum in our case).
3. Compare all costs.
4. Check their relationship with their clearing firm (we have been with ours since 1978).

All the basics apply.....let's chat about trading and making money, and when you're in the market for a Prop firm, let's chat in person or on the phone.

:)
 
I agree with Don about the validity of these broker rating posts . I recall specifically this one post which detailed all the bad experiences that he/she experienced with Bright. He/She said that REDI goes down all the time, it is slow,etc. Most of his/her assertions were simply not true.

I have been using REDI since 1999 both as a customer with a broker/dealer and most recently with Bright as a remote trader for the past 1.5 years. While there have been occasional outages(what system does not?), it has been pretty stable,except for a couple of weeks post Sept 11. With 1 cable modem powering my 2 computers, the REDI quotes are faster than quote.com, AT financial and esignal.

Just my 2 cents.

Disclaimer: Other than being a Bright trader who makes/losses $ basis my OWN trading, I receive no $ from anyone. I wish I did!!!
 
Originally posted by candletrader
Well made points Don... you have said it better than I could have... I agree with you fully regarding the contents of your above post...
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Thanks Candle....feels good to hear some good words (especially from you). :-)
 
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