We will just buy Echo. That will force them to charge to .0075 per share. LoL Bright trading haha , the worst firm in overcharging traders. ha ha don wake up. You got so many competitors eating your firm!! EX- Don Bright clones chime in any time!! Got to admit its a beautiful profit model!! You go Don, dont choke on the way to the buffet.
Day Trading Firms vs. Prop Trading Firms
- Thread starter pdicartery
- Start date
Our friends at Echo (ex Bright traders), founders Jeff and Rob, are good guys...but I don't really think of Echo the same way any longer since they were purchased by PAX and then absorbed by Merrill. Just a totally different animal, IMO.
I'm not sure who ptg group is, perhaps they're part of another organization (or maybe I just haven't heard of them, it happens, LOL).
Don
Wow, I cannot believe all you guys flaming Don. I have to hand it to him keeping his cool. I would be swinging with both fists by now. If I had to venture a guess, it would be that all that come here and bad-mouth others are just losing traders needing to vent their frustrations. Winning traders are busy trading, refining their trading plan, and congratulating others on their successes.
I am currently a Bright Trader. While I can think of several areas of improvement in the mechanics of the operation, I really don't have any serious complaints. I don't mind the desk fee - I think it is reasonable. If I open and account and do absolutely no trading, they still have overhead in administering my account without getting a nickel of commission from me. If you trade enough shares, then you don't get charged. I do think a gradual reduction of the desk fee based upon shares traded should be implemented over the current "all or nothing" concept, but that is not my decision to make.
I think commissions are higher than what should be paid by an exhange member, but still in line with industry averages.
But, what joining the company has given me is the opportunity to trade my system without worrying about margin. I don't overextend myself when I trade and manage risk, but I don't have to think twice if I want to trade a $90 stock.
If better prop firms exist out there, then maybe I will come across them one day. If I don't like where I am at, then I am certainly free to go elsewhere. But I get the freedom to trade where I want being with BT, the capital I need, and don't get micro-managed by them.
Nuff said.
I am currently a Bright Trader. While I can think of several areas of improvement in the mechanics of the operation, I really don't have any serious complaints. I don't mind the desk fee - I think it is reasonable. If I open and account and do absolutely no trading, they still have overhead in administering my account without getting a nickel of commission from me. If you trade enough shares, then you don't get charged. I do think a gradual reduction of the desk fee based upon shares traded should be implemented over the current "all or nothing" concept, but that is not my decision to make.
I think commissions are higher than what should be paid by an exhange member, but still in line with industry averages.
But, what joining the company has given me is the opportunity to trade my system without worrying about margin. I don't overextend myself when I trade and manage risk, but I don't have to think twice if I want to trade a $90 stock.
If better prop firms exist out there, then maybe I will come across them one day. If I don't like where I am at, then I am certainly free to go elsewhere. But I get the freedom to trade where I want being with BT, the capital I need, and don't get micro-managed by them.
Nuff said.
Did Don pay you to say that
All I know about Brights rate's is what is discussed on this site. I would "hope" that any experienced trader is getting a MUCH better deal on the down low.
As has been discussed- any experienced trader that trades at least a couple million a month and is paying more than .003 needs to pull his head from his ass.
Don seems like a good guy who is willing to help newbies out on this site. He knows his business and is alway going on and on about balance sheets and what not.
Bottom line- I have been with a group for 7 years that according to Don doesn't have the juice to hang and saved hundreds of thousand of dollars trading with them than Bright.
If they blow up- which I simply don't see happening- still WAY ahead of the game.
But Bright appears to have their niche. And they wouldn't have so many traders if they weren't doing something right. Right?
As has been discussed- any experienced trader that trades at least a couple million a month and is paying more than .003 needs to pull his head from his ass.
Don seems like a good guy who is willing to help newbies out on this site. He knows his business and is alway going on and on about balance sheets and what not.
Bottom line- I have been with a group for 7 years that according to Don doesn't have the juice to hang and saved hundreds of thousand of dollars trading with them than Bright.
If they blow up- which I simply don't see happening- still WAY ahead of the game.
But Bright appears to have their niche. And they wouldn't have so many traders if they weren't doing something right. Right?
How hard would it be to start my own prop firm?.. just wondering. At least the advertising would be easy 
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This board has become so bullshit
Don is charging very high commission !!!!!!!!!
People who tend to trade there know what their commission are it,s not like don is holding a gun and saying u have to pay this much no matter what
Every one before he join,s a firm know what his rates are and should do his homework .
This argument is getting out of hand if a person who does not like his commisions get the fuck out and join a firm who u r comfortable with
You dont need to tell some one his rate,s are more or he is to expensive. he has been in business for quite a while
All i know is that even if i trade there and if i wanted to quit i know i will get my money back ( due to bright,s balance sheet ) and not some one who will tell me that i got to wait for a month to get my deposit back which is very frustrating
Don is charging very high commission !!!!!!!!!
People who tend to trade there know what their commission are it,s not like don is holding a gun and saying u have to pay this much no matter what
Every one before he join,s a firm know what his rates are and should do his homework .
This argument is getting out of hand if a person who does not like his commisions get the fuck out and join a firm who u r comfortable with
You dont need to tell some one his rate,s are more or he is to expensive. he has been in business for quite a while
All i know is that even if i trade there and if i wanted to quit i know i will get my money back ( due to bright,s balance sheet )
and not some one who will tell me that i got to wait for a month to get my deposit back which is very frustrating