ECHO

R

RAY

I think I am going to open an account with ECHO. I would like to ask some questions here before I do. Thanks in advance.

1. Can you make a deposit and "hold" an account with them while you are getting the series 7 out of the way?

2. How do they handle "your" account(s)? Do they send statements via-email? Mail? etc. How often do they send statements? I like that IB sends me my previous days. Is the information downloadable?

3. How is the process in getting funds from your account on a regular basis? Which bank do they do business with?

4. If the system goes down how is their call "center," I assume they have one (answer time, execution speed). [I had to call in a trade at IB, I wanted to melt the guy on the other end.]

5. Do they offer "electronic" bullets to remote customers?

6. Please feel free to add additional info. :)

 
I trade with ECHO, I can answer those for you.

1. Yes.

2. They give daily statements. They are downloadable every day from their site. They can also e-mail them to you everyday if you like.

3. You call or send an email to them, they will wire, fedex, or mail funds, depending on how urgent you need them. They will send you a check monthly, weekly, or whenever you request with no additional fee.

4. Their call center is quite good. They are all ex-traders, and they are very fast at putting in orders for you or solving problems. They are also good at helping you configure your own systems at home, I bought a Linksys router from Best Buy to run 3 computers on the same DSL and they walked me through how to set it up.

5. They offer electronic bullets to all their traders, in office and remote.

More info, check out another post:

http://www.elitetrader.com/vb/showthread.php?threadid=1775

Hope that answers your questions! Also, they are very nice on the phone so don't be afraid to call them.

-Jim
 
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