What does Echo say it is doing to address these problems? I am considering starting with Echo this fall and this issue is a concern of mine.
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EchoTrade Reliability
- Thread starter gothamdweller
- Start date
There is a solution: have the firm supply a third party audited performance and systems reliability statement.
There are many firms about that do this: it is expensive and more often than not, the firms systems would not pass the reliability audit - which is probably why they dont supply it. Usually what is provided are technical assurance statements by a technical person: In my opinion, these are almost always self-serving and usually uninformed since the technical people rarely if ever run systems loading and reliability tests - and like I said, if they did, they wont release the results for obvious reasons.
Without these types of systems audits by unbiased third parties you really have no way to judge whether the systems are reliable or not
There are many firms about that do this: it is expensive and more often than not, the firms systems would not pass the reliability audit - which is probably why they dont supply it. Usually what is provided are technical assurance statements by a technical person: In my opinion, these are almost always self-serving and usually uninformed since the technical people rarely if ever run systems loading and reliability tests - and like I said, if they did, they wont release the results for obvious reasons.
Without these types of systems audits by unbiased third parties you really have no way to judge whether the systems are reliable or not
Quote from lescor:
How long have you been with them? Those issues started within weeks of the VB merger last year and became almost predictable in thier consistency (fast market=frozen quotes).
I traded there for a year and thought it was a great firm with good software. Unfortunately I could not justify the risk and missed opportunity of quotes that were so unreliable. If someone could have convinced me that they were on top of the problem and working at fixing it, I might have stayed. In all my questions though, I never felt that that was the case.
uh, so where are you now?
have you done the cost benefit analysis of remaining remote as a retail customer instead of being professional?
its really running a close 3rd to the pack in that the benefits of the PDT and other concessions especially since just about everyone and their brother has DA software platforms, unlike before (i.e. direct access).
I trade remote with a different pro firm now, and can count on one hand the number of data problems this year. That's an average week at echo.
I've read your ongoing arguments against being a prop trader, and for some people maybe it's not worth it. For me and how I trade, I'd never consider going back to retail unless I had a couple million of my own money to trade. I make good use of the ample leverage that is offered to me. That's another reason why I can't risk quotes going down all the time- things get a lot more dicey when you're in it 30:1.
I've read your ongoing arguments against being a prop trader, and for some people maybe it's not worth it. For me and how I trade, I'd never consider going back to retail unless I had a couple million of my own money to trade. I make good use of the ample leverage that is offered to me. That's another reason why I can't risk quotes going down all the time- things get a lot more dicey when you're in it 30:1.
Quote from gothamdweller:
Yep, and there have also been problems with ARCA, but I don't know if those are Echo's fault or not.
I dont know about anything else - since I'm not with Echo, but we were dealing with ARCA's frozen quotes for some while. Tech swears that its ARCA's problems.
Lately, it seemed fine.
A good morning for Echo/Stirling.
No Problems.
Keep up the good work.
No Problems.
Keep up the good work.