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EchoTrade - what's up with them?
- Thread starter EvOTraderV2
- Start date
T3 is stacking their "education" side of the floor with students thinking it's a job, and pushing them to live trade whatever Redler is doing that day. It's purely a churn and burn model.
The first sight of correction will blow out more than half of T3 in a week. Easily.
The first sight of correction will blow out more than half of T3 in a week. Easily.
Quote from DT3:
From my understanding of Dons posts Bright took over Echo..
Didn't know T3 allowed overnights maybe just for select traders? And their commission rates is ridiculously high I was quoted $7.50/1000 when I spoke to them a while back.
Anyone with any brains will stay away from Hold. They're cramped into a 12x12 box in NJ now, desperate to raise capital to pay off the $5M fine they took from the HFT SEC penalty.
Compliance is an absolute bitch to deal with, and their accounting manager is some Russian jammed in a corner running a week behind on cutting checks or responding to emails.
A total joke.
Compliance is an absolute bitch to deal with, and their accounting manager is some Russian jammed in a corner running a week behind on cutting checks or responding to emails.
A total joke.
Quote from Trader7793:
It seems that the only deposit required, equities focused, prop trading firms left are...
Bright Trading
Chimera
WTS and its subgroups like JC Trading
Hold Brothers
T3
When all is said and done it will be interesting which of them can remain in business. Some of them may have to move to a SMB training fee based model?
Between the industry regulations and changes in the markets...they could have difficulties for some time. I wish them all the best though.
Quote from MBlair:
Hold Brothers is pitching 99% @ 0.00125 $1.25/1000 on a volume sliding scale over 1M shares a month down to 1.00 or less with rebates.
Problem is, their platform is an absolute POS.
Thanks for the info on Hold. I'm still planning on taking the S56 over summer break sometime and I had considered HOLD as a possible firm. I will probably just go with one of the WTS groups.
I sent a email to Remotedaytrader.com which through Hold, they sent me back those same rates...however the platform mentioned was Fusion in the email, maybe you are referring to Fusion being the POS platform.
The financial statements are not up to date to reflect the SEC fine and compliance is not offering any new information to confirm the liquidity status of the firm as an ongoing concern.
Also, they claimed in August to be moving into new offices Midtown, as of January, still crammed in their little hole in New Jersey.
Also, they claimed in August to be moving into new offices Midtown, as of January, still crammed in their little hole in New Jersey.
Quote from cmb:
Thanks for the info on Hold. I'm still planning on taking the S56 over summer break sometime and I had considered HOLD as a possible firm. I will probably just go with one of the WTS groups.
I sent a email to Remotedaytrader.com which through Hold, they sent me back those same rates...however the platform mentioned was Fusion in the email, maybe you are referring to Fusion being the POS platform.
Quote from MBlair:
The financial statements are not up to date to reflect the SEC fine and compliance is not offering any new information to confirm the liquidity status of the firm as an ongoing concern.
Also, they claimed in August to be moving into new offices Midtown, as of January, still crammed in their little hole in New Jersey.
Its traders responsibility to do due diligence before they join a firm,
I am surprised how few traders do this, then they get stuck in a bad situation and start crying a river all over "Elitetrader" or any other forum they can find.