EchoTrade - what's up with them?

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.
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Hold's FINRA broker-dealer (now defunct) agreed to pay the fine upon settlement. The financial statements will not "reflect the SEC fine" since Hold had a separate legal entity via the CBSX broker-dealer.

The updated financials for prop firms are generally filed at the end of March (for the prior year) and generally available shortly thereafter via the SEC.gov site or from the firm itself.

As dealmaker posted, traders should conduct their OWN due diligence with any firm.
 
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.
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There are a few others such as Avatar Securities and Quasar Trader which are still around, and both are CBSX firms. As you stated, industry regs and changes in the markets are not making it as viable for the equity prop model as before.
 
I was cleaning my bookmarks before ran into this thread. Traded a few years until 11 years ago with Echo Trade. Sad to see they closed years ago.
 
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