Trading "retail" at a prop firm?

Quote from tradersboredom:

these market makers/brokers are pretty much useless to investors and daytraders if they don't provide and trading advice or financial advice or stock tips.
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Doesn't Bright Trading offer trading advice & quality training? If so, then perhaps it justifies their fees. I'm seriously considering signing-up with a prop firm. Bright is currently my frontrunner because of reputation on integrity and training; although I understand they are a bit "pricey".

Walt
 
If you want training from Bright you have to pay several thousand dollars for their training boot camp. Don is a saleman that will spin anything to make it sound like Bright is the best in the world and it always smells like roses there.

However, his brother Bob is a great trader and Bright is well run and a safe prop firm to hold your deposit at. But you go to Bright because you want to trade pairs. For any other trading style Bright's pricing is too expensive. After the boot camp you might get some additional help and training for trading pairs if you trade out of their office in Las Vegas. But if you want to trade pairs you can do it for cheaper at Echo.

Oh yeah, you can't have a retail account with Bright only a prop account. Bright isn't allowed to have retail accounts for customers.
 
What kind of traing does Echo give? It seems that Bright has made a concerted effort towards providing support to remote traders. I don't know if Echo can match the level of support and training the Bright has stated that it gives.

Walt
 
Quote from jones247:

What kind of traing does Echo give? It seems that Bright has made a concerted effort towards providing support to remote traders. I don't know if Echo can match the level of support and training the Bright has stated that it gives.

Walt
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I am in the process of signing up with echo. They don't provide any sort of training.
 
I apologize if my post misled you, Echo does not provide any training as far as I am aware of. I only mentioned them because their commission and Interest Rates/Haircut are cheaper than Bright's. But if you want training then you have to pay and go to Bright's Boot Camp.
 
Quote from tradersboredom:

you can lease a store in a real business with $1000/month expense. or $12,000/year just on commissions if you doing this like real business.
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A tiny news stand storefront in NYC is $10K, with a fridge to sell soda and Redbull!

Schonfeld used to let retail guys use desk space if they cleared a decent volume through the house, part of Lightspeed now.
 
It doesnt seem that Echo or Bright allow "retail" accounts at their prop firm.

So far it seems Assent and Lightspeed MAY allow this...

Anyone have any ideas about comissions with either one of these?
 
You should be able to easily find and office to trade in through Assent or Lightspeed. But Lightspeed's rates are .00395 per share and Assent's rates are similar if you trade out of an office. And you are less likely to negotiate a lower rate with them if you are trading at their office rather than from home.

You said you or someone else trades 100k shares a day which is 2 mil shares a month. With Lightspeed that is $7900 a month in commissions. As I previously posted in this thread the firm I moved my account to charges .00155 for 2 mil shares which is $3100 a month in commissions. That is a $4800 a month difference. Take some of that $4800 a month and rent your own office space for you and your friends.
 
I have to laugh at some of the commission "deals" out there.

No one trading only 2 million shares per month should be getting rates as low as .00155. If they are, I can assure you that they are using a crap platform with subpar data feeds and order routing.

A serious trader would take into account the enormous costs of stuck quotes, downtime, slippage, slow executions, bad tech support etc. (and I won't even get into other huge factors such as news services, charting software, 100% P&L payout, short list, firm stability, etc.)

Amateurs think about picking up peanut shells.

Professionals think about tackling the elephant.
 
Quote from tomu:

Lightspeed's rates are .00395 per share and Assent's rates are similar if you trade out of an office...rather than from home.
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Well remote trading is possible if it is cheaper.

Again I have to wonder why they are paying this much for nothing from the firm.

It appears that it is just to sit in their office.

I have not heard back from either firm about their "retail" rates yet.
 
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