Quote from hitnrun:
if a trader has no clue to what competitive commissions are then they prime targets to be overcharged by any firm
they will take whatever is offered unless they know better
Now good ol bright still does get top commission in the prop biz
they have not dropped their pants like every other firm to get traders
they are probably the most profitable prop firm around
Mav and you are pretty well informed about the industry. And I respect your opinions. We feel, that it does take some money to give security and legality for the traders.
Our rates, at the standard shelf rate are .005 and .0025, so Mav has it about right. I checked with our 2 real competitors, and we are even lower than they are. Sure, there are some other firms with lower rates, and many don't understand the ticket market used by Swift and other Canadian type firms, but in all sincerity, we're pretty competitive, especially in 2012.
We have $million traders who know exactly what the other firms charge. We had one leave a few months ago, just to return in January. These are smart, wealthy guys. I may not be so smart, but these guys are, and they like it here. Maybe a few mil's but, likely not, again, against the other 2 primary firms.
These "other 2 firms" are run by friends of mine, they know who they are, and they even send people our way for training etc.
And, Mr. Maverick and HitnRun are absolutely right. Call the firms, don't listen to hearsay and bashing for or AGAINST Bright Trading. I'm very confident in our offering, from training to fees to security, to not holding money for 12 months, to weekly funds withdrawals.
(sorry, Mav and Hit, got a little carried away, LOL).
BTW, best month (Jan) for our traders in a couple of years, I'm am really proud of them. Many listened to what we had to say at our Retreat in December it seems.
All the best,
Don
