Bright Trading was the first firm I looked into. They are a really big firm and have a known reputation in the industry. It is headed by Bob and Don Bright who have some very established track records. Their website is one of the worst I've ever seen. It's www.stocktrading.com. It's very amateurish and there is almost no information about the actual process. I watched some of the videos which seemed scattered and lacking, but I guess that's neither here nor there. It just seems like it should be redone. I don't expect them to give away free trading tactics, but it would be nice for information about joining the firm to be clearly displayed. Anyway, I called them and got a little more information. The process to become a trader requires you to travel to Vegas for a 3-day orientation class that costs $1250.00. This is a prerequisite for their 2 week Boot Camp class which is offered online and costs $3000.00. In order to take the Boot Camp, you must also join the firm and carry a Series 7 license. The sentiment I get from their members and former members is that the training isn't great, so it could be tough for newer traders to "get over the hump". The firm's focus is on high-frequency equities and pairs trading. The desk fees are $400/month and there is a minimum of 12 months required. They have both brick-and-mortar offices across the U.S. and in Vancouver, B.C., and they also have remote trading available. They use RediPlus and OmniPro softwares. I don't care for RediPlus, as it's a bit dated, but I've never used OmniPro. I couldn't get any exact information as to the amount of risk capital that traders need to bring in, but from the reviews I've read, they are very good about getting people's money back to them quickly when they quit. They do seem to have a decent community with teams and mentors dedicated for each trader. The feedback is mixed on this, but I do know from experience that trading with a group is far superior to trading alone.
Conclusion: Bright seems like a good place to trade if you are an experienced day trader or pick up on things easily. The start-up costs are reasonable for this industry, but the training may lack a bit. They are well-established and are headed by some outstanding traders. They do require licensing, which seems unnecessary based on what traders do and what the Series 7 is designed for, but I'm sure it keeps everyone protected. I give Bright Trading 3.5 out of 5 stars. (Get a new website. It's cheap and easy.)
