Pros
Generally very flexible hours. Lots of downtime: back office workers spend a good amount of their day studying for school, surfing the web, preparing for interviews, etc.
Cons
The owners of the firm are so reluctant to spend money they wouldn't even spring for Antivirus software. Salaries for all positions are far lower than industry average. The brokers get a VERY poor compensation deal. After leaving this firm, I was doing the same job at another firm for 2.5x times my salary at E1. The company has roughly 50 odd people and has had, by a senior employee's estimate, over 2500 employees come through the doors and left in its 12 years of business. When people leave the firm, co-workers are very happy for them, as if they had just escaped from prison.