"Agree with Kiwi" - Xspurt | February 09, 2010 5:46 AM |
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and to add customer support have been outstanding any time I have contacted them. Perhaps I was always lucky. |
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"A Solid Broker for Experienced Traders" - kiwi_trader | February 08, 2010 11:27 PM |
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Bad reviews come from people who don't get it.
If IB have a fault its that they let these people open accounts. And then, when they fail, in their search to feel better they blame everyone else including IB.
Good technology. Good price. Excellent control of your routing and your fills.
But as the fall off to 75% satisfaction suggests they let too many people in who will never make it. Shame. |
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"to damo484 (previous post)" - moarla | February 08, 2010 10:58 AM |
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to damo484 (previous post) As what i see yo9u are trading the ES. As what i know the execution on CME futures depends from the exchange and not from IB. So how you can say you have slippage on IB? Could you be more precise or if not possible dont post? |
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"The Slippage Factor" - damo484 | February 08, 2010 9:16 AM |
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These guys have to be the Kings of slippage. It's so bad that it makes you scared to hit the sell button because you know all your profits will just slip away.
The TWS interface is like a clunky battleship made of Lego. Totally useless and guaranteed to sink. It's unreliable, hard to read, and gives erroneous readings all the time.
True it has low commissions, but you pay the price with these other issues. If you want to day trade then look elseware. |
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Low commissions, bad support, and such are the first things you hear.
Furthermore there is some inconsistency. Their reporting system is obfuscated and unnecessary vague, I believe they are stealing pennies every trade like how you can steal fractions of pennies in a bank and become a millionaire. You can't convert a full amount of money, it can't be fractional, thus always leaving money with them. Furthermore their platform is prone to errors and executions are impossible to say the least. An execution of mine was executed at xx.49999 instead of xx.50. It sounds like a bad joke. When you try to make sense of what you did and look at you daily activity statements there is always a bit of money missing, after accounting for commissions, usually less than a dollar, but still... Where does it go?? Furthermore their commission schedule is not explained in an orderly fashion. You will most likely be charged with a hidden fee in the first year your a member. And it has nothing to do with how much time you spend perusing their site. When you talk to support to ask what fees you were hit for you will come to hate them.
In the end, you will join IB as they are the cheapest. You will be assimilated, even if you have morals. |
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