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Old May 8th, 2012, 12:00 AM   #1
tonyzhou
 
 
Join Date: Jul 2006
Posts: 164
I am currently using Interactive Brokers. My individual account grows to $500K size now. I am thinking that different brokers specialize in different account size. My question is that in what level, should I consider to switch to another broker that have better support for that account size? For example, go to TD Ameritrade? or some professional broker like Goldman Sachs? If you have experience and have the same though as me, please share with your thought. Thank you very much.
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Old May 8th, 2012, 12:10 AM   #2
Occam
 
 
Join Date: Apr 2009
Posts: 519
There is a wide range of brokers that fall somewhere between IB and GS in terms of minimum account size, pricing, etc.; and this question has been asked before on ET, for example:

http://www.elitetrader.com/vb/showth...hreadid=238469
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Old May 8th, 2012, 12:12 AM   #3
flipside21
 
 
Join Date: May 2011
Posts: 400
I thought Goldman Sachs only takes minimum $10 million accounts if you want to use them as your broker.
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Old May 8th, 2012, 05:50 AM   #4
comintel
 
 
Join Date: Jun 2008
Posts: 1,244
Well IB has many clients trading millions.

I doubt that you would be able to match IB's services and rates elsewhere with a $500,000 account. That is too small for the larger banks and brokers to give you rates that are as good as IB on as wide a range of services. (If you were just doing one specialized type of trading, then yes there are good alternatives).

However, in any case, I think you need to diversify across two brokers. There is too much risk in having everything with one broker. I know it is inconvenient to have to have two brokers but it is advisable in my opinion.
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Old May 8th, 2012, 06:30 AM   #5
rmorse
 
 
Join Date: Apr 2011
Location: New York, NY USA
Posts: 1,056
Quote:
Quote from tonyzhou:

I am currently using Interactive Brokers. My individual account grows to $500K size now. I am thinking that different brokers specialize in different account size. My question is that in what level, should I consider to switch to another broker that have better support for that account size? For example, go to TD Ameritrade? or some professional broker like Goldman Sachs? If you have experience and have the same though as me, please share with your thought. Thank you very much.
Under some circumstances we can introduce you to and service your account at B of A Merrill Lynch with an account over $500K. Email me you contact information if you'd like to discuss it. Very few large Prime Brokers offer Customer Portfolio Margin under $5M. IB and ML are two of them.

We can provide more than just a trading platform and custody of your assets.

Bob
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Old May 8th, 2012, 07:18 AM   #6
Cdntrader
 
 
Join Date: Mar 2001
Posts: 3,632
Quote:
Quote from tonyzhou:

I am currently using Interactive Brokers. My individual account grows to $500K size now. I am thinking that different brokers specialize in different account size. My question is that in what level, should I consider to switch to another broker that have better support for that account size? For example, go to TD Ameritrade? or some professional broker like Goldman Sachs? If you have experience and have the same though as me, please share with your thought. Thank you very much.
Don't bother. There's nothing out there.
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