Quote from chaykapwr:
Need some opinions.
Currently trading with tradestation. However, my account size has grown and I am considering moving to IB. What brought me to tradestation was their platform and charting services. How does IB compare? It is also my understanding that IB gives you much more access to data for cheaper? What about for futures trading, commission wise and margin wise? Any other suggestions would be appreciated.
this is simple... why are you with TRAD? what is your timeframe? what instrumenst do you trade? (equities/futures/options on both/FX?) ... is your account over $100K?
you dont need to answer any of those questions to me, but rather to yourself..
if account is over $100K, then you will get portfolio margin (if you ask for it) and you can trade with more margin than you get today.
if your strategies are coded in EL, then just go and buy yourself MC8.5 and move your code to MC and trade away with IBKR. You can always keep TS and still execute orders with IBKR btw, there is software that enables that connection.
if what you care about is charting, then just get one of the many that will support IBKR market data (depending on your timeframe of course given there are some "issues" with them doing snapshots vs unfiltered)
The main benefits of IBKR over anyone out there...
1) Universal Account. You can trade anything from a single account.
2) Access to Markets & Liquidity (you can short things easier with them if that is your thing)
3) Well Capitalized BD/FCM
4) Low cost to trade (relatively speaking)
5) Portfolio Margin (Easier with them than most)...