Alternative to Interactive Brokers

Discussion in 'Retail Brokers' started by Eight, Mar 12, 2012.

  1. Eight


    There are so many complaints about IB, and I've experienced some of the problems, that I'm starting to think that I need to be looking for an alternative. I don't need such great fills really, I'm not a very high speed trader, what I do need is an API, reliability, and broker managed bracket orders. That last requirement is one thing that IB has that many don't seem to. I don't want to have to worry about a major disconnect leaving me with an unmanaged position. That is just unacceptable..

    Is anybody else like minded and looking for alternatives?
  2. Here's the thing. I've been an IB customer for 10+ years and ... what you asked for is exactly what they provided for me.

    I don't ask for support much but when I needed it I got it (1 phone call when a flood took out our local exchange and a few minors dealt with on the chat).

    A number of years back they had some server farm problems but they fixed them. Now most problems seem to be someone with internet problems (theirs) or someone who gets fooled by the good technology into thinking that this is not a cost/speed/product focussed organization with b/all customer service.

    The other problem is people adopting new versions of tws early. Do what I do - download the "previous tws" to get the last of each release but don't use any new TWS's until you're forced to by a need for new features or your old one going out of support. Then ask around to find out what people saw as a solid livable release.

    Result: A happy customer with fairly low expectations of hand holding and cuddles - I have to get those elsewhere (maybe a Merrill Lynch account?)