Alternatives to IB

Discussion in 'Retail Brokers' started by doli, Apr 28, 2009.

  1. doli


    I have used IB for some time, but the problems and performance are discouraging, so I'd like to find a new broker. The way I trade (stocks and futures) is by hitting the bid and ask, so I need accurate and timely quotes. I also like to watch charts while trading, so I'd like charts that update with each tick.

    My problems with IB:

    1) When I need to use an order ticket, TWS stops for several seconds.

    2) The charts only update every 5 seconds, so I have to watch the ticker instead of the chart.

    3) Due to volatility and/or aggregation of the tickers, when I hit the bid/ask, an order may be placed at a price other than the one I hit (clicked on). This may also be a performance problem.

    Right now, I think TWS is better for passive traders (ones who put an order into the book) rather than active traders.

    My computer is fast with plenty of memory.

    Any recommendations?
  2. I only trade futures so can only recommend a futures broker. Shoot me a PM, and I'll send you my broker's contact info. Super fast platform, better margins and commissions :)
  3. cstfx


    Have you tried using a different order entry system, like Ninja, and a different data feed? I use NT for my forex trading with IB and it is far superior than trading off FX trader or the TWS. One click from charts or the level 2
  4. IB used to have competitive commissions, so people would put up with their sh*t. That's no longer the case; the brokerage market is much more competitive now, and much better margin and commission rates are being offered at other firms, with better service and faster execution. I used to be with IB, so I know your pain :D
  5. 1) Why use a ticket in the first place?
    2) Use Medved Quote tracker or Ninjatrader
    3) Prices update 3 times per second or more I think. When I hit it's almost instantaneous. I have trades with a program (Excel spreadsheet) that get's in and out in less than one second roundtrip. I dont get it.
  6. doli


    I'll look into it.
  7. doli


    I use the order ticket when I've accumulated more than the size that is set-up into my default size, which is used when hitting the bid/ask.
  8. Wouldn't it be faster to change the numbers manually in the order row? That's what I do.
    Also, you can program a shortcut key (easy to set up). Suppose I have 500 shares (my default being 200) and I want to close it all. I select the position row with the mouse, hit the "c" on the keyboard and it places a close position order (of 500) and I only have to clic on transmit. Very fast. I dont know if there are better ways.
  9. Alternatives to IB??? Are you nuckin' futz!!!???

    That'd be like going back to this:

  10. cstfx


    Where can I find one of those old machines? Real one, not some fake Chinese replica?
    #10     Apr 28, 2009