Ameritrade/IB & Quotetracker?

Discussion in 'Order Execution' started by c_verm, Oct 27, 2003.

  1. c_verm

    c_verm

    Anyone use this settup??
    Im wondering if I should use Ameritrade cause I only trade 1000+ shares making the $11 trader not to expencive + I get free data to power quotetracker??

    OR

    Should I use IB & quote tracker? I heard IB charges 1 cent per share even if you order 1000 shares. they break up your order to two 500 lots?? Is this true??
     
  2. blb078

    blb078

    i have both set up on QT, it works great, i can switch back and forth to either account, i use my ameritrade acct for swing trades/investing and my ib acct for futures and scalping, IB's order entry is probably easier to use than QT but the charts work fine for me, they update every 2 seconds by defualt, but you can set it lower.
     
  3. Andre

    Andre

    I had both for a while. I liked Ameritrade's data better, so I'd use that for QT and trade with IB. I'm not doing 1,000 shares, so it makes Ameritrade hard for me rationalize. But if I was going to have tow accounts, that's what I'd do... use IB for scaling in and out. And Ameritrade for bigger positions.

    Plus, if you like QT, you can use its platform, and it's the same for both brokers. (I'm pretty sure QT now can place orders with Ameritrade?)

    André
     
  4. def

    def Interactive Brokers

    LOUD AND CLEAR : IB DOES NOT SPLIT UP ORDERS AS YOU SUGGEST.

    If you place a 1000 lot order, your fee will be $7.50 all inclusive. Also note that we don't sell order flow which is a hidden cost in many of the flat fee brokers. For example take a look at Ameritrades SEC 11A disclosure report. You'll see 58% of NYSE orders go via Knight.
     
  5. ChrisRT

    ChrisRT

    c_verm,

    I know you were looking for only 1 of 2 options, but I also wanted to make sure you knew MBTrading.com's Navigator platform integrates into QuoteTracker. The more options you have the better your decision can be. I've written a few reviews about MBTs functionality also in the review section if you care to review more..they still have demos available on their site to see how it works. Plus they have per share fees as well if you were looking for that as a deal breaker.

    Chris