Any firms use Interactive Brokers

Discussion in 'Retail Brokers' started by 76132, May 12, 2013.

  1. 76132

    76132

    Hello,

    I'm just curious if anyone knows of any firms that uses IB to execute trades? I'd assume most top firms directly connect to the exchange, but based on IB's pricing structure, you'd expect some firms to use IB.

    Thanks.
     
  2. I do. I'm very satisfied and they fulfill my requirements very well.
     
  3. 76132

    76132

    Thanks. Does your firm have multiple employees or is it just you? I'm just curious to see how trustworthy using IB to execute trades and using their data.
     
  4. Currently we're two in the firm, but trading is automated so only one concurrent user. Only had one glitch when using their Asia Gateway (was located in China back then), apart from that flawless execution.
     
  5. garachen

    garachen

    Most institutional money requires that you use a broker who has substantial assets that can be used as a cushion. You wouldn't put $1B at a firm with $40M in assets for example. So, while I've seen IB accounts around $50M it's always been a collection of retail investors.

    There are only a handful of brokers/clearers that are ever allowed.

    Also, the great majority of places, especially really big places, would never write direct to an exchange. Most big business still done over the phone looking at Bloomberg.

    It's hard to keep a sense of scale. Like how small GETCO is in terms of assets compared to an average size traditional fund. We tend to see trading as a large world but it is very small compared to the rest of the financial industry.
     
  6. I believe Maverick Trading uses IB for Options trading. It's been a while since I heard that, so I might be wrong.
     
  7. Fidelity sometimes routes its option orders through IB (at least it used to) Now they more use Citadel.