Hello everyone, I'm looking for a new online broker (am currntly with IB). Trading stocks, bonds, needs financing, futures, lots of options (delat hedging), CURRENCIES, sEARCH FOR LOW COSTS BUT GOOD QUALITY AND DON'T WANT A BROKER WHICH COULD GO BANKRUPT . Any hints thanks Julien
Best broker? You all ready found 'em so you're good to go! ---> http://individuals.interactivebrokers.com/en/main.php No Worries.
I was actually thinking of switching from thinkorswim, or at least adding another broker (IB or Tradestation).... I have had issues with TOS's online version. They are rolling out alot of updates lately - which I think is great - but it sucks when they have an issue with their new version and I have to be the one to IM their tech support only to be told that I should roll back to the older version because they are having an error. Ex: one day the new version was unable to get quotes from several of the major exchanges...huge issue! Yet instead of posting a message with a solution, I had to call/IM and roll back to older version. If I was a more active trader, would be a gigantic issue..... Another issue, one which I've been particularly pissed about, is when I close out a position, my buying power doesn't always return right away. (I would even go so far as to say that it almost NEVER does right away). I buy and sell alot of vertical spread - which require quite a bit of margin - and when my margin doesn't return right away after I close out, this really pisses me off, once again requiring a message to tech support. What are your issues with IB? why do you want to change?
If you have a big account (8+ digit) you could try to get prime brokerage services with any of the big brokers. Doesn't mean they can't go bankrupt though. Any company (broker) can go bankrupt at any time. If your account is smaller, then my personal opinion is that IB is as good as it gets. Could - of course - always be a little better at certain things, no broker is free of little issues. But I like to look at the entire package. Weighing pros and cons I still think IB is the best total product offering for anybody trading multiple strategies across multiple markets.