looking for ideas on best broker to use for stocks, futures,options. IB is enticing because of price, but have found dealing with them is difficult. Only need order execution, use esignal for charts, level II. Appreciate any ideas. Currently use terra nova but $15 is silly. Typical trade size of around 500 to 1000.
At that size, IB's cost advantage is not necessarily overwhelming (except for securities options!), but they are still the cheapest. And if you want to buy 100 MSFT for 53.01, 100 MSFT for 53.05, 100 MSFT for 53.10, 100 MSFT for 53.15, and 100 MSFT for 53.17, you pay the same $5 that you pay for 500 MSFT in one order. If you trade 5 securities options contracts, I challenge you to find a broker whose fees are not at least 3 times what you pay with IB. From their new Universal Account, you can trade stocks, futures, options, and currencies all over the world from one account. Executions and confirmations typically take milliseconds. What exactly do you mean, you have found dealing with them difficult?
By difficult I mean I had trouble with demo download so I called them several times. Reply was basically java problem probably result of incompatibily with video card, etc, or put on hold till I dozed off. I use XP Pro and have multiple computers with 6 monitors wth esig and trendvue charts so I'm only looking for order execution. Appreciate your thoughts.
I had alot of trouble with IB freezing my machine. They said I had to change my network card to one that supports their java applet better. All the tech people I talked to (even 3COM tech support) said they were crazy, but I changed the network card and it has worked fine since. The low price on stock trades is worth the trouble.
try www.pointdirex.com They have great order execution (full direct access and as low as half a penny a share plus they have a max rate). They have the best price combined with great easy to use software and customer service. Hans
It looks like they have a max base rate (ticket charge), but no max on the pass thru's. NYSE pass thru's of .005/share? Not <i>really</i> a bargain. Have I misunderstood their rate structure?
Hans If I buy 100 shares of IBM, my commission is 1/2 penny for base PPLUS 1/2 penny for DOT routing right? That brings the total to 1 penny, why do you say it is 1/2 a penny per share? Kindly clarify.