None of that even applies to what I was talking about. I've been an IB customer for almost 10 years. I'm fully aware, but thanks again for stating what everyone already knows.
this thread has gone Kuku... for the record I checked and the rate on Futures for IB's fees is $1.74 per contract per side (of course the exchange fees are extra and non-negotiable by any firm).... ETrade is at $1.50... already I have received service that is 100 times better and I have not even funded my Etrade account... I thought the big nationals would have been more expensive.... my decision is made
How much margin did they want, and was this a portfolio margin account? I ask because near expiry I'll occasionally end up with large offsetting positions where the biggest risk is a bad mark or change in margin requirements forcing me to liquidate. It hasn't bitten me yet, but it's always in the back of my mind.
Not PM, I turned that off after a week when I realized what a black box their margin calculations were. They essentially used the bid/ask quoted, even though it was outside the max possible loss (it was way ITM and at that moment had a wide spread). It turns out as I later learned you have to put your own GTC order in at $5.05 on a $5 spread and that's enough to fool The Algorithm. But I learned that here, not from their "customer service" morons.
From what I can tell through your posts, you are looking for a futures (and perhaps options on futures?) broker. Not anything to do with stocks and those related derivatives, yes? If so, then to answer your original question and based upon the feedback and level of service you are looking for, I have the following three suggestions for you based upon order of interaction you have received... Mattz @ Optimus. Never spoke with him, but he has offered his services and that personal touch in many threads including this one, which you desire. Rob Morse @ Lightspeed. Never spoke with him, but he has offered his services and that personal touch in many threads, which you desire. AMPGlobal. They have not been as on-hands in this community as Matt and Rob, but they are my broker and when I need to get in touch with them they are right there, 24/5. If I had not found AMP before I came to ET, I would probably be with Optimus or Lightspeed right now. I do not mention these firms just because they are sponsors here. I mention Matt and Morse because of what I have seen them type and how they interact with the community, and mention AMP because I have the personal, real-life experience with them "and they had me first and I am satisfied with them." That any of these folks are sponsors here is inconsequential. If AMP were to start to go awry to the point where I felt the need to switch, my next step would be to go to one of those two folks' firms. Again, from personal experience, unless a bomb drops somewhere in the world, the routine for getting someone at AMP's live trading desk goes like this... 1. Call the main number. 2. Choose the option "If you need assistance with a live trade, press 2." 3. The automated voice then comes on right away and says, "Your estimated wait time is..." ... "Hello, can I help you?" There was never a wait time. Over the past few months the wait times have occasionally increased to a few minutes, but I chalk that up to the extreme volatility and a flood of calls. But never 15 or more minutes. That is nuts. Optimus and Lightspeed may be just as good, if not better, than AMP. But again, I do not have live-support experience with those two firms. What you need to do is speak with all the firms you are considering switching to. YOU are the customer, and YOU need to do the footwork to find a broker that fits your needs. All we here can do is give you feedback based upon our own experiences and observations. We cannot make the decision for you. That decision on whom to switch to lies solely upon your shoulders. I hope this post has helped you refine your path to profitability.
I didn't want to add fuel to this fire, but I saw two bits of all this just yesterday. 1) I got a red Margin Violation!! flash on the Account button, and saw that, for short positions essentially 'pre-paid', I was going to be 5x or 6x out-of-whack re net liq. *Nearly* did a true ... It was at yesterday's early cash-market leap above S&P 2730-ish, and if you'd only looked at half of the trade, it would look gruesome. Then the whole console blinked, and all went back to near-zero risk, and the red Margin Violation!! flashy-thingie disappeared. My *read* on this was that IB reviewed the other side of the market, and offset the positions. But I don't *know* this at all, but it all occurred and was over in the span of 3-4 minutes. 2) Regarding Sig's Order-Tricking-Market/IB Maneuver: Yep. With what I'm trading lately (short Iron Butterflies), the big-assed market swings can make what are essentially riskless positions look horrible as the market moves around. But even in the S&P, one side will be thinly traded, and helping things along with a reasonable quote provides immediate Account and Portfolio tabs with some relief.