Why is that there aren't many post about cybertrader? Is it b/c that don't have many problems or many users? Has anyone used cyber and IB and has an opinion on speed and reliability? I used Cyber's demo yesterday and was impressed, although it was too easy to make money. Thanks
Used Cyber -- hated it. Hated the software, hated the speed, hated the service, hated the prices. Now on IB and only hate the service and the 5K savings a month more than make up for that (especially since I have only had one instance in 8 months now that I needed emergency help). JB
Cyber Trader had lots of problems 5 years ago and still has them there a jack of all trades master of none. Get yourself a good feed like AT financial, ILX, Tradestation or Reuters and go with IB there fills are great especially if you do a lot of trades per day. But don't use there quotes there terribly.
Been using Cyber Pro in conjunction with IB for executions for some time now. On a DSL line forget using it on dial up) , Cyber is quite decent and reliable. Many features that can be of use in finding live stocks. At $200 a month if you don't trade, its not cheap, but since it also serves as a HOT BACKUP, it's worth it to me. Don't believe the negative hype. It's BS.
I hated Cyber too. I was totally unimpressed by the software; the graphics I found to be poor. It was long on bells and whistles that I didn't need, but short on substance. The excecutions were fine, but the prices were high. They nickel and dime you at every turn. Here's an example: "When using CyberTrader's proprietary routing logic, orders are often split and routed to multiple market participants in the hopes of capturing the best available price. CyberTrader does not charge separate base commissions for these partial fills as long as they are on the same stock in the same direction and completed within two minutes of the initial execution." So basically, if you're order is partially executed in 2 minutes, and some or the rest is executed after, you get socked with 2 commissions. Nice, eh? As I recall, it used to be a 5 minutes. I left when they shortened it and also instituted other nickel and dime type changes. If you consider Cyber, read their fee schedule carefully. 99
I've been using Cyber for quite a while and find the software stable, customer support excellent, and order executions blazingly fast. Some folks here claim it's expensive. Compared to what? It has almost the exact same fee schedule as RealTick which is the #1 direct-access trading platform, and it's cheaper than TradeCast and On-Site Trading. Of course IB is cheaper, but you get no Level 2, no charting, no intraday scanning, no alerts, no trailing stops, bizarre reversed logic on all stops, no shorting availability on your order-entry screen, no futures, no check-writing, no time & sales, no account statements mailed to you, no logon from more than one computer, etc. So you don't get what you don't pay for, and IB is cheap. Is Cyber perfect? Far from it. I've got issues with it's software as I do with pretty much all software. I'm setting up a RealTick account in addition to the Cyber account because RealTick has a number of features missing in Cyber. Will I keep both? I dunno, Cyber allows daytrading in an IRA account, RealTick doesn't, Cyber allows you to logon from multiple computers, RealTick doesn't. I guess time will tell. The key determinant of whether or not your P&L is positive will be your strategies, setups, triggers, stops, position sizing, money management, psychology. Not whether a trade costs $10 more than a stripped down order-entry system. Look at Hitman's P&L, look at his commissions, see what matters. BTW, I'm not trashing IB because I also have an account there, just trying to show all sides.
I haven't gotten the scanner running in the cyber demo yet, but I think this is one of the better features. If I didn't go with cyber what other scanner could I use with similar results (without paying an arm and a leg). If IB has executions as fast as cyber I think I'd go with them. I had a post in this thread that isn't here now, I guess someone is still removing posts?
Will IB allow trading via 3rd party software. Heard a rumor but would like confirmation. thks (please don't remove this one)