Looking at changing brokers and its come down to between Ib and Equity Trading from who i've looked at so far.. I'm leaning towards Equity trading,I've read the ratings on the home page here, has anyone got any noises about them they'd like to make?? Good or bad? Black mark to MBTrading, don't even return emails so that ruled them out pretty quick.
I personally know the owners at Equity trading and traded there for a year also I trade at IB. As far as trading IB is the best broker out there besides proptrading. If you go with IB get a good quote feed and don't rely on IB's quotes they suck. As for Equity trading they are good only if you trade 1000 share lots otherwise don't expect to much from them. There are the type of firm that is good for traders who have at least 250k in a account and do at least 25 tickets a day. The firm is run by a former specialist who is a great trader but it is a good old boys club.
I had an account with ET a few years ago. They were always responsive. I would rate them one of the better brokers out there. The only reason I moved the account is because I wasn't able to trade much during the day and the fees were a little high. I just opened an account with IB as I'm more active now and the commish is hard to beat.
Just on the opening of an account Equity trading has fantastic customer service and follow up whereas with IB, it's like pulling teeth? WhY? because I am unable to open the application form on there Registration menu. The first 2 forms will not open. i have written to them 10 times but they don't want to know about the problem judging from their one or two cruuddy responses. Then when I try to call them, the wait time is 10 mi minutes. They said they won't send the application by mail or e mail when i told them it simply does not open. I tried on 3 different computers, multiple times. Why would you want to do business with a firm like that? It shows deeper problems underneath if they cannot cope with an application--the most important new business activity and revenue generating acclivity there can be. I have run my own business last 16 yrs and if I did what they do, I would be broke long ago. With Equity, the application process and follow up was virtually instantaneous. Phone response was excellent. They have my money as far as I am concerned as far as opening matters go. First impressions are everything. I already have my Equity account whereas with IB I gave up. Hope this input helps you to make the a no brainer decision. Regards Brij
Thanks everyone for your replies.... Still in asking questions mode at present.. I'm using esignal at the moment so it kind of makes sense to use someone where their trading platform and lev11 can be intergrated into what i'm using.That and a rebate. Thats one big plus in Equitys favour at the moment. Funds from overnite positions closed apparently don't get released till the following day which is a bit odd for a margin account. ..Still looking thanks everone.
I've been with equity trading for eight months now, and I could not ask for a better broker. I opened an account with IB but ended up not funding it because of the poor customer service I got. Hope this helps. Good trading.