First DA broker questions

Discussion in 'Retail Brokers' started by 19000rpm, Dec 21, 2007.

  1. 19000rpm


    I am looking for my first direct access brokerage and have some simple questions and concerns. (Equities) I have been looking into interactive brokers. I really don’t like any version of TWS and the reliability of the data feed, software and network have been brought up by many people. The big pluses I see with it are very low rates, it has many supplementary platform providers (to aid in it’s area of software weakness), and smart order routing. I have also heard conflicting stories about IB’s data stream and it not having level two quotes. If the software and data is as bad as I have heard it is, then I will need secondary software, and data. Are there any brokers out there that cover all bases more completely?

    The key points I need:
    Accurate Level 2 data
    Simple, fast order entry with whole fills and perfect execution.
    Consistency within the network
    Reliable straightforward software (non-java based)
    No playing games with the account, aka lockouts, or hidden fees

    I don’t need amazing customer support or hand holding, that’s the point of finding the best suited package in the first place. If I have to pay for separate data, software and brokerage just to get the features I need then so be it. It would just be nice to find them all, or mostly in one place. The company’s I have looked into so far are IB, ninja Traders and Tradestation. I have worked hard for over a year to gain the necessary basic knowledge now I just need the tools. I have my office already set up in terms of hardware with multiple internet connections and backups to keep my end reliable. I will be doing this full time, minimal user interface is not an issue here. Any suggestions or input would be greatly appreciated.


    Btw I have looked through the forums to answer as many questions as I can, just need some suggestions.