For those people that left IB - where did you go next?

Discussion in 'Interactive Brokers' started by rida07, Nov 24, 2008.

  1. birdman

    birdman

    agreed

    izone
     
    #21     Nov 30, 2008
  2. Most people that left IB went to Bear Stearns and then to Lehman Brothers :cool:
     
    #22     Nov 30, 2008
  3. lol exactly. Why would anyone screw around in this period with small/questionable brokers.:confused:
     
    #23     Nov 30, 2008
  4. I recall the worry that MF Global was going broke. Was that just earlier this year? LOL. Evidently they got good commissions though.

    I don't think our OP cares about that. But for those that do, make sure you check their financial statements and net capital.

    By the way, there are no earnings, stock down from 30 earlier this year to 2.

    OldTrader
     
    #24     Nov 30, 2008
  5. E R

    E R

    Hi,

    Yes, security of funds is always a concern. I continually monitor the situation--but from every indication they seem to be solid. Their stock price is down, but so is every other publicly traded financial firm out there.

    That raised a good point--I trade futures with them, so the money is segregated. Someone as large as MF Global goes down, and there will be other companies more than glad to absorb their clients (similar to when Refco went down and MF Global absorbed them).

    The bigger concern is if one of these banks go down where the segregated funds are held. That's the thing that should keep us up at night ;-)

    To the OP--you may want to diversify holdings. I trade futures through MF, with funds held at their bank (segregated), and securities through another firm (clearing through Penson, with funds held at yet a different bank). That way, if one bank goes down, you are not totally screwed (and locked out).

    E
     
    #25     Nov 30, 2008