I have had it with IB - switching to to Cobratrading.com

Discussion in 'Retail Brokers' started by retaildaytrader, Dec 30, 2009.

  1. I cant take IB anymore. There have been too many problems. I am switching to www.cobratrading.com. The commissions are only $7 and sometimes IB charges me like $250 per trade.
  2. I clicked on "pricing" and nothing happened.

    but 0.004 per share is better than some prop firms, any hidden fees, like ECN pass through, liquidity removal fee, garbage collection fee, exchange fee, 911 training fee, or HOA monthly fee?
  3. you are still whining about IB, LOL!

    Called you out on it in the last thread you started in on the whining.

    Now you are shilling.........figures.

    Besides, I wouldn't be so worried about high comissions, it is the ignorant trades that are killing you.

  4. SOGO or SOGO Elite are far superior to cobra.

    Cheaper, faster, better options.

    Really surprised you have not switched to SOGO yet?
  5. You don't click on "pricing" BUT on "commissions,platform fees,ect..." when your mouse is on "pricing"
  6. cstfx


    7/trade on web based, non-direct access platform vs IB's direct access? Go for it.

    BTW, I thought you cried and quit?
  7. The youtube video posts were gag posts done by a professional comedian from www.hitthebid.net if you didnt read the full post in the other thread.

    I am serious about this post. I just calculated my commissions at IB and its into the thousands of dollars for the year. I am not going to say the full figure because its too embarassing. Then there have been all these different technical issues. I just need something different then IB.

    You may have read all these complaints about IB and I can confirm they are not just rumors, but there is a lot of truth in them.

    Cobra is only 8 dollars per trade and, yes, they are a direct access broker.


    One of my brokers is Interactive Brokers and I have given them a chance, but going into this new year its time to give someone else a chance. Cobra Trading is direct access and offers more then what IB offers at a cheaper rate.

    I know some of you guys are just trolls posting in this thread and have no idea what we IB customers have to put up with on a daily basis. Have you ever tried to get anyone on the phones at IB when something goes horribly wrong? I cant take this especially in these times when mysterious vans are being parked outside of the Nasdaq. I dont want something to go horribly wrong. I need to give someone else a chance at brokering my trades.
  8. SOGO is $3 a trade and SOGO ELite competitive with a better platform.

    SOGO Trade beats the hell out of the garbage you are peddling.

    Don't worry sparky, the IB Demo you are papertrading from does have some quirks. If you ever start trading for money, you may find it to your liking.
  9. I see some people in this thread already stating mistruths about Cobra Trading. Therefore, I will state the truth and supplement it with screen shots from the website.

    First, Cobra Trading is a direct access platform.


    Second, Cobra is negotiable on commissions. I tried calling IB now and it seemed like they did not want to hear it. Oh well, its time to try out the Cobra platform.

  10. SOGO trade looks cheap, but it isnt a direct access broker and there are other concerns I have with that platform. This is not just about how much you pay in commissions, but service and many other factors. I tried calling SOGO just now and couldnt get anyone on the phone. This is like another IB except its not direct access trading so there are hidden fees on the backend so they can make money off of those 3 dollar trades.

    Im not comfortable after I looked at the SOGO demo. Its not as cheap as you think it is.

    Us experienced traders know of the different problems that brokers can have. Ever have the IB platform tell you your position was closed when in fact it was not closed? The next day you get that call from a customer service rep at IB to break the bad news. Thats a nightmare that I have lived through a few times with IB and lost a grip of cash. The broker makes you sign all his paperwork where they have ZERO liability.

    I cant go with SOGO. I know a little bit about Genesis securities which they are linked with and the horror stories I have heard out of that place.

    #10     Dec 31, 2009