I just opend an IB account. Do people prefer Webtrader or Trader Workstation? I see TWS on Elitetrader a lot and assume TWS is the IB's Trader Workstation?
Yes it is TWS. Generally people use TWS; most seem to use it standalone although because Java caches the .jars downloaded there isn't a large penalty for using the so called browser based TWS. Most TWS users also use a different order entry tool if they are frequent traders. ZeroLine Trader, Button Trader, NinjaTrader and Bracket Trader are all order entry tools. Many use different charting - personally I recommend Sierra Chart with ZeroLine Trader.
We consider WebTrader as a backup platform and a way to trade behind firewalls. TWS is the way to go.
When is the new futuretrade platform going to be available and will it be all inclusive?? in other words will there be charts and a reliable fast datafeed all through IB??
You haven't finished your account opening process yet. Go to IB website, at the top right corner, select account management. Then Click on Trading Access, select Paper Trading.