IB and corporate accts

Discussion in 'Interactive Brokers' started by ctrader, Dec 4, 2002.

  1. Spark


    how about sending order as market order without subscribing data? do i get real time execution with minimal slippage?
    #11     Dec 5, 2002
  2. If you use IB without subscribing to market data, you should be able to place market orders or limit orders and get the same execution as you would with data subscriptions. The only difference is you wouldn't get any numbers on the market data lines. Your TWS would just be for placing orders.

    If you were getting your data from somewhere else so you knew what the current bid/ask were it would be about as good. It would just be a bit inconvenient for some people who make a lot of trades each day.
    It would probably be no harder or even easier to place orders this way than how it is done through other less sophisticated online broker systems. I bet you could get used to it real fast.

    You would still get your daily bulletins informing you when ARCA and OneChicago are unavailable.
    #12     Dec 5, 2002
  3. they give you all the basic realtime data on a non-professional account for free if you spend a mere $30.00 per month in commissions - you can read it in the fees section.

    Level II is $79.00 per month -

    #13     Dec 5, 2002
  4. alanm


    hii said:"You would still get your daily bulletins informing you when ARCA and OneChicago are unavailable."

    #14     Dec 5, 2002
  5. catman


    I'm not a financial advisor. It's a partnership account that I trade
    for myself and some friends, so I'm not generating any commissions.
    #15     Dec 5, 2002
  6. ctrader


    Thats what I want to do too.
    #16     Dec 5, 2002
  7. Why not open the account in your own name, as an Individual. Then you won't pay the professional data fees. As long as you aren't a licensed trader you should be able to do that.
    #17     Dec 5, 2002
  8. ctrader


    #18     Dec 5, 2002
  9. I trade through an LLC at IB, non-professional status;
    no fees
    #19     Dec 5, 2002
  10. As a followup, I received a letter a couple of days ago that Ameritrade now classifies corporate accounts as professional, just like IB. They eliminated the only reason I kept an account with them....
    #20     Jan 2, 2003