Discussion in 'Retail Brokers' started by 50 cent, Nov 4, 2003.
Yep, for OVERALL deal, IB is still the best. It has basically everything.
Jtrader is a solid platform if you are with a good clearing firm. Only time I had a problem was when I went with a firm that used Jtrader via RCG. RCG had awful tech support of jtrader and I had the problems described. When I switched clearing firms my problems all dissappeared. Not one problem releated to jtrader platform. On the other hand IB is at least a problem a week if not more, but its not on their end of course . My jtrader commission is less than IB for futures, but I am 1st to admit the option commision on equities is what keeps an account open for me at IB. And the key as always for me, I can talk to someone immediately if I screw up or an exchange decides to play the screw up game. One ring and I'm talking to someone who can take care of what I need.
I don't think IB is all bad, I just don't get the complete fascination with them. Pick up the phone, call around, there are enough firms on elite that will get you equal or less commissions and be there when you need em.
My conclusion is that the whole JTrader system design must
be crap, if it runs fine with one FCM and has problems like
- "disappearing trades"
- "very slow response to cancelling orders"
- "execution of orders that were cancelled"
with another FCM.
Traders, daytraders, are coming back to the markets in droves. This is the bubble days all over again, and the trading firms are going to have to compete for business again. IB has been making good dime off us for 3 bearish years, having no need to cut commissions.
Given the growth at Tradestation, I'm surprised IB hasn't already taken measures to stem the tide, keep what they have, and try to attract more traders through the only REAL thing IB has to offer: Cheap Commissions.
Just my opinion, don't get all mad please...
The IB fee schedule lists "Additional fee for API equity directed order." According to IB support, this would be like Ninja trader and the extra fee is $1.20 per order.
So when you consider all of this, IB is not actually cheaper on equities if you want better execution, is it?
I'm sure you're right. java charting is something I avoid for sure. Actually the charting doesn't need to be integrated into tws at all. I am just a little frustrated because I would like to ditch RT, but I can't find a satisfactory substitute.
I had slow response, never had an order disappear, and never had a cxld order filled. My problems were purely on the RCG end not the jtrader platform itself. Like I wrote, haven't had a problem since I switched clearing firms. On the other hand.. with IB I have had very slow response time to cxld orders, the system go down, the inability to get ahold of someone when its down....etc. I don't honestly care who you use, I just like to get a whole picture rather than an advertisment everytime IB is brought up. The guys who respond on here for IB seem great, unfortunately thats not my experience when calling or chatting. Which is why, in the past, I have asked questions on here instead of the chat or phone.
I have to admit the customer service of the firm I used with J-Trader was great. Whish IB would have service like that (But it's almost impossible with that difference in number of customers...)
Overall, I'm not advertising for IB, I reacted on someones quote that Patsystems would give you the best front end. If you 're talking about X-Trader you might be right, but J-Trader is certainly NOT the best platform around.
Just my 2 ct...
IB is self clearing.
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