The other option you have is to use IB, but never use margin with them. Then you have the best of both worlds..
No. Because I won't get good customer service. At my current broker, when I call the guy on the other side knows me personally.
From IB's agreement regarding order routing.. Affiliate Relationships: IB's affiliate Timber Hill LLC makes markets in stocks and acts as a specialist or market maker on all U.S. option exchanges. Other IB affiliates worldwide, including Timber Hill Europe, also act as market makers on global exchanges. As noted above, for non-directed IB customer stock orders routed using IBâs Smart Routing system, if an IB affiliate is willing to provide an execution at the best available posted price or better for that stock, IB may send the order to its affiliate for an immediate automatic execution. "" Likewise, if an IB affiliate is a specialist or market maker on an exchange that has posted the best bid or offer for an option contract for which an IB customer has placed an order, and another exchange is also posting the same best bid or offer, IB will break the tie by sending the order to the exchange where the IB affiliate is acting as specialist or market maker.""
10. If margin requirements are increased, by IB or otherwise, and there is insufficient equity in Customer's account (s) to meet such increased margin requirements, then IB without notice to Customer, may liquidate Customer's positions in any of Customer's IB accounts, or otherwise apply assets in any o f Customerâs IB accounts, and Customer agrees that IB will not have any liability to Customer for any losses or damages sustained by Customer in connection wi th such liquidations or application o f Customerâs property, or i f the IB System experiences a delay in effecting, or does not effect, such liquidations, even i f Customer subsequently r e -establishes its position at a less favorable price. 11. IB reserves the right, at any time and without prior notice to Customer, to impose higher margin requirements than those imposed by applicable law, and IB's related margin terms, policies and procedures are subject to change, upon notice to Customer. Customer agrees to moni tor e - mail messages and satisfy any margin call issued by IB by
I think the liquidation issues and the conflict of interest that Timber Hill might be profiting of these liquidations is 10 times more important then the costumer service.
Indeed, I do this with one of my accounts. However, if you want to trade options in a non-IRA account, it has to be a margin account, even if you never use more than the account's available cash.
I don't think so. A customer service rep would answer the questions you need. When I have a question, I get to speak directly with the head or a senior guy on that desk.
Even if its a margin account, as long as you trade only long options & don't use the margin you are pretty safe.
Someone wants to close down a few of the IB threads: http://www.elitetrader.com/vb/showt...uld+you+close+your+IB+account+now#post3356263 Is this normal practice at ET?
Due to requests from multiple users this thread has been closed. In the effort to continue the conversation as well as consolidate the subject, please continue to post at the thread below. http://www.elitetrader.com/vb/showthread.php?s=&threadid=226522