IB or Thinkorswim

Discussion in 'Retail Brokers' started by tradebanzai, Nov 21, 2006.

  1. Hey guys!

    Just need your advise before giving my money to a broker...
    I was papertrading for about half a year and now it's time to make some further steps.
    I used TOS software to test myself. but I'm confronted with the dilemma which broker to choose: IB, Thinkorswim or any other? I'm a stock daytrader. TOS has great functionality, but their commision rates are too high. They proposed lower commision for options. But that's still higher than IB has.
    What I don't like in IB is that you need to choose options parameters every time (like strike, exp). And the other problem is the next. In TOS when I get prepared for the trade, I create an order. And the price in this order changes every time as the price changes. So when it's time, you just click "send" and that's it, the price is already set. But in IB when I create an order an price changes, I have to change price manually in the order before sending it. Maybe I miss something and there's a way to deal with that?
    Also do you think it's safe to give money to these brokers? I'm new in dealing with real money and brokers. What's your experience with brokers?

    I would be thankfull to all your advices cause only practicing people can answer my questions.
  2. tef8


    Try both platforms in demo mode and then whichever one you are best with......

    Commissions are only part of the picture