I have the same feeling ! WebTrader is based on Java technology. It is just not good enough in performance. It is why I always use Ameritrade for stock trading, not IB. If you use WebTrader frequently, it always take you to wait 2-3 minutes to just get the login prompt during regular trading hour. I think only small investor likes IB, b/c it is cheap.
You mean TWS (trader workstation), not Webtrader. Webtrader is html based with some Java script. In any event, I've used plenty of platforms. I find TWS to be one of the best. It doesn't take 2 to 3 mins to get a login prompt. The login comes up in 5 secs and the Java based stand alone TWS program loads in under 20 secs or less. The thing is, many traders who use IB tend to have updated, state of the art computer systems. Serious traders use serious tools. So JAVA's seemingly slow load and high overhead is nominal to them. And they tend to log on TWS once in the day and leave it up and running until their trading day ends. I know this is true for myself. Wanks out there who are still using pentium IIs and IIIs for trading... well, you know. Must be small investors.
Well, I know Transact Futures has Volume at each price level and their software is fully compliant with the TT patent. The only thing keeping me from trading with TransAct Futures is the fact that they require you to trade like $500 or $600 in commissions per month. So there is pressure to churn your account. Bottom line, if TransAct Futures can do it whilst fully complying with the law, then why not IB? i really want to trade with IB because of the access to nearly every market out there. The possibilities seem limitless.....you don't have to worry about whether you can trade this or trade that with your broker since they cover basically every market out there. However, with breadth of service we should expect other areas of their offerings to suffer for example the mediocre BOOKTRADER which no professional futures daytrader in his right mind would seriously consider as a viable alternative to X_TRADER. That is, unless they modify the BOOKTRADER to suit the needs of the professional futures trader. The upgrades I mention could probably be worked on over a weekend and be up and running in a month. It seems like such an easy way to boost their reputation as the broker professional futures traders choose. But will they do it? Probably not.....don't ask me why...
How hard would it be to include STOP orders as an option (instead of just MARKET or LIMIT) to a conditional order. This would make my life soooooo much easier. Is there any reason other than no one else thought to do it? Thanks IB for your reply.
I've been using IB's charts to do a lot of investigation into the few months of price action history of the JUN 06 ES contract, during which it was the most active ES contract. It is my understanding that as soon as that contract expires, in just a few days, all of the charts and data I was using, for that JUN 06 contract, will disappear from the IB system. It will then take months before IB gradually accumulates a new history of months of active trading for the SEP 06 ES contract. It really would be great if the JUN 06 contract data could be preserved and kept available, even after it expires. I don't see the logic of discarding the data.
We had decided to work on this the first time you posted it. (We have the data saved, we just don't currently expose it). But even if we hadn't, why are you repeating your post?
Here's an area for improvement with IB. Get rid of the insane CME data agreement that they require you to sign to get the free data subscription. Have those of you who trade with IB actually read the agreements that you signed to open your account? The conditions are totally insane. When you sign, you sign that you legally agree to all the conditions in the agreement. Read the CME agreement closely. You agree to be financially liable for any accounting errors, to pay fines if they require you to, to hold records for 6 years as proof of no errors, to allow an agent from the CME to enter your business or home to inspect your data connection. And those are just the parts that I found hidden in the legalese. Several members of our trading club decided not to open accounts with them for this reason. IB's reply to questions on this issue was in short: if you don't agree to these conditions, no 'free' data package, or don't open an account . If you only want US equities data and not futures, you're still required to sign the CME agreement. The matter is not negotiable. Perhaps an indication of IB's style of customer service should you need it. I'd advise *anyone* opening an IB account to read the fine print carefully, and consider the implications first. It's a legally binding agreement you sign.
The exchanges have draconian conditions to give them the right to prosecute anyone who is stealing their data. If, for example, you take the CME (or any exchange's) data in and redistribute it without a license or without paying multiple terminal fees, then you are stealing their data. In this case, they want the tools to get at the bad guys. Nobody, repeat nobody, who is doing the correct thing has ever been hassled by any exchange via IB. Be honest, and the agreements are fine. If you don't intend to be honest, get the data and do business elsewhere.