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IB vs. Tradestation

  1. OK gang, I'm starting this thread, and I want to hear from everyone. With Tradestation's reduction in commissions, I am strongly considering going with them vs. IB. The commission costs are virtually the same now, and the ability of Program Trading and current and historical simulation gives Tradestation a big plus over IB, IMO.

    I like IB overall, although they have gone down at crucial times for me in the past week, which seems to be atypical, but was quite frustrating.

    I want to hear from you guys out there - IB vs. Tradestation - why would you go (or stay) with one versus the other. Are there any other discernible features of one vs. the other ? Any real cavities that one has versus the other ?

    Thanks in advance for all opinions.
     
  2. Are you Spanish- American?:D
     
  3. ...just a white-trash idiot with a knee-jerk reaction to stupid questions. I was trying to beat dbphoenix, who is the only person here more obnoxious than me, to the punch. If it were anybody else but you, I would say something ugly. I have deep respect for you derived from the intelligence and sincerity of your posts, and from the fact that as a non-native-English speaker, your English is great. Better than Harry's, which is no compliment! You may feel free to make fun of white-trash speech, if you can. As a very happy IB customer, and as someone who has been f**ked to a fare-thee-well by other brokers, my cynicism is well placed and has been bought and paid for.
     
  4. IB, although I am considering TS as my backup broker.

    Although the commissions are similar they are still not the same (IB is lower); also, I like the independence of choosing a separate data/charting service (although TS looks pretty good) and I have grown very fond of TWS w/hot keys, etc.

    However, the main reason for selecting IB is breadth of products. I know of no other broker with all of the attributes stated above and have so many products available. For me it is probably more important since I live in Japan and have access to Japan futures, Honk Kong, Australia and Eurex in addition to the US.
     
  5. I currently have IB as my broker but I use Tradestation as a charting platform. TS just introduced the matrix, market profile/market depth/order entry tool. This'll be similar to using TWS with the button trader. However, TS has still problems when volume picks up. In that case, I do "tape reading" and follow the market using TWS. Eventually, I'll open an account at Tradestation and keep it as my backup broker.

    Chinook
     
  6. TradeStation won't let you try their software, not even a one day free trial. You'll have to go through the whole process of opening a brokerage account just to try the software. Or, pay a mad non-brokerage client software fee of $200/mo., just to TRY the software.

    I am not interested in strategy development, I trade intraday, and need a charting software that fits certain needs - for example, fast chart flipping. I asked TS if they can give even a two hours trial of the software and they responded: "watch the interactive tutorial".

    With that kind of attitude they can kiss my.

    Cheers
    50
     
  7. The philosophy behind this is, that they want you to pay a
    monthly charge of 200$, once you pay this 200$, you will
    push yourself to take every benifit of this software by
    dedicating so much time to it, and this way they know you
    won't go away easily and most difinitly your ass is belong
    to them and they can kiss it forever.:D :D
     
  8. Since this has been a totally overwhelming thread :), I decided to stick with IB, and not go to Tradestation.

    I needed a back-testing system, which was why Tradestation came up on my radar, especially since commission rates were dropped substantially by them.

    Instead, I'm going to stick with IB, which I have been pretty satisfied with overall, and I just signed up with Wealth-Lab. Being an old Pascal guy, coupled with their IB and RealTick adapters, it was a relatively easy choice. I just hope that they stay in business for a while - I know they are small.

    In regard to Tradestation, I spoke with someone by phone on their nightwatch, who was totally clueless (you never, ever find that at IB), and I sent them a detailed Email with 10 questions that I wanted answered, and I never got a response. That also helped me make my decision (Tradestation are you reading this ????????)

    You guys can stop posting on this thread now, since I've made my decision.
     
  9. hayman,

    Thank you for the feedback. Although you have decided not to use TradeStation, we would like the opportunity to address the issues you had when dealing with our Support Team. We take great pride in our ability to respond to clients' feedback and concerns, and the Director of our Support Team would like to speak with you about the frustrating experience you had. Please email him at spepe@TradeStation.com .

    Thank you,

    Greg
    TradeStation Securities, Inc.
     
  10. eSignal is more affordable, plus works with multiple integrated brokerage partners.

    Has backtesting, global coverage, coming in 7.5 market depth on the emini. Many of these brokerages will soft dollar your eSignal fees back for active traders.

    New mobile, wireless add on companion product coming next year with charts, news, streaming quotes.

    Have available now, Interactive Brokers (IB), MB Trading, Cybertrader, optionsXpress, Refco, Lind Waldock ... plus Assent, Carlin, Bon Trade, Open Ex ...

    Coming soon ... by year end ... Trading Technologies ( TT X-Trader), Patsystems (J-Trader), Goldman Sachs Redi, FXCM, Refco FX, Gain!!

    Chuck
    @eSignal
     
  11. Chuck,

    Does esig integrate the ecn books into Lev II? By that I mean does your Lev II display MM and ecn's or does one have to open a separate Island window for example? Does the Lev II box contain a T&S ticker like RealTick?

    I didn't see Assent listed in the brokerage link. Does that mean they just run side by side with esig, ie no integration, and no soft dollar? Thanks.
     
  12. I have my brokerage account with IB and I use TS as my charting platform. TS has been continuously improving their platform in terms of stability and datafeed. I was unhappy about TS datafeed earlier this year but it has improved quite a bit now by direct CME feed and enhancements to their software. I think they are really listening to their customers. I have received several phone calls from their support group replying directly to me to the questions I posted on TradeStation World website.

    TS introduced the Matrix, order entry, market depth and market profile tool. Check out the matrix demo in the TS website! In the future, they'll introduce more flexible orders like bracket orders. I think soon TS will be closely competing with IB for e-mini trading.

    I am also very happy with IB. They have a stable platform, flexible API and excellent e-mini executions. But they do go down on rare occasions.

    I'm planning to open up a backup TS brokerage account in the near future. If something goes wrong with IB, I can hedge my position with my TS account.

    Chinook
     
  13. Hayman,

    One MAJOR reason that I have not seen and that no-one is telling you about (at least VERY few):

    IF
    you have a standalone charting package (eg the Old TradeStation 2000i, MetaStock 8, IBCharts, MedVed's QuoteTracker to name a few of the more popular ones)

    AND
    you use something like Dynaorder / Metaserver RT as interface to IB's quotes

    THEN
    you can trade the ES e-mini S&P on a 19.2 K line happily.


    try to do that with a package that is server based / has data remotely etc.

    I frequently am in Asia and frequently cannot get a very good connection. For me all this "on-line authentication" (eASCTrend, Ensign belong in here too) and downloading every time the software environment and/or data is of totally of NO USE WHATSOEVER.

    You may think this is not important in your case: but I have had that on a few occasions that my ADSL went down and I dialled in to my backup ISP with my modem and happily continued trading.

    If you need an ADSL the you are LOCATION bound.

    Nice new technology coming around that allows it from your mobile pone and PDA etc. Fat lot of use! More complexity - trading is a subconcious thing and you will need to see the software that you use daily.

    Just watch out how many third party pieces of software you use.

    I have two ways of charting and try to minimise bottlenecks on critical software. Time to learn a package is $$$ too.

    Vendors should GIVE you money to try out their software - once you have used it for a while then you are not likely to change due to the learning curve.

    This is why I use software that is DATA vendor independent and BROKER independent.

    Hope this helps.
     
  14. AAAintheBeltway,

    We do have the top of books of the ECNs in the level2 display, but not the full books merged. We are looking at this in a future release.

    Assent does have an integrated version using Hammer with eSignal they are using. It is up to their marketing group as to when they'll be on our site.

    There are also a number of other Hedge fund and Institutional trading execution systems that connect to eSignal that don't appear on the site.

    Chuck
    @eSignal
     
  15. Chuck,

    Thanks for the info.
     
  16. Does it mean i can place trade with FXCM trough your Esignal
    Mobile wireless add on, by year end?
     
  17. We'll have integrated trading in the mobile wireless product Quotrek with selected brokerage partners probably in the second release.

    We'll be opening up the beta on the new Quotrek shortly in the next few weeks.

    Chuck
    @eSignal
     
  18. I like Trade Station a lot.
    I have been with them for years.
    Their customer service is great.
    Their tech support is very patient and helpful.
    I do not find them expensive.
    And their new Matrix is the cat's nuts.


    Things to consider.
    It is a huge program and should be used on a dedicated computer. I had occasional problems until I did that. Now it runs flawlessly.

    It conflicts with the IB TWS and Java. It is written in C++. If you want IB open at the same time, use another computer.

    IB's customer service stinks. I used them as a futures broker until Trade Station integrated one. I really do not recommend them. I do not like TWS, it is hard to use and easy to make mistakes.

    And when you get to be a BIG account....you get a free platform and better rates.
     

  19. I predict there will be an IB response by the first of the year as to their Futures commission rate. How low do you think they will go?....being self clearing......I am guessing a round number like $4.00 RT.....or maybe they will do a sliding scale volume thing....but I doubt it.

    The factor to consider is how well can your brokerage/perspective brokerage follow the market rates and strive to stay competitive. Is it possible for them to compete with the likes of a self clearing firm like IB?

    Michael B.
     

  20. How BIG? and how good?