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IB vs Tradestation

  1. Just wonder anyone have experience with Tradestation? I've been using IB to trade VIX futures. But IB recently force me to pay pro fees for market data. And the margin requirement has also gone up quite a bit. Have been thinking whether there is better option out there. Looks like Tradestation could be an alternative. Just want to know if anyone has experience trading with Tradestation, especially for VIX futures.
     
  2. I can't speak to futures, but on stocks the only problem is that they're self-clearing. They have a lot of special margin requirement stocks that are higher than 25% intraday. Like basically all of biotech, not just $5 companies. On hot issues, you can probably bet they will have higher margin requirements. Software is solid, was happy with smart routed fills, fees are good. But for stocks, a total no go due to special margin requirement stocks.

    Wilt
     
  3. ha! Just now, it took me > 1 hr to login into IB.
    luckily I have other brokerage agents.

    to me
    tradestation appears to be more stable
     
  4. I'd like to add Lightspeed Trading to the mix. We introduce to Wedbush Futures and can offer Exchange Span Margin on most symbols including VX futures. My email address is below if you want to chat this morning, BTW, we can also offer Exchange Span margin for IRAs if opened through a self-Directed IRA company like Midland IRA.
     

  5. i can back Robert. i ran vx through IB for yrs until their margins went nutz

    very very happy with Lightspeed/Wedbush..exchange margins, low fee's, imo solid strong companies.
     
  6. Everything is in a technical and methodological study.
     
  7. I am interested in why IB started charing you pro fees for market data. Did you check the professional boxes in the user profile? Or are you registered with IB as a company instead of an individual?
     
  8. It can also be triggered by managing accounts for others. I was interested too.
     
  9. Robert,
    Do you charge professional data fees if I am managing only my own money through an entity?
     
  10. Not sure if a single member LLC can meet the exemption. Maybe.

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  11. You asked, so without gettng chastised here, stay with IB. Based on previous experiences with TS, I would not recommend them for intraday trading.
     
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  13. I use a sub s corp. I am the only sharehoder. Can you get me a definitive answer?
     
  14. I can ask, but in my experiance with exchanges and their MD fees, there is often never a definitive answer that can't change. Even CME Direct that is currently free including MD, will start charging only Pro-MD in Q2,
     
  15. The exchanges consider you a professional. Take advantage of the Trader Tax Status. That will more than cover your exchange fees. Also you can write off a ton of expenses, like exchange fees, data feeds, software subscriptions.
     
  16. Rickshaw Man,

    The question was about VX futures. All Futures are 1256 contracts and MTM at year end with no wash sale rule. I'm not aware of any advantage or use for TTS with futures. I expect that is just for stocks and options. The S Corp or any LLC covers the expense side.

    Bob
     
  17. This is meaningful information.
     
  18. I checked with Wedbush and the CME. Based on what you have provided me, and the sheet I posted, I expect you can get the non-pro excemption. Small company, one owner, one account, not a CTA etc.

    Bob
     
  19. I've been with TradeStation since forever trading futures (as a "non-Professional") but not VIX so can't say how that would be treated. Every broker/platform has its pluses and minuses but I would think they would have to treat pro/non-pro status based on SEC/CFTC requirements. Otherwise find another is the right course.
     
  20. The SEC/CFTC does not make this decision, The definition comes from the data provider. In this case, the ICE, CME or CFE. ICE gets around this by not having non-pro MD. All they have is pro market data or delayed.