Ok. I don't get it. Some people say that IB sucks with connection problems and they will never use IB again. Others say its great, no problems and they love it. How can there be both? Mike
If you are a serious trader, I can't see anybody using Interactive Brokers. Its a good alternative for people just starting out, or the causal trader.
I guess the question is how many shares or contracts do you trade at a clip. Every broker I have ever used has downtime, it just goes with the territory. I have only ever had one day of connection problems with IB. I do see them post for various connection problems like NYSE or ARCA from time to time. The big advantage in my mind is cost. With IB I can buy and sell 100 shares for 2 bucks. This means a stock has to go up exactly 3 cents for me to make money. With any other broker I use I need at least 20 cents to break even. Big difference in this market. Now my preference is to take lots of little positions. But if you are swinging 1000 shares or more per trade then a $12 or $14 commission per trade might not matter as much.
The discrepancy could be that some people are on a faster server than others or that it is related to local internet traffic. But he facts are that they are the cheapest retail broker.
I have been trading with IB all day for over two years and I have not found a better broker. I think IB's TWS software is the best for any size account and the bigger the account and order size, the better are the advantages of TWS for the user. If trading small orders, IB's commissions are the best! Catoosa
I currently trade with Terra Nova and RealTick. Love the software. Hate the commisions/fees. Terra Nova has been very stable for me. And I have a very stable DSL connection. Yes, certain ECNs have connection problems or stuck quotes in Level II. I am not concerned about that. I am concerned about flat out losing connection and can't trade issues. I plan to keep RealTick for the charts and level II. I just need a reliable, quick execution broker that does not kill me with fees.
I have been using RealTick for both trading and information for years and I would not be without RealTick for the information and accurate quotes. When it comes to placing orders, RealTick or any other trading software I have used do not come close to IB's TWS (this is where TWS is light years ahead of RealTick). However, RealTick is light years ahead of TWS when if comes to information. For me, I have to have both RealTick and TWS. Catoosa
Catoosa Well said ! check comments on http://www.elitetrader.com/vb/showthread.php?s=&postid=63838#post63838 Josh
I also haven't found a better broker than IB. I've compared over 50 brokers, based on price, speed, reliability, software etc., and IB comes as the best Electronic direct access broker overall for a self-directed trader. Price: Best. $1/contract options; [$2.50 + (half cent)/share] or less, for stocks; $2.40/contract futures. Speed: Excellent. Instant electronic execution/confirmation. Reliability: Above average. Better than Datek. Software: Excellent. Fast, stable, hot keys and point and click execution. Basket orders. Combination orders for options etc... The software is constantly updated. IB is the best broker overall. If someone claims the opposite, simply show a better overall broker and support it with intelligent arguments (price, speed, reliability, software etc.).
That is because so many people do not qualify what they like or don't like about IB. Here it is: IB is _VERY_ good for the e-markets, e.g., options, e-minis, NASDAQ, etc. IB _SUCKS_ on NYSE, period. nitro