From a WSJ report: Interactive Brokers reported a 21.5% decline in first-quarter profits Thursday, earning $13.7 million, or 30 cents per share, versus $17.5 million, or 41 cents per share, over the same period last year.
Uh, you just figuring this out? I held that dog for 2 years because I bought what I believed in. Still believe in how great IB's technology is, but the stock is a dog.
You know it's a sign that you haven't done your due diligence if you think IB has any great technology...or ever did. TWS sucks. Their only technology is jack of all trades master of none. There is no technological advantage in trading at IB. None, because their platform's terrible. I find it useful as a professional for account allocations but it's entirely too confusing, and the smart router will send you to 24/6 ECN's and not the primary exchange, which is what they're supposed to do anyway if NBBO isn't at the exchange then they're required to stick it somewhere else. No, there isn't any great technology here. They just offer a wide variety of securities types, but the platform's terrible, which, if it weren't for the platform sucking as much as it does I might give my vote a better rating for them. Other than fills on time that much is to be expected, and just because they offer all types of securities and commodities, bonds, forex, stocks, options does not mean that they have any technological advantages because they don't. I especially dislike them as a broker requiring clients to pay for data. That shows they aren't very big.
I don't know, I'd rate the previous poster as an ignorant slob. How about you? Maybe one reason IB is not minting money from the brokerage side, is they actually do provide value to clients, and don't seek to enrich themselves at every opportunity. Just sayin.
That's coming from firsthand experience with IB. It's also after research building high frequency trading algorithms for ECN's, and you're going to sit here and tell me I'm an ignorant slob? There is no special advantage using IB, and the technology is as generic as the platforms I saw my local brokerage companies using during my internships. (Just because I punked you out three times defending Tim Sykes does not mean you have to bring it up again, unless you want to get punked out even more).
they are truly pioneers in many fields,markets years ago. i can understand their position. in current environment they have very little incentive to do anything. they keep cutting the cost of pretty much everything. there no improvements\dramatic changes,new functions for like last 3-5 years. Peterffly is very wise man and saw it coming long time ago...and sold all this to a public. can't blame him..
lol, you're not embarrassed to bash the broker that brought .5 cents a share and less to the masses years ago, and also not ashamed to defend a lunatic like Sykes? Maybe you're Sykes. no? then you must be the guy pimping systems under the same nick.