There is a small catch: the first $10K of cash in you account doesn't accrue interest. And as far as Cyber having OCA ... Yikes! Please don't compare Cyber's stops or execution features to IB. Cyber's are total junk. IB's execution features are server based ... once you transmit an order the server handles it and doesn't care if you log off or crash or whatever. With Cyber it's all client based. When you log off or crash your controls vanish. IB is great for swing trades, Cyber is a joke. The one problem with IB at the moment is that they may be enforcing an artificial 3-day clearance due to renewed enforcement of Reg. T. :-( Richard
rfoulk, the first $10K of cash in you account doesn't accrue interest. Yeah, I noticed that interesting policy. Guess a portion of those lower commissions have to be made up somewhere. And as far as Cyber having OCA ... Yikes! Please don't compare Cyber's stops or execution features to IB. Cyber's are total junk. IB's execution features are server based ... once you transmit an order the server handles it and doesn't care if you log off or crash or whatever. With Cyber it's all client based. When you log off or crash your controls vanish. Don't want to get into an us vs them discussion, since I use cyber and plan on adding IB capability for small-size order execution. But there are things I definitely like about cyber, and neither cyber's stops nor execution are total junk as you claim. Cyber's order-execution is extremely fast with direct access to 9 ECN's, 5 "smart" algorithms, along with a few routing methods not available on IB. The CyberXchange routing algorithm is superior to IB's BEST which can delay orders for a painfully long time, as previously discussed on this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=2115 Cyber's Nasdaq stops work very effectively, and as many, many people have complained here, IB's are hit 'n miss. As to stops being server or client based, I agree with you and would prefer the former as long as: 1) I could absolutely trust that they would get sent immediately according to my rules (not some nonsense about the inside ask has to be hit twice before a sell-stop is activated...) 2) That they wouldn't be sent until my preset conditions were hit so that they wouldn't be sitting in some specialist's book, etc. Truth be told I rarely set hard stops, only when I have multiple positions where I can't watch all. In those cases I set conditional stops that specify my criteria, my price to be hit as the trigger, my price to be filled, etc. And what if my computer crashes or I'm disconnected? Then I either reboot, call the order in, or close the position on their website (when I start CyberTrader I always open up my browser to the trading section of their website for backup). Besides, I keep 2 computers running for redundancy and further backup, so if one goes down I can enter any orders on the other. And the reason I can do that is because cyber allows multiple logons to the same account. Unfortunately IB doesn't. IB is great for swing trades, Cyber is a joke. If you mean unattended swing trades then you're right. But I attend to all my trades. If I feel the need to place a hard stop I set it at the beginning of each day. The one problem with IB at the moment is that they may be enforcing an artificial 3-day clearance due to renewed enforcement of Reg. T. Ah yes, another nice thing about cyber is that cash accounts are updated realtime, no 3-day delay before you have access to trading your money. Very nice for cash accounts of any size, absolutely critical for trading within an IRA. Both brokerages have advantages and disadvantages, no need to approach it as either/or, I prefer to use the best of both.
Cyber is just too expensive. Anyone who wishes to pay 10 times more please step right this way to Cyber. short fool
Cyber is just too expensive. Anyone who wishes to pay 10 times more please step right this way to Cyber. short fool heheh...ditto on that....cyber tech apps are weak compared to whats out there, there executions are tight, but the commissions are out of this planet...and I for one don't want to contribute to saving another rainforest...which the previous owner did with some of my commissions... my 2 cents
trevor99 asks: > Who will release bp realtime or same day for swings after sept 28? anyone? IB, datek, dats? The new NASDAQ rules clearly state that clearing delays are at the discretion of the broker. So brokers like Datek, and (I hope) Tradescape will most likely do the right thing. I haven't read the NYSE rules but others here claim they require 3-days, no exceptions. If that is true, and if IB can't get out from under them then they are probably in trouble. Richard
I agree. Cyber is too expensive. I used Cybertrader for awhile and you get alot of bells an whistles but not nearly enough substance for what you pay for. The charting is very weak and not nearly as flexible as many other systems. I found it to be a major disappointment.