Is it worth it to switch from MB to IB ? Hi ! I am thinking about switching from MB to IB. I like MB, did not have any problems. It is my first broker. I am satisfied with the execution speed , it seems like its fast enough. I trade right now about 10.000 shares a day, and 200-500 share lots. Round trip at MB costs $0.02. At IB round trip costs $0.01. It seems like I should save at least $100 a day on commissions at IB. Though I have couple questions about IB: 1) How is the execution speed ? Is it fast enough ? Guys who use IB and trade many times a day, what can you say about the execution speed ? 2) At MB you can avoid NYSE Specialist fee ($0.009 ) by choosing âDAY-NBâ as the order expiration ( in this case MBâs software resubmits order to the NYSE every 4 minutes, and it seems this allows to avoid the fee ). The question is : does IB have similar feature, that allows to avoid NYSE specialist fee ? Thank you for help !
i use both and think ib's execution speed is a bit better and there commissions way better. not only is ib .005 vs .01 for mb but there's no sec fee for ib which takes it down near .004. i called mb recently and told them there commissions sucked and weren't acceptable. they said they were going to annoucne .005 or so at end of june. 2 motnhs ago mb offered .004 all in for a week or so and then it disappeared from the site. but to be honest if you really arr serious about day trading and make a living at it id look at a professional platform which is 100 times easoier to use than ib or mb
Thank you for reply ! Is it so that there is no NYSE specialist fee of ($0.009) with IB service ? I am glad to hear that if thatâs the case. So it is just $0.005, and not additional costs per transaction ?? Sir you said about professional platform, what kind of platform you are talking about, would you explain please ..? Thanks againâ¦
Stock: Why? If your main reason is for price issue at the expense of software integration then your might not be saving anything.
I have saved a truck load of money in commissions since I switched to IB a few years ago. That has more than offset the additional expense I pay for 3rd-party software. Yoy make your own choce-- that's part of the game. Good Trading to you.
I use Medveded Quote Trucker, and I think if IB provides data feed the same as MB, then it will cost me nothing to Quote Trucker with IB, because right now I use it with ads. Any complains about execution speed ? Thanks