I think it's easy and cheap to say that one is the best in the world. I pity traders who believe such statements. I expect them to be smarter than that. why don't you all stick to facts, getting too much bad rap from members here.
And actually, I was referring to the comment about a small installed base. I meant the average trader wouldn't or couldn't pay for their products. And, if I had to use someone besides our own software for order entry; I would use yours over theirs ...
JTrader needs Microsoft´s Java but some Win XP users may be unable to get it at the moment: www.microsoft.com/java/xp.htm
def your comments are normally loyal to IB but also helpful and informative BUT you are way off line when in comes to your comparison of TWS with TT, or even JTrader Have you ever used TT in trading conditions? You may have all the numbers for the installed base, but I am pretty sure that if you took the gross contracts going through platforms such as TT, GL etc, that it would blow away TWS (even assuming that your employees use it for all their trading)
no need to go tit for tat. I'm sure serious volume is going through all the platforms. i also know which of the firms are profitable. my main point is that claims stating one platform is by far better are out of line and fruitless - especially when stating that's why institutions use them. Sure TT has lots of bells and whistles, so what. most institutional desks don't need or want them. they care about fast and accurate order entry and reliable and fast back ends. most of the better platforms/brokers offer that. For every person like yourself stating that platform X is better than TWS, I can probably point to another who prefers TWS over the same platform. To each his own.
def - no one is going to claim that TWS is better than TT or GL but that does not mean that TWS is not more than adequate for the average trader's type of trading, and IBs openess with the API is a 5 star plus point
steve, since you asked... I can point to the head of a derivatives trading desk at a leading i-bank in HK who uses TWS for his PA. He pushes large volume through his platform (one of the two you mentioned above) each day on his desk. By night he trades through the TWS for his PA. He has said on numerous times that the TWS blows the other platform away. since you claim to know the universe of all insti traders, I just point to one example of someone who thinks differently. Note, I'm not claiming that the TWS is better than TT or GL nor am I saying that they are better than the TWS. The person mentioned above has a great deal of experience and it turns out the TWS fits what he was looking for. The fact is, many of the large institutional trading firms, will have a direct CTCI connection utilizing their own front end. Nevertheless, I'll repeat. Most large institutional desks don't care about the bells and whistles. They know what they want to do, when they want to do it and just want to place orders quickly and accurately. Finally, most people on this board are not institutional traders. You shouldn't compare yourself to them. Most on this board are scalping. some institutions surely scalp. most however are using strategies such as arbitrage, hedging and speculation. A completely different style of trading. Thus I'd argue that stating that the big institutions use us or them isn't even much of a selling point.
hey def - i'm on your side! would love to know exacly what the guy in HK finds better with TWS - maybe i am missing something here! i bet it is GL that he is using daytime, and not TT - i am not a GL fan myself
won't comment on the other front end name. he seemed to prefer the flexibility of layout and ease of use. for his PA account he was naturally favorable on the commission structure and product range. after using the TWS he came back and said he wished he were able to switch to the TWS on his trading desk. i don't think you're missing anything. you found a platform/broker that you like and works for you - stick with it. there is no holy grail to trading. in the end, the platform is not going to make you money. i'm sure there are still plenty of people out there making a killing calling in their orders to their broker. it's where you enter and exit the market that counts.
I receive sometimes private messages asking me about a platform or another. I want to remind members that moderators are not affiliated to any sponsor, so I won't answer these requests as such. believe it or not, we are actually independant. tntneo