Thinking moving to MBTrading because a little scared by hardware requirement of IB. Currently I am with Scottrade, which is not very user friendly and often got server connection problem. Going with IB with trading small lots make a lot of sense. I usually trade 1000 shares and still save $5 for one trade with IB if I am in MBTrading ($9.95 per trade). I seem to like the MBTrading trading software. It seems easy to use (never used though) and has free level II.
I am with TN-MB Trading, and their service is excellent. If you need to reach the trading desk, they pick up on the second ring. Nice comfort level and peace of mind are worth $$$$$$. However, I have recently been considering Globaltradz, Inc at Daytradz.com. They use Realtick and they just reduced their commission structure. They have a calculator on their website for comparison shopping. I have not switched over yet, but since they maintain a presence in the chatroom I subscribe to I am giving them some consideration. If anyone reading this thread has any experience or comments on this broker I would love to hear them. --arky
IB's TWS is pretty light on system resources. Where did you get this idea? The oldest machine I'm running TWS on is a PIII-450, but I'm sure it would run on much less. TWS's memory usage looks to be about 30Mb. The cool thing about IB's commission structure vs. MBT and the other $/ticket places is that, if you get hit for 100 (or 10!) shares, and you cancel your order because the market moved away from you, it only cost you $1 instead of $10 plus ECN fees. Or, you get hit for 300 shares, and decide you want to sell it back out and reduce your risk, while still leaving the remainder of your original order in place. Getting out of the 300 shares costs you $3 instead of $10 plus ECN fees. More importantly, for me, is that with IB, I don't even have to waste time thinking about that risk/cost trade-off.
arky, The TN/Globaltadz dilemma is interesting. It's good to hear about how happy you are with TN's trade desk, and I can only imagine the peace of mind being beneifcial to your trading...so is there another reason that would lead you to switch? (BTW, I work with TN. Didn't want to think I was trying to put one over on you)
http://www.successtrade.com/getting/commissions.html http://www.pointdirex.com/live/en/ns/html/feeschedule.htm I have no experience (or affiliation) with either of them but they look pretty cheap. fwiw