FWIW: I have done business through IB for over five years, and rarely had a problem. The typical problem never had anything to do with money or trades. I have had account sizes ranging from $25,000 to $120,000.00, and the rare problems were the same. I trade futures options on the ES. Believe me when I say that I have tried every futures broker; none of them hold a candle to IB. With negotiation, I have been able to get the commissions down to IB's level, but IB's TWS blows away the primitive software used by most futures brokers. Before trading futures and FOP's, I invested in stocks as well. I used all of them: Schwab, Jack White, TD waterhouse, Datek (one of my favorites), and Brown and Co. Compared to IB, they were overpriced and primitive. I am sure that their technology and commissions have improved. The only possible obstacle to using IB for investors is the monthly fee charged if commissions per month don't total a certain amount. Still, do the math to compare. The bigger accounts don't necessarily implied smarter traders. Personally, the smarter you are, the less you need customer service. I guess because I keep my trading simple, I have fewer problems. Like everything else, you have to weigh the good with the bad when looking for a broker.
every ceo shold speak with such blunt honesty as Mr. Peterffy. yes port not everything is predictable with 100% accuracy. as mentioned by peteriffy it also works in your favor at times.
On **all other occasions** when IBRK dumped, the market was reaching a point of inflection and turning up. At those times, the stock proved to be a great trade later on. This time around the market is not in the same condition as during those other times. The market seemed especially strong the last few days, but IBKR still seemed to dump down. I think there might be a point or two on the upside, but conditions are definately not the same as in other times for a good swing trade.
LOL. I expect that Port and I will see each other as different characters in your play. I still stand by the "Port is a moron" view. It doesn't have to be IB either ... for him to draw "run on a banker" conclusions from a chart is simply moronic. The reason I post on IB is that I know something about them. Also that they do seem to attract some idiotic posts. Perhaps other brokers do but none of the ones I've ever been with get much attention here (datek, brown, fox, striker (dipsticks), smithbarney, blah blah blah). And I know next to nothing about schwab, etrade, etc etc. Once you've found a broker that meets your needs with reasonable costs the pilgrimage tends to end. PS, To the party who pm'd me and said "even morons have a right to post" I'd have to agree although I wonder if we shouldn't just lock them away and feed them anti-psychotics. Or vote them into political office?
i have never owned the stock, but do use IB as my broker for my futures trading (i use a different broker for stocks). in my 5 years with IB I have never had a major problem, occasional freezing of TWS, but nothing critical. In fact the freezing episodes seem to occur less frequently then in the past. I like IB because I can access my money easliy. I wire $$ out and into my bank account about 1x month (depends on how profitable the month was). I usually initiate the wire transfer after market hours, and the funds show up in my bank account at some point the next business day. I know there are cheaper brokers out there with lower comm., but I have also heard that some brokers make it a bit difficult to get access to your cash when you want it.