IMHO IB is the best broker for the typical retail stock and electronic futures and options trader. If you work with homebrew automation or add-ins they are essential. Over 3 years and many thousands of trades I rarely have a problem, and have only needed CS once (and they responded quickly by email). Yes, there are a few glitches from the frequent TWS upgrades, but I think (I hope) this is getting to a more solid workstation.
I've used IB since 2002 and have had an overall good experience. I like the universal account and the simplification that brings with it. I now trade exclusively though IB. Futures commissions are very good for retail, imo. Stocks are a tiny bit high, since it's tough to get to .5c/share unless all your blocks are large (which mine are not). If you trade 50k+ shares /day you should consider someone who gives you commissions based on total volume. All in all I recommend them to anyone who asks.
I only use them because of the margin, in that my style is to put a lot of orders out at targets. IB doesn't count the margin until you get filled. Real tick and others count open orders. I swear, it would be hard to design a more convulted, dysfunctional, uglier software then what IB is even if that was your goal to do so. Ib takes the cake. You can't even verify orders before you hit transmit and ib has some quirks that will change limit prices to market prices if you are not careful. John
About ready to give up on IB and their buggy, crazy TWS... On balanced, I'd say "avoid" unless you absolutely need a broker that does everything.
IB when combined with Medved´s product would eliminate the need for : Realtick Cybertrader Rushtrade Redi MB Trading ....and there are others.... because on a relative basis IB has moved its commission rate to .005 including all ECNs... Medved is an excellent charting program which fits most needs and can be free....backed by responsive service... .............................. Genesis offers even further discounts...and 10:1 or even better leverage...and is very very fast.....perfect for Nasdaq traders... ..................................... The other companies such as Schwab...Brown...Scott...Etrade...etc..are for mom and pops....
Genesis charge a $200 a month software fee. How much do you need trade to have the saving to cover the software? I don't day trade. I will stick to IB.
Could you elaborate: What I see is Geneses is at $0.01/share or $7/trade up to a 2000s limit and IB is at $0.005/share with a 0.2% of the trade maximum fee. Genesis also charges a 200/month software fee. IB has a $0.003/s fee for certain order routings. To me this seems like IB has the advantage. DS
I guess you looked at this page, is for those who don't know anything http://www.gndt.com/comissions/retail.htm Look at this page http://www.gndt.com/comissions/proprietary.htm Genesis was offering $0.005 one year ago, with low volume. You could get $0.003 to $0.002 with volume I even know a Genesis introducing broker who charges their trader $0.005 with no volume commitment who will pay for the plateform? call them and find out for yourself