where to go after IB?

Discussion in 'Retail Brokers' started by Bob111, Dec 10, 2008.

  1. Bob111

    Bob111

    i would appreciate any advise for reliable,secure broker,who have decent commission rate,API and did not reserve your cash for every order you place(just like IB USE to does)
    IB is good firm,but recent ridiculous margin changes along some other constrains, which sometimes overlapping each other, make my relationship with them impossible. and i produce for them 40-70K in commissions alone...
    here you have it IB...enough is enough..
     
  2. I suggest Bear Stearns or Lehman Brothers :cool:
     
  3. Bob111

    Bob111

    here is a today's fine example of IB's nonsense
     
  4. tomu

    tomu

    What do you mean by this. Are you saying you want to have $100k in buying power in your account but be able to have open orders that equal more than $1 million?
     
  5. Bob111

    Bob111

    yes
     
  6. tomu

    tomu

    I am pretty certain you are not going to find any broker that allows that. It is a disaster waiting to happen, especially with API and blackboxes.

    Sorry
     
  7. Bob111

    Bob111

    plenty..not to mention prop shops
     
  8. Theres no reason for IB to take that risk for you.

    Go trade at a prop shop where your fellow traders get hosed if you blow up.
     
  9. Bob111

    Bob111

    as i mention above IB have implemented several constrains to prevent over fill. we can go over it again and again..not to mention,that they can and will liquidate
    everything from your account in a blink, in event of margin call. not to mention,that they can and will freeze and liquidate all other accounts with them REGARDLESS to ownership, as long as those accounts have your name on it.
    not to mention legal actions they can take. it's imo plenty of power to them, compare to what customer have to deal with.
    wait a minute! i have more s*t than they do, implemented on my side to prevent that. i can dig into my posts here, on ET from 2-3 years ago,when i propose for IB to set margin restriction on client side for this particular purpose+ adapt some sort of cushion.
    did anyone listen back then?

    we can argue about, but in this thread i'm asking for help. if you can't recommend anybody besides Lehman-please, don't post. as long as i'm making money-i'm not interested in anyone's opinion about my approach.
    i've been around for years and i do have prety decent record, so-i think i know,what i'm doing..
    btw- just got off the phone with genesis securities and they have no problems with orders/executions/ratios etc and 4:1 margin. can have 6:1 with different clearing firm.
     
  10. maybe you know what you are doing, but IB sees everyone, and they know how many imbeciles there actually are.
     
    #10     Dec 10, 2008