I've been with IB for 2 years and have had to use their phone desk maybe 2 or 3 times to get out of a position.
I almost opened an account with IB before I ran across FFasttrade. However, I waited on hold for an eternity trying to get a questioned answered (about funding my account)!! I figured if I couldn't get my questions as a PROSPECTIVE customer, what kind of attention would I get once I BECAME a customer. When choosing a direct-access platform, bigger is not always better!!! In all fairness though, I am not the most internet savvy individual .... like doing things the old-fashioned way, talking to a live person. Their system IS fast and has saved me $$$ trading dax and bunds.
Bundtrader : I concur - I had a similar experience with IB . Not only did I have to wait forever - but then I got a condescending little smart ass on the line ! Sorry - that dog don't hunt here ! I went with another broker that costs me more per round trip, but who has Outstanding customer service - and more ! But then, I don't trade dozens of contracts every day either ! I may Still open an account with IB later - as a backup ! Who knows - maybe I'll change my opinion ! QUESTION: Depending on how a person structures his business - isn't "Most" of the transaction fee tax deductible ?? "IF" that's the case - what difference will it make if one pays more for the transactions ? ( I'll bet this one has a negative answer - or why else would IB's low rates be so important to most people ) ? HOLD FORTH AMIGO"s .......................................
I've been with IB for a year. No problems. As with all brokers, transaction fees are deductible and figured into your P&L directly. Commission makes a huge difference if you are trading many contrcts each day. You can actually go even cheaper than IB if you trade 50 or more contracts per day, but for most people, IB is unbeatable. Jay
1. Fee Structure 2. Stability and Speed 3. Customer Service Fee structure: If you trade low volumes in Futures, IB is cheaper than FFastTrade and others. If you trade more than 372 Round trips per month then FFastTrade is cheaper including the System fee. In this case Larger traders are better off using someone other than IB! Stability and Speed: I have heard very good things about IB's stability, but I have been told by clients that FFastFill is quicker over Citrix. Scalpers do care about Milliseconds, so I can only go by feedback. Just opinions from Scalpers that have made the change from IB to FFastTrade. Customer Service: I have seen a lot of negative posts on ET concerning IB's customer service and I have heard that they charge an exhorbitant amount to execute trades for their clients. (Get out trades) Not too sure how much, but I have heard $30. I agree with the comment that Bigger is not always better.
Ffast trade less than 4.80? I do over 372 per month, so will have to look into that! Speed. No one beats IB for speed. Maybe the same, but not faster. My fills are literally instantaneous when using market orders (which I generally don't do). Anyone with slower results must have net connection issues. I've also heard IB has bad customer service. I have not experienced this with them though. They do charge $30 if your net connection goes down and you need to call them. Problems created on their end are not charged of course. One thing that also needs noting is that IB has been at this longer than anyone (electronic trading), and they are rated as the most finacially stable brokerage in THE WORLD Jay
Def, I wish IB was "open for business" 24 hours a day, or, if they were going to close down, close down closer to the middle of the [my] night, e.g., 3:00 AM CST. BTW, how is the information on Indications coming along? nitro
Pal you need to get some class and quit knocking competitors. Very unprofessional. At the very least get your facts straight.