IB is ok for small retail traders, but once you get to a certain size, you need better customer service and security than an online retail brokerage house.
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amazing ib only has 80k accounts?
- Thread starter brandon12
- Start date
Quote from neke:
Yes I was also perturbed when I found out that their total assets under management is only 2.5billion dollars. That is less than one percent what Ameritrade and Etrade have. Looks like IB is for a lot of retail folks trading 200 shares. Their unfriendly service makes it difficult for them to get big accounts. I wonder why they are going public.
Apparently the prospectus isn't available in gibberish... IBG's brokerage division is 10% of their ROC. You're buying into their marketmaking operation which earns >50% per year.
Quote from brandon12:
even options express has 250k accounts per there ipo prospectus. 80k accounts is tiny as i thought they had at least 300k or so. tell em 80k is wrong as that scares me to have 6 figures there
Don't put your money with IB. IB is for amateurs. If you have six figures you want trade, then pay a little extra and put your money into a more established firm where your money is safe and you have phone support for account issues.
Quote from daytrademargin:
Don't put your money with IB. IB is for amateurs. If you have six figures you want trade, then pay a little extra and put your money into a more established firm where your money is safe and you have phone support for account issues.
Priceless. This coming from the guy trying to scam some optionetics garbage. Hey clown, stick with E*Trade.
Peterffy was born in 1944 making him about 62 years old. He needs to convert his one-man show to cash. By going public with IB he sets himself up to slowly sell off his company.
It is nicely convoluted, but the way I read the prospectus, the setup will allow Peterffy to slowly sell the 95% of IB he will retain after the IPO to the new public company. All this without losing sole control for a long time.
Jack
It is nicely convoluted, but the way I read the prospectus, the setup will allow Peterffy to slowly sell the 95% of IB he will retain after the IPO to the new public company. All this without losing sole control for a long time.
Jack
Quote from JackR:
Peterffy was born in 1944 making him about 62 years old. He needs to convert his one-man show to cash. By going public with IB he sets himself up to slowly sell off his company.
It is nicely convoluted, but the way I read the prospectus, the setup will allow Peterffy to slowly sell the 95% of IB he will retain after the IPO to the new public company. All this without losing sole control for a long time.
Jack
He owns virtually all of the shares. He earns better than $200mm each year. Do you think it's an issue of personal wealth? IPO = transparency = cheap capital.
#1 Guys like Peterffy never have enough $$ - its like a race with them. Besides he has to pay for that new house in Ct. (& the sub-prime market is crumbling - lol).
#2 IB "is what it is" - they don't focus on happy customers because we keep coming back even after getting screwed by them (which I have).
But they keep improving the automation you have available & can't be beat for cost - seems their objective is to overcome the poor customer service by making it unnecessary.
#3 Will the IPO be a good investment? ST probably LT Dlo we traders ever worry about t5he LY?
cowpok
#2 IB "is what it is" - they don't focus on happy customers because we keep coming back even after getting screwed by them (which I have).
But they keep improving the automation you have available & can't be beat for cost - seems their objective is to overcome the poor customer service by making it unnecessary.
#3 Will the IPO be a good investment? ST probably LT Dlo we traders ever worry about t5he LY?
cowpok
Good points CP