Barron's Online Brokerage Review

[Tech Analysis]

I'd rather IB NOT provide (and charge higher fees) for an integrated charting package. This way traders can choose their own and mix-n-match services. Nobody does everything well anyway so why not let each company do what they do best and we'll choose accordingly. I use esignal, IB and briefing.com and I have yet to find a broker that provides 2 out of the 3 at a decent price all from one source.

And Theresa can wipe her ass with her columns for all I care. She oughta work for CNBC and be just as useful to the serious trader. Scottrade is a joke.

 

[Magna]

Quote from Avaturk:

The lack of an integrated charting platform in IB is a real shame....It is such a no brainer I wonder why they haven't done it yet?

Quote from AAAintheBeltway:

At times I have thought it would be nice if they had charting and analysis, but there is a lot to be said for having flexibility. You are not wedded to any feed and can use whatever charting you want.

Wedding a superb, stable, reliable charting program to IB is anything but a no-brainer. I have to agree with AAA, I prefer the flexibility of a separate charting platform and find it doesn't crimp my style whatsoever in using IB for order-entry.

 

[nitro]

Quote from Zuizo:

Have you demo-d the Point Direx Platnium platform? Its pretty nice, cutomizable, and offer a couple of premium charting packages. The commish structure is just as good as IB, in some scenerios better.

I' m going to open a SMALL account to experiment with them, see how speedy executions are, reliability, etc.


-- Z

Z,

I have been thinking the same thing. Currently, I have an experimental account with http://www.choicetrade.com Their comissions are incredible (e.g., Bullets .01) with no minimums, but are even more sofware challenged than IB.

It is hard to set up too small an experimental account, as the PDT rule would stop one from really putting to the test. That is why I have $30K at choicetrade...I may have to try PD...Keep me on your update list.

nitro

 

[nitro]

Quote from Avaturk:

The lack of an integrated charting platform in IB is a real shame. Even though I have an IB account, I rarely use it for this reason (and yes, I am aware of all the third party charting options-have tried them all). It is such a no brainer I wonder why they haven't done it yet?

Agree that Omega/IB would be awesome.

Good question. IB charges for TWS, which is very minimal software meant for quick order entry (rebated after 30 trades a month.) I would not mind paying a more if they had a first rate charting package like TS or RT (rebated after whatever numbe of trades.)

The reason they have not done it is certainly an allocation of resources issue, coupled with the analysis that adding charting is probagly not going to affect the niche they are goig after. I disagree with that, but it is certainly arguable.

nitro

 

[Whamo]

Quote from nitro:


Good question. IB charges for TWS, which is very minimal software meant for quick order entry (rebated after 30 trades a month.) ...
nitro

I beleive it's $30 in commissions and it's free.

From IB's site:
US Securities & Commodities Non-professional Bundle (Includes all Stock, Options and Futures exchanges) Free (10.00 USD Market data fee if less than 30.00 USD in commissions per month)

 

[nitro]

Quote from AAAintheBeltway:

I think the laughable results of past Barron's online brokerage reviews would convince anyone to just ignore this. As I recall the woman who wrote the review a couple of years ago basically didn't have a clue about direct trading and made all kinds of mistakes. This sort of review is fine for buy and holders who are agonizing over Schwab or E-Trade but means nothing to us.

IB is a specialized product, and it is not suitable for the average Barron's reader. At times I have thought it would be nice if they had charting and analysis, but there is a lot to be said for having flexibility. You are not wedded to any feed and can use whatever charting you want. A fully integrated package like RT is nice for stocks but not needed for futures and options.

Yes, I remember that last year as well - we even discussed it here on ET.

I agree that having IB offer a charting package is a double edged sword, especially if you are charged for it and have no choice not to use it and not be charged. However, if it were offered as a "package" the way that pointdirex offers it, where the only difference in price between the levels would be the added cost of the package, would, IMHO, offer the greatest flexibility.

Not sure what you mean by "..a fully integrated package is nice for stocks but not needed for futures and options." I certainly don't agree with that as far as my trading is concerned

nitro

 

[nitro]

Quote from Whamo:



I beleive it's $30 in commissions and it's free.

From IB's site:
US Securities & Commodities Non-professional Bundle (Includes all Stock, Options and Futures exchanges) Free (10.00 USD Market data fee if less than 30.00 USD in commissions per month)

Yes, I don't even know what it is as my typical comissions for a day pays for 10-20 IB's for a month.

nitro

 

[nitro]

Quote from hans130:

someone provide a link please.

thanks

If I provided a link, you would have to pay for the online version of Barons/WSJ. Best to just pick up a copy if this of interest...

nitro

 

[nitro]

Quote from quicktrader12:



Point Direx kind of scares me. Late last year they suspended trading for weeks and did not give any traders notice. If you trade for a living that is unacceptable and for that reason I am a bit sceptical about them.

This was discussed on another thread extensively. I remember 1 1/2 years ago people were saying the same thing about IB. I decided to give IB a try to find out for myself. I am glad I did.

nitro

 

[nitro]

Quote from dis:

Ranking Scottrade above IB is a joke. IB scored 3.0 for its range of offerings. Give me a break.... I can trade stocks, options, futures, currencies from a single account.

optionsXpress is superior to IB only for those who have a sizeable cash (i.e. IRA) account and primarily trade options spreads.

I agree.

nitro