Def,
I've just recently started using IB and have enjoyed the IB experience so far.
Commissions are great, executions (with the exception of Nasdaq stops) are good as well. The user interface is a little clunky in today's Windows GUI world, but once you get the hang of it, it works well.
I'm certainly keen that IB stays in business with its current business model (although more services at lower cost would always be welcome!).
If there's anything I/we can do to help you guys succeed, let us know. I've told my buddies about IB, but like most people it's easier to stay the course rather than deal with change.
Here are a couple ideas for your company to consider:
+ My other broker has a Friends and Family referral program, where people I refer who opens new accounts gets 10 free trades after making 10 paid trades, while I would also receive 10 free trades at that time as well. Maybe such a program would help you generate more accounts as well. Might have to be more than 10 trades free to make it econonically attractive to people given IB's low rates.
+ Eliminating the $1 minimum commission might generate more business for you as well, as it'll allow people to more comfortably trade few shares. For example, there might be someone who only wants to trade 10 shares, but they are balking at paying 10 cents a share commission. True, it's only a $1, but for some people they just can't stand paying a high per share commission.
These same people might someday increase their share sizes in the future as well.
Keep up the good work, both on the EliteTrader boards and at corporate HQ.
-- Punter
I've just recently started using IB and have enjoyed the IB experience so far.
Commissions are great, executions (with the exception of Nasdaq stops) are good as well. The user interface is a little clunky in today's Windows GUI world, but once you get the hang of it, it works well.
I'm certainly keen that IB stays in business with its current business model (although more services at lower cost would always be welcome!).
If there's anything I/we can do to help you guys succeed, let us know. I've told my buddies about IB, but like most people it's easier to stay the course rather than deal with change.
Here are a couple ideas for your company to consider:
+ My other broker has a Friends and Family referral program, where people I refer who opens new accounts gets 10 free trades after making 10 paid trades, while I would also receive 10 free trades at that time as well. Maybe such a program would help you generate more accounts as well. Might have to be more than 10 trades free to make it econonically attractive to people given IB's low rates.
+ Eliminating the $1 minimum commission might generate more business for you as well, as it'll allow people to more comfortably trade few shares. For example, there might be someone who only wants to trade 10 shares, but they are balking at paying 10 cents a share commission. True, it's only a $1, but for some people they just can't stand paying a high per share commission.
These same people might someday increase their share sizes in the future as well.
Keep up the good work, both on the EliteTrader boards and at corporate HQ.
-- Punter
