Dumping IB and switching too...

M

michaelscott

I have IB and think that its coming that time to say goodbye. The IB platform has become fairly dated and hasnt changed much. The customer service is horrible and I had a few nightmares with some trades these last few months. One time I saw a certain color on my screen. I called customer service and waited for an eternity. They then had to call the exchange and meanwhile the stock was tanking. I was told I had a zero position only to be called the next day to say I was short.

I was looking at Scott-Trader and Ameritrade. What do you guys think of these two platforms?

I have read a few blogs where traders had some luck with Ameritrade. Scott-trader appears more to the point and with less fees.
 
Come on now ... if you're going to launch a thread attacking IB can you at least get your spelling right?

Its "Dumping IB and switching to ..."


OK. So, what's wrong with Sierra Chart and Bracket Trader or Ensign and Button Trader?

But seriously, go to Scott, one less person with IB is better customer service for the rest of us. Ciao! Good Luck :)
 
IB is still one of the better brokers that offer per-share pricing. Ameritrade is one of the better brokers that offer per-trade pricing. If you are looking for less fees, then also look into just2trade, SogoElite, Zecco, AmeritradeIzone, etc. Scottrade, Sogo, Zecco have no real conditoinal orders or direct routing options.
 
Quote from michaelscott:


I was looking at Scott-Trader and Ameritrade.
More...
You couldn't pay me to go back to either one of those brokers (and they do try to pay you!). If you had to choose, go with Ameritrade, they mostly route through ECNs so everything is fairly fast. Scottrade still routes nasdaq orders through their buddy network (Knight Trimark, Renaissance, etc). I shudder to think of the number of times I've had orders traded through my limit and no fills, then had to walk down to the local branch, review the T&S on Reuters (they don't even use their own platform for this..), prove to them that I should've been filled, they call broker hq, etc etc. Avoid at all cost.
 
TraderKGB, Did you finally get the fill from Scottrade? I did not have very good experience with Scottrade either. However, there are worse brokerage firm(s) than Scottrade.
 
What is the point to create a thread like this?
To tell the traders world, that you are not happy with your broker. So would I maybe, if I didn't earn my living with trading...just to help other people. Rightttt

Hmm, but what would I do, if I were thinking about the cheapest strategy there is, to bring customers at Etrade, Ameritrade, etc, etc...?

Bing, bing, bing : there's nothing like to bash a highly competitive (and to me good) broker.
 
Quote from GTC:

TraderKGB, Did you finally get the fill from Scottrade? I did not have very good experience with Scottrade either. However, there are worse brokerage firm(s) than Scottrade.
More...
Nope, just a few free trades, not really a lot of solace for the what was lost on the missed fills..
 
A piece of advice from someone who used to have accounts with Ameritrade and Scottrade and now is with IB:

Yes IB might have some problmes but choosing Amer or Scot as your next picks tells me something. Please go ahead and switch. Maybe your trade style is not suitable for IB. Ameritrade will eat you in extra costs and bad handling of trades and ...... Their margin requirements for naked Call and PUT is wrong and they know that but they don't fix it because they can charge you more. You can not even sell naked Call or PUT in Scottrade but if I want to compare Scot.. and Ameri... I will go with Scott....
Personally I rather quit trading than going back to brokers like Scott... or Amer.... Oh no I can not even imagine that.....
 
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