Quote from 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.
Can you give some details about your nightmare trades? What went wrong, why was IB responsible, and what did IB do about it?
Granted that IB has some customer service problems, but I believe this weakness is outweighed by the good at IB, for a knowledgeable trader, and that IB also continues to improve its customer service.
I am mystified by your stating that the IB platform is "dated and hasn't changed much". This statement is so far off from the truth, that it makes me a little suspicious as to whether or not you are truly an IB customer. I hope you will forgive me if my suspicion is unfounded. Your assessment is also the kind of judgment which could only be made by a knowledgeable trader. A knowledgeable trader would understand that the IB competitors you suggested perform unacceptably in the area of order routing and execution. Yet you seem unaware of this. Hmm.
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