From MB trading to IB

I

innovest_11

Got my account transfer to IB from MB, but realised that IB margin rules sucks, my account is under $25k, and i exceed 3 day trades, so IB algorithm locks me up for 4 days no trading.

But in MB trading, if i exceeds number of day trades, then i'll be termed PDT fro 90 days, and auto convert to cash account, but at least i still can open new long position (but cannot short).

IB totally cannot trade, i just wasted my chance today, feel like going back to MB trading already
 
Moved back to MB Trading, heard ib don't pay first 10k interest while mb does, and also i more of swing/position trader rather than intra day, and also there's inactivity fee in ib
 
I think that MB Trading has a great platform. The only drawbacks for me:


- no web-based interface, for when you are behind a firewall (supposedly coming soon)

- no ability to enter orders late at night / early AM for the market open (they close access to their market server).
 
Quote from innovest_11:

Moved back to MB Trading, heard ib don't pay first 10k interest while mb does, and also i more of swing/position trader rather than intra day, and also there's inactivity fee in ib
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IB does pay interest on the first 10K, at a higher rate than any other broker, if you sell EFPs equalling your account value. The only drawback to selling EFPs equal to your account value is that it cuts your remaining available margin in half.

IB's inactivity fee is only a fee of $10/month, but this is waived for any month in which you generate at least $30 in commissions, so it has no impact on active traders.
 
Quote from jimrockford:

IB does pay interest on the first 10K, at a higher rate than any other broker, if you sell EFPs equalling your account value. The only drawback to selling EFPs equal to your account value is that it cuts your remaining available margin in half.

IB's inactivity fee is only a fee of $10/month, but this is waived for any month in which you generate at least $30 in commissions, so it has no impact on active traders.
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but they dont pay interest for currency balances under 10k (for usd) and similar for others. i think i have about 8k spread out in various currencies other than my base currency which sits there and earns me nothing. i hope IB changes that.

the inactivity fee shouldnt be an issue for anyone who is actually going to use the account. i just wish they did the service fee crediting using commissions on more services, like data feeds.
 
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