Good Points about IB
- Thread starter pythagoras
- Start date
Quote from cdcolvin:
Trade #1 Trading with IB, here's something I ran into today. On the 10:06am ET minute chart, YELL opened at 28.439 and closed at 28.29. I had a stop limit sell order. Stop set at 28.35 limit set at 28.30. Sell did not trigger. Shouldn't it have sold at 28.30 or better once the stop was triggered?
Trade #2. Had a stop limit buy on VRTS. Stop at 16.25 limit at 16.30. Stop triggered, then bought at 16.29.
Trade #2. After buying VRTS at 16.29 I set a stop limit sell. Stop 16.05 limit at 16.00. Stop triggered at 16.05, sold at 16.04. Didn't hit 16.00. Reversed at 16.03 and is back at 16.12 as of this writing. So, I don't know if it's IB or fate, but I didn't get filled on Trade #1 and ended up having to get out at a lower price.
But I got filled on trades at limits "better" than I set. Now because of the SEC rule I'm out of trades until Wednesday (F*#! the SEC), so I can't try to reverse my loss until then. In the meantime, I sit $1995, can't short, this really sucks.
Any comments?
#1 If you take a look at T/S you will notice that your stop was triggered when the stock traded at 28.34 after that there were only two 100 shr trades above 28.3 and then the stock dropped below your 28.3 limit. I would guess your limit would not have been filled regardless of who your broker is.
#2 and #3 look fine.
Quote from qdz:
why don't you post your review under the section of firm rating. That's going to be awesome. Thanks.
Why don't you close your account and go harass another broker. Some of us like the low rates and innovation. We don't need some malinformed taking cheap shots and possibly ruining it for all of us. GO BACK TO CHARLES SCHWAB.
Quote from ddefina:
Why don't you close your account and go harass another broker. Some of us like the low rates and innovation. We don't need some malinformed taking cheap shots and possibly ruining it for all of us. GO BACK TO CHARLES SCHWAB.
20 bucks says he works for SCH and is trying to discredit IB. This circus has spanned multiple threads and reviews.
I posted a rating about IB, but here is my take after haveing an account for 2 months:
Negative:
Incredibly long, one sided agreement to get started, even requiring a test where you basicly have to prove you know you would be screwed in a number of scenerios. Kind of degrading.
Total resource hog java interface, takes a long time to download, will not work well on computers that are not high powered.
Positive:
I do not think commissions can be beat anywhere.
Executions/fills are very good/fast. Fills/prices *way* better/faster than 2 other brokers I used.
Workstation, although is a hassle to get set up, and to start each morning, is *fast* when it really counts - making the trade - no trudging around a painfuly slow website when a price is running away from you. Just click-> get
Customer service, seems to be slower than other places, and maybe a little less helpfull, but so far I havnt really needed it.
If you are using a regular, non direct access broker, and trade regularly, switching to IB could easily turn some losing days into break even days, and some break even days into profitable days.
Although I still have my old brokers with some funds as a backup, I would not use them unless I had a "can't miss" trade setup, because the combination of fills and commissions weighs on every trade.
With IB, you can be a lot more "up to the minute", and pretty much put commissions & roundtrip costs out of your mind and focus only on "should I be in this trade or not?"
Negative:
Incredibly long, one sided agreement to get started, even requiring a test where you basicly have to prove you know you would be screwed in a number of scenerios. Kind of degrading.
Total resource hog java interface, takes a long time to download, will not work well on computers that are not high powered.
Positive:
I do not think commissions can be beat anywhere.
Executions/fills are very good/fast. Fills/prices *way* better/faster than 2 other brokers I used.
Workstation, although is a hassle to get set up, and to start each morning, is *fast* when it really counts - making the trade - no trudging around a painfuly slow website when a price is running away from you. Just click-> get
Customer service, seems to be slower than other places, and maybe a little less helpfull, but so far I havnt really needed it.
If you are using a regular, non direct access broker, and trade regularly, switching to IB could easily turn some losing days into break even days, and some break even days into profitable days.
Although I still have my old brokers with some funds as a backup, I would not use them unless I had a "can't miss" trade setup, because the combination of fills and commissions weighs on every trade.
With IB, you can be a lot more "up to the minute", and pretty much put commissions & roundtrip costs out of your mind and focus only on "should I be in this trade or not?"
IB ROCKS!
rock bottom commissions
universal account to trade stocks futures options in
multi currency
access to all electronic markets
cutting edge trading platform constantly updated with new features
fully automated account opening and management
same day wire transfer ins
free sameday wire transfer outs
low low margin rates
daytrading margins
lots of feedback forums, polls, communiques.
I've been with them 6 months and have never had to phone in an order or phone in for any reason. I trade everyday.
Cheers!
IB offers fast executions and has the lowest commissions I know of. I may be in the minority here, but I've actually found their customer service to be pretty decent. This is especially true of their online one-on-one chat room customer service. Instead of talking on the phone, you type back and forth with a CS rep. I've found these guys to be knowledgeable and even courteous.
I've used SCH for years. I get great customer service and features. I get a dedicated options team if I have any problems with orders, free bill pay service, and I can move money in and out of 5 banks and accounts instantly for free with a click o' the mouse. But I can't make any money because of the high commissions!
I have an account at IB now and SCH is the backup. It was quick and easy to open the account and the TWS has been working great. $2 r/t trades is a dream come true for me.
I have an account at IB now and SCH is the backup. It was quick and easy to open the account and the TWS has been working great. $2 r/t trades is a dream come true for me.