Quote from Businessman:
Anyone who passes the minimun net worth/income requirements to open an IB account can easily afford $10 a month, no problem.
You therefore have enough to afford it, or you lied when opening your account.
Which is it?
People should interpret based on the whole context, not single some texts out which will cause misunderstanding. What I tried to say is due to exchange rates, $10 USD may mean differently to different people in different countries. There is no indicator whether one can afford it or not.
You said if one can afford the cost, one should just pay for it and shouldn't use alternatives.
Following your logic, even IB charges $100 USD now for US market (no exemption), we should gladly pay it. You should be still able to afford it, shouldn't you?
Following your logic, there is no problem even if we are paying the most expensive data, the most expensive commission and so on. Forget about the price, quality, support services and so on. If you are profitable, you can afford it anyway. Go get the most expensive plan now.
It is interesting to hear some people can justify themselves by such kinds of reasons.
First, you indirectly eliminate competition via the constant popup bugging.
Next is to charge high data fee in non-US markets.
Now every time a customer doesn't like your datafeed and want to use alternatives, the so-called solution is to tell him to accept the fact and use mine. If they argue, accuse them cheap or liar. You have enough to afford it, why don't you pay? If you don't pay, you are a liar and blah blah blah.
Is it the way to do business?
If IB has the same mind as the one stated above, I feel completely disappointed at IB.
Opening account at IB is a wrong choice. Not for the price itself, but the way how it does its business. Eliminating competition and forcing people to use its own datafeed is the way to protect their profits... umm...
