IB vs. Tradestation

Chuck,

Does esig integrate the ecn books into Lev II? By that I mean does your Lev II display MM and ecn's or does one have to open a separate Island window for example? Does the Lev II box contain a T&S ticker like RealTick?

I didn't see Assent listed in the brokerage link. Does that mean they just run side by side with esig, ie no integration, and no soft dollar? Thanks.
 
I have my brokerage account with IB and I use TS as my charting platform. TS has been continuously improving their platform in terms of stability and datafeed. I was unhappy about TS datafeed earlier this year but it has improved quite a bit now by direct CME feed and enhancements to their software. I think they are really listening to their customers. I have received several phone calls from their support group replying directly to me to the questions I posted on TradeStation World website.

TS introduced the Matrix, order entry, market depth and market profile tool. Check out the matrix demo in the TS website! In the future, they'll introduce more flexible orders like bracket orders. I think soon TS will be closely competing with IB for e-mini trading.

I am also very happy with IB. They have a stable platform, flexible API and excellent e-mini executions. But they do go down on rare occasions.

I'm planning to open up a backup TS brokerage account in the near future. If something goes wrong with IB, I can hedge my position with my TS account.

Chinook
 
Hayman,

One MAJOR reason that I have not seen and that no-one is telling you about (at least VERY few):

IF
you have a standalone charting package (eg the Old TradeStation 2000i, MetaStock 8, IBCharts, MedVed's QuoteTracker to name a few of the more popular ones)

AND
you use something like Dynaorder / Metaserver RT as interface to IB's quotes

THEN
you can trade the ES e-mini S&P on a 19.2 K line happily.


try to do that with a package that is server based / has data remotely etc.

I frequently am in Asia and frequently cannot get a very good connection. For me all this "on-line authentication" (eASCTrend, Ensign belong in here too) and downloading every time the software environment and/or data is of totally of NO USE WHATSOEVER.

You may think this is not important in your case: but I have had that on a few occasions that my ADSL went down and I dialled in to my backup ISP with my modem and happily continued trading.

If you need an ADSL the you are LOCATION bound.

Nice new technology coming around that allows it from your mobile pone and PDA etc. Fat lot of use! More complexity - trading is a subconcious thing and you will need to see the software that you use daily.

Just watch out how many third party pieces of software you use.

I have two ways of charting and try to minimise bottlenecks on critical software. Time to learn a package is $$$ too.

Vendors should GIVE you money to try out their software - once you have used it for a while then you are not likely to change due to the learning curve.

This is why I use software that is DATA vendor independent and BROKER independent.

Hope this helps.
 
AAAintheBeltway,

We do have the top of books of the ECNs in the level2 display, but not the full books merged. We are looking at this in a future release.

Assent does have an integrated version using Hammer with eSignal they are using. It is up to their marketing group as to when they'll be on our site.

There are also a number of other Hedge fund and Institutional trading execution systems that connect to eSignal that don't appear on the site.

Chuck
@eSignal
 
Quote from Chuck_T:

eSignal is more affordable, plus works with multiple integrated brokerage partners.

Has backtesting, global coverage, coming in 7.5 market depth on the emini. Many of these brokerages will soft dollar your eSignal fees back for active traders.

New mobile, wireless add on companion product coming next year with charts, news, streaming quotes.

Have available now, Interactive Brokers (IB), MB Trading, Cybertrader, optionsXpress, Refco, Lind Waldock ... plus Assent, Carlin, Bon Trade, Open Ex ...

Coming soon ... by year end ... Trading Technologies ( TT X-Trader), Patsystems (J-Trader), Goldman Sachs Redi, FXCM, Refco FX, Gain!!

Chuck
@eSignal
More...

Does it mean i can place trade with FXCM trough your Esignal
Mobile wireless add on, by year end?
 
We'll have integrated trading in the mobile wireless product Quotrek with selected brokerage partners probably in the second release.

We'll be opening up the beta on the new Quotrek shortly in the next few weeks.

Chuck
@eSignal
 
I like Trade Station a lot.
I have been with them for years.
Their customer service is great.
Their tech support is very patient and helpful.
I do not find them expensive.
And their new Matrix is the cat's nuts.


Things to consider.
It is a huge program and should be used on a dedicated computer. I had occasional problems until I did that. Now it runs flawlessly.

It conflicts with the IB TWS and Java. It is written in C++. If you want IB open at the same time, use another computer.

IB's customer service stinks. I used them as a futures broker until Trade Station integrated one. I really do not recommend them. I do not like TWS, it is hard to use and easy to make mistakes.

And when you get to be a BIG account....you get a free platform and better rates.
 
Quote from hayman:

OK gang, I'm starting this thread, and I want to hear from everyone. With Tradestation's reduction in commissions, I am strongly considering going with them vs. IB. The commission costs are virtually the same now, and the ability of Program Trading and current and historical simulation gives Tradestation a big plus over IB, IMO.

I like IB overall, although they have gone down at crucial times for me in the past week, which seems to be atypical, but was quite frustrating.

I want to hear from you guys out there - IB vs. Tradestation - why would you go (or stay) with one versus the other. Are there any other discernible features of one vs. the other ? Any real cavities that one has versus the other ?

Thanks in advance for all opinions.
More...


I predict there will be an IB response by the first of the year as to their Futures commission rate. How low do you think they will go?....being self clearing......I am guessing a round number like $4.00 RT.....or maybe they will do a sliding scale volume thing....but I doubt it.

The factor to consider is how well can your brokerage/perspective brokerage follow the market rates and strive to stay competitive. Is it possible for them to compete with the likes of a self clearing firm like IB?

Michael B.
 
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