Interactive Brokers and Listed Trading

L

LelandC

Is anyone here using IB to execute NYSE or AMEX trades? How are the executions? Do they allow you access to Superdot (where you order is routed right to the floor)? I see that they offer extremely cheap fees but I really haven't heard much about their executions - especially for listed stocks. Also do they offer 4:1 intraday margin?

I am currently on a per trade basis (commissions) and my fees are considerably higher than those of IB. Just looking for opinions here....

Leland
 
They do offer 4:1 intraday margin. I'm not classified as a daytrader, but do have 4:1 margin. I can't find Superdot as an option, but NYSE executions are good. I've saved big $ since switching from the $10 a ticket brokers. I like to spread my shares over a lot of stocks, and they work great for that.
 
I would also commend IB on their listed stock executions. Its quick and i do believe IB executes through superdot, although the route will be listed as NYSE.
 
I'd say, check out the broker ratings and the many posts here about IB.

IB's executions are excellent most of the time, for listed as well as other stocks & options ( marketable prices and sufficient trading volumes provided - as with all brokers ).

Although IB is not flawless ( don't know of a Broker who is ) it's the best deal around for swingtraders ( intraday and multiple day ).

Commissions are unbeatable. Their TWS ( Traderworkstation ) is not comparable to Realtick or any other fancy RT software , but it does, what it is supposed to do , fast and efficient ( IMHO ).

TWS improved a lot in recent months and is now a tool a trader can work with - especially the Hotkey-functions are great time-savers. I suggest, you download and test the demo on their website.

With the money you save on commissions, you can afford a separate Top RT Quoteservice with RT charts and all you want.

If you're looking for scalping the cents on large lots with hundreds of trades a day, I'd suggest to look elsewhere.

But for swingtraders and investors alike, IB's low commissions can add substantially to the bottomline profits.
 
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