Quote from Pabst:
Ask anyone in the know. Velocity rocks. They never go down. Period.
I use IB for some things. I also use TT through another broker (not Velocity). I have heard good things about Velocity from traders who generally do NOT like any broker. So they have to be ok.
I originally opened up the IB account and moved money there from another stock broker. I thought it would be cool to be able to trade several products under one account without having to pay Morgan Stanley/ BearStearns commissions.
Ib has exceeded my expectations. It is faster than I expected it to be. I have done quite a few cash currency trades on IB and find them to be great. I have no complaints as of yet. I have had to call customer service a couple times and no problems getting through. I expected the worse on the Customer service side and have been surprised (or maybe lucky).
I use Zerolinetrader for a front end for IB and it works well. The big advantage with IB is the data feed. For smaller traders not tying up a ton of money in a data feed every month could be a big plus.
TT has been great and it is addictive. I have used it off and on since the first day it rolled out in the CBot (late 2000??). I would encourage any high volume scalper to do the numbers and lease a seat if it makes sense and check out TT.
I have always kept 2-3 accounts open. I like doing a lot of business with one broker and then have a couple others in for back up in case somethings goes south. Brokers come and go.
I have not found a problem with IB yet. Considering the size of their operations that has surprised me. I have yet to hear a major bitch about TT (except the price---but you pay for what you get). I have yet to hear anyone cry about Velocity.
The stock account I moved to IB was with Tradestation. They suck IMO. They did not even have a Eurex feed up after a 11 months of them telling me it was coming ---thats not good. You have to have different accounts for everything at TRAD. I would never use them. I am surprised the stock is rallying.
Just my 2cents
TGM
