Agreed.
Just $10 a trade...
- Thread starter michaelscott
- Start date
Agreed.
I am with IB now but I used to have accounts with Scottrade, Ameritrade, TD Waterhouse, Datek, TD Waterhouse canada, Etrade, Fidelity...
I was with them for more than two years and and with some over 5 years.
I can not compare IB with any of them. IB is far far a better broker "For me". I like their strict liquidation rule. I like their low margin rate. I like their commission rate on options, stocks. I like their paperless policy to reduce costs.
I have been with IB for 4 years and I called them once that I got my answer. When I trade a stock, I have a plan to short 2000 shares at 40, I don't need to do it once to get lower commission, I do it 200 shares at a time to test the water and sometimes the stock goes up, I short at higher prices that compensates the commission cost. If I were trading always in 3000 to 4000 share blocks and over one million shares a month , I would go with bundled commission rate.
All things said, IB is not for everyone. Some investors might hate IB if they open an account with IB. If you trade 4 times a Quarter and also like to buy mutual funds and you are not in option trading, IB is not for you. Those who join IB, should have at least 2 years of trading experience.
I was with them for more than two years and and with some over 5 years.
I can not compare IB with any of them. IB is far far a better broker "For me". I like their strict liquidation rule. I like their low margin rate. I like their commission rate on options, stocks. I like their paperless policy to reduce costs.
I have been with IB for 4 years and I called them once that I got my answer. When I trade a stock, I have a plan to short 2000 shares at 40, I don't need to do it once to get lower commission, I do it 200 shares at a time to test the water and sometimes the stock goes up, I short at higher prices that compensates the commission cost. If I were trading always in 3000 to 4000 share blocks and over one million shares a month , I would go with bundled commission rate.
All things said, IB is not for everyone. Some investors might hate IB if they open an account with IB. If you trade 4 times a Quarter and also like to buy mutual funds and you are not in option trading, IB is not for you. Those who join IB, should have at least 2 years of trading experience.
Btw, Ameritrade Izone is $5 a trade, $10 a roundtrip... which is more competitive.
def
Sponsor
I have no experience with other firms but does that all in encompassing fee provide you the best execution? If you give up 1 penny every now and then on fills as well as never receive price improvement it can be very costly eg: .01 * 5000 = $50
This SEC form 606 is available on all brokerage sites. Here's the one for TD:
http://www.tdameritrade.com/forms/CLR2054.pdf
and for IB:
http://www.interactivebrokers.com/en/general/about/brokerDealerReports.php?ib_entity=llc
Yep, but they won't let me trade my IRA with them.
Guy's its great that we like IB but we're missing an opportunity here.
Both scott's should leave IB. They waste customer service time and they waste def and other local's time. We don't want them --- its time for them to go somewhere where they can get the service they so richly deserve.
Scotty, go now. Don't be dissuaded. Enjoy your new broker!
Both scott's should leave IB. They waste customer service time and they waste def and other local's time. We don't want them --- its time for them to go somewhere where they can get the service they so richly deserve.
Scotty, go now. Don't be dissuaded. Enjoy your new broker!
Seconded.