moving past Interactive brokers

If you are competent, and use margin only in certain ways, then fine.


Margin use just for the sake of 'doubling down' is a fools game.
 
Etrade I think is an upgrade from IB. Actually, IB seems like the lowest of all the options out there. I believe its time to step up to a real platform.
 
Yeah, you and magnum ought to move to bigger/better brokers and platforms like say...Lehman or Bear Stearns!



Quote from Port1385:

Etrade I think is an upgrade from IB. Actually, IB seems like the lowest of all the options out there. I believe its time to step up to a real platform.
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Quote from stock777:

If you are competent, and use margin only in certain ways, then fine.


Margin use just for the sake of 'doubling down' is a fools game.
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I'm confident In my trading method so I use margin to simply maximize my returns. I know it can maximize my loss also but like I said I'm pretty comfortable trading the way I do.
 
Quote from magnum29464:

I was thinking I may need to find a prime broker or some sort of more sophisticated company. I plan on trading with bigger shares and probably useing more margin and I just want to be sure I'm using the best possible broker/platform. being that i have no experience with other brokers I don't know what to expect or look for.

as far as incorporating goes I need to compare the benefits of going both routes.
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The other guy was right.

InteractiveBrokers is a rock in these times.

Lehman, Bear Stearns, Merrill were in deep doo-doo.

Look at Iceland, including their version of investment banks.

Royal Bank of Scotland, Goldman, Morgan, many European banks, Asian Banks are shaky. Look at their stock prices! This includes their Prime Brokerage.

How many tens of billions are they setting aside? UBS did $18 billion and may not be done yet! What is facing them next?

Were the bigger guys really where you should be? You have maybe the best place to be the next 2 years at IB.

Don't do the grass is greener...
 
the OP's question is valid and i am looking for the same. IB is getting >15,000/month in comm/fees from me and they cost me, i'd say on average, >3,000 every month in fuck ups due them dropping DAX feed, globex, stops not executing, trades not executing, etc. this month, that total is >10,000. friday i put in a trade to go long AUD.USD @ 63.5 and it never executed even though both bid and ask were below me for 4 minutes. cld WORTHLESS, I REPEAT, WORTHLESS, IB trader who can't find my order for 10 minutes, gives me a 'that's weird' andf then a tough shit 'we don't compensate for lost opportunity. WTF!!!

bottom line, IB is a piss ant broker who runs from all responsibility.

what i want:

a broker where i can trade all asian markets, Eurex and US. i want to have the ability to expand to client funds as well in the future. my previous client setup is/was not geared to futures trading.
 
Fimat/Newedge? They have pretty high minimums, but these days with all the HF redemptions they may also be interested in not as big business. Also they aren't a bank and kept out of the news so far during the crisis.
 
Move away from IB, you mean to 'more professional' firms like Bear Stearns or Lehman Brothers? :cool:

I have an institutional account at IB. Why move somewhere else when I couldn't be happier where I already am? Peterffy at the helm makes me get a good night of sleep, every night.
 
What do you trade?




Quote from magnum29464:

my portfolio has grown pretty well so far so i think I'm ready to make the next move and make this a true profession. so far I have been trading as a personal trader on a personal account with interactive brokers. I feel its time to move up. I know i need to incorporate and I may need to upgrade my trading platform. Is there benefit to moving on from interactive brokers towards bigger companies? any advice on making this transition would be greatly appreciated. I'm not opening a hedge fund but I do want to be a professional personal trader. there isn't much info out there about the business side of this process so any suggestions or even a point in the right direction of some good info would be a great help.
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