"smart routing".... IB vs. CYBERTRADER

i dont know if you guys remember tradescape (2001) from the old days but their smart routing was total crap.... probably why they went belly up and got bought out by Etrade. JOEY..... I KNOW WHAT YOU TALKING ABOUT......i am not a chaser but missing the entry can cost a month of potential commission savings
 
heck i was with tradescape and they sucked. they had all that fancy colorcoat and i was impressed. i remember using there demo and bamm ever order filled i was excited becasue it was really the first retail color coated level 2 then. then when i went to the real thing no damm fills it was awful. same thing with trac trade. i bit on the 1/2 penny crap last summer no ecn fee's. they sucked they routed every single market order to sch and gs and they held each for 90 seconds every time and if i put a limit out there and even if i specified arca they'd place it on there own trac ecn. it was awful. although i didn't use cyber a ton i wasn't impressed. ib is unmatched. i remeber last year trading mmc when it crashed 10 pts total panic ib filled every smart order in seconds. but again the markets been stale 96% of the past 2 years so i'd have been better off with cheaper commissions for a limit trader
 
Quote from larrybf:

I have been an interactive brokers customer for 5 years...a relatively happy one... however the new per share pricing by cybertrader can save me several hundred $$$ a month ( a car payment) . I use a lot of smart order routing so my big concern is regarding the speed and reliability of cybertraders execution. Any feedback would be appreciated. THANKS IN ADVANCE
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CyberTrader passes on SEC fees. IB does not. Just another thing to consider (especially since SEC fees were just raised). If someone has changed from IB to Cybertrader, how much do you save in commissions now?
 
I switched from IB to CyberTrader in November 2004.
I'm saving few hundreds/week in comissions.
However I think I was getting much better executions with IB smart routing.
This is a big concern for me since I'm closing my positions with hard stops most of the time.
For example, with IB I was used to get no slippage or max 1 cent slippage trading Ebay.
Just few days ago I had 5 cents slippage on Ebay with CT in not very fast market. Since CT smart engine kept sending and cancelling order on inside bid until I was finally filled.
Therefore I'm thinking about going back to IB, or trying Genesis Securities.
Hope this helps someone. Any similar experiences anyone?
 
zzzap...... info like this is invaluable....makes me feel better about sticking with IB in spite of higher commissions.THANKS
 
I tried the IB demo and couldn't find a level 2 screen. I don't think I can trade without a level 2 execution system. Where is it? Here is a picture of it attached. No level 2 for IB? I also found their software to be awkard. Their charts were very strange. I also tried cyber trader demo and didn't care for their charts. I really don't see where either one of these companies are all that great. Where is IB level 2?
 

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Quote from traderbob2112:

I tried the IB demo and couldn't find a level 2 screen. I don't think I can trade without a level 2 execution system. Where is it? Here is a picture of it attached. No level 2 for IB? I also found their software to be awkard. Their charts were very strange. I also tried cyber trader demo and didn't care for their charts. I really don't see where either one of these companies are all that great. Where is IB level 2?
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Traderbob,

IB - right click on the symbol and select either Level II or MarketDepth. May not work in demo - thats a dummy account and does not represent real trading.

Charts - You would not use the charts in TWS for anything productive. use 3rd party software that integrates with IB for that, be it QuoteTracker, Ensign, Sierra, etc.

CyberTrader - same thing goes for charts. One added advantage - Cyber clients get QuoteTracker for free (registered)
 
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