Quote from OldTrader:
Before you call something a "weak assumption" you might want to trade for longer than a couple of years son.
No one said "having access to a live person in the event of a catastrophe" is "hand-holding". And I would guess that even you would grant that catastrophes don't happen every day, week, or month. Why do you think I said I have only needed customer service a handful of times in the a number of years?
You do have to be able to read. The online users manual, and other online help is quite comprehensive. And yet, I will guarantee you that large numbers of IB customers to not take the time to avail themselves of this help. Instead, they call IB, tieing up the lines for more critical problems, to ask a question that could have been easily answered out of the users guide. When they get what they feel is a rude response, then they are all over customer service instead of taking responsibility for their own lack of resourcefulness. Or perhaps they post here, usually with some dramatic, accusatory title about IB, when the source of the problem was really themselves.
Now, I doubt anyone would call me a "scalper". Yet, speed of quote is more important to me than someone patting my ass weekly over some question that I could have known through other sources. Call me crazy.
OldTrader
Son, huh? lol heh heh I guess my personal preferences don't matter because I have only traded 3 years and I am not a bitter old man.
Whoops.
By the way, that
was in fact a weak assumption on your part...or at the very least, you should try to rephrase next time to better get your point across.
I don't really give a shit what others have to say about IB or anywhere else, I am entitled to my opinion. My personal preference is a company that doesn't act like assholes if you need to call in, for whatever reason.
They are called fucking customer service for a reason. They want to aggressively advertise to the general public, then what kind of people do they expect to have signing up for accounts with them?
Shit, if they were more discriminating with who they allowed to open accounts with them, then yeah no problem..but hey, they want the business, they deal with the idiotic customers.
That's the deal.
I am not taking up for the people that should be doing their own homework, but the basic premise of customer service is that they are there to help.
If IB chooses to not go that route, and they instead focus their strengths to offering the lowest quotes and zero customer service...then fine, no problem..their prerogative.
It's also my prerogative to select a broker I enjoy conducting business with. Period. Personal decision. This does not make me an idiot.
See, with IB taking the first $10K of my interest bearing cash out of the equation each month, that essentially would cost me another (appx) $40 each month, which pretty much negates any savings on commissions, since I am a longer term trader...not to mention the minimum commission threshold you must meet or you have to pay a penalty...
You also factor in someone who wants to be an asshole to me if I need to call, and you've got yourself a subpar broker. In my opinion, which frankly is the only one that matters to me.
My viewpoints do not make me an idiot or indicate a requirement for hand-holding.
There are plenty of brokers out there who can compete with IB's rates (especially for longer term traders), who also pay interest, and also will answer a question if I have one, or won't be an asshole if something goes wrong in my account.
IB may be a better choice for some, but not for others....