Thomas Peterffy - The founder of Interactive Brokers may be preparing a challenge to the Major Banks

[Cdntrader]

The tools seem to work relatively well for the majority of customers as is reflected in their increased revenue. Nowadays a trader has to also know programming to automate, that's just how it is. It's not overly complicated either, one just needs to put in the effort to learn. IB should rather focus on lowering fees (they're not cheap) and not spend so much time focusing on beginners.

Who is cheaper? thx in advance.

 

[d08]

Who is cheaper? thx in advance.

If trading large positions, obviously any broker with fixed commissions (not share based). There seem to be plenty which have sub $15 per trade. IB should have a more progressive schedule for commissions, paying $100 per trade on a very liquid ETF seems outrageous to me in this day and age.

 

[truetype]

$100 per trade? You must swing a heavy bat!

 

[d08]

$100 per trade? You must swing a heavy bat!

Not necessarily, just a heavily leveraged position in not so volatile ETFs. 15000+ shares at closing auction was over $100. Not in any way sensible, it shouldn't be more than $20 or $30.

 

[truetype]

Ask for a better rate! "Operators are standing by..." 1 (877) 442-2757

 

[Cdntrader]

If trading large positions, obviously any broker with fixed commissions (not share based). There seem to be plenty which have sub $15 per trade. IB should have a more progressive schedule for commissions, paying $100 per trade on a very liquid ETF seems outrageous to me in this day and age.

Could you name a broker(s) specifically? thx in advance

 

[misterkel]

The tools seem to work relatively well for the majority of customers as is reflected in their increased revenue. Nowadays a trader has to also know programming to automate, that's just how it is. It's not overly complicated either, one just needs to put in the effort to learn. IB should rather focus on lowering fees (they're not cheap) and not spend so much time focusing on beginners.

I'm looking into learning programming for automated trading and scanning, but I don't know the best place to learn. Any tips?

 

[d08]

I'm looking into learning programming for automated trading and scanning, but I don't know the best place to learn. Any tips?

Take a look at examples that are in the API folder. Alternatively, use something like IbPy (abandonware) and look at its examples online, "placing orders with ibpy", "requesting data with ibpy" etc. There's plenty of material. There is a learning curve but it's worth it.