What are pros and cons with Interactive Brokers?


I don't know what info is need. My computer has already been registered and they did it on their end automatically, so I didn't need to do anything which was a good thing because it was painless procedure to enable security on my computer. I didn't need to understand how it works in order to enable it.


Nice to hear that is simple and automatically. Thanks.

but again, without understand how that work, it is very hard to understand how safe it is.....
 
Tradestation has a fair-sized community of traders posting on their forums to ask questions of. IB doesn't.
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Offícial IB discussion area is pretty dead. But IB has inofficial forum which has fair sized community of posters.

Elitetrader -> Direct-Access Brokers ›› Retail Firms :)
 
Quote from WinSum:

TradeStation has its own type of security safeguard.

Your trading computer is registered on their security system. So only your registered computer can trade your account. A Hacker cannot logon with your ID and try to trade your account since his computer is not registered.
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One item overlooked, Remote access trojan, key stroke recording spyware. A hacker could easily access your account through your computer. Hence, it may be a false sense of security thinking you are protected because TS security measures solely identifies your computer... a slight hurdle, but easily overcome by those that are determined to steal your money...

Personally I only maintain the maximum amount I am willing to lose in my trading accounts in the event of a catastrophic event or identity theft. Shut down my trading computer and internet access when unattended. Nothing is 100% safe. Remember, a lock only keeps honest people honest... those that are determined to steal will find a way...

Trade well and be well...
 
Pro:
- trading multiple markets from one account

Cons:
a big retail broker => related problems:
- overbusy order server
- poor customer service
- no personal attention if your deposit is small (less than 1 MIO)

Fees are an ex-pro of IB. Now many firms offer smaller fees especially if you are high volume trader. IB does not negotiate (at least with retail traders).

Summary: open IB account if your deposit is > 1 MIO & you are trading multiple markets & you are not scalper.
 
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