Whats the difference between IB and other Brokers?

S

Splat

Hi,

I apologise if my questions are naiive.

My understanding is that IB supports Level II. Am I correct?
Is so then whats the difference between order book entry/execution between IB and other direct access brokers.

Regards,

Splat.
 
PS I ask these questions because some people suggested that IB is the broker to use when starting to daytrade.
 
First 500 shares .01, above that on the same order .005 per share! No fees passed through from ECNs or NYSE (as far as I can tell). .01 IS .01. No volume needed to get these prices, no desk fees. That's why IB is still the best. I could care less about customer service, I've called the help desk once in 2 years, and I don't call to bi**h about fills.

They offer L2 now for an additional fee, but their quotes, L2s, and charting? I don't like. I use another quote provider.
 
Splat,

Go to the forum called Direct Access (Retail), and you'll find about a zillion threads on IB. Everything you ever wanted to know...
 
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